Bayleys agents have sold 7 commercial, retail & residential properties around the Wellington metropolitan area, and 2 retail units & a housing development site on the Kapiti Coast.
South of the Bombays
Wellington
Berhampore
465 Adelaide Rd:
Features: 149m² site, 170m² retail premises – 95m² ground floor store & workshop plus 74m² mezzanine, 2 rear parking spaces, vacant possession
Outcome: sold for $580,000
Agent: Baha Mabruk
Grenada
11 Grenada Dr:
Features: 1.7ha suburban bare site
Outcome: sold for $5.95 million at $350/m²
Agent: Fraser Press
Kaiwharawhara
108 Hutt Rd:
Features: 742m² site, 817m² office & warehouse, partially tenanted, 4 parking spaces
Outcome: sold for $2.175 million
Agents: Fraser Press & Bhakti Mistry
Kilbirnie
2-4 Onepu Rd & 66-70 Rongotai Rd:
Features: 4 land titles opposite Pak’n’Save supermarket, combined 1317m² site zoned town centre, 4 houses leased as 6 flats returning $139,360/year gross
Outcome: sold for $2.5 million at $1898/m²
Agents: Grant Young & Mark Sherlock
Ngauranga
1 Jarden Mile:
Features: 1149m² site, 620m² office building, built to 80% new building standard, 350m² warehousing, 250m² offices, occupied by water & wastewater business Aquatech NZ Ltd
Outcome: sold for $2.75 million
Agent: Fraser Press
Te Aro
28-30 Jessie St:
Features: 352m² site, 418m² commercial premises, 5 parking spaces, seismic assessment 75% new building standard, 271m² ground floor high-stud warehouse, leased by The Cotton Store to April 2020, 147m² first floor office vacant
Rent: $84,680/year gross + gst
Outcome: sold for $2.225 million
Agents: James Higgie & Mark Walker
29-41 Willis St:
Features: 4 ground floor retail units, sizes range from 78-261m² , tenants include fashion retailer Pagani, travel agent House of Travel, shoe retailer Ecco Shoes, varying lease terms through to 6 years
Rent: $533,996/year net + gst
Outcome: sold for $8.65 million at a 6.17% yield
Agents: Jim Wana & Mark Sherlock
Kapiti Coast
Paraparaumu
109 Amoiha St:
Features: 1535m² L-shaped bare site, medium density housing zone
Outcome: sold for $395,000
Agent: Stephen Lange
Paraparaumu Beach shopping centre, 18 Seaview Rd, units 3 & 4:
Features: 2 retail units sold together, 80m² combined floor area, unit 3 50m², unit 4 30m² plus offstreet parking, vacant possession
Outcome: sold for $345,000
Agent: Stephen Lange
Attribution: Agency release.
