Modern Parnell building
A modern 616 sq m building with three levels of office space and two levels of underground parking with 20 car parks on a 280 sq m Mixed Use zoned site at 17 Falcon St, Parnell, was sold for $3.5 million through Sunil Bhana, Cameron Melhuish and Mike Houlker of Bayleys Auckland. Featured in Bayleys' Total Property portfolio, the building has two tenants on three-year leases producing net annual rental income of $138,164 plus GST and 138 sq m of vacant ground floor space.
Great North Rd retail sales
Four retail properties at 4034-4038 Great North Rd, Auckland, were sold at auction by Charlie Oscroft, Shoneet Chand and Deborah Dowling of Colliers International. The first, a 68.55 sq m premises tenanted by Bruce Lee Sushi, sold for $635,000, representing a yield of 4.68 per cent. The second, an 88.68 sq m premises leased by Pita Pit, sold for $800,000, representing a yield of 4.7 per cent. The third, a 124.48 sq m premises rented by Arum Café, sold for $910,000, representing a yield of 5.5 per cent. The fourth, a 392.91 sq m premises leased by Snap Fitness, sold for $1.825 million, representing a yield of 7 per cent.
College Hill Moto Systems site
