2 industrial properties in East Tamaki & Penrose, and 2 Manurewa buildings with a mix of tenancies, have been sold by Bayleys agents.
17 Maurice Rd:
Features: 6392m² site zoned heavy industry, 2-level building – 1185m² ground floor, 4.5m stud height in part, 1121m² first floor office space, 45 parking spaces, bare land to rear
Outcome: sold for $4.3 million in July 2016; sold this month for $4.65 million + gst
Agents: Mike Adams, James Valintine & Ken Hu
23 Springs Rd, units 4 & 5:
Features: 2 industrial units, 859m² combined floor area, high stud warehousing, showroom, offices, parking, A+ seismic rating
Rent: holding income $134,372/year net + gst
Outcome: sold for $1.9 million at a 7.07% yield
Agents: Phil Haydock, Nelson Raines & James Hill
154-164 Great South Rd:
Features: 580m² combined office & retail over 2 buildings; newly signed lease to laundromat in one building; barber, blind store & professional services in second 2-storey building
Rent: 6 tenancies returning $148,151/year net + gst
Outcome: sold for $1.8 million at an 8.23% yield
Agents: Tony Chaudhary, Janak Darji & Peter Migounoff
Attribution: Agency release.