Colliers agents have notched up over $40 million of commercial & industrial sales from Paihia to Paraparaumu in 5 transactions.
The biggest was the sale-&-leaseback deal by Steel & Tube Holdings Ltd of its East Tamaki distribution centre in November, scheduled for completion next week.
One of the 5, a Paihia retail property with 14 tenants, was sold for an undisclosed sum.
68 Marsden Rd & 9 Williams Rd:
Features: 1139m², 4 buildings on 2 titles separated by Paihia Lane, 14 retail tenancies, average weighted lease term 7.35 years
Rent: $701,000/year net + gst
Outcome: sold, price not disclosed
Agents: Colliers capital markets & site sales team
136-140 Lincoln Rd:
Features: 2709m² development site, the former Lincoln vineyard homestead, mixed-use zoning allows for a range of commercial & intensive residential development
Outcome: sold to an owner-occupier for $4,063,500
Agents: Euan Stratton, Josh Coburn & Craig Smith
103A&B Harris Rd:
Features: total 931m², warehouse & office, high stud clearspan warehousing at rear of both units
Rent: $133,856/year net + gst
Outcome: sold for $2.34 million + gst at a 5.7% yield
Agents: Jolyon Thomson & Jeremy Barnett
68-80 Stonedon Drive:
Features: 3.64ha site, 18,126m² Steel & Tube Holdings Ltd distribution centre,
Rent: $2,036,087/year net + gst
Outcome: sold for $32,577,392 at a 6.25% yield in 10-year sale & leaseback (6 years certain), transaction scheduled for completion 20 December
Agents: Greg Goldfinch & Andrew Hooper
Earlier story, 20 November 2017:
East Tamaki property sold as Steel & Tube rings in changes
South of the Bombays
345-347 Kapiti Rd:
Features: 1844m² site, 880m² office & retail
Outcome: sold for $2.013 million at a 7.47% yield
Agent: Dean Anderson
Attribution: Agency release.