Latest Commercial Sales

Mt Wellington
18 & 20 Hannigan Drive:
Features: 3630m² industrial complex comprising 10 fully leased 331-457m² high-stud warehouse & office units, each on its own unit title, on 5325m² site with 72 parking spaces
Rent: $313,855.50/year net + gst
Outcome: sold by tender for $4,876,500 at a 6.4% yield, with new owner intending to put the units, which have income growth potential, up for sale individually

Penrose
22A Greenpark Rd:
Features: 775m² warehouse unit, comprising 713m² high-stud, clearspan warehouse & a newly built 62m² office plus 15 parking spaces
Outcome: sold vacant for $930,000

Mt Albert
55 Sainsbury Rd:
Features: 82m² retail unit occupied by the fully licensed Crate Cafe for 3 years from 2012, with 2 3-year rights of renewal
Rental: $55,000/year
Outcome: sold post-auction for  $600,000 at a 9.2% yield

Warkworth
59 Woodcocks Rd:
Features: 2800m2 industrial building with factory, warehouse & offices on 1.3ha
Outcome: sold vacant for $2.35 million

Orewa
8 Moana Ave, unit N:
Features: 75m2 semi-retail unit in an established retail complex, leased on a 3-year term from March 2013 with one 3-year right of renewal to tattooist
Rent: $15,000/year net + gst
Outcome: sold for $200,000 at a 7.5% yield

Whangaparaoa
15 Karepiro Drive, unit 7:
Features: 82m2 corner unit in a retail convenience centre with 2-year lease to computer store from December 2013, plus 4 2-year rights of renewal
Rent: $24,000/year net + gst
Outcome: sold for $310,000 at a 7.75% yield

Bob Dey

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