Colliers has reported 14 commercial sales around the country over the last few months.
South
Drury
Drury South Crossing, block 2, lot 16:
Features: 15,110m² development site
Outcome: sold for $5,061,850 at $335/m²
Agents: Matthew Barnes, Paul Jarvie & Brad Johnston
Manurewa
36 Maich Rd:
Features: 1006m² site, 186m² commercial building containing an auditorium, reception & offices, 18% site coverage
Outcome: sold with vacant possession to a church group for $730,000
Agents: Chris Wakim, Matthew Barnes & Paul Jarvie
Pakuranga
14 Cortina Place:
Features: 400m² site, 360m² workshop & office
Outcome: sold to a local investor for $1.13 million, at a 4.4% yield
Agents: Simon Child, Gareth Fraser & Matthew Barnes
Pukekohe
1 Queen St:
Features: 1100m² corner site, multi-tenanted 600m² 2-level building, 15 parking spaces
Rent: $184,608/year net + gst
Outcome: marketed a year ago, sold in July for $2.8 million at a 6.59% yield
Agents: Matthew Barnes & Gareth Fraser
South Island
Canterbury
Christchurch
Avon Loop
10 Nova Place, units 1-4:
Features: ‘as is where is’ uninsured block of flats – 4 2-storey 2-bedroom units
Outcome: sold at auction for $980,000
Agent: Courtney Doig
Ferrymead
1063 Ferry Rd, unit 5:
Features: 504m² commercial unit, 2 tenants, 8-year lease to Waterman PL Fitness Ltd (F45 Training Ferrymead), 3-year lease to Scoop Pilates, 22 parking spaces
Rent: $115,703/year net + gst
Outcome: sold for $1.55 million at a 7.46% yield
Agent: Courtney Doig
South of the Bombays
Bay of Plenty
Bethlehem
2 Te Paeroa Rd:
Features: 1531m² site, corner site leased to new Gull self service station
Rent: $113,251.45/year net + gst, 10-year lease from December 2015, next CPI assessment in December
Outcome: sold for $1.726 million at a 6.56% yield
Agents: Simon Clark & Duncan Woodhouse
Papamoa
32-38 Te Wharo Drive & 20 Hills View Drive:
Features: 2209m² site, 507m² of purpose-built improvements, newly completed, tenanted childcare centre
Outcome: sold for $4.05 million at a 5.67% yield
Agents: Grant White & Mat Gibbard
Tauriko
Kennedy Rd & Flack St corner:
Features: 2060m² landholding, newly built tenanted childcare centre
Outcome: sold for $4.585 million at a 5.1% yield
Agents: Rob Schoeser & Grant White
Hawke’s Bay
Napier South
39 Carlyle St:
Features: 1528m² site, 710m² shop previously occupied by Aaron’s Emporium but sold with vacant possession
Rent: projected rent $113,600/year net + gst at $160/m² (projection by Newland Burling)
Outcome: sold for $1.575 million to owner-occupier SuperLoans Ltd, putting the yield on projected rent at 7.2%
Agents: Dan Walker & Danny Blair
Onekawa
79 & 81 Austin St:
Features: 2132m² site, 895m² in 2 adjoining showroom/warehouse properties
Outcome: sold for $1.806 million at a 6.25% yield
Agents: Danny Blair & Rob Nankervis
Waikato
Hamilton
5 Crossroads
236 Peachgrove Rd:
Features: 298m², 2 adjoining retail units occupied by a hospitality tenant with multiple income streams from a bar, food, TAB & pokies
Rent: $76,841/year net + gst, 9-year lease
Outcome: sold for $1.27 million at a 6% yield
Agents: David Palmer & Justin Oliver
Frankton
31 Commerce St:
Features: 1239m² site, 400m² net lettable area, showroom/warehouse, renewed 5-year lease to Australian electronics retailer Jaycar Pty Ltd, seismic rating 100% new building standard
Rent: $66,000/year net + gst, annual rental growth
Outcome: sold for $1.315 million at a 5.01% yield
Agents: David Palmer & Justin Oliver
Te Rapa
8 Karewa Place:
Features: 2399m² site, 924m² warehouse & office, 2 tenants, A grade seismic rating
Rent: $112,860/year net + gst + opex
Outcome: sold for $2,301,600 at a 4.9% yield
Agents: Alan Pracy, Justin Oliver & Anne-Marie Brown
Attribution: Agency release, property searches.
