While you were sleeping investors bought these 15 commercial investment properties in West Auckland and Central Auckland, at yields of 2.7% to 8.1%…
With a focus on West Auckland and Central Auckland, we report on 15 commercial investment properties sold recently by Bayleys.
82-84 Railside Avenue, Henderson
- Features: 449m2 retail premises with street frontage, customer car parking and an A+ IEP rating. Occupied by national retailer Curtain Studio.
- Rent: $85,300 net p.a.
- Outcome: Sold for $1,210,000
- Yield: 7.05%
76 Delta Avenue, New Lynn
- Features: 1,078m2 two-level factory/warehouse building on 1,387m2 site zoned Light Industry. Split into two tenancies, with Fisher Windows being the main tenant.
- Rent: $113,000 net p.a.
- Outcome: Sold for $1,955,000
- Yield: 5.78%
68A and 68B Ponsonby Road, Grey Lynn
- Features: Two ground-floor retail units totalling 46m2 plus four basement car parks. Inter-tenancy wall removed to accommodate one barber shop tenancy on 6-year lease to December 2024 with fixed annual rental increases.
- Rent: $47,708 net p.a.
- Outcome: Sold for $838,000
- Yield: 5.69%
Level 1, 22 Drake Street, Auckland CBD
- Features: 140m2 modern office premises with north-facing deck and two car parks, also consented for residential, live/work use.
- Outcome: Sold vacant for $1,400,000
4B/12 O’Connell Street, Auckland CBD
- Features: 314m2 refurbished office premises fully leased to international transportation consultancy MRCagney.
- Rent: $100,255 net p.a.
- Outcome: Sold for $1,435,000
- Yield: 6.98%
15 Surrey Crescent, Grey Lynn
- Features: 173m2 character villa on 708m2 corner site. Tenanted by Raukatauri Music Therapy Trust, in occupation for nearly a decade with existing use rights for commercial activity.
- Rent: $60,000 net p.a.
- Outcome: Sold for $2,100,000
- Yield: 2.86%
26A Crummer Road, Grey Lynn
- Features: 321m2 recently refurbished office with 162m2 warehouse or car parking.
- Outcome: Sold with vacant possession for $1,825,000
341 New North Road, Kingsland
- Features: 371m2 Mixed Use zoned site with a 4-bedroom residential dwelling plus carpark.
- Outcome: Sold for $1,590,000 incl. GST
586-592 New North Road, Kingsland (pictured above)
- Features: 2 x 292m2 standalone retail buildings with a 3-bedroom house at the rear on a 429m2 Local Centre zoned site with current leases to bakery and convenience stores. Relatively shorter leases providing flexible options for developer and add-value investors.
- Rent: $90,000 net p.a.
- Outcome: Sold for $1,106,000
- Yield: 8.14%
14 Charlotte Street, Eden Terrace
- Features: 720m2 standalone office and 4-bedroom penthouse apartment plus eight car parks/warehousing on a 311m2 site.
- Outcome: Sold to an owner-occupier for $2,580,000
0-12 Minnie Street, Eden Terrace
- Features: 634m2 office and warehouse building on 1,113m2 site.
- Outcome: Sold for $4,420,000 at $3,971/m2 land value
- Yield: 2.7%
Unit 5, 30 Fleet Street, Eden Terrace
- Features: 120m2 live/work space on Mixed Use site. Fully leased.
- Outcome: Sold for $742,500 incl. GST
- Yield: 4.9%
740 Manukau and 1 Turama Roads, Royal Oak
- Features: 1,012m2 corner development site in two titles in Town Centre zone with additional building height allowance. Occupied by 209m2 childcare centre with final expiry in February 2019.
- Outcome: Sold for $3,600,000 at $3,557/m2 land value
493 Parnell Road, Parnell
- Features: 171m2 villa on a part-share of 860m2 Mixed Use zoned cross lease site with four car parks. Leased short-term with commercial tenancy at the front and a self-contained two-bedroom tenancy at the rear.
- Rent: $74,213 (part gross) p.a.
- Outcome: Sold for $2,005,000
- Yield: 3.07% on part gross rental income
Unit L, 375-389 Khyber Pass Road, Newmarket
- Features: 177m2 first floor office premises plus seven car parks, part of an 18-unit complex.
- Outcome: Sold for $1,220,000
- Yield: 5.49%