A bulk retail centre in South Auckland (pictured) with three tenants that sold for $10 million was one of the highlights of the commercial property sales completed recently by Colliers International and Knight Frank.
The retail property was the most expensive ever sold at auction in this country by Colliers. It provided its new owners with a yield of 7.14%.
On the other side of the harbour bridge a retail premises at Devonport on the North Shore sold for $2 million, providing a yield of 3.6%.
Other sales included development sites in Christchurch and Tauranga, offices in Auckland and an industrial building in Te Kuiti.
See below for details of recent sales by Knight Frank and Colliers:
Recent sales by Knight Frank:
Units B, E & F, 82 Symonds St, Auckland. Office spaces with a combined floor area of 573 square metres. Sold for $2 million. The agent was Allan Myers.
Lot 23 Belfast Park, Christchurch. A 1808 square metre vacant lot. Sold for $370,640 + GST. The agent was Sam Stone.
177 Chester St East, Christchurch. A 1179 square metre development site. Sold for $615,000. The agent was Sam Stone.
U2, 46 Acheron Drive, Christchurch. A new, 580 square metre, two level office building. Sold for $1.93 million. The agents were Craig Edwards, Tom Lax and Benedict Casey.
U4, 46 Acheron Drive, Christchurch. A 496 square metre office/showroom. Sold for $2,082,500. The agent was Craig Edwards.
Recent sales by Colliers International:
- 85 Cavendish Drive, Manukau. A bulk retail centre (pictured) with net lettable area of 3893 square metres and 150+ car parks on an 11,549 square metre site. It had three tenants, Big Save Furniture, Reece Plumbing and Smart Marine, providing rental income of $714,436 +GST pa. Sold for $10 million providing a yield of 7.14%. The agents were Gareth Fraser, Charlie Oscroft, Leroy Wolland and Jeremy Barnett.
- 57 Rora St, Te Kuiti. A 1369 square metre industrial building. Sold for $1.06 million. The agent was Malcolm Southwick.
- 14 Clarence St, Devonport. A 408 square metre retail premises on a 574 square metre site. Sold for $2 million, providing a yield of 3.6%. The agents were Deborah Dowling, Euan Stratton and Charlie Oscroft.
- 58 Ashley Place, Papamoa, Tauranga. A 4356 square metre vacant site. Sold for $1.3 million + GST. The agents Richard Davidson and Simon Clark.
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