Around the block

REINZ headquarters sold The national head office of the Real Estate Institute of New Zealand has been sold for $ 6.225 million to an Auckland family business for its new premises. The 758sq mbuilding, in the heart of Parnell in Auckland, sits on 1813sq mof land and was sold following a successful international tender campaign managed by James Chan and Cameron Melhuish of Bayleys Real Estate. Silverdale retail snapped up Four tenanted retail units in a new convenience shopping centre at 16 Wainui Rd, Silverdale, have been sold under the hammer through Charlie Oscroft, Deborah Dowling and Andrew Reed of Colliers International. The units, which are occupied by Westpac, Coffee Club, Burger Fuel and Wild Grain Bakery, sold for between $ 732,500 and $ 1.92 million at low yields ranging from 4.97 per cent to 5.5 per cent. A fifth unit, occupied by Mad Butcher, was sold before auction. North Shore investment sale A modern office and warehouse property at 66B Paul Matthews Rd, Albany, has been sold under the hammer to an investor for $ 1.24 million through Matt Prentice and Mike Ryan of Colliers International. The property is occupied by Fuji Xerox on a fouryear lease, returning net annual income of $ 90,000. Rothesay Bay development site A 1298sq mproperty at 579- 587 Beach Rd, Rothesay Bay, has been sold to a developer for $ 1.29 million through Deborah Dowling and Euan Stratton of Colliers International. Three existing commercial tenancies plus a residential tenant return $ 33,775 a year. Oteha technology sublease A 1689.5sq moffice floor on level 3 of a mixed- use complex with 60 external carparks at 260 Oteha Valley Rd, Albany, has been subleased to a technology company for $ 423,795 plus GST a year, at $ 210 per sq m, by Caleb and Giovanna Belling of Bayleys North Shore Commercial. Albany workshop hammered A 325 sq mworkshop building on 809 sq mat 14 Gills Rd, Albany, in which two automotive tenancies recently renewed their leases, was sold at auction through Laurie Burt and Ashton Geisller of Bayleys North Shore Commercial for $ 633,000, at a 5.9 per cent yield