Bayleys agents in South Auckland have sold 9 units in stage 1 of the new Wiri Station Business Park by Robert Cunningham Construction Commercial Ltd, which is nearing completion.
They’ve also sold 4 commercial properties in East Tamaki – 2 over $5 million – plus one in Pakuranga.
The most expensive building, on Barmac Place in East Tamaki (pictured below), was sold with a one-year leaseback in place. Another of the East Tamaki properties, on Polaris Place, was sold at an auction brought forward.
9 Barmac Place (image above):
Features: 4610m² site, 2763m² building, 225m² canopy, completed in 2004; high stud warehousing (8m at knee & rising), 3 large roller doors, single-level showroom & office space; one-year leaseback to current owner-occupier
Outcome: sold for $7.11 million + gst
Agents: Nelson Raines, Amy Weng & Andrew Wallace
12-16 Harris Rd:
Features: 4186m² site, 2195m² industrial building – 1919m² of high stud warehousing, 2 gantry cranes, balance office & amenities; current occupier has lease until September 2019
Rent: $267,000/year net + gst
Outcome: sold to an owner-occupier for $5.82 million + gst (if any)
Agents: Mike Marinkovich (Bayley) & Paul Higgins (Colliers)
108 Harris Rd, unit B:
Features: 334m² industrial unit – 283m² of high stud, clearspan warehousing, dual motorised roller door access, 51m² of offices & amenities over 2 levels
Outcome: sold vacant for $1.175 million + gst at $3518/m²
Agents: Roy Rudolph, John Bolton & Katie Wu
22 Polaris Place, unit 5:
Features: 208m² high stud warehouse & office unit in new industrial complex, 4 parking spaces, 3-year lease to BRP Electrical, one 5-year right of renewal
Rent: $39,000/year net + gst
Outcome: sold for $800,000 + gst at a 4.87% yield (auction brought forward from 5 December)
Agents: Jarod Qin, Nicolas Ching & Ben Bayley
60-62 Tiraumea Drive:
Features: 898m² corner site zoned neighbourhood centre, fully leased single-level 421m² building comprising 3 shops plus residential accommodation at rear
Outcome: sold for $1,337,860 at a 6% yield
Agents: Tony Chaudhary, Janak Darji & Amy Weng
114 Wiri Station Rd:
Features: 9 industrial units in the 1.6ha Wiri Station Business Park – 5 warehouse units ranging from 206–495m² in an 11-unit complex nearing completion plus another 4 units ranging from 385–666m² in 3 existing buildings on the site
Outcome: sold vacant for a total of $10.305 million + gst to mix of owner-occupiers & investors
Agents: Mike Marinkovich, Karl Price & James Hill
Attribution: Agency release.