An Eden Terrace warehouse conversion with redevelopment rights (pictured above), the Rialto cinema complex in Newmarket and office floors on Queen St and in Viaduct Harbour have been sold by Bayleys agents.
CBD
Queen St
175 Queen St, level 14:
Features: 228m2 top floor of office building, extensive recent fitout, multiple portioned offices, natural light, views, one basement parking space
Outcome: sold vacant for $1 million
Agents: Quinn Ngo & Matt Lee
Waterfront
14 Viaduct Harbour Avenue, level 5:
Features: 305m2 office floor, 4 parking spaces
Outcome: sold vacant for $825,000
Agent: Andre Siegert
Isthmus east
Newmarket
153-185 Broadway, lot 4:
Features: 1985m2 7-cinema complex on the top level of the Rialto shopping centre, occupied since 2005 by Rialto Cinemas, which renewed for 5 years in December 2015
Rent: $410,140.50/year net + gst
Outcome: sold for $4.5 million at a 9.1% yield
Agents: Alan Haydock & Damien Bullick
Isthmus west
Eden Terrace
140 New North Rd:
Features: 1055m2 corner site zoned mixed use with additional height overlay of 21m; 2 adjoining converted warehouse buildings totalling 1815m2, which the tenant has been operating as a boarding & short-term accommodation facility since August 2006, with 6 months’ termination clause in lease
Rent: $165,000/year net + gst
Outcome: sold for $4.01 million at land value of $3800/m2 & 4.1% yield
Agents: Scott Kirk, James Were, Phil Haydock, Bayleys Auckland
Attribution: Agency release.
