Around the block
Development site
A 1040sq m corner site at 5 Burns Avenue, Takapuna, Auckland, zoned Terraced Housing and Apartment Buildings (THAB); allowing the highest density of development under the AUP with a 22.5m height overlay, sold for $4.01 million including GST by Michael Nees and Damian Stephen, of Bayleys North Shore. Four residential tenancies across two large two-level dwellings returning a holding income of $111,280 gross pa.
Truck stop
A 1703sq m truck stop facility in Hamilton on long-term ground lease to global oil provider BP has sold for $1,335,000 at a yield of 5.24 per cent. The sale, by deadline private treaty, of 26 Crawford Street, Forest Lake, was brokered by Alan Pracy and Blair Hutcheson, of Colliers International Hamilton.
Office and warehousing
A 237sq m industrial unit in the North Harbour Industrial Estate plus six associated car parks at 237 Bush Road, Rosedale, Auckland, sold vacant for $1.5 million by Matt Mimmack, Adam Watton, Rosemary Wakeman and Adam Curtis, of Bayleys North Shore. Recently modernised by the previously occupant, it comprises 226sq m of warehousing and 190sq m of air-conditioned offices.
Three tenancies
A 280sq m industrial unit in the Tawa St Business Park at 32 Tawa Street, Mt Maunganui, with partitions to provide three tenancies for three new leases signed in September 2019, sold for $1.361 million at a five per cent yield by Brendon Bradley, Lynn Bradley and Ryan Bradley, of Bayleys Tauranga.
Industrial property
A 1712sq m industrial property on a prominent corner site at 92 Ascot Road, Auckland airport, has sold by private treaty for $3.5 million at a yield of 5.45 per cent. The deal was transacted by directors Hamish West, Brad Johnston and Paul Jarvie, of Colliers International’s Highbrook industrial team.
Vacant industrial
A 536sq m warehouse with two levels of offices and amenities on a triangular 904sq m Light Industry-zoned site at 68 Portage Rd, Otahuhu, Auckland, sold vacant for $1.4m by William Gubb and James Valintine, of Bayleys Auckland.
Commercial property
A commercial property leased to valuation firm Telfer Young at 25 Pandora Road, Napier, has sold for $694,000 at a yield of 11.16 per cent. The deal was brokered by Ash Hames and Rob Nankervis, of Colliers International Hawke’s Bay.
Sports club
The 298sq m ex-Tairua Pauanui Sports Fishing Club on a 780sq m Mixed Housing Urban-zoned site at 11 Tui Tce, Tairua, sold vacant for $1.2 million by Josh Smith, of Bayleys Hamilton, and Belinda Sammons, of Bayleys Whitianga. The two-level clubroom adjacent to the public boat-ramp has bar and kitchen facilities plus car parking. Future residential or hospitality development potential.