Around the block

Retail block

Four fully tenanted ground floor retail units ranging in size from 78sq m to 261sq m, on a variety of lease terms through to six years, with total net rental income circa $533,996 at 29-41 Willis St, Wellington, sold for $8.6m at a 6.17 per cent yield by Jim Wana, Mark Sherlock, Bayleys Wellington.

Industrial property

A North Shore industrial property has sold at auction for a yield of 3.45 per cent. The 518.4sq m property at 1/3 Cowley Pl, Albany, Auckland, comprises a warehouse and office/showroom plus 10 car parks. The $2.55m sale was brokered by Janet Marshall, Ryan de Zwart and Matt Prentice of Colliers International North Shore.

Childcare centre

A 548sq m childcare centre occupied by a national tenant with five-year lease from February 2019 plus two five-year rights of renewal, on 1840sq m site at 75 Ballarat St, Ellerslie, Auckland, sold for $5.4m at a 5.43 per cent yield by Matt Mimmack, Bayleys North Shore; Tony Chaudhary, Bayleys South Auckland; Cameron Melhuish, Robert Platt, Bayleys Auckland.

Industrial lease

Colliers International broker Kieran Lennon has leased an industrial warehouse at 2C Bell Rd South, Lower Hutt, to Wedgelock Equipment Ltd, manufacturers of excavator attachments, for $500,000 p.a. The space comprises 3500sq m of warehouse, 500sqm of office and 1200sqm of yard.

Papamoa industrial

A 2504sq m mixed use site with industrial workshop, offices, yard and two-bedroom apartment at 8 Ashley Pl, Papamoa, Bay of Plenty, sold at Bayleys Total Property 6 auctions for $2.23m by Brendon Bradley, Ryan Bradley, Bayleys Tauranga.

12 car parks

A 566sq m industrial unit with 12 car parks in Albany has sold at auction for $2.69m at a yield of 3.67 per cent. The sale of 2/3 Cowley Pl, Albany, Auckland, was brokered by Janet Marshall, Ryan de Zwart and Matt Prentice of Colliers International North Shore.

Modern commercial

Architecturally designed, award-wining premises at 28 Norwich St, Eden Tce, Auckland, on 295sq m mixed use zoned site opposite Basque Park providing 21m height overlay, sold for $2.2m at a 4.55 per cent yield by Alan Haydock, James Were, Bayleys Auckland.

Warehouse lease

A 4316sq m warehouse/office building at 212B Cavendish Dr, Wiri, Auckland has been subleased to Kiwi Logistics Ltd. The deal was brokered by Colliers International’s Mitch Broderson, Greg Watson, Andrew Hooper, Greg Goldfinch and Ben Herlihy.

Long CBD lease

A 166sq m commercial premises at 145 Nelson St, Auckland Central, sold for $1.15m by Damien Bullick, James Chan, Ken Hu, Bayleys Auckland.