Strong bidding shows sustained demand
Four commercial investments have sold under the hammer at Colliers International’s latest auctions at its North Shore and Auckland CBD offices.
A retail/medical development at Unit 2, 651 Whangaparaoa Road sold under the hammer at the North Shore auction yesterday for $1,410,000, with a yield of 4.83 per cent.
Unit 3 of the same development sold for $580,000, with a yield of 4.74 per cent.
The deals were brokered by Euan Stratton and Jessica Martin of Colliers International.
“The strong bidding on these two Stanmore Bay investments shows there is sustained demand for quality North Shore retail investment stock,” Stratton says.
Also at the North Shore auction, a 170sq m commercial office at H3, 18 Triton Drive, Albany sold for $985,000. The deal, brokered by Janet Marshall, Nick Recordon and Kerry Cook of Colliers International, represented a yield of 6.62 per cent.
At the Auckland CBD auction yesterday, an industrial warehouse at 12N Andromeda Road, East Tamaki, sold under the hammer for $740,000. The deal was brokered by Jolyon Thomson and Jeremy Barnett.
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