A 225sq m Mixed Use zoned landholding at 1 Centre St, Freemans Bay, with a 280sq m character office/showroom building and three on-site carparks was sold with vacant possession for $2,050,000 by James Were of Bayleys' Auckland City and Fringe team.
Lunn Ave industrial building
A 3074 sq m industrial land holding, at 54 Lunn Avenue, Mt Wellington, home to a construction company on a three-year lease with rights of renewal until 2023, has sold for $3,260,000 representing a 4.6 per cent yield, through Sunil Bhana, James Hill and Mike Houlker of Bayleys Auckland. It has an extensively refurbished 612sq m two-level office building on the road frontage and a 358sq m rear adjoining workshop/storage area and associated yard. A low building site coverage of 31 per cent allows for future expansion.
Napier property to non-local
A Napier investment property has been sold to an out-of-town investor for $1.9 million at a yield of 6 per cent. The 1315sq m corner property at 1 Leyland St, Onekawa, is tenanted by BOC Gases with a 10-year lease, providing a steady income stream for the new investor. Colliers International commercial broker Kerry Geange says there high interest in the property nationally.
Marsden Point retail
A 275.4sq m retail premises with eight carparks at 78 Marsden Rd, Paihia, has been sold for $1,555,000 by Jimmy O'Brien of Colliers International and Peter Peeters from NAI Harcourts, with the sale price representing a yield of 9 per cent.
Nelson self-storage facility
A 2592sq m self-storage facility on a 6682sq m freehold property at 9-17 Green St, Tahunanui, Nelson, has been sold for $3,125,000 by Geoff Faulkner of Colliers International.
