Around the block: Harcourts Parnell office

James Law, Rosh Daji and James Lee. Photo / Supplied

James Law, Rosh Daji and James Lee, are among the 35 multi-cultural staff members in a new Harcourts and NAI Harcourts office at 2 Heather St, Parnell. Harcourts New Zealand chief executive Hayden Duncan says a key focus for Harcourts is growth in the commercial property sector so he is delighted to welcome NZ International Realty to the group. The office formerly traded as Ray White Parnell and Ray White Commercial Parnell. Daji and Law have been appointed managing directors and Law will lead the office's commercial leasing team.

Tauranga bank building

A 620sq m two-level office building leased to TSB Bank on a high-profile 670sq m site on the corner of Wharf St and Willow St in Tauranga's CBD has sold at auction for $2.35 million. It was sold at an 8.1 per cent yield on net rental income of $190,458 by Rob Pinny of Bayleys Tauranga.

East Tamaki petrol station

Colliers International brokers James Thorburn and Paul Jarvie have sold a Caltex service station on behalf of Creations Group at 13 Springs Rd, East Tamaki. The 4987sq m property, which has a 15-year triple net lease that provides $174,000 annually, sold for $1.675 million.

Great North mixed use site

A 489sq m high-profile corner commercial site, with potential for mixed-use development, at 2033 Great North Rd, Avondale, has been sold for $422,000 through Tony Chaudhary of Bayleys Manukau. Occupied by a mechanic and cafe business with a lease until January 2012, it sold at a yield of 6.2 per cent on its net annual income of $26,000.

Hamilton retail building

A 410sq m one-level retail building at 2 Whatawhata Rd, Hamilton, was sold for $865,000 at an 8 per cent yield by Andrew Shaw of Bayleys Waikato.