Around the block

$ 6 million Takapuna sale A fully leased refurbished 2283sq m building at 529 Lake Rd, Takapuna, in which AMI is the anchor tenant, was sold to a private investor for $ 6.35 million by Elaine Tutty of Barfoot & Thompson Commercial North Shore. Pukekohe gas and car site A property at 1- 17 Manukau Rd, Pukekohe, owned by Howeston Properties and tenanted by a Mobil service station and a Honda car dealership, has been sold at auction to a family investor for $ 3.515 million by Jason Woodyard of Barfoot & Thompson Commercial, Pukekohe, and Mike Adams of Bayleys, Auckland. With land of 2496sq mand buildings of 955.26sq mgenerating annual rental income of $ 253,000 plus GST, the sale represents a 7.2 per cent return. Napier Backpackers’ hostel A 50- bed, 682sq mBackpackers’ hostel on a 551sq mwaterfront site at 277 Marine Parade, Napier, has been sold as a going concern for $ 850,000 through Bill Brown and James Haggerty of Bayleys Hawkes Bay. East Tamaki offices Two office units totalling 256sq mon the upper floor of a modern 2- level building at 302 Te Irirangi Drive, East Tamaki have sold vacant for $ 530,000 through Brice Clark and Simon Andrews, Bayleys Manukau. A 3094sq mindustrial site with various small buildings and two road frontages at 13 Green St, Frankton, Hamilton, has been sold for $ 313,000 to an owner- occupier through Blair Hutcheson of Bayleys Hamilton. Bayleys’ latest round of Total Property auctions around the North Island has started strongly with a two- level commercial building in Palmerston North’s CBD selling under the hammer for $ 2.552 million at a 6.5 per cent yield. Karl Cameron of Bayleys Manawatu says the Broadway Ave property, which has new six- year leases to ASB and Vero, attracted phenomenal interest. Takanini bulk retail A 550sq mbulk retail building on an 883sq msite at 270 Great South Rd, Takanini, has sold to an owner occupier for $ 730,000 through Peter Mignouoff and Mike Ashton of Bayleys Counties.