Commercial Sales Out Of Auckland

Bayleys has released the details of 17 commercial & industrial sales completed in South Auckland, the Waikato & Bay of Plenty.

Bob Dey Report


East Tamaki, 443 East Tamaki Drive, 1953m² industrial building on a 4488m² site, purchaser intends to establish a badminton centre in the building, sold vacant for $2.24 million (Mike Houlker, Sunil Bhana, David Gubb, John Bolton & Brice Clark)

Mt Wellington, 3 Rakino Way, 1256m² industrial building on 2203m², on a 4-year lease from August 2010 with 2-yearly rent reviews and 2×2-year right of renewal, 650m² of warehouse space & 605m² of office, sold for $1,688,000 at an 8.6% yield (David Gubb, Stuart Bode, Sunil Bhana & Mike Houlker)

Mt Wellington, 23 Hannigan Drive, 208m² modern industrial unit, 70m² office & 70m² clearspan warehousing plus 68m² mezzanine, sold vacant for $290,000 (James Valintine & Sunil Bhana)

Papakura, 98 Great South Rd, fully leased 623m² retail building on 981m² in the Roselands Shopping Centre, next to a refurbished Countdown supermarket, the property has 5 tenants with United Travel the largest, sold for $1.15 million at a 9.2% yield (Mike Ashton & Peter Migounoff)

Papatoetoe, 6 Grayson Avenue, 810m² vacant warehouse, 1019m² business 5-zoned site with 8 parking spaces, sold for $670,000 (Vivienne Lee, Bayleys Manukau, & Giles Were, Barfoot & Thompson)

Penrose, 293a Church St, 2 standalone tenanted industrial buildings totalling 1187m² on 1826m² site, both have a mix of medium-stud warehousing with office/showroom over 2 levels at the front and are leased to separate tenants on 2- & 3-year leases, sold to one investor for $1.44 million at a 7.7% yield (Mike Houlker & James Hill)

Wiri, 51 Ash Rd, unit 13, 145m² unit with 5 parking spaces, 85m² of office & 60m² of warehouse, sold vacant for $310,000 (Ben Bayley & Brice Clark)

South of the Bombays – Waikato

Cambridge, corner Alpha & Victoria Sts, 425m² 2-level bank building, on 653m² high profile site with off-street parking within the main shopping precinct of Cambridge, occupied by Westpac on 3-year lease from May 2010, with 2×3-year right of renewal, sold at auction for $1.3 million at a 6% yield (Blair Hutcheson)

Hamilton, 190 Collingwood St, 280m² 2-storey 1920s villa configured for business use with 6 offices, boardroom & reception area, on 961m² site on the western fringe of the cbd, sold for $560,000 with vacant possession (Basil Lennan)

Hamilton, Te Rapa, 3 Maui St, 3067m² bulk retail complex on 6930m², with high profile frontage  to Te Rapa Rd (State Highway 1) & Church Rd, occupied by Kitchen House, Tile NZ & Early Settler on varying lease terms, sold for $5.5 million at a 9% yield (Andrew Shaw, Stuart Bode & James Chan)

Mercer, 590 Komeroa Rd, 14.7ha containing private airfield, large aviation hangar, self-catering accommodation block, an office area, utility buildings & 2 homes, sold for $810,000 (David Gubb & Rex Gazzard)

Paeroa, 2 Seymour St, landmark 444m² L&P building on 2546m² site in high-profile position on State Highway 2, 10-year lease to Paeroa Café & Bar Ltd expires October 2013, with 1×10-year right of renewal, sold for $860,000 at an 11.2% yield (Brendon & Lynn Bradley)

Tokoroa, 291-293 Mannering St, 268m² long established medical centre on 402m², 2-year lease to Primary Health Care Ltd until November 2012, with 1×2-year right of renewal, and 2 smaller vacant tenancies, sold for $240,000 at an 11.7% yield (Brendon Bradley)

South of the Bombays – Bay of Plenty

Katikati, 11 Earl Drive, 1013m² vacant single-span warehouse with 6-8 m stud, includes 130m² of office space & staff amenities and security-fenced concrete side yard, sold for $820,000 (Brendon & Lynn Bradley)

Mt Maunganui, 10 Aeropark Way, 1097m² warehouse with 3000kg gantry crane on 2418m², 5-year lease to earthworks & clothing company Clothier Group until August 2015, with 2×3-year right of renewal, sold for $1.23 million at a 9.7% yield (Rob Pinny)

Rotorua, 228 Te Ngae Rd, 730m² high-stud industrial building on 2902m² site, with high profile frontage to State Highway 30, assessed market rent $65,000/year, sold for $705,000 with vacant possession (Mark Rendell & Bill Wilson)

Rotorua, Eastgate Business Park, Te Huaki Crescent, lot 27, 2631m² vacant industrial development site opposite Rotorua’s international airport, sold for $395,000, or $150/m² (Bill Wilson)



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