Latest Auckland Commercial Sales

8 sales at Auckland Total Property auction
Friday 24 October 2014

8 properties were sold under the hammer at Bayleys’ Total Property auction in Auckland on Wednesday.

396 Queen St, shop 5:
Rent:
$80,000/year, lease of 12 years from 1 April 2014 with 12-year renewal
Outcome: passed in

396 Queen St, shops 9 & 17 and lot 5
Outcome:
withdrawn from auction

289 Onehunga Mall:
Features:
528m² unit, 18 secure parking spaces
Rent:
Outcome:
passed in

293-297 Ponsonby Rd:
Features:
366m² site, 170m² century-old retail building, 3 tenants, 2 on final renewal of leases that started in 1997 & 2002
Rent: $150,253/year + gst
Outcome: sold for $2.82 million at a 5.33% yield

49 Sainsbury Rd, unit 7
Features:
700m² 2-level warehouse & office unit, 14 parking spaces, leased to Wika Instruments for 6 years from June 2014
Rent: $140,000/year + gst
Outcome: sold for $1,888,000 at a 7.4% yield

49 Carr Rd:
Features:
809m² corner site, 734m² building currently used for food production, leased to Lincoln Bakery for one year from February 2014 with one-month termination clause
Rent: $7500/month
Outcome: sold for $1.21 million at a 7.4% yield

1652-1654 State Highway 1 Wellsford
Features:
3884m² site, 1187m² building occupied by Wharehine Ltd civil construction business, at southern entry to Wellsford
Rent:
Outcome:
passed in at $900,000

30 Anvil Rd Silverdale
Features:
1750m² site, 772m² purpose-built food-grade manufacturing building, occupied by pie-maker Jesters Manufacturing NZ Ltd on 4-year lease from June 2014
Rent: $115,000/year + gst + opex
Outcome: sold for $1.18 million at a 9.7% yield

639E Whangaparaoa Rd:
Features:
114m² commercial unit occupied by Subway,
Rent: $35055/year
Outcome: passed in at vendor bid of $480,000

84-90 Hillside Rd, unit E: Wairau Valley
Features:
480 floor area including office & amenities, existing use rights for a fitness centre
Rent: vacant
Outcome: sold for $581,000

151 Lincoln Rd, unit 4: Henderson
Features:
150m², new shop leased to Oporto
Rent: $55,000/year net
Outcome: withdrawn from auction
Agents: Matt Lee & James Chan

1-13 Railside Avenue, Henderson
Features:
1404m² site, 207m² roadfront retail, 54m² rear warehouse
Rent: $77,000/year net
Outcome: passed in.

33-35 Waipareira Avenue, unit C: Henderson
Features:
270m² warehouse, 45m² office & amenit
Rent:
Outcome:
passed in

3140 Great North Rd, New Lynn
Features:
150m² site with development potential, 80m² building occupied by Cash in a Flash on a lease with final expiry May 2018, next to Bunnings site under construction
Rent: $15,800/year + gst
Outcome: sold for $393,500

50 Stonedon Drive, unit 8: East Tamaki
Features:
211m² live/work unit in a new complex
Rent: $41,600/year + outgoings + gst from 2-year lease with one-year right of renewal
Outcome: no bid

682 Pakuranga Rd, Howick
Features:
10-unit motel plus 4-bedroom manager’s home & office on 1677m² site, sold as freehold going concern
Rent:
Outcome:
sold for $2.35 million

322 Hingaia Rd Karaka
Features:
1105m² commercially zoned site, vacant 140m² 3-bedroom villa plus 140m² takeaway/dairy
Rent: $20,800/year current, potential assed at $42,000/year
Outcome: sold for $560,000

33-35 O’Shannessey St. Papakura
Features:
2 shops & 4 2-bedroom apartments with onsite parking
Rent:
Outcome:
passed in

12 Cape Hill Rd. Pukekohe
Features:
3.2ha site, 6 well established tenants
Rent: $480,860/year + gst
Outcome: sole bid from vendor at $4.2 million

Attribution: Auction.

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>