Archive | Waikato

Retail units sell on Broadway and in Hamilton & Hastings

Colliers agents have sold 2 ground-floor retail units at 255 Broadway in Newmarket (pictured), and 2 retail properties in Hamilton & Hastings.

Isthmus east

Newmarket

255 Broadway, unit G2:
Features: 508m² retail unit, 9-year lease to Macpac Ltd runs until 2023, includes 4%/year fixed increases
Rent: $390,000/year net + gst     
Outcome: sold to a Christchurch-based investor for $6.725 million at a 6.25% yield
Agents: John Davies & David Burley

255 Broadway, unit 3:
Features: 106m² retail unit, leased to Partridge Jewellers
Outcome: sold to an offshore investor for $4.58 million at a 4.5% yield
Agents: John Davies & David Burley

South of the Bombays

Hawke’s Bay

Hastings

905 Heretaunga St West:
Features: 1039m² site, 500m² retail development, 3 tenants, 10 parking spaces
Rent: $101,242/year net + gst
Outcome: sold for $1.3 million at a 7.8% yield
Agent: Danny Blair

Waikato

Hamilton

265 Clyde St:
Features: 1.2276ha site, 5446m² shop tenanted by The Warehouse
Rent: $650,000/year net + gst     
Outcome: sold for $8.55 million + gst at a 7.6% yield
Agents: Mark Brunton & Alan Pracy

Attribution: Agency release.

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5 sales south of Bombays

Bayleys agents have recorded 5 sales in the Waikato and coastal Bay of Plenty.

South of the Bombays

Bay of Plenty

Mt Maunganui

260-272 Maunganui Rd (pictured):
Features: 2849m² commercial corner site in 2 titles at southern end of cbd, 2 buildings totalling 1802m²; multi-tenanted with a mix of national & local businesses
Rent $252,302/year net + gst
Outcome: sold for $7.1 million at a 3.69% yield
Agents: Brendon & Lynn Bradley

Papamoa

61 Te Okuroa Drive:
Features: 3288m² site, 1114m² industrial building, 25 parking spaces; national tenant Northpower Ltd has taken a 2-year leaseback term
Rent $150,219/year net + gst
Outcome: sold for $2.105 million at a 6% yield
Agents: Brendon & Lynn Bradley

Tauranga

Tauriko Business Estate, lot 360:
Features: largest land transaction to date in this industrial estate, comprising 6.3762ha with services in place; bought by Mt Maunganui-based Jace Investments Ltd, which intends to progressively develop the site for a largescale post-harvest kiwifruit facility
Outcome: sold for $12,543,840
Agents: Brendon & Lynn Bradley, Lloyd Davidson

Waikato

Cambridge, Hautapu

47 Alwill Drive:
Features: 4410m² site, 1775m² modern high-stud workshop & warehouse, 5-tonne gantry crane, 2 levels of adjoining offices & amenities of 280m²; 4-year lease to Glasslines NZ from this month, 4 4-year rights of renewal
Rent $ $228,000 pa/year net + gst
Outcome: sold for $3.61 million at a 6.3% yield
Agent: Blair Hutcheson

Hamilton, Frankton

51 Killarney Rd:
Features: 1437m² site on corner of Alice St, recently refurbished 411m² Challenge service station & tyre workshop
Rent $82,000/year net + gst
Outcome: sold for $1.315 million at a 6.23% yield
Agents: Tony Chaudhary & Blair Hutcheson

Attribution: Agency release.

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8 properties sell at Bayleys’ southern auctions

8 North Island properties south of Auckland were sold in Bayleys’ Total Property auction series last week.

Image above: The Turners Auto building in Palmerston North, including the Workshop bar, sold last week on a 6.4% yield.

Bay of Plenty – Rotorua

Fairy Springs

153 Fairy Springs Rd:
Features: 1184m² site opposite Skyline Skyrides – 86m² showroom, 130m² 3-bedroom house plus 72m² workshop/garage
Outcome: sold with vacant possession for $580,000
Agents: Mark Slade & Brei Gudsell

Westbrook

320 Malfroy Rd:
Features: 3039m² commercial site, 502m² building split into 2 tenancies, education facility & dance studio, on 2- & 3-year leases
Rent $60,000/year net + gst
Outcome: sold for $650,000 at a 9.23% yield
Agents: Mark Slade & Brei Gudsell

Manawatu

Palmerston North

201-203 John F Kennedy Drive:
Features:  7454m² corner site, recently refurbished 2440m² warehouse & commercial building; anchor tenant NZX-listed Turners Auto has been in occupation for 19 years and renewed last July for 9 years; 392m² Workshop bar is the other occupant on 6-year lease from December 2016  
Outcome: sold for $3.855 million at a 6.4% yield
Agents: Dave & Kate Looney

Waikato

Te Awamutu

61 Bruce Berquist Drive:
Features: 4732m² industrial site occupied by longstanding storage business, 132 units totalling 1520m² leased to over 100 tenants
Rent $192,000/year net + gst
Outcome: sold for $2.52 million at a 7.62% yield
Agent: Andrew Shaw

Te Rapa

31 McKee St:
Features: 1990m² industrial site, 661m² of modern buildings, 3 long-term tenants
Rent $90,973/year net + gst
Outcome: sold for $1.51 million at a 6.02% yield
Agent: Andrew Shaw

Wellington – Lower Hutt

Alicetown

15 Wakefield St:
Features: 769m² site, 792m² high stud, column-free warehouse by the Dowse Interchange, holding income from lease expiring 31 January 2018
Rent: $70,000/year gross + gst
Outcome: sold for $450,000
Agents: Paul Cudby & Matt Gibbs

Naenae

12 Horlor St:
Features: 406m² site, 393m² 1950s industrial building with good seismic rating plus 5 parking spaces; 296m² ground-floor warehouse/workshop, showroom plus 97m² mezzanine office
Rent: estimated potential income of $39,725/year net + gst
Outcome: sold with vacant possession for $480,000
Agent: Paul Cudby

Petone

10 Te Puni St:
Features: 2130m² site adjacent to new Rebel Sports and Briscoes stores in Petone West’s growing bulk retail precinct, 1503m² high stud warehouse, office & showroom building, leased to 3 tenants with final lease expiries from 2018-20
Rent: $146,401/year net + gst (estimated full market rental $207,299 year net + gst)
Outcome: sold for $2.394 million at a 6.1% yield
Agents: Matt Gibbs & Fraser Press

Attribution: Agency release.

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Visy to build 3ha facility at Titanium Park

Packaging & recycling business Visy Board (NZ) Ltd has confirmed it will invest $100 million in a 3ha facility on an 8.5ha site in the Western Precinct of Titanium Park, next to Hamilton Airport.

Visy, owned by Pratt Consolidated Holdings Pty Ltd of Melbourne, has one other packaging plant in New Zealand, at Wiri in Auckland.

The 22ha Western Precinct is being delivered by Titanium Park Development Ltd, a joint venture between McConnell Developments Holdings Ltd & Todd Property Group Ltd.

2 other freehold sites in the precinct have been sold and a 1.5ha site is under contract, leaving 10ha available. Lot boundaries are flexible, and McConnell Property general manager Nigel Richards said the subdivision had natural gas on tap, business-friendly zoning & an absence of development contributions.

He expects works on the key spine road into the precinct to be completed by September, linking to the adjoining state highways 3 & 21.

Titanium Park is a masterplanned business park surrounding Hamilton airport, which allows it to offer unique zoning & resource consent process, ease of access and flexibility around lot sizes & usage.

The 117ha business park has been divided into 6 precincts, with the initial development focused on the Central, Raynes & Western Precincts.

Link: Titanium Park

Earlier story:
11 March 2009: Green light for Titanium Park at Hamilton Airport

Attribution: Company release.

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12 Total Property auction sales south of Auckland

All 6 properties in Bayleys’ third Wellington Total Property auction for the year were sold under the hammer on Thursday, and another 6 on the Coromandel, Waikato & Rotorua were sold.

South of the Bombays

Coromandel

243 Colville Rd (pictured above):
Features: Shelly Beach campground, 5.0627ha beachfront site operating under Top 10 Holiday Park brand, 5km from Coromandel township, comprising a variety of camping facilities plus manager’s accommodation & house
Outcome: sold as freehold going concern for $3 million
Agents: Josh Smith & Belinda Sammons

Thames

458 Pollen St:
Features: 2836m2 mainstreet site, Mitre 10 the anchor occupant, 1659m2 of buildings earthquake strengthened to over 67% of new building standard, various lease terms to Mitre 10 running to 2021 with renewal rights, plus small upstairs office lease to Home IT Solutions
Rent: $145,500/year net + gst
Outcome: sold for $2.165 million at a 6.7% yield.
Agents: Josh Smith & Mary Walker

Rotorua

Mangakakahi

81 Pururu St:
Features: 1012m2 industrial site, large yard area, 471m2 high-stud warehouse & office building previously split into 2 tenancies
Outcome: sold vacant for $401,000
Agents: Mark Slade & Brei Gudsell

Waikato

Paeroa

56 Grey St:
Features: 9800m² site, 1150m² ex-bulk petfood-processing facility
Outcome: sold vacant for $1.2 million
Agent: Josh Smith

7 Station Rd:
Features: High-exposure 1062m2 corner site with 900m2 warehouse/factory, ex Lemon & Paeroa bottling plant
Outcome: sold vacant for $420,000
Agent: Josh Smith

Te Awamutu

355 Rickit Rd:
Features: 653m2 road-frontage site, 410m2 building, fully leased to 2 established electrical tenants
Rent: $56,000/year net + gst
Outcome: sold for $760,000 at a 7.4% yield
Agents: Alex ten Hove & Mike Swanson

Wairarapa

Masterton

5 Albert St:
Features: strengthened & refurbished 1356m² commercial building, 1006m² of mostly office space leased to Department of Corrections for 9 years from October 2015, 350m² at the front of the building is vacant
Rent: $118,216/year net + gst
Outcome: sold for $1.275 million
Agents: Andrew Smith, John Pritchard & Dave Wish

Wellington

Lower Hutt

444 Cuba St, Lower Hutt.

444 Cuba St:
Features: 1295m² corner site, 300m² rear parking & yard area, high-stud 1100m² refurbished retail building, Hunting & Fishing in occupation for over 20 years, current 6-year lease from October 2014 plus one 4-year right of renewal
Rent: $86,800/year net + gst
Outcome: sold for $975,000 at an 8.9% yield
Agent: Mark Sherlock

MacKay House, 92 Queens Drive, level 2:
Features: 326m² office floor needing renovation, in 1960s building adjacent to Queensgate Mall, part leased to 2 tenants, two-thirds vacant
Rent: $31,500/year gross + gst
Outcome: sold for $50,000
Agents: Paul Cudby & Andrew Smith

Ngauranga

17 Glover St:
Features: 603m2 business 2-zoned narrow, bare site, 300m2 flat usable area, excavation required for greater footprint, concept plans for 270m2 warehouse
Outcome: sold for $280,000 at $464/m2
Agents: Matt Gibbs & Fraser Press

2 Hartham Place South, Porirua.

Porirua

2 Hartham Place South:
Features: 380m², 2-level cbd commercial building, tenant parking at rear, ground floor leased to Pacific Radiology, first floor occupied by law firm & physiotherapist with leases until 2019 & 2020 plus rights of renewal
Rent: $50,350/year net + gst
Outcome: sold for $712,000 at a 7.1% yield
Agent: Jon Pottinger

Waikanae

108 Main Rd:
Features: 161m² purpose-built dental surgery on 1019m² residentially zoned site with large parking area, 5-year lease to Lumino the Dentist from October 2016, with one 5-year right of renewal
Rent: $33,280/year net + gst
Outcome: sold for $582,000 at a 5.72% yield
Agents: Jon Pottinger & Stephen Lange

Attribution: Agency release.

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3 commercial sales at Wairau Valley, Te Rapa & Waikanae

Colliers has reported 3 sales around the North Island – a former gym, now office & warehouse, in the Wairau Valley (pictured) and properties at Te Rapa outside Hamilton and Waikanae outside Wellington.

North-east

Wairau Valley

6 Target Court:
Features: 3265m² industrial site, 1182m² floor area, originally a gym, now an office & warehouse, 28 parking spaces
Rent: $214,399/year net + gst holding income until 30 November from departing tenant
Outcome: asking $3.37 million, sold for $3.2 million + gst at a 6.7% yield
Agents: Nick Recordon, Matt Prentice & Jimmy O’Brien

South of the Bombays

Waikato

Te Rapa

4 Maui St:
Features: 2317m² site at the corner Church Rd, occupied by the Cock & Bull bar, 36% site coverage, 47 parking spaces
Rent: $242,000/year net + gst, new 6-year lease from April 2016
Outcome: sold for $3.26 million + gst
Agents: Alan Pracy  Justin Oliver, with a referral from Jolyon Thomson &  Ben Cockram

Wellington

Waikanae

3 Omahi St:
Features: 917m² site, 393m² office & retail, 10 parking spaces
Outcome: sold for $1.39 million + gst at a 6.98% yield
Agents: Dean Anderson

Attribution: Agency release.

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7 Total Property sales down country

Bayleys made 7 sales in its Total Property Auctions south of Auckland last week – 3 in the Waikato, 3 in Wellington and one in Christchurch, a building beside the Avon on Cambridge Terrace (pictured).

South of the Bombays

Waikato

Te Aroha

164 Whitaker St:
Features: 1474m2 corner site opposite clock tower in commercial precinct, 983m2 building, NZ Post occupies rear space, 2 larger streetfront premises are vacant
Rent: $10,840/year net + gst holding income, potential to increase to $50-60,000/year net + gst
Outcome: sold for $505,000
Agent: Josh Smith

Te Rapa

25 Sheffield St:
Features: 3145m² site, 2154m² industrial building, 3 gantry cranes & secure yard, leaseback holding income to October 2018 with opportunities for subdivision or development
Rent: $157,725/year net + gst
Outcome: sold for $2.25 million at a 7.01% yield
Agents: Mike Swanson (Bayleys) & Theo de Leeuw (NAI Harcourts)

Tirau

15-17 Main Rd:
Features: 1058m2 State Highway 1 site, 6 retail units totalling 500m² and 80m² flat, 65m² of vacant space, 6 offstreet parking spaces
Rent: $60,745/year gross
Outcome: sold for $540,000
Agents: Alex ten Hove & Mike Swanson

Wellington

Kaiwharawhara

55 Kaiwharawhara Rd:
Features: 408m² of vacant land zoned commercial/industrial
Outcome: sold for $450,000 at $1102/m²
Agents: Fraser Press & Matt Gibbs

Tawa

20 Main Rd:
Features: 419m² retail unit occupied by Creative Curtains for over 18 years, lease renewed for 8 years
Rent: $58,000/year net + gst
Outcome: sold for $750,000 at a 7.73% yield
Agents: Mark Walker, Jon Pottinger & Grant Young

Wainuiomata

6 Queen St:
Features: 290m² 2-level building previously occupied by Westpac Bank, ground-floor retail space & offices above, 2 parking spaces, potential rent of $28,540/year net + gst
Outcome: sold with vacant possession for $440,000
Agents: Paul Cudby & Andrew Smith

South Island

Canterbury

Christchurch cbd

61 Cambridge Terrace:
Features: 682m² site overlooking the Avon River, 5-level Miles Warren-designed 914m² boutique office building, partly occupied by 5 tenants, 231m² level 3 & 64m² penthouse vacant
Rent: $189,672/year net + gst
Outcome: sold for $2.285 million
Agents: George Phillips & Angela Webb

Attribution: Agency release.

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Hamilton council seeks buyer to take innovation park to next stage

Hamilton City Council has hired Deloitte to look for an investor to take over its Waikato Innovation Park Ltd subsidiary, 17 months after getting a masterplan done for its expansion.

The innovation park has 46 tenants working in 4 buildings on 17ha leased from Waikato-Tainui commercial arm Tainui Group Holdings Ltd at Ruakura, and the masterplan Beca Ltd produced for the council in November 2015 projected growth from the present $25 million value to another 12 buildings & $180 million value in 20 years.

The park has a workforce of 560, and the masterplan showed how that number could rise to 2500. Gross turnover of businesses at the park rose 42% last year, from $300 million to $427 million, and the park’s operations are self-sufficient, but chief executive Stuart Gordon said the council couldn’t divert from its other infrastructure priorities the investment needed for the park to grow.

The council opened the park in 2004 with the aim of clustering businesses to help drive economic growth by researching & developing technology in the environment, food & beverage, ICT & agritechnology sectors. The council provided $4.4 million in equity, Government grants totalled $9.95 million and the WEL Energy Trust provided $2 million at an early stage. The park company is 100% owned by the council, and it owns 70% of NZ Food Innovation (Waikato) Ltd. Callaghan Innovation owns the other 30% of that venture.

The council provides its innovation park as providing “a dynamic business campus where collaboration between business & research organisations drives commercial growth for our resident companies”.

The park’s immediate neighbours in the Ruakura innovation precinct are AgResearch and the NZ Institute for Plant & Food Research Ltd, and near-neighbours include Waikato University, Dairy NZ & NIWA (the National Institute of Water & Atmospheric Research).

Council special projects executive director Blair Bowcott said the council had fulfilled its role of establishing the park and getting it to critical mass, “but now it’s time for us to step out and for someone else to come in.

“We believe the park probably needs a minimum of $10-15 million of equity injection now to grow. Whilst the city could afford that, the city has demands which are of a higher priority.”

The Government has approved selling, and the return will be spread across the council’s core business. Protections have been put in place to prevent the buyer from veering from the masterplan.

“Investors will be buying the park’s assets at the latest independent valuation. They’ll be expected to invest a total of about $70 million over the next 20 years to achieve the park’s growth goals. We’ve contracted Deloitte, who have already been conducting best-fit analysis as part of a robust process to find the right investor.

“We’re looking for investors who can truly visualise the masterplan for the park and will retain the makeup of our tenants who are technology-based, driven by innovation and export-focused.”

Links:
Waikato Innovation Park
Masterplan, November 2015

Earlier story:
22 December 2014: Tetra Pak signs up for new Innovation Park HQ

Attribution: Council releases, masterplan.

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11 Total Property auction sales outside Auckland

11 commercial properties were sold at Bayleys’ Total Property auctions outside Auckland last week, on top of 12 sales through its Auckland auction.

A new office building in Hamilton (pictured) sold at a 5.4% yield and an older Hamilton building at a 6.4% yield, yields on Porirua food outlets varied from 5.6% to 7.9%, and 2 buildings in Christchurch sold at yields of 5.8% & 6.1%.

North

Kerikeri

185 Waipapa Rd:
Features: 6340m2 site, 8km from centre of Kerikeri, 590m2 industrial building, 3 short-term leases all expiring in May
Rent: $53,000/year net + gst
Outcome: sold for $785,000 at a 6.75% yield
Agent: Alan Broadbent

South of the Bombays

Bay of Plenty

Tauranga

56 Elizabeth St:
Features: 481m2 cbd site next to large carpark, 890m2 2-level building, partly occupied by Subway, balance of ground floor & upper-level office space vacant
Rent: $43,028/year net + gst; estimated potential income about $180,000/year net + gst
Outcome: sold for $2.15 million
Agents: Brendon & Lynn Bradley

Waikato

Frankton

92 Kent St:
Features: 607m2 corner site, 352m2 2-level building, long established tenant Waikato Drycleaners on 3-year lease from September 2014, 2 3-year rights of renewal
Rent: $32,000/year net + gst
Outcome: sold for $500,000 at a 6.4% yield
Agents: Brendon & Lynn Bradley & Mike Swanson

Hamilton

238 Anglesea St:
Features: 825m2 cbd site on the corner of Collingwood St, 1426m2 2-level new A grade office building, fully leased to 3 tenants on 3- to 6-year leases, Mike Greer Homes on ground floor and the Public Trust above
Rent: $254,661/year net + gst
Outcome: sold for $4.7 million at a 5.4% yield
Agents: Alex ten Hove & Mike Swanson

Wellington

Grenada North

16 Jamaica Drive, unit 44:
Features: 175m2, 6.4m-high warehouse/factory unit, 3 parking spaces in Grenada business park
Outcome: sold vacant for $355,000
Agent: Andrew Smith

Lower Hutt

Alicetown, 5 Victoria St:
Features: 299mworkshop, 3-4 park parking spaces
Outcome: sold vacant for $350,000
Agents: Andrew Smith & Paul Cudby

Porirua

1C Hagley St:
Features: 109m2 unit occupied by Chef’s Palette noodle bar for 3 years from May 2015, 2 3-year rights of renewal, one rear parking space
Rent: $18,130/year net + gst
Outcome: sold for $325,000 at a 5.6% yield
Agent: Jon Pottinger

1D & 1E Hagley St:
Features: 603m2 unit occupied by Dynasty Chinese restaurant for 6 years from July 2014, with one 6-year right of renewal, 2 rear parking spaces
Rent: $72,561/year net + gst
Outcome: sold for $920,000 at a 7.9% yield
Agents: Jon Pottinger

South Island

Canterbury

Amberley

218-240 Carters Rd:
Features: 2.8867ha in 2 titles on State Highway 1 site, 8500m2 of vacant land available for development or lease, about 1000m2 of industrial buildings with 6 tenancies, short average lease term, 60m2 vacant, anchored by timber company Goldpine
Rent: $112,000/year net + gst
Outcome: sold for $1.45 million at a 7.72% yield
Agents: Stewart White, Chris Frank & Alex White

Christchurch

Sockburn, 22 Alloy St:
Features: 1041m2 site, 13 offstreet parking spaces, 546m2 warehouse & office building; Teltrac Communications Ltd has occupied it since early 1990s and has new 6-year lease from January 2017 and 2 4-year rights of renewal
Rent: $92,000/year net + gst
Outcome: sold for $1.504 million at a 6.1% yield
Agents: Stewart White, Chris Frank & Alex White

Waltham, 18 Iversen Terrace:
Features: 1000m2 site, 815m2 warehouse & office building; Larson-Juhl NZ Ltd has occupied it since 2002 & exercised final 3-year right of renewal in September 2016
Rent: $83,816/year net + gst
Outcome: sold for $1.445 million at a 5.8% yield
Agent: Nick O’Styke

Attribution: Agency release.

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13 sales around North Island

13 sales & 2 leases around the North Island have been reported by Colliers.

Sales

Isthmus east

Newmarket

7 Edgerley Ave:
Features: 716m² site, 464m² commercial building
Outcome: sold for $3.45 million, representing $4818/m² land & building
Agents: Jonathan Lynch & Simon Child

Otahuhu

132 Portage Rd:
Features: 4960m² site, 2324m² office & warehouse
Outcome: sold for $4.5 million at a 6.5% yield
Agents: Hamish West, Ben Herlihy, Andrew Hooper & Matt Prentice

Penrose

60 Hugo Johnston Drive:
Features: 4175m² industrial property, 1117m² 2-level office building & 1087m² standalone warehouse
Outcome: sold for $5.45 million at a 6.72% yield
Agents: Paul Jarvie, Brad Johnston & Greg Goldfinch

Isthmus west

Mt Eden

108 Mt Eden Rd:
Features: 1070m² site, 700m² 2-level office building
Outcome: sold for $4.55 million, representing $4252/m² land & building
Agent: Jonathan Lynch

North-east

Rosedale

63 Apollo Drive, unit B1:
Features: 444m² commercial uni,
Outcome: sold vacant for $1.85 million
Agents: Nick Recordon & Janet Marshall

North-west

Kumeu

202-220 Main Rd:
Features: 4153m² site, 1740m² office & warehouse
Outcome: sold for $2.2 million, representing $530/m² land & building
Agents: Jonathan Lynch & Craig Smith

South

East Tamaki

27 Zelanian Drive:
Features: 5863m² vacant office & warehouse
Outcome: sold for $8.475 million
Agents: Andrew Hooper, Greg Goldfinch, Paul Higgins & Brad Johnston

South of the Bombays

Bay of Plenty

Mt Maunganui

24 Pacific Avenue:
Features: 675m² site, 440m² retail building,
Outcome: sold for $3.075 million at a 4.3% yield
Agents: Simon Clark, Rob Schoeser & Hadley Brown

Rotorua

422-430 Ngongotaha Rd:
Features: 2.66ha industrial development site, 1056m² warehouse,
Outcome: sold vacant for $2.4 million
Agent: Mark Rendell

Manawatu

Palmerston North

360 Albert St:
Features: 382m² site, 220m² retail building,
Outcome: sold for $800,000 at a 5.5% yield
Agents: Phil Nevill, Grant Lloyd & Doug Russell

314-322 Rangitikei St:
Features: vacant 1616m² property,
Outcome: sold for $1 million
Agents: Grant Lloyd, Phil Nevill & Doug Russell

Waikato

Hamilton

69 Vickery St, unit 9:
Features: 681m² industrial/retail unit,
Outcome: sold for $1.416 million at a 5.68% yield
Agent: John Hagar

Wellington

Lower Hutt

71 Port Rd:
Features: 4049m² site, 2411m² office & warehouse
Outcome: sold for $2.83 million
Agents: Tim Julian & Kieran Lennon

Leases

Isthmus east

Mt Wellington

103 Carbine Rd:
Features: 1664m² commercial premises leased to ECL Group Fuel Systems Ltd for a 6-year term on behalf of Windward Properties Ltd
Agents: Hamish West, Paul Higgins & Andrew Hooper

South of the Bombays – Wellington

Lower Hutt

109 Port Rd:
Features: 4852m² commercial premises leased to Linfox Logistics NZ Ltd for a 6-year term on behalf of Seaview Commercial Investments Ltd
Agent: Kieran Lennon

Attribution: Agency release.

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