Mackelvie St building sells at nearly $7300/m²

Wilson Hurst agents have completed the sale of a Mackelvie St warehouse & showroom in Grey Lynn on a very low yield.

Isthmus west

Grey Lynn

49 Mackelvie St:
Features: 480m² mixed use site, comprising of 420m² of building being a mix of warehouse, showroom & offices leased to Wave Images Ltd (trading as Photogear); the property has a development clause
Rent: $112,500/year net + gst
Outcome: sold for $3.5 million + gst at a 3.21% yield, land price $7292/m²
Agents: Everett Jaura, Paul Kinghan & Jack Hall

Attribution: Agency release.

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