An office building occupied by the NZ Institute of Education’s Takapuna campus (pictured) has been sold by Barfoot & Thompson Commercial agents at a 6.4% yield.
Across at the agency’s city auction session this morning, a retail space at Glen Eden without even a disclosed size didn’t attract a bidder and the auction of an Aura apartment, having gone close to a sale, stalled – and it was passed in half an hour later.
Given that auctionroom non-performance, I’ll limit my visits to auctions where same-day outcomes look a reasonable prospect.
62-64 Anzac St:
Features: 5682m² net lettable area, 12-level office building, 196 parking spaces
Rent: $2,748,562/year net + gst from 24 tenancies
Outcome: sold for $43 million at a 6.39% yield
Agents: Elaine Tutty & Bruce Jiao
1 Westech Place:
Features: vacant retail space
Outgoings: body corp levy $1003/year
Outcome: no bid
Agent: Paul Greenwood
Aura, 53 Cook St, unit 506:
Features: 49m² + balcony, 2-bedroom apartment
Outgoings: body corp levy $4513/year
Outcome: passed in at $410,000
Agents: Selina Zheng & Tommy Zhang
Attribution: Agency release, auction.