A Frankton property passed in at Bayleys’ 11 April Total Property auction has been sold subsequently.
Also sold are 2 properties on Highway 27, which runs down the east of the Waikato.
South of the Bombays
Hamilton – Frankton
36-40 Colombo St & 32-36 Ellis St:
Features: 6071m² in 2 adjoining properties, drive-through, dual street access, 3353m² of industrial buildings; engineering business Vertic Ltd has a 3-year lease until April 2020 with 2 3-year rights of renewal
Rent: $295,765/year net + gst
Outcome: sold jointly for $3.6 million at an 8.22% yield
Agents: Jordan Metcalfe & Rebecca Bruce
8224 State Highway 27:
Features: 838m² site, 215m² Gas service station & workshop leased to 2 tenants
Rent: $33,800/year net + gst
Outcome: sold for $380,000 at an 8.9% yield
Agent: Jason Kong
1696 State Highway 27:
Features: 1668m² corner site, 148m² building comprising café, 3-bedroom home & studio flat, leased on 3-year term from June 2016 with 3 3-year rights of renewal
Outcome: sold for $330,000 at a 6.78% yield
Rent: $22,360/year net + gst
Agent: Josh Smith
Attribution: Agency release.