Page 23 Advertisements Column 2

Press, 3 August 1985, Page 23

Advertisement Mutual Funds purchases more properties—portfolio now numbers 128

MFL Mutual Fund, the property-based personal superannuation fund, has announced the purchase of ten further properties negotiated in recent months. No. 119 — 186 Favona Road, Otahuhu: A newlyconstructed warehouse/ office of 1844 sq m leased for ten years to Canterbury Timber Products, Ltd, has been purchased for $830,000 from Manukau Construction, Ltd. Mark O’Connell of Realty Brokers, Ltd, was the introducing agent. No. 120 — 108 Captain Springs Road, Te Papapa: An existing warehouse of 2520 sq m leased to Aulsebrooks, Ltd, for nine years, has been purchassed for $1,048,000. Ken Matheson, of Stacey and Wass, introduced the parties. No. 121 — Great South Road, Penrose: A 1470 sq m factory being developed by Fletcher Development, Ltd, and leased to Plastic Rotational Moulding Co., Ltd, for 15 years, has been acquired for $755,000. Paul Malloy, of Wrightson NMA, Ltd, negotiated this sale. No. 122 — 42 Lunn Avenue, Mt Wellington: A 1707 sq m warehouse/office has just been completed by Pace Commercial Holdings, Ltd, leased to Saeco-ADI, Ltd, for ten years. The purchase price was $1,045,000. Warwick Edward, of Bayleys Real Estate, Ltd, introduced the parties. No. 123 — 7 Charann Place, Avondale: A 1516 sq m factory/office leased to I.T.W. (N.Z.)', Ltd, for ten years has been developed and purchased from Project Construction, Ltd, for $775,800. No. 124 — Atlas Place, Mairangi Bay: A 1309 sq m warehouse/office to be constructed by Neil Developments, Ltd, and leased to Intermove Pickfords, Ltd, for 12 years has been purchased for $865,000. No. 125 — 125 Patiki Road, Avondale: A warehouse/showroom of 1330 sq m is to be developed by Project Construction, Ltd, and leased to Pentex Allcolour N.Z., Ltd, for 15 years. The purchase price was $775,000. No. 126 — 238 Thorndon Quay, Wellington: An office/ warehouse of 803 sq m leased to the Crown for 12 years, has been developed by Stevens Consolidated, Ltd. The sale price of $1,475,000 was negotiated by lan Sweetapple, of Paul Hastings Real Estate, Ltd.