5 commercial sales for Bayleys

25 November 20
Bayley’s agents have signed up 5 sales in central isthmus suburbs.

589 Manukau Rd:
465m2 residential development site near Greenwoods Corner
Outcome: sold for $820,000 at $1763/m2 

242 Great South Rd:
 822m² of Residential 7A zoned land, with 184m2 bungalow leased to osteopath for 6 months from September 2014 with no rights of renewal
Rent: $60,000/year net + gst
Outcome:  sold for $2,207,000 at $2684/m2 for land

53 Nuffield St:
 190m² retail premises, 2 parking spaces
Rent: $76,760/year net + gst from 7-year lease from April 2013 to lingerie shop plus 6-year right of renewal
Outcome: sold for $1.45 million at a 5.3% yield

153-185 Broadway, unit 5B:
 recently refurbished 130m² retail premises on first floor of Rialto Shopping Centre, new 2-year lease to CK Miracle Ltd with no rights of renewal
Rent: $25,000/year net + gst
Outcome: sold for $250,000

6 Central Rd:
625m2 mixed-use corner site, 561m2 2-level commercial building with short-term holding income
Outcome: sold for $2 million at a 5.5% yield


Bob Dey

Posted in News & Articles | Leave a reply

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>