Around the block
CBRE broker Matt Hockey says QBE Insurance has leased three floors at
125 Queen St — a 30-level 1980s building once the highest in the CBD. QBE Insurance is to take 2,166sq m over three levels (20 to 22) on a longterm lease, along with signage and naming rights. The property will be known as the QBE Centre. “It was essentially off the market for a decade, ahead of undergoing a major transformation and a re-launch in
2017,” says Hockey.
A workshop and storage unit complex of 21 units totalling 850sqm of buildings on a 1545sq m site at 8 Cherokee Pl, Mount Maunganui, has sold with a yield of 5.0 per cent prior to private treaty for $2,325,000. The deal was brokered by Rachel Emerson and Rob Schoeser of Colliers International, Tauranga.
Napier’s landmark former CPO building, now fully occupied by 12 retail and office tenancies, has sold for $8 million at a 6.89 per cent yield through Sam MacDonald, Bayleys Napier. Located on a 1554sq m site at 1 Dickens St, the three-level 3185 sq m art deco building underwent a three-year strengthening and refurbishment completed in 2014.
Two industrial warehouses of
2700sq m and 1498sq m on a site of
8248sq m with 52 car parking spaces at 69 Malden St, Palmerston North, has been leased to two tenants for a combined rental of $333,000 PA. The deal was brokered by Grant Lloyd, Doug Russell and Phil Nevill of Colliers International, Palmerston North. Remuera unit A 636 sq m office unit in the Ascot Office Park at 93 Ascot Ave, Remuera, with 17 car parks sold for $3.6 million at a 6.2 per cent yield through Ben Wallace, Bayleys Auckland. It has a six-year lease from February 2018.
An 830sq m retail property on a 1750sq m site with 19 car parks at 64 Carlyle St, Napier, has been sold off market by negotiation for $1,670,000. The deal was brokered by Dan Walker of Colliers, Hawkes Bay.
A 746sq m two-level commercial building on a 1067sq m site with Town Centre zoning and 17 car parks at the rear sold for $2.8 million at a 5 per cent yield through Janak Darji, Tony Chaudhary and Amy Weng, Bayleys South Auckland. It has been occupied by ANZ since the 1990s with its current lease running until April 2020 plus two three-year rights of renewal.
A 295sq m Caltex Service Station on a 3690sq m corner site at 1433 Dairy Flat Highway, Dairy Flat has been sold by Private Treaty to an Investor for $3,000,000. Caltex is an established tenant with a 20 year lease term from November 2013, fixed 2 yearly 4 per cent rental increases with a triple-net lease structure. The deal was brokered by Shoneet Chand, Matt Prentice and Sean Honeycombe of Colliers.
A 455sq m retail and office unit at 1/32 Constellation Dr, Rosedale, jointly occupied by Coffee Club and Meditation Tour Ltd has sold for $2.61 million at a 5.16 per cent yield through Terry Kim and Ranjan Unka, Bayleys North Shore Commercial.
A 210sq m Caltex Service Station on a 3093sq m freehold site on the main arterial route of 303-311 Western Hills Dr, Whangerei, has been sold by Private Treaty to a Private Investor for $3,460,000. Caltex is an established tenant with a 20 year lease term from November 2013, fixed 2 yearly 4 per cent rental increases with a triple-net lease structure. The deal was brokered by Shoneet Chand, Matt Prentice and Sean Honeycombe of Colliers International.
A 142sq m villa occupied by a medical related tenant on a 508sq m site at
185 Jervois Rd, Herne Bay, zoned Terraced Housing and Apartment Buildings, sold for $2.325 million at a
3.23 per cent yield through Scott Kirk and James Were of Bayleys Auckland City & Fringe division.
A 295sq m Caltex Service Station on a 3690sq m corner site at 1433 Dairy Flat Highway, Dairy Flat has been sold by Private Treaty to an Investor for $3,000,000. Caltex is an established tenant with a 20 year lease term from November 2013, fixed 2 yearly 4 per cent rental increases with a triple-net lease structure. The deal was brokered by Shoneet Chand, Matt Prentice and Sean Honeycombe of Colliers.