A property on Pukekohe’s main street sold at Bayleys’ auction yesterday on a 9.25% yield.
It was originally scheduled for auction in the agency’s Total Property 2 portfolio on 15 April, but was relaunched in Total Property 3.
126-144 King St:
Features: 2051m² town centre-zoned site, the largest landholding on Pukekohe’s main street, 15 parking spaces accessed from rear of site; 1630m² of character buildings with seismic assessment of 40% new building standard; 4 tenancies with leases until 2022 & 2023
Rent: $293,000/year net + gst
Outcome: sold for $3.166 million at a 9.25% yield
Agents: Shane Snijder, Michael Nees & Terry Kim
Attribution: Agency release.