Commercial Sales & Leasing

There is continuing evidence of enthusiastic  support for commercial property “syndication”. There are various types of syndication. Proportionate title is but one. Others include, units, company shares, partnerships, and syndicates proper etc. In general the goals are all the same : The coming together of a group of people for a common purpose- and in these cases  investment in commercial property.

“Published 1 December 2011

Colliers International has sold down an $8.65 million proportionate title offering on behalf of Cheryl Macaulay’s Commercial Investment Properties Ltd in less than 3 weeks.

The company offered 173 units of $50,000 each in Unitec Institute of Technology’s North Shore campus at Albany.

Colliers has also sold a Henderson retail property pre-auction and achieved a number of leases in the past fortnight.

Sales

Albany, 10 Rothwell Avenue, Unitec Institute of Technology North Shore campus, on behalf of Commercial Investment Properties Ltd (Cheryl Macaulay), 173 proportionate title units of $50,000 each sold out in 3 weeks for a total $8.65 million, offering projected 10% pretax cash returns/year with built-in rental growth of CPI + 2% (Tim Lichtenstein & Charlie Oscroft)

Henderson, 111 Lincoln Rd, 1139m² retail unit leased to Warehouse Stationery, sold to a private offshore investor before auction for $2.25 million at a 7% yield (Shoneet Chand & Deborah Dowling)

Leases

Newmarket, 5-7 Kingdon St, Bupa House, level 2, 340m², new 6-year lease to Soft Solutions Ltd (Chris Palmer)

Newmarket, 23 Davis Crescent, level 1, 530m² leased to Plumbline Ltd on behalf of NZPM Group Ltd (ex-NZ Plumbers’ Merchants Ltd) (Matt Lamb)

Ponsonby, 230 Ponsonby Rd, 930m² on behalf of a family trust to Flying Fish NZ Ltd (Matt Lamb & Sam Gallaugher)
East Tamaki, 2-8 Jarvis Way, 25,947m² of industrial space was leased by CV Jarvis Ltd to RoyalWolf Trading NZ Ltd on a 10-year l term (Dwayne Warby & Paul Jarvie)”

Source: Bob Dey Report

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