Both commercial properties auctioned at Colliers yesterday were sold under the hammer.
The agents said the Onehunga property’s overall size and warehouse:office ratio was in huge demand from occupiers, with little to no supply in this size & price range, and it was under-rented.
34 Princes St:
Features: 627m² mixed-use site, 405m² net lettable area – warehouse 341m², office 63m², seismic rating 75% of new building standard
Rent: $43,000/year net + gst (under-rented)
Outcome: sold for $1.185 million
Agents: Ben Cockram & Hamish West
2 Bishop Dunn Place, unit 3:
Features: vacant 132m² ground-floor office fronting Te Irirangi Drive
Outcome: sold for $685,000
Agents: Matthew Barnes & Jeremy Barnett
Attribution: Auction documents.