Around the block
JLL NZ’s Valuations & Advisory team continues to grow as the company announced a new appointment this week. Formerly based in London for JLL UK, Paul Ben-Nathan, pictured, will be Director of Alternatives in NZ, a sector that includes retirement villages, data centres, carpark buildings, and self-storage facilities. Ben-Nathan worked with JLL UK for more than four years as head of Alternatives.
Rural expansion
Colliers International is expanding its rural and agribusiness service line with a new office in Katikati. It is led by general manager Richard Graham and provides rural brokerage services with a focus on the farm, lifestyle and orchard markets.
Office and retail property sells for $2.6m
A fully leased office and retail investment property with eight tenants at 3 Milford Road sold for $2.603 million, at a yield of 5 per cent. The freehold property comprises a two-level, 378sq m building on a 445sq m site with eight car parks and business town centre zoning under Auckland’s Unitary Plan. The sale was brokered by Janet Marshall, Euan Stratton and Sean Honeycombe of Colliers International North Shore.
Bulk retail unit sells for $1.19m
A 335sq m bulk retail unit with shop, walk-in chiller, rear loading area and roller door on corner site at 15/160-170 Wairau Rd, Wairau Valley, sold by negotiation for $1.19 million at a 7.14 per cent yield by Adam Watton, Adam Curtis and James Yu, Bayleys North Shore.
Refurbished office
A 321sq m recently refurbished office with 162sq m warehouse or carparking at 26A Crummer Rd, Grey Lynn, sold with vacant possession by negotiation for $1.83 million by James Were and Scott Kirk, Bayleys Auckland.
Office unit snapped up for $1.25m
A 278sq m strata titled office unit on Auckland’s North Shore sold with vacant possession for $1.253 million. The private treaty sale of B3, 34 Triton Road, Rosedale was brokered by Janet Marshall and Kerry Cook of Colliers International North Shore.
Development land in Gisborne
A 5.31ha block of industrial development land in Gisborne, planted in a seasonal crop, sold at auction for $1.05 million. The property at 48 Dunstan Road is zoned Rural Industrial B, which allows for subdivision down to 2ha and a wide variety of permitted uses. The deal was brokered by Philip Searle of Colliers International Gisborne.
Vacant commercial building
A 3167sq m vacant commercial landholding at 46 Ashley Place, Papamoa, sold for $1.456 million. The off-market sale by negotiation was brokered by Rich Davidson of Colliers International Tauranga.
$2.34m at a 5.13 per cent yield
A 724sq m refurbished office and showroom premises with 24 stacked carparks at 772 Great South Rd, Penrose, sold for $2.34 million at a 5.13 per cent yield by James Were, Scott Kirk & James Valintine, Bayleys Auckland.
$1.95m for industrial unit
A 495sq m industrial unit and small fenced side yard at 20/114 Wiri Station Rd, Wiri sold for $1.95 million by Mike Marinkovich, Bayleys South Auckland, and James Hill, Bayleys Auckland. This property is stage one of a development where 30-units are planned.
Orchard and home
A 4.13ha rural property comprising 2.64ha kiwifruit orchard, horticultural infrastructure and 173sq m three-bedroom home sold by negotiation at 560 Belk Rd, Tauranga for $2.11 million by Phil Mangos, Bayleys Tauranga.