Queen St retail unit
A 260 sq m prime retail unit at 99A Queen St in Auckland's CBD has sold for $6,660,000 at a 6.07 per cent yield through Alan Haydock and Damien Bullick of Bayleys Auckland. The unit is leased to eyeware retailer Oakley South Pacific Pty for 10 years from 2008, with one five year right of renewal and annual rent reviews to the Comsumer Price Index (CPI) plus 1.5 per cent.
Big sales by Whillans
Whillans Realty Group has celebrated Independence Day by announcing three big sales.
Blair Chandler sold a 3072 sq m Auckland CBD site at 35 Whitaker Place for $14.1 million equivalent to $4589 per sq m. The lot has resource consent for a 25,490 sq m gross floor area twin tower scheme housing 1082 student beds. Bruce Whillans sold a large 3478 sq m redevelopment site formally occupied by Monaco Motors at 251-253 Great South Rd, Greenlane, for $7.75 million or the equivalent of $2228 per sq m for the land and buildings. Whillans also teamed with Ash Hira to sell a 3865 sq m Bunnings store on a 6783 sq m waterfront site in New Plymouth's CBD for $5.35 million representing a 7.47 per cent yield. The store was sold with a new six year lease, fixed rental growth and two further rights of renewal of three years each.
Church buys warehouse
