Recent Deals for Saturday March 16

This industrial complex at 14 Bowden Rd, Mt Wellington, sold for $5.3m. Photo / Supplied

Mt Wellington industrial complex

A 2823sq m industrial complex on a 4765sq m site, at 14 Bowden Rd, Mt Wellington, with exposure to the Southeastern arterial route, sold for $5.3m at a 5.75per cent yield, through Sunil Bhana and James Valintine of Bayleys. Seeka Kiwifruit, in occupation since 2005, has a long-term lease.

Dunedin's Stoneleigh Estate

Colliers International has brokered the sale and leaseback of a new design-build property in Dunedin's Stoneleigh Estate industrial subdivision. The 7435sq m property at Lot 1, 2 Townleys Rd, Kaikorai Valley, was sold for $3.2m - a yield of 7.8 per cent, in a transaction brokered by Dean Collins. Only one more site within the subdivision remains available for purchase.

Takapuna mixed-use site

A 1126sq m site at 19 and 21 Taharoto Rd, Takapuna, zoned for mixed-use development up to four-levels, has sold vacant for $3.95m, at a land price of $3508 per sq m through Eddie Zhong of Bayleys. Two dwellings are converted for office use.

Hub on Cameron office

A first-floor office investment property in Tauranga has sold prior to auction for $2.69m, at a yield of 5.6 per cent. Unit 3 at The Hub on Cameron, 525 Cameron Rd, comprises a 402sq m office suite, plus 10 secure basement car parks, on long-term lease to anchor tenant, Holland Beckett Solicitors. The deal was brokered by Rachel Emerson and Simon Clark of Colliers.

Mt Maunganui corner

An 800sq m corner site at 33 Totara St, Mt Maunganui, with a vacant 534sq m two-level office building was sold for $3.5m at a Bayleys' Total Property auction, through Brendon, Lynn and Ryan Bradley. The site has potential for multi-level mixed use redevelopment.

Sandringham split-risk retail

A split-risk retail investment property at 575/579 Sandringham Rd, has sold at auction for $1.8m, at a yield of 4 per cent. It comprises a two-level, 307sq m building on a 375sq m freehold site, with six off-street car parks. The deal was brokered by Simon Child, Gawan Bakshi and Ned Gow of Colliers.

Levin's RJ's Licorice

A 4077sq m building on an 8754sq m industrial site at 5-13 Tiro Tiro Rd, Levin, housing RJ's Licorice (NZ), was sold by Stephen Lange for $3.31m at a 6.49 per cent yield at a Bayleys Wellington Total Property auction. It has a nine-year lease from July 2017.

Takanini auction sale

A warehouse/showroom and offices fronting on to Great South Rd, Takanini, has sold at auction for $1.36m, at a yield of 5.82 per cent. Unit 5, 4 Graham Rd, comprises a 592sq m unit on a new six-year lease to an established plumbing company. The deal was brokered by Jolyon Thomson and Chris Wakim of Colliers.

East Tamaki vacant unit

A 334sq m industrial unit at 108 Harris Rd, East Tamaki, sold vacant for $1,175,000 through Roy Rudolph, John Bolton, Katie Wu, Bayleys South Auckland. It has 283sq m of high-stud, clear-span warehousing plus 51sq m of offices and amenities.

Tauranga city fringe

A standalone office and showroom, at 23 Brown St, Tauranga, has sold at auction with vacant possession for $1.9m. The property comprises a 270sq m two-level building, on a high-profile 858sq m freehold site. The deal was brokered by Simon Clark and Duncan Woodhouse of Colliers.