A 360sqm workshop with potential for a flat above in Onehunga sells for $585,000

A 360sqm workshop with potential for a flat above in Onehunga sells for $585,000
This vehicle testing station in Christchurch sold for $1.6 million.

A motor vehicle testing station in Christchurch and a light industrial unit with live/work potential at Onehunga in Auckland were among recent commercial property sales completed by Colliers International and Knight Frank.

The vehicle testing station (pictured) at 471 Colombo St in Sydenham, Christchurch was a 440 square metre building on a 1710 square metre site and sold for $1.6 million, providing its new owners with a 7.6% yield. The agent was Craig Edwards of Knight Frank.

The two level Onehunga building had a 140 square metre workshop downstairs and 120 square metres of space upstairs which could be used as an office or converted to residential use. It was vacant and sold for $585,000. The agents were Tim Wylie and Ben Cockram of Colliers.

Colliers also sold a 385 square metre light industrial building with eight car parks in the Wairau Valley on the North Shore, which had a long term tenant in place providing a net return of $50,400 plus GST a year. It sold for $890,000, providing its new owner with a net yield of 5.6%. The agents were Mike Ryan and Janet Marshall.  

 

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Obviously this applies to overseas productions only, since NZ films are non commercial and always lose far more money than they make (and they never make any) but it's definitely something worthy of investigation if you're serious about investment.