A property in Herne Bay has been sold by JLL agent Alex Wefers. With a 832sq m floor area on a 491sq m site, 204-208 Jervois Rd is home to hospitality and office tenants. Earning $318,000 net pa, the property sold for $6.3m, a yield of 5 per cent.
Napier trade deals
A 6886sq m freehold warehouse/showroom and a 3982sq m partly leased industrial site at 78 Taradale Rd, Napier, and Lot 1, 32 Severn St, Napier, have sold as trade deals for $3m and $686,000 respectively in deals brokered by Danny Blair of Colliers International.
Paihia retail investment
A 1139sq m retail investment property at 68 Marsden Rd and 9 Williams Rd, Paihia, with a net income of $701,000pa has sold by deadline private treaty through Colliers International's Capital Markets and Site Sales teams. The property is a split-risk investment with 14 tenancies across two titles.
East Tamaki unit
An 819sq m industrial unit at 6C Lorien Place, East Tamaki, with exclusive use of a 900sq m concrete yard area, has sold for $2,215,000 through Mike Marinkovich of Bayleys South Auckland and James Hill, Bayleys Auckland. It has 760sq m of high-stud warehousing and 59sq m of office with holding income of $85,000pa.
Office/warehouse auctioned
A 930sq m industrial office/warehouse at 103A&B Harris Rd, East Tamaki, was sold by auction for $2,340,000 representing a yield of 5.72 per cent in a deal brokered by Jolyon Thompson and Jeremy Barnett of Colliers International
Cambridge commercial building
A 268sq m commercial building on a 309 sq m site at 20 Lake St, Cambridge, sold for $905,000 at a 5.3 per cent yield, following marketing by Blair Hutcheson of Bayleys Waikato. Following extensive refurbishment, it was leased to Resene Paints for three years from July 2016, with two three-year rights of renewal.
