While you were sleeping investors bought these 6 Auckland commercial investment properties, including one once owned by Olly Newland in his Landmark days…
Bayleys agents sold 6 Auckland commercial properties recently, including one once owned by Olly Newland’s company Landmark Corporation, and another that sold for a 10.6% yield. The combined value of the 6 transactions was $18.5 million.
2 Mountain Rd, Epsom
- Features: 1,113m2 land in Double Grammar Zone (Auckland Grammar and Epsom Girls Grammar schools) position. Just off Khyber Pass Rd and a short distance from Broadway and Newmarket. With a Metropolitan Centre zoning and resource consent in place for an 11-level mixed use development, the property was pitched at developers and land bankers. But, hedging their bets, the agents also highlighted the multiple character buildings totalling approximately 644m2 plus 12 car parks and suggested it was also perfect for owner-occupiers.
- Outcome: Sold for $6.6 million (CV $5.2 million)
- Points of Interest: This property was once owned by Olly Newland’s company Landmark Corporation back in the 80s. Note the real estate agency photo above contains the words “Retouched image”. Here’s what it actually looks like, LOL…
564 Great North Rd, Grey Lynn
- Features: 160m² single-level commercial unit of 1950s construction on 185m² site. Sold with vacant possession.
- Outcome: Sold for $1.1 million
24 Clifton Court, Panmure
- Features: 955m² offices, retail & warehousing on 690m² site. Leased to tertiary training provider. Pitched as having “significant holding income that allows you ample time to work on your plans”.
- Rent: $115,000 net p.a.
- Outcome: Sold for $1.09 million
- Yield: 10.6%
8 Mountwell Crescent, Mt Wellington
- Features: 815m² office building with secure drive-through basement parking for 24 cars and internal pedestrian access on 1,072m² north-facing site in town centre zone. Sold with vacant possession.
- Outcome: Sold for $3.2 million
59B Sir William Ave, East Tamaki
- Features: 1,232m² industrial premises comprising 812m² high-stud warehousing with dual roller door access, 65m² mezzanine, 210m² showroom, 145m² offices, and 345m² yard/parking on light industry-zoned corner site. Seismic assessment of 100% NBS. Sold with vacant possession.
- Outcome: Sold for $3.35 million
15 Crosbie Rd, Pukekohe
- Features: 1.164ha landholding with an old FCP + RMP food processing facility in the heart of Pukekohe. Sold with vacant possession.
- Outcome: Sold for $3.15 million to an owner-occupier intending extensive redevelopment.
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.