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%
This content is provided for general information only and should not be relied upon or used as a basis for making any investment or financial decision. To the extent that any information or recommendations in this content constitute financial advice, they do not take into account any person’s particular financial situation or goals. As individual circumstances differ, we strongly recommend you seek independent legal and/or financial advice prior to acting in relation to any of the matters discussed herein. Neither Newland Burling & Co Ltd nor Provincia Property Fund Management Ltd nor any person involved in this content accepts any liability for any loss or damage whatsoever may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in this content.