Latest Commercial Sales-Bayleys



17 September 2014
Bayleys agents have completed 13 sales in the south-east & south of the Auckland region as they head into the next Total Property campaign, which will be launched on Friday

Botany South
2 Bishop Dunn Place,
unit 13:
125m² commercial unit with 2-year lease until June 2015 & 2 2-year rights of renewal
Outcome: sold for $370,000 at a 6.5% yield

East Tamaki
20 Accent Drive:
4000m² business 5-zoned site
Outcome: sold for $3,042,760 at $760/m²

33 Sir William Avenue, unit B:
947m² vacant industrial building – 631m² warehouse, 316m² office
Outcome: sold for $1.2 million

12M Andromeda Crescent:
229m² industrial unit – 136m² warehouse, 30m² office, 63m² first-floor apartment
Outcome: sold vacant for $365,000

41 Sir William Avenue, unit H:
150m² industrial unit – 130m² warehousing, 20m² office, with short-term lease
Outcome: sold for $240,000 at a 6% yield

14 Basalt Place, unit 7:
80m² industrial unit – 50m² warehouse, 30m² first-floor office
Outcome: sold vacant to an investor for $176,000

13 Ronwood Avenue:
1942m² site, 1238m² mid-1980s office building, 36 parking spaces, leased to 4 tenants but purchaser will occupy 312m² being vacated by one tenant
Outcome: sold for $3.1 million at an 8.05% yield

17 Lambie Drive, unit E:
700m² office floor, 32 parking spaces,
Rent: occupied by 2 tenants on new 6-year leases, initial rent $134,027/year with annual stepped increases up to $151,577/year in fourth year of leases
Outcome: sold for $1,894,712 at an initial 7.1% yield

9 Ryan Place, unit D:
262m² warehouse unit, 3-year lease from March 2014, with 2 3-year rights of renewal
Outcome: sold for $330,000 at an 8% yield

159A & 161 Russell Rd:
2 neighbouring childcare centres totalling 500m² on 1631m², occupied by one tenant on a 10-year lease from June 2013
Outcome: sold for $2,304,000 at a 7.55% yield

10 Dent Place, unit E:
200m² industrial unit
Outcome: sold vacant for $280,000

4 Marekedo Place, unit 7:
280m² warehouse
Outcome: sold vacant for $325,000

317 Great South Rd:
1791m² site, 540m² commercial building, 20 parking spaces, 2 short-term tenancies
Outcome: sold for $1,345,000 at a 5.3% yield

Attribution: Agency release.

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