Published 11 August 2011
Bob Dey Report
Bayleys sales agents have recently clocked up 8 sales around Albany, and yields have been firm across the agency’s sales list for North Shore property.
110 Apollo Drive, ground lessor’s interest in a 3800m2 site which has a service station & carwash; BP Oil NZ Ltd has a 9-year lease on the land until November 2015, with rights of renewal for a further 15 years, and also has an obligation to clear & restore the land, including decontamination, at the termination of its lease; sold for $2.4 million at a 5.4% yield (Don Partington, John Algie & Laurie Burt)
24 William Pickering Drive, unit D,1054m2 warehouse & office unit with 24 parking spaces, sold vacant for $1.41 million (Laurie Burt)
9 Piemark Drive, unit E, 702m2 warehouse & office unit with 12 parking spaces, sold to an owner occupier for $1.06 million (Matt Mimmack)
14 John Glenn Avenue, 3295m² vacant site with business 9 zoning in the North Harbour Industrial Estate, sold for $988,500 at $300/m²; a neighbouring 3102m² also sold for $950,000, or $306/m² (Laurie Burt, John Algie & Peta Laery)
3-5 Orbit Avenue, building G, 2 office units totalling 289m2 with 8 parking spaces, sold vacant for $960,000 (Alex Strever & Stephen Scott)
5 Orbit Avenue, building H, Apollo Technical Park unit with 87m2 of office, 42m2 storage & 2 parking spaces, occupied by Baby on the Move, sold for $420,000 at an 8.3% yield (Caleb Belling & Simon Aldridge)
4 Orbit Drive, Building F, 205m² office unit with 6 parking spaces, occupied by BSH Home Appliances, sold (price confidential) (Alex Strever & Damian Stephen)
6 Airborne Rd, unit 2,2-level 120m2 warehouse & office unit with 2 parking spaces, sold vacant for $305,000 (Alex Strever)
87-109 Clyde Rd, 1660m2 commercial complex in 2 strata titles containing 11 tenancies plus 30 internal parking spaces, on 2777m2; WINZ is the largest tenant and there also a number of food & beverages outlets in the complex, in the heart of the Browns Bay commercial area; the complex has apartments on top overlooking the reserve & beach; sold for $5.9 million at a 9.1% yield (John Jefferson)
1 & 1A Shakespeare Rd, corner of Kitchener Rd, 2 1970s commercial buildings totalling 500m2 occupied by Configure Gym and Fruit World, on a 1412m2 2-title site with redevelopment potential, sold for $2.43 million at a 7.2% yield (Ranjan Unka & Terry Kim)
74 Barrys Point Rd, 852m2 2-level building on 1189 m2 site with 15 parking spaces, occupied by 2001 Wetsuits & Performance Diver, sold for $1.395 million at a 7.4% yield (Claire Rawkins)
347-349 Lake Rd, 230m2 1960s-built single-level retail building, in 2 tenancies and anchored by the Hauraki Pharmacy, which renewed its lease for 4 years in April 2010, sold for $960,000 at an 8.2% yield (Claire Rawkins & Simon Aldridge).
5 Marken Place, 354m² 1980s industrial unit, 2-level roadfront unit has 236m² of warehouse, 73m² office & 45m² mezzanine, sold for $464,000 to owner occupier in the auto industry (Ranjan Unka & Greg Healey)
8 Kaimahi Rd, unit D, 278m² 2-level 1980s industrial unit with 6 parking spaces, sold vacant for $368,000 (Ranjan Unka, Greg Healey & Laurie Burt).