Bayleys agents have sold 2 warehouses in East Tamaki & Mt Wellington (picture above).
24 Vestey Drive:
Features: 2834m² site, 1780m² industrial building – 1025m² of factory/warehouse space, 3 roller doors plus 2 levels of offices on street frontage, 28 parking spaces; Jazz Print, in occupation since 1996, has a 6-year lease from settlement & 2 3-year rights of renewal
Rent: $250,000/year net + gst, 2% annual rental increases
Outcome: sold for $5.15 million at a 4.85% yield
Agents: James Hill, Sunil Bhana & Mike Houlker
84 Lady Ruby Drive:
Features: 2153m² site, 843m² industrial building, 8m high clearspan warehouse roof, 2 levels of showroom & offices; 36.5% site coverage provides opportunity for expansion
Rent: $100,000/year net + gst holding income
Outcome: sold for $3.2 million to an owner-occupier
Agents: Katie Wu, John Bolton & Roy Rudolph
Attribution: Agency release.