Kerikeri's The Warehouse
A 4496sq m building purpose-built for The Warehouse in 2004 on a 1.4016ha site at 8 Kilnac Lane, Waipapa, Kerikeri has sold for $5,070,489 at an 8.1 per cent yield through Peter Gorton and Mike Houlker of Bayleys Auckland, and Steven McNally of Bayleys Northland. It has a six-year lease from August 2017 plus two three-year rights of renewal, with a portion of the landholding undeveloped.
Animal care provider
An immaculately refurbished 1075sq m industrial building on a 1915sq m site at 76 Ellice Rd, Wairau Valley, with 21 car parks sold for $3.45m at a 5.36 per cent yield through Scott Kirk and James Were, Bayleys Auckland. There is a new six-year lease to an animal care provider with fixed rent increases of four per cent every two years.
Tauriko Estate property
A 7752sq m industrial property at 52 Whakakake St, Tauriko Business Estate, has sold for $4,225,000, a yield of 5.8 per cent. The deal was brokered by Rob Schoeser and Simon Clark of Colliers' Tauranga office. Signed to a short-term lease, the property comprises a 2315sq m industrial facility with a high-stud workshop and 4300sq m of usable site space.
Manukau Cavendish unit
A 588sq m warehouse unit, at 132 Cavendish Dr, Manukau, renovated and reconfigured to provide two levels of showroom and office space, with 12 car parks has sold for $1.55m at a 6.46 per cent yield through Janak Darji, Tony Chaudhary, Amy Weng and Mike Marinkovich of Bayleys South Auckland. It is leased for eight months to Bath &Tile (NZ) Ltd from June 2018 with no rights of renewal.
Albany law office
A 571sq m office unit at 63 Apollo Dr, Albany, has sold for $2.7m. Unit B3 was sold by a private investor to owner-occupiers Goodwin Turner Commercial Lawyers. The deal was brokered by Janet Marshall and Nick Recordon of Colliers' North Shore office.
Eden Tce building
A 337 sq m standalone warehouse and office building on a 325sq m site at 19 Virginia Ave East, Eden Tce, has sold with vacant possession for $1.35m through Andrew Wallace and Cameron Melhuish of Bayleys Auckland City & Fringe division. It has a Mixed Use zoning with a 21m height overlay.
Tauranga First Ave commercial
A 922sq m commercial property with a 745sq m building at 100 First Ave, Tauranga, has sold for $2.4m, at a yield of 5.8 per cent, with 3.5 years to go on the lease. The deal was brokered by Duncan Woodhouse and Simon Clark of Colliers' Tauranga office.