6 bidders turned out for Bayleys’ auction yesterday of a Rosedale retail unit, brought forward from the agency’s Total Property auction next Wednesday, and the property sold at a 4.22% yield.
From north-east to south-west, and Bayleys agents have reported a long list of leasing deals in the Airport Oaks & Airport precincts, plus a couple in East Tamaki & Penrose.
Sale
North-east
Rosedale
Rosedale Retail Centre, 94 Rosedale Rd, unit 2:
Features: 73m² unit, occupied by a health & beauty retailer with just under 16 months to run on lease, wide frontage to a common parking area opposite anchor Tai Ping supermarket
Rent: $37,520/year net + gst + outgoings
Outcome: sold for $890,000 at a 4.22% yield at auction brought forward with declared reserve of $750,000
Agents: Eddie Zhong, Steven Liu & Meng He
Leases
Isthmus east
Penrose
7-9 McNab St:
Features: 5215m², global logistics operator has taken new lease
Rent: $560,000/year net + gst
Agents: Scott Campbell & James Valintine
South
Airport Oaks
8 Airpark Drive:
Features: 9816m² net lettable area, new 6-year lease to Bendon Ltd
Rent: $1,421,839/year net + gst
Agents: Scott Campbell & Jamsheed Sidhwa
1 Amelia Earhart Avenue:
Features: 8654m² net lettable area, Schenker Logistics has taken long-term lease
Rent: $1,224,200/year net + gst
Agents: Jamsheed Sidwha & Scott Campbell
99 Montgomerie Rd:
Features: 960m² net lettable area, new 4-year lease to Uniload,
Rent: $140,000/year net + gst
Agents: Nick Bayley & Scott Campbell
113 Pavilion Drive, unit 8:
Features: 1822m² net lettable area, new 6-year lease to Logical Freight Solutions NZ Ltd
Rent: $232,535/year net + gst
Agents: Nick Bayley & Jamsheed Sidhwa
9 Richard Pearse Drive:
Features: 12,470m² net lettable area, new 10-year lease to Apollo Motor Homes
Rent: $888,560/year net + gst
Agents: Scott Campbell & Nick Bayley
Auckland Airport
15 Maurice Wilson Avenue, unit A:
Features: 3028m² net lettable area, new 5-year lease to Sheppard Industries Ltd
Rent: 457,744/year net + gst
Agents: Jamsheed Sidhwa & Nelson Raines
15 Maurice Wilson Avenue, unit B:
Features: 4178m² net lettable area, new 6-year lease to Early Settler
Rent: $518,224/year net + gst
Agent: Jamsheed Sidhwa
East Tamaki
Highbrook Drive, unit D:
Features: 1965m² net lettable area, new 6-year lease to FDM
Rent: $346,800/year net + gst
Agents: Tom Davison & Scott Campbell
Attribution: Agency releases.