Archive | Nelson

One Mill Liquor building sold at portfolio auction, one prior

Colliers International held an unusual auction yesterday – 4 properties (another sold prior) spread around the country, no bidders in the Auckland auction room, all done on phone bids. 4 of the 5 properties have The Mill Liquorsave as tenant and one sold under the hammer.

South of the Bombays


11 Willoughby St:
Rent: $90,000/year net, rent review mid-2015, 2 rights of renewal from July 2018
Outcome: sold prior for $1.52 million
Agent: Alan Pracy

Havelock North

19 Napier Rd:
Features: 814m² site, 360m² building, NBS rating 69%
Rent: $66,000/year net, rent review July 2015, 2 rights of renewal from 2018
Outcome: passed in at vendor bid of $875,000
Agents: Alan Pracy & Danny Blair


140 Kapiti Rd, unit 3:
Features: 526m² building – showroom 333m², warehouse 40m², mezzanine/office 153m², NBS rating 71%
Rent: $55,000/year net, rent review mid-2015, 2 rights of renewal from 2018
Outcome: sold for $720,000
Agents: Alan Pracy & Dean Anderson

Te Awamutu

121 Sloane St:
Features: 1753m² site, 399m² building
Rent: $45,000/year net, 2 rights of renewal from May 2017
Outcome: passed in at vendor bid of $575,000
Agent: Alan Pracy

South Island


675 Main Rd, unit 4:
Features: 351m² site, 349m² floor area
Rent: $61,700/year net, 3-yearly rent reviews, 2 rights of renewal from July 2018
Outcome: passed in at $725,000
Agents: Alan Pracy & Geoff Faulkner

Attribution: Auction.

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Nelson retail & office sale

Local details from Bayleys Real Estate’s spring Total Property auction series:

Published 7 October 2007Nelson:

Nelson, 200 Hardy St, 2-level 554m² commercial building containing ground-floor retail and first-floor office, returning $95,480/year from a diverse range of tenants, sold for $1.31 million at a 7.3% yield (Trish Gearie & Tony Vining)

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Attribution: Bayleys, story written by Bob Dey for this website.

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Hirequip sale at 7.2%

Stoke, Quarantine Rd, Hirequip property, 1200m² of building on 5904m² site, 9-year leaseback, returning $174,000, sold through Bayleys for $2.4 million at 7.23% along with the New Plymouth Hirequip property to a joint venture in which Hirequip director & shareholder Stuart McKinlay holds a 50% interest. Sales: Graeme & Tony Vining.

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