A 36-unit motel in Block D within a new development of Lakewood Cambridge Shopping Centre has been leased to Haven Hospitality on a 35-year-term for $440,000 per annum net in a deal brokered by Pracy and Leon Johnson of Colliers.
Mangere plant
A steel manufacturing plant comprising 2112sq m of warehousing and 220sq m of offices on a 3733sq m site at 4 Waokauri Pl, Mangere, was sold for $4m at a 6.35 per cent yield through Dave Stanley and Jamsheed Sidhwa of Bayleys South Auckland. The property's longstanding owner-occupier has leased it back for six years.
Avondale character
A 1611 sq m two-level character building at 48 Rosebank Rd, Avondale, on an 1877sq m Town Centre zoned site with 32.5m height overlay was sold vacant for $3.3 m through Damien Bullick, Alan Haydock, Bayleys Auckland
Paraparaumu hostel
A 870sq m character guest house, operating as a hostel on a 644sq m beachfront site at 3 Marine Parade, Paraparaumu Beach, has sold by tender for $817,000 in a deal brokered by Dean Anderson of Colliers.
Rotorua motels
A 25-unit motel property on a 2548sq m freehold site with a floor area of 1560sq m at 1271 Ranolf St, Rotorua, has sold by negotiation to a private investor for $1.8m. Earning $146,000 net annually, the property features a thermally heated swimming pool plus two geothermal plunge pools and plenty of on-site parking. The deal was brokered by Mark Rendell and Mathew Gibbard of Colliers.
Penrose industrial
A 2792sq m industrial ex-distribution building on a freehold 4956sq m site with a large yard area at 3 Goodman Pl, Penrose, has been sold by private treaty to a private trust for $5,128,000 in a deal brokered Todd Kuzmich and Hamish West of Colliers.
Nelson Bridge St building
A 2741 sq m A-grade seismic-rated building on an 1452sq m site at 68-80 Bridge St, Nelson, leased to Noel Leeming and a gym on long-term leases, sold for $5.95m at a 7.07 per cent yield through Gill Ireland of Bayleys Nelson.
