While you were sleeping investors bought these 15 commercial investment properties on Auckland’s North Shore, at yields ranging from 4.15% to 10.57%…
With a focus on Auckland’s North Shore from the harbour bridge up to Warkworth, we report on 15 commercial investment properties sold recently by Bayleys.
7 Alnwick Street, Warkworth
- Features: 560m2 medical premises on 1,674m2 site leased to the Waitemata District Health Board as community consulting rooms.
- Rent: $104,230 net p.a.
- Outcome: Sold for $1,550,000
- Yield: 6.72%
Unit 5, 67 Auckland Road, Warkworth
- Features: 412m2 retail unit including 106m2 covered patio in the final stage of the Grange Retail Centre off State Highway 1. Leased to Pets North NZ for six years from April 2018.
- Outcome: Sold for $1,160,000
- Yield: 10.57%
58 Rawhiti Road, Whangaparaoa
- Features: 489m2 Manly Medical Centre on 589m2 site. Eight consulting rooms, five treatment rooms, three waiting rooms and large staff room for medical and dental practices. Returning $167,107 net p.a. Future development potential.
- Outcome: Sold for $2,900,000
- Yield: 5.76%
11 William Pickering Drive, Albany
- Features: 1,250m2 industrial building on 3,158m2 site. 800m2 warehouse with 6m stud height plus 450m2 of air-conditioned offices. Large yard at the rear of the site is accessed via a right-of-way off Te Kea Place. Leased to Landscape Solutions Ltd for five years to June 2022 plus 3 x 5-year RoR.
- Outcome: Sold for $4,515,000
- Yield: 4.94%
Unit 4, 18 Airborne Road, Albany
- Features: 120m2 two-level industrial premises.
- Outcome: Sold vacant for $620,000 at $5,167/m2
Unit A, 270 Oteha Valley Road, Albany
- Features: 175m2 restaurant premises plus 50m2 covered outdoor terrace in the Foundation retail complex. Currently leased to Japanese restaurant Daikoku until July 2024 with two, five-year rights of renewal.
- Outcome: Sold for $1,800,000
- Yield: 5.42%
Unit 11, 270 Oteha Valley Road, Albany
- Features: 114m2 retail unit in the Foundation retail complex with open-plan shop floor, kitchenette plus storage at rear.
- Outcome: Sold with vacant possession for $933,100 + GST at $8,185/m2
30 Tarndale Grove, Rosedale
- Features: 1,409m2 refurbished industrial building on 2,514m2 site with 1,036m2 high-stud warehouse accessed by 3 roller doors, 370m2 air-conditioned offices over two levels, and 25 car parking spaces.
- Outcome: Sold with vacant possession for $4,500,000 at $3,194/m2
6A/89 Ellice Road, Wairau Valley
- Features: A bite size 125m2 two-level industrial unit plus two car parks, currently tenanted until April 2020.
- Outcome: Sold for $585,000
- Yield: 5.5%
14/170 Wairau Road, Wairau Valley
- Features: 334m2 retail premises with 100% of NBS seismic assessment in Wairau Junction retail complex. Eight-year lease to Butcher Jacks at $82,075 net p.a.
- Outcome: Sold for $1,363,888
- Yield: 6.01%
15/160-170 Wairau Road, Wairau Valley
- Features: 335m2 bulk retail unit in the Wairau Junction retail centre. Comprises shop, walk-in chiller, and rear-loading area with roller door on corner site. Returning $85,000 p.a. + GST and OPEX. Next rent review in 2021 and final expiry in 2031.
- Outcome: Sold for $1,190,000
- Yield: 7.14%
2/160 Wairau Road, Wairau Valley
- Features: 175m2 retail premises including 46m2 covered terrace.
- Outcome: Sold for $1,827,000
- Yield: 4.99%
120 Wairau Road, Wairau Valley
- Features: 860m2 industrial premises comprising shop-front, mezzanine and rear warehousing plus 17 car parks on 1,525m2 site. Road front position. New six-year lease to The Tile Warehouse, in occupation since 1999, returning $179,327 p.a.
- Outcome: Sold for $4,325,000
- Yield: 4.15%
49 Porana Road, Wairau Valley (pictured above)
- Features: 933m2 fully leased industrial premises spread across three titles, with two units per title. Returning $152,000 p.a. + GST (includes cell phone tower). Unit 1 349m2 returning $50,400 p.a. Unit 2 257m2 returning $45,745 p.a. Unit 3 327m2 returning $55,857 p.a.
- Outcome: Sold for $2,525,000
- Yield: 6.02%
473 Lake Road, Takapuna
- Features: 130m2 refurbished mixed use premises on 197m2 Metropolitan Centre zoned site with a sushi restaurant on the ground floor, apartment on the first level and car parking at the rear. Restaurant rented at $37,692 p.a. and apartment at $426 per week including water. Total return approximately $57,429 p.a.
- Outcome: Sold for $1,195,000
- Yield: 4.81%