Lincoln Rd units
A block of four new retail units (A11, A7, B5 & B4) ranging in size from 75-260sq m - at 301 Lincoln Rd, Henderson - have been sold individually at auction for a total price of $7,067,000 by Shoneet Chand, Peter Kermode and Craig Smith of Colliers International. Yields for individual units ranged from 4.9 to 6.1 per cent.
Otahuhu medical centre
A converted 138sq m residential dwelling occupied by a medical centre on a high profile 731sq m corner site 121 Church St, Otahuhu, zoned for terraced housing and apartments, sold prior to Bayleys Total Property auction for $933,000, at a 5.14 per cent yield - through Tony Chaudhary, Janak Darji and Amy Weng, Bayleys South Auckland. The auction was brought forward with a declared reserve of $800,000. The medical centre renewed its lease for five years in October 2015.
Tauranga retail, offices
Selling for $1,735,000 prior to a Bayleys Tauranga Total Property auction was a 680sq m retail and office building, anchored by a dental practice, on an 809sq m central CBD site at 12 Elizabeth St. Marketed by Lynn and Brendon Bradley, it sold at a 6.38 per cent yield on its leases to four tenants.
Mt Maunganui building
A 3867sq m commercial building on a freehold 6531sq m site at 8-14 Newton St, Mt Maunganui, has been sold for $5,310,000 by Simon Clark and Rob Schoeser of Colliers International. The sale price represented a yield of 5.97 per cent.
