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