Both warehouse properties auctioned at Colliers in Auckland today sold under the hammer, the first at East Tamaki at a yield just over 6%, and the second at Rosedale at 5.5%.
4A Rothwell Avenue:
Features: 974.9m² renovated unit in the North Harbour industrial estate – office 168.5m² on 2 levels, clearspan warehouse 806.4m², 6.4m stud height, roller doors at both ends, leased to international tenant Clariant
Rent: $120,640/year net + gst on lease with 2.5 years to run
Outcome: sold for $2.205 million at a 5.47% yield
Agents: Matt Prentice, Jimmy O’Brien & Shoneet Chand
5 Greenmount Drive:
Features: 3995m² site, 2748m² office & warehouse – warehouse 2362m², office & amenities 298m² on 2 levels, mezzanine storage 87m², tenant Talvor Motorhomes Ltd on new 6-year lease, one 6-year right of renewal
Rent: $244,500/year net + gst + opex
Outcome: sold for $4.05 million at a 6.04% yield
Agents: Andrew Hooper, Dwayne Warby & Matt Prentice
Attribution: Auction documents.