While you were sleeping investors bought these 14 Waikato and Bay of Plenty commercial investment properties at yields ranging from 4.7% to 8.2%…
With a focus on Waikato and Bay of Plenty, we report on 14 commercial investment properties sold recently by Bayleys.
47 Albert Street, Whitianga
- Features: 260m2 retail building on 313m2 corner site. Three tenancies including café, insurance broker and mobile phone retailer.
- Rent: $69,221 net p.a.
- Outcome: Sold for $1,300,000
- Yield: 5.3%
3 Lockington Road, Aongatete
- Features: 381m2 industrial and residential mixed premises on 1,650m2 rural-zoned corner site on State Highway 2, 7 km from Katikati town centre. Leased to an engineering business with the 3-bedroom dwelling leased as a periodic residential tenancy.
- Rent: $42,724 net p.a.
- Outcome: Sold for $590,000
- Yield: 7.2%
4 Hynds Road, Greerton, Tauranga
- Features: 578m2 warehouse and office premises built in 2007 with three high bay roller doors on 1,099m2 industrial site. Currently occupied by two businesses under one 4-year lease from October 2018 with 1 x 4-year RoR.
- Rent: $62,000 net p.a.
- Outcome: Sold for $1,320,000
- Yield: 4.7%
18 Barberry Place, Judea, Tauranga
- Features: 546m2 industrial premises with drive-around access on 1,561m2 site. 275m2 of warehousing, with two roller doors and 67m2 canopy, 199m2 of offices and amenities, 6m2 mezzanine and sealed 1,000m2 yard. Sold with vacant possession.
- Outcome: Sold for $1,000,000
293 Fraser Street, Tauranga (pictured above)
- Features: 573m2 of warehousing with multiple roller door access on 926m2 site with 12 car parks. Sold with vacant possession.
- Outcome: Sold for $1,280,000
33 Station Road, Te Puke
- Features: 3.1ha partially developed industrial site near Te Puke CBD with full power, phone, water and sewerage services. Leased to HEB Construction for 5 years, with renewal rights.
- Rent: $350,000 net p.a.
- Outcome: Sold for $5,125,000
- Yield: 6.8%
6 Great South Road, Huntly
- Features: 2,647m2 industrial site with 140m2 high-stud workshop and 72m2 office block. Sold with vacant possession.
- Outcome: Sold for $550,000
36-40 Colombo Street and 32-36 Ellis Street, Hamilton
- Features: Two industrial lots with 3,353m2 combined warehousing and office space on 6,071m2 site in two titles with dual street frontage providing drive-through access. Currently leased to an established single tenant.
- Rent: $295,765 net p.a.
- Outcome: Sold for $3,600,000
- Yield: 8.2%
1/244 Tristram Street, Hamilton
- Features: 437m2 showroom and warehouse with dual street frontage and 80% of NBS seismic rating plus 10 rear car parks. Leased to NZ Uniforms for 6 years to 2023 plus 1 x 3-year RoR.
- Rent: $98,000 net p.a.
- Outcome: Sold for $1,590,000
- Yield: 6.2%
53A King Street, Hamilton
- Features: 279m2 single level office on unit title with showroom, boardroom, open office space and 7 car parks.
- Rent: $60,000 net p.a.
- Outcome: Sold for $840,000
- Yield: 7.1%
33 Duke Street, Cambridge
- Features: 510m2 two-storey commercial premises currently occupied by an optometrist, dentist and beauty therapist on a 329m2 site.
- Rent: $79,400 net p.a.
- Outcome: Sold for $1,338,500
- Yield: 5.9%
5 Dick Street, Cambridge
- Features: 138m2 house-like office built in 2016 on 348m2 commercially-zoned site in a transitional residential/commercial area. Sold with vacant possession.
- Outcome: Sold for $680,000
266-270 The Strand and 39-45 McAlister Street, Whakatane
- Features: 2,298m2 of buildings with multiple motor trade and sales offices across six adjoining sites totalling 4,727m2 at the western entrance to the Whakatane CBD. Leasehold land with perpetual renewals. Sold with vacant possession.
- Outcome: Sold for $1,100,000
5 Louvain Street, Whakatane
- Features: 800m2 2-storey office building built in 2017 with 14 onsite car parks on a 1,012m2 site. Currently leased to the Eastern Bay Primary Health Alliance for 6 years with 4 x 2-year RoR.
- Rent: $168,116 net p.a.
- Outcome: Sold for $2,600,000
- Yield: 6.5%