A sale at Bayleys’ East Tamaki office yesterday kicked off the agency’s 8th Total Property auction round for the year.
It will continue in Auckland today, when 18 commercial properties are on the auction list.
While that auction round is starting, one Orewa property passed in at the Total Property 7 auction in October has been sold, and an Airport Oaks property (pictured) offered by tender in October has also sold.
Tamariki Plaza, 1-19 Cammish Lane, unit J:
Features: vacant 190m² commercial unit set up as an office with a rear roller door, zoned town centre, one parking space + share of 35 parking spaces
Outcome: passed in at $700,000, sold to another investor post-auction for $780,000, with vacant possession
Agent: Mustan Bagasra
127 Montgomerie Rd:
Features: 5001m2 site, 3663m2 industrial building developed in late 1990s – 2953m2 of warehousing, 6.7-7.8m stud, 2 levels of offices & amenities; complete refurbishment undertaken in 2015 before start of 8-year lease to skin & hair products manufacturer Mix Ltd, 45 parking spaces
Rent: $374,544/year net + gst, increasing annually to $405,418 in 2022
Outcome: sold for $7.106 million at a 5.27% yield, after a tender that closed in October
Agents: James Hill, Sunil Bhana & Nick Bayley
33A Springs Rd:
Features: 897m2 mid-1980s industrial unit, 647m2 warehouse with 6.5m stud, 2 roller doors & 3 tonne gantry, 2 levels of office & showroom space
Outcome: sold vacant for $2.3 million
Agents: John Bolton, Katie Wu & Roy Rudolph
Attribution: Agency release.