Bayleys has sold 2 more properties in its Total Property auction series south of Auckland, a Mainfreight warehouse at Kopu on the Coromandel and a strengthened building in the Feilding town centre.
South of the Bombays
14 Millar Place:
Features: 2449m² site zoned light industrial, 1357m² multispan building comprising warehouse, 960m² of offices, 400m² drivethrough loading canopy, purpose-built for Mainfreight in the mid-2000s, leased to January 2024 plus a 1-year right of renewal
Rent: $90,903/year net + gst
Outcome: sold for $1.568 million at a 5.8% yield
Agents: Josh Smith & Daniel Keane
11 Manchester Square:
Features: 157m² commercially zoned site, 104m² character building listed as category B under the significant historic built heritage for Feilding town centre, strengthened to 70% of new building standard, operating as a Thai House Express restaurant, leased for 8 years from September 2019 plus a 6-year right of renewal
Rent: $39,216/year net + gst
Outcome: sold for $550,000 at a 7.13% yield
Agents: Karl Cameron & Lewis Townshend
Attribution: Agency release.