Rotorua industrial building & residential units sell

2 Rotorua properties were sold on Tuesday to round off Bayleys’ Total Property 7 action series around the country.

South of the Bombays – Bay of Plenty

Rotorua

Fenton Park

40-42 White St:
Features: 1370msite, 746m1980s industrial building
Rent: 3 leases returning $54,651/year net + gst, anchor auto tenancy on a new 5-year term
Outcome: sold for $865,000 at a 6.32% yield
Agents: Mark Slade & Brei Gudsell

Victoria

15 Larch St:
Features: 1169m2 site in 2 cross-lease titles, 5 residential units totalling 350m2, 4 of 2 bedrooms & a one-bedroom unit, each with one parking space
Rent: fully leased on periodic tenancies, gross rental income $47,840/year
Outcome: sold for $770,000
Agents: Mark Slade & Brei Gudsell

Attribution: Agency release.

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