North Shore commercial real estate specialist Derek Wallwork, of Omega Commercial Ltd, has completed separate lease & sale transaction on a Rosedale office property, and the sale of 2 neighbouring retail units in the Wairau Valley.
12D Piermark Drive:
Features: 301m² office unit, 17m² storage, 7 parking spaces
Rent: leased to Palmers Franchise Properties Ltd in July for 2 years at $65,000/year plus rights of renewal
Outcome: sold in August for $845,000 at a yield of 7.69%
16C Link Drive:
Features: 421m² retail unit, 9 parking spaces
Outcome: sold vacant to an investor in June for $1.525 million at a 6.4% yield on rental valuation
18B Link Drive:
Features: 357m² retail unit, 7 parking spaces
Rent: leased to a lighting retailer for $76,620/year
Outcome: sold in July for $1.3 million at a 5.89% yield
Attribution: Agency release.