2 new retail investments in a development just completed by the Broadway Property Group at Millwater, between Silverdale & Auckland’s northern motorway, were sold at a Colliers auction on Wednesday.
The 2 units, both tenanted, are the same size and were sold for the same price, but have a $1/week difference in rent.
Euan Stratton, Sean Honeycombe & Matt Prentice were Colliers’ sales agents for both units.
177 Millwater Parkway, unit 44:
Features: 86m², tenant Hello World on a 5-year lease
Rent: $34,552/year net + gst
Outcome: sold for $707,000 at a 4.88% yield
177 Millwater Parkway, unit 49:
Features: 86m², tenant The Goldsmith on an 8-year lease
Rent: $34,604/year net + gst
Outcome: sold for $707,000 at a 4.89% yield
Attribution: Auction documents & release.