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A commercial property at 270-29 Mahurangi East, which houses The Warehouse retail centre, is on the market for $7.6 million. The property, which is zoned business – local centre, is being marketed by Bayleys. Bayleys in the North director Mark Macky says a tender process, which closed in late October, attracted a good mix of local and national enquiries, and some international interest. “There was also strong interest from the Auckland investor market,” Mr Macky says. The Warehouse is on a 10-year lease until 2022, generating a net rental return of $563,269 plus GST. Mr Macky says it offers a strong investment opportunity, with a good tenancy, and in an area earmarked for significant growth. The property was last sold in August 2012.
