Around the block

Agribusiness Star

Wyatt Johnston was named Emerging Talent 2019 at the recent University of Auckland Department of Property Awards. A negotiator in CBRE’s Agribusiness team,

Johnston transacts forestry, horticulture, farmland and quarrying assets throughout New Zealand.

Cambridge retail

A fully leased, multi-tenanted commercial property on the zerovacancy Cambridge retail strip sold at auction for $2,185,000, at a yield of 5.8 per cent. The two-level retail-office property 55-57 Victoria St with six tenants, was marketed by Justin Oliver, David Palmer and Peter Scammell of Colliers International.

Hobsonville site

A 35,135sq m bare site at 92 Hobsonville Rd, has been purchased by an owner occupier for $10m at $284 per sq m. A new freehold title has just been issued for the land, zoned Light Industry, which was sold by Bayleys’ Stuart Bode and Mike Bradshaw.

Northmall Subway

A 125sq m retail unit at Hamilton’s Northmall shopping complex, with Subway as a long-term tenant, has sold at auction for $910,000, representing a yield of 5.3 per cent. The sale of Unit 18, 53 Ulster St, Hamilton, was transacted Justin Oliver and David Palmer of Colliers.

Hopetoun Alpha

A 1388sq m site in two titles at

15-27 Beresford Square, Central Auckland, containing the 142-yearold Hopetoun Alpha hall has been sold for $4m through Bayleys’ Alan Haydock and Damien Bullick. Hopetoun Alpha was extensively refurbished by the vendor the Ashton Wylie Charitable Trust and has a New Zealand Historic Places Grade 1 classification. The balance of the site is leased for parking.

Bell Block warehouse

A 2990sq m industrial property comprising a warehouse and office at 9 Corbett Rd, New Plymouth, has sold for $1,025,000 at a yield of 6.6 per cent. The deal was brokered by Benet Carroll, Colliers International New Plymouth.

Epsom ground lease

The lessor’s interest in 1479sq m of Mixed Use zoned land at 58-60 Market Rd, Epsom, has been sold for $2.95m at a 4.75 per cent yield by Bayleys’ Alan Haydock and Damien Bullick. It has a perpetually renewable ground lease which can be terminated by the lessor with six months’ notice. The site, alongside the southern motorway, is occupied by the lessee’s business, The Pool People. Rent is reviewed every-five-years, at 6.5 per cent of the unimproved land value.

Ohakune motel

The 808sq m 21-unit Ohakune Court Motel, on a 2,288sqm site at

101 Goldfinch St, has sold at a Bayleys’ Total Property auction for $1,406,000, at a 7.7 per cent yield, through Nicolas Ching, James Chan, Tony Chaudhary and Jenny Dekker. The motel business has a

30-year lease from December

2014.

Manukau retail

A 120sq m retail unit at 130 Dawson Rd, Manukau, sold at auction for $781,000, including GST, at a 5.51 per cent yield through Geoff Wyatt, Nick Bayley, Tony Chaudhary, Bayleys South Auckland. It is occupied by Kiwibank & NZ Post franchisee Rattan Gifts & Paper Ltd for 15 years, with a current fiveyear lease until May 2022.

Otago dairy farm

Colliers’ Ruth Hodges and Richard O’Sullivan have brokered the sale at auction of a 288.13ha dairy farm near Oamaru for $3.9m plus GST. The property at 447 Conlans Rd, Duntroon, has many modern improvements including a fully automated 50-bale rotary shed, three houses, a modern effluent system and a newly completed irrigation development.

Gisborne orchard

A certified organic orange, persimmon and kiwifruit orchard at

24 Whakatere Rd, Gisborne, has sold for $3.9m. The sale of the

11.47ha property, which includes a

170sq m residence, was brokered by Rural and Agribusiness specialists David Egan and Alan Thorpe of Colliers International Gisborne.