MARKET WATCH: RECENT SALES AND LEASINGS

5-7 Bay Park Place, Birkdale A standalone freehold office/ warehouse with vacant possession sold unconditionally for $1.5 million. Marketed by Dave Lane of NAI Harcourts North Shore, it had floor space of 1245.2sqm and a site area of 2282sqm. Potential rental $109,000 per annum, plus GST and outgoings. 11-18 Link Drive, Wairau Park With floor area of 445.7sqm and a tenant of 20 years, sold for $1.83m at auction. Occupied by Lighting Direct, it receives a net rent of $109,700 per annum plus GST. Marketed by Andrew Bruce and Rob Meister of NAI Harcourts North Shore. The building had a 90 per cent NBS rating. 208 Karangahape Rd A 1920s-built 1532sqm 3-level building, with initial seismic assessment of 21.9 per cent of NBS was sold for $1.75m. Covering 670sqm of land, it had an 8 per cent yield. Sold by Colin McKenna and James Chan of Bayleys Auckland. 284-286 Karangahape Rd A circa 1915, fully leased but earthquake-prone building was sold for $1.59m. The 395sqm building has two retail tenants, three flats upstairs and four carparks. Refurbishments and a new shop front from 2011. Sold by Nigel McNeill and Leah La Hood of Bayleys Auckland. 18 Newton Rd, Grey Lynn A 344sqm two-level workshop/ office building on 304sqm site sold for $1,002,000. It had a 6 per cent yield on new 6-year lease, annual rental increases of 3 per cent. Sold by Cameron Melhuish and Alan Haydock, Bayleys Auckland.

ROTORUA

Unit 3, 83 Wahanga-A-Rangi Cres A 95sqm high stud warehouse in 12-unit multi-use Enterprise Business Estate sold to an owner occupier for $150,000. Sold by Bill Wilson, Mark Rendell of Bayleys Rotorua. WELLINGTON 19 Collins Ave, Tawa A potential development site of 1040sqm zoned outer residential sold for $297,850 by Chris Callear of Bayleys Wellington. 22 Cashew St, Grenada A 760sqm, 1980s freehold warehouse split into two units sold with vacant possession for $680,000. Sold by Fraser Press of Bayleys Wellington.