Around the block
Harris Rd building
A 2195sq m industrial building on a 4186sq m site, at 12-16 Harris Rd, East Tamaki, has been sold to an owner occupier for $5.82m by Mike Marinkovich, Bayleys and Paul Higgins, Colliers International. It comprises 1919sq m of high-stud warehousing including two gantry cranes with the balance office and amenities. The current occupier has a lease until September 2019 at a net annual rental of $267,000.
Newmarket pair
Two adjacent commercial properties a block from Broadway in Newmarket, have been purchased by a private investor for $7.365m. 118 and 120 Carlton Gore Rd have a combined land area of 706sq m and a net lettable area of 644sq m. The off-market street deal involved negotiations between two vendors and a single buyer, brokered by David Burley and Kris Ongley of Colliers.
Mairangi Bay building
A 644sq m fully leased commercial building on an 836sq m corner site at 368 Beach Rd, Mairangi Bay, was sold for $4,175,000 at a 4.9 per cent yield by Michael Nees and Dean Gilbert-Smith, Bayleys.The property has a resource consent for a four-level retail and apartment building. It has four ground floor retail tenants with a legal firm office tenancy above.
Papatoetoe retail
A fully tenanted retail investment at 74 St George St, Papatoetoe, has sold at auction for $1.95m, at a yield of 5.21 per cent. It comprises a single-level, 368sq m retail block on a 1,174sq m freehold corner site. The deal was brokered by Gareth Fraser and Matt Barnes of Colliers.
Pokeno business park
JLL industrial agents Henri Yeoman and Tim McGoldrick sold a development site at Gateway Business Park in Pokeno for $6.2m. The 26,000sq m plot of land, at 39 Gateway Park Drive, sold to Boundary Road Property Partnership.
Christchurch retail centre
Savills commercial broker Ben Cameron has sold a small suburban retail centre in Sydenham to a local investor for $3.09m. The 757sq m centre, on a 2105sq m site, at 289 Colombo St, is leased to five separate tenants, generating $211,014 in net annual passing income. The price represented a yield of 6.8 per cent.
Nelson St car parks
A block of 20 fully leased car parks on individual titles at 17-19 Nelson St, Auckland CBD, has sold for $1.98m at a 4.55 per cent yield through Alan Haydock and Damien Bullick of Bayleys. Located in a four-level building, the parks all have a nine-year head lease to Tournament Parking.
Hobson St floor
A strata-titled office floor at Level 6, 26 Hobson St, Auckland CBD, plus 14 car parks, has sold vacant for $2.03m. The deal was brokered by Tony Allsop, Simon Child and Roger Seavill of Colliers.
Penrose office-warehouse
A global logistics operator has taken a new lease over 5215sq m of warehouse and office space, at 7-9 McNab, St Penrose, at an initial rental of $560,000pa. The lease was negotiated by Scott Campbell and James Valintine of Bayleys.
Rothesay Bay block
A multi-tenanted retail block with Neighbourhood Centre zoning at 595-601 Beach Rd, Rothesay Bay, has sold for $1.28m, representing a yield of 5.15 per cent. The deal was brokered by Gawan Bakshi, Shoneet Chand and Sean Honeycombe of Colliers.
Levin office facility
A 609 q m purpose-built office/ administration and community coordination facility for the Department of Corrections on a 1264sq m site at 6 Liverpool St, Levin sold with a new 12-year lease for $2,617,000, at a 6.41 per cent yield through Bayleys’ Fraser Press, Stephen Lange and Bede Blatchford.
Matamata retail block
A multi-tenanted, modern retail block on a 352sq m freehold property at 65-69 Arawa St, Matamata, has sold for $1.68m at a yield of 5.54 per cent. The deal was brokered by Alan Pracy and Justin Oliver of Colliers.