Colliers sold 2 industrial & commercial properties in Nelson and at the Tauriko business estate (pictured) outside Tauranga last week. In Auckland, the agency has sold a warehouse & an industrial property with a high office component in Rosedale.
Yields were around 5.2% & 5.9%, but below 5% at Tauriko.
44 Arrenway Drive:
Features: 3972m² site, 3715m² warehouse & office
Outcome: sold for $13,117,116 + gst, at a 5.88% yield
Agents: Matt Prentice & Shoneet Chand
13 William Pickering Drive:
Features: 6813m² industrial property, 1933m² floor area – 904m² of offices on ground & first floors, warehouse 984m², dock 45m², 36 parking spaces
Outcome: sold for $11.4 million + gst, at a 5.24% yield
Agents: Shoneet Chand, Matt Prentice & Josh Coburn
South of the Bombays
Bay of Plenty
Tauranga, Tauriko business estate
47 Paerangi Place:
Features: 3988m² site, dual frontage, 2296m² building constructed in 2016, 517m² canopy, 18 parking spaces
Rent: $261,738.75/year net estimated rent from 2 tenants starting 1 November, CPI + 1% annual rent reviews
Outcome: sold at auction last Friday for $5.4 million + gst, at a 4.85% yield
Agents: Simon Clark, Rob Schoeser & Doug Russell
76-82 St Vincent St:
Features: 3826m², 15-year ground lease to service station operator NPD; construction of the self-serve station is underway, with an estimated pump date of late November
Rent: $118,125/year net + gst, 1.75%/year fixed increases
Outcome: sold at auction last Thursday for $2.03 million + gst, at a 5.8% yield
Agents: Sam Staite & Geoff Faulkner
Attribution: Agency release.