6 industrial & retail properties sell

An Ellerslie fruit & vege store has been sold a month post-auction. Bayleys agents have also sold 4 property in industrial zones in Mangere, Onehunga & Otara, and a vacant shop in Favona.

Isthmus east

Ellerslie

101 Main Highway:
Features: 272m² retail unit in town centre; fruit & vege store, 5-year lease, 2 5-year rights of renewal
Rent: $60,000/year net + gst
Outcome: passed in at auction on 24 October, sold for $820,000 at a 7.32% yield
Agents: Oscar Kuang & Beterly Pan

Onehunga

15 Edinburgh St:
Features: 557m² site zoned heavy industry, 361m² 1970s warehouse
Outcome: sold vacant for $1.02 million
Agents: James Hill, James Valintine & Sunil Bhana

315 Neilson St & 21-23 Edinburgh St:
Features: 1825m² corner site in 3 titles, zoned heavy industry, 1256m² warehouse & office building
Outcome: sold vacant for $2.55 million
Agents: James Valintine, James Hill & Sunil Bhana

South

Favona

1 Savill Drive, unit 5:
Features: 120m² unit in retail complex on corner of Massey Rd, surrounding tenancies include Burger King, doctor, takeaway, liquor store & superette, communal parking
Outcome: sold vacant for $680,000
Agents: Andrew Lin, Amy Weng, Geoff Wyatt, Janak Darji & Tony Chaudhary

Mangere

10 Rennie Drive:
Features: 1656m² site zoned light industry, 1040m² industrial building – 745m² clearspan, medium stud warehousing, 295m² office & amenities
Outcome: sold with vacant possession for $2.475 million
Agents: Nick Bayley, James Valintine & William Gubb

Otara

100 Alexander Crescent, unit 1:
Features: 320m² roadfront commercial unit in light industry zone, 180m² of offices over 2 levels & 140m² warehouse, which currently has a lowered suspended ceiling for commercial use, 7 parking spaces
Outcome: sold vacant to an owner-occupier for $670,700
Agents: Mike Marinkovich & Amy Weng

Attribution: Agency release.

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