Around the block

Retail centre

A retail centre in Mangawhai Heads sold for $5m at a yield of 5 per cent. The property, at 7 Wood St, comprises three buildings with 16 tenants, over a area of 1082sq m on a 3078sq m freehold site. The deal was brokered by Euan Stratton and Jimmy O’Brien of Colliers International North Shore.

Airport land

A vacant 4500sq m industrial site at 31 Te Tiki Rd, Airport Oaks, sold for $3.15m. The privately-held land is in the airport precinct, where vacancy is below 1 per cent. The deal was brokered by Jesh Jaskiewicz of Savills.

MediaWorks HQ

A 4358sq m site in six titles, at 3 Flower St, Eden Tce, Auckland, sold to national broadcaster MediaWorks for $26m at a 6.46 per cent yield by Cameron Melhuish, Lloyd Budd and Layne Harwood, Bayleys Auckland. Around 72 per cent of the site is zoned Mixed Use (21m height limit) and the balance Town Centre (18m height limit).

Investment property

A retail investment property in Tauranga CBD’s waterfront hospitality district sold for $1.2m at a yield of 5.3 per cent. Unit 3, 59 The Strand, comprises a 104sq m unit tenanted by boutique gin and cocktail bar Miss Gee’s. The sale was brokered by Rachel Emerson and Duncan Woodhouse of Colliers International Tauranga.

Te Rapa commercial

A 764sq m office/warehouse building with rear yard on a

2665sq m commercially zoned site at 54 Church Rd, Te Rapa, Hamilton, sold for $4.1m at a 4.7 per cent yield by David Cashmore, Rebecca Bruce and Jordan Melcalfe, Bayleys Hamilton. Leased for eight years to December

2027, plus two four-year rights of renewal to designer home builders Downey Group.

Industrial facility

A purpose-built industrial facility on a 15-year lease to Vulcan Steel sold for $25,223,809 at a yield of 5.31 per cent. The property at 27-29 Neales Rd, East Tamaki, Auckland, comprises a 10,705sq m warehouse and office, built in 1996 and expanded in 2001, on a 16,019sq m freehold site with Heavy Industry zoning. The deal was brokered by Andrew Hooper, Brad Johnston and Greg Goldfinch of Colliers International, in conjunction with Scott Soroka and Nikolai Vulinovich of Barfoot & Thompson.

Retail complex

A 910sq m retail complex on a 908sq m site extending to the intersection of Elizabeth and Devonport Rds at 110 Devonport Rd, Tauranga sold for $3.9m at a 4.32 per cent yield by Brendon Bradley, Lynn Bradley and Ryan Bradley, Bayleys Tauranga. Five tenancies are fully leased to a mix of retail, office and hospitality businesses on varying terms.

Industrial warehouse

A two-level 567sq m warehouse with office and amenities on a rectangular 995sq m Light Industry-zoned site with drive-through access and nine car parks at 32 Anvil Rd, Silverdale, Auckland sold vacant for $1.61m by Christopher Moore, Bayleys North Shore and Tim Bull, Bayleys South Auckland.

Masonic lodge

A 1930s 350sq m ex-Masonic Lodge on 1013sq m site zoned Terraced Housing and Apartment Buildings at 3 Detro St, Papatoetoe, Auckland sold vacant for $1.3m by Peter Migounoff and Piyush Kumar, Bayleys South Auckland.