MARKETWATCH – RECENT SALES AND LEASINGS

AUCKLAND 301-305 Kepa Rd, Mission Bay A 473 square metre multi-use commercial building on a high profile 801sqm site has been sold for $2.72 million. The property had a 6.2 per cent yield on an annual net income of $167,856 plus GST. It encompassed four shops, a dental practice, a warehouse used for storage and some retailing, and offices. The sale included a half share in an 809sqm leasehold site used for car parking down the road. Sold by Cameron Melhuish and James Chan, of Bayleys Auckland. 38 Whitaker Pl, Auckland CBD A vacant 225sqm freehold strata office floor was sold for $499,950, or $2222 per sqm. The floor had views across the Auckland Domain and included five carparks. Sold by Blair Chandler of Ray White Commercial. Unit B, 30 Vestey Dr, Mt Wellington A 540sqm modern tiltslab industrial building with a high stud warehouse and two levels of office has sold for $1.275m at a 7.2 per cent yield. The long-term tenant, Tronics NZ, had just renewed for another five years. Sold by James Hill, Sunil Bhana and Mike Houlker of Bayleys Auckland. Unit 9, 4 Kellow Pl, Wiri A 295sqm tilt-slab warehouse and office unit with four carparks was sold recently for $450,000 at an 8.4 per cent yield. The building, which is returning $38,000 net plus GST annually, is newly leased to Chivalry Training Providers for three years, with three rights of renewal. Sold by Clint Barber and Simon Andrews of Bayleys. TAURANGA 850 Cameron Rd Two investment units in a new commercial development opposite Tauranga Hospital have been sold to an investor at auction. Their low yields reflected the location, new buildings and quality tenants and lease terms, said brokers Simon Clark and Grant White of Colliers International. Unit 3, occupied by a pharmacy on a new eight-year lease, was sold for $765,000 at a 5.7 per cent yield; while Unit 4, tenanted by a cafe on an eight-year lease, sold for $911,000 at 5.6 per cent. 58A&B Main Rd, Katikati A 386sqm Betta Electrical store has sold at auction for $730,000 at a 7.5 per cent yield. The current tenant has been in occupation since 1999 and exercised a threeyear right of renewal in April 2013 at a net $55,000 per annum. Sold by Brendon & Lynn Bradley of Bayleys Tauranga.