A Greenlane property with development potential has been sold by Bayleys for just over $3200/m² land value. Another development opportunity opposite Hunters Plaza in Papatoetoe and an Airport Oaks warehouse & office unit have also been sold.
181 Great South Rd:
Features: 928m² site zoned terraced housing & apartment buildings, in double grammar zone, 155m² 1930s 4-bedroom home, vacant, development potential
Outcome: sold for $3 million at $3233/m² land value
Agents: Tony Chaudhary, Amy Weng, James Were & James Chan
180 Montgomerie Rd, unit 4:
Features: modern 268m² industrial unit – 162m² high stud warehouse, 106m² offices over 2 levels, 3 parking spaces, leased to national business Lineside Electrical Ltd for 4 years from July 2020 plus 3-year right of renewal
Rent: $43,000/year net + gst
Outcome: sold for $750,000 at a 5.73% yield
Agents: Gino Perano & Nick Bayley
25 Sutton Crescent:
Features: 830m² site in town centre zone, allows mixed-use development up to 5 levels, opposite Hunters Plaza shopping centre, 680m² premises, 27m road frontage, vacant, development potential
Outcome: sold for $1.3 million
Agents: Tony Chaudhary, Janak Darji & Amy Weng
Attribution: Agency release.