Bayleys agents have sold 2 industrial properties in Onehunga, one of them containing 5 workshop & warehouse units.
6 Malvern Rd:
Features: 1317m² triangular site zoned light industrial – 910m² combined floor area, 4 tenancies over 5 generic workshop/warehouse units; Unit A – 254m² 2-level warehouse/office leased monthly; Unit B – 91m² warehouse leased for 3 years to February 2022; Unit C – 90m² warehouse leased for 2 years to February 2021 plus 1 2-year right of renewal; Units D & E – 466m² warehouse plus mezzanine & offices leased together for 2 years to September 2021, asphalt sealed front yard, seismic assessment 70% of new building standard, includes licence to occupy 118m² of KiwiRail land at northern boundary for 9 years to September 2025
Rent: $143,000/year net + gst
Outcome: sold for $2.15 million at a 6.65% yield
Agents: Owen Ding, James Chan & Greg Hall
18-20 Pukemiro St:
Features: vacant 1112m² site zoned heavy industrial – 928m² 2-level premises; 744m² of high & low-stud warehousing; 184m² first floor offices/amenities, 360m² front yard
Outcome: sold for $2.1 million
Agents: William Gubb & James Valintine
Attribution: Agency release.