LATEST COMMERCIAL SALES

151 Beach Rd City


Features: 1032m² site zoned strategic management area 2, 50m height limit under proposed unitary plan, 1829m² floor area on 2 levels
Rent: holding income of $278,212/year + gst
Outcome: sold to a developer for $6.8 million at $6589/m

X Gallery, 18-26 Wellesley St East:Features:
1032m2 site on Lorne St corner through to Khartoum Place, the 2712m2
X Gallery heritage building, refurbished into character retail & office space and fully leased to 12 tenants
Rent: $1.718 million + gst
Outcome: sold for confidential sums

Epsom 107 Great South Rd, unit C:
Features: 253m2 top floor of 3-level office building, leased for 4 years from February 2015 to tax advisors
Rent: $71,073/year net + gst
Outcome: sold for $1,040,013 at a 6.8% yield
Penrose 24 Greenpark Drive:
Features: 2704m² bare industrial site
Outcome: sold with vacant possession for $1.5 million at $623/m²

(Photo 9-13 Exmouth St)

9-13 Exmouth St:
Features: 1322m² site zoned mixed use, 2125m² warehouse leased back to the vendor for one year with 2 6-month rights of renewal
Rent: $285,000/year net + gst
Outcome: sold for $4.3 million at a 6.6% yield

75 France St South:
Features: refurbished 571m² 2-level office building with final 5-year right of renewal to German multinational Brentagg until May 2020
Rent: $130,000/year net + gst
Outcome: sold for $1.848 million at a 7% yield

Grey Lynn 252-258 Great North Rd:
Features: 1002m² development site zoned mixed use, 15m height limit increased to 16.5m under proposed Auckland unitary plan
Rent: holding income of $74,160/year expiring September 2016
Outcome: sold for a confidential sum

Herne Bay
6 Tweed St:
Features: 2 dwellings on a 2905m² site, one 1360m² containing Mollies boutique hotel & function centre, the other a 239m² villa, joined by a connecting hallway
Rent: lease over the larger building to operator of the Mollies business at $283,000/year net + gst
Outcome: sold for $9.5 million

Mt Eden 25, 27, 29 Altham Avenue:
Features: 1518m² development site in 3 equal titles, mixed use zoning under proposed unitary plan
Rent: holding income of $60,000/year net + gst from vehicle storage lease
Outcome: sold for $3 million

South of the Bombays

The Pukaki Centre, Rotorua.
1144 Pukaki St:
Features: 5-storey 3653m²  Pukaki Centre office building on 1711m² cbd site, fully leased to 7 predominantly government tenants
Outcome: sold site unseen for $5 million at an 8.7% yield to an American who has bought a number of high yielding regional properties through Bayleys

Waihi Beach 127 Emerton Rd:
Features: 7693m² site that was a former motel property converted to a permanent residential & holiday home & caravan complex, with licence-to-occupy income streams
Outcome: sold for $1.2 million

 

Wellington CBD, 76 Willis St:


Features: 655m² mixed use building on 275m² site, ground-floor retail, first-level café, third-level apartment
Rent: $248,824/year net + gst
Outcome: sold for $3.3 million at a 7.5% yield

 

Hataitai, 298-300 Evans Bay Parade:
Features: 2918m² site zoned business 1, 479m² building comprising 2 former dwellings with monthly lease to childcare centre licensed for 65 children

Canterbury
Hornby, 17 Halwyn Drive:
Features: 3404m² site, 1696m² modern industrial building, new 9-year lease to The Moving Co
Rent: $210,600/year net + gst
Outcome: sold for $3.009 million at a 7% yield

Attribution: Agency release (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>