An office floor on the eastern fringe of Auckland’s central business area, a warehouse & office on the western fringe and a shop under the North apartments in Grey Lynn have been sold by Bayleys agents.
121 Beach Rd, level 4:
Features: vacant 136m² full floor office, potential residential conversion, 2 basement parking spaces
Outcome: sold for $535,000
Agents: Phil Haydock & James Were
North, 189-197 Great North Rd, unit 1R:
Features: 335m² ground floor in North Apartments building, double stud height, full-height glazing, 6 basement parking spaces, new 8-year lease to national retailer Harvey Norman plus 3 3-year rights of renewal & CPI increases
Rent: $183,682/year + gst
Outcome: sold for $3.6 million at a 5.1% yield
Agents: Alan Haydock, Damien Bullick & Oliver Scutts
18 Newton Rd:
Features: 304m² site allowing development up to 15m, 344m² warehouse/office – ground floor high stud warehouse/workshop plus full height roller door, first floor office/storage
Rent: $69,557/year net + gst
Outcome: sold for $1.675 million at a 4.15% yield
Agents: Cameron Melhuish & Jean-Paul Smit
Attribution: Agency release.