Bayleys’ latest Total Property auction results reflect ongoing demand for diversified assets, with metro Auckland retail and industrial units performing well. Lower north island industrial offerings drew interest for their add-value potential. Regional centres delivered a mix of yield-driven and vacant possession sales, highlighting broad investor appetite across sectors and locations.

 

AUCKLAND

Unit C, 20 Wainui Road, Silverdale: A 188sqm commercial unit, located at the prominent junction of Silverdale and Wainui Roads, has sold post-auction for $790,000. The property forms part of a modern retail hub and features the possibility to divide the floorspace into two tenancies. Neighbours include ASB Bank, Westpac Bank, and a selection of popular food retailers. (Marie Hansen, Graeme Perigo, Bayleys Commercial in the North)

Unit 1, 252 Oteha Valley Road, Albany: A high-profile retail unit comprising a 162sqm floor area has sold for $1,657,000, achieving a yield of 6.22%. The premises is located in a high-traffic zone, surrounded by major retailers and national brands within Albany’s premier retail and commercial hub. The property is occupied by an established sushi restaurant with favourable lease terms, including fixed annual rental increases. (Ranjan Unka, Steven Liu, Bayleys North Shore)

Unit C, 84 Elizabeth Knox Place, St Johns: A 100sqm industrial unit has sold at auction with vacant possession for $635,000. The property was sold for the first time in two decades, featuring high-stud warehousing, a separate workshop, a mezzanine office, and amenities, in a popular eight-unit development proximate to the Southern Motorway and the Auckland CBD. (Matt Dell, William Gubb, Bayleys South Auckland)

WAIKATO/BAY OF PLENTY

58 Kupe Drive, Whitianga: A purpose-built childcare centre operating as the Mercury Bay Preschool, occupying a 986sqm site on the fringe of Whitianga’s central business district, has sold for $1,590,000, reflecting a 5.78% yield. The two-level, 322sqm building and a separate two-bedroom apartment are occupied by the early education and care centre, which has a current lease term and 3x4yrRoR. The opportunity is supported by substantial local investment and economic growth, evidenced by a major 21ha residential subdivision taking place nearby.(Josh Smith, Bayleys Hamilton)

144 Sloane Street, Te Awamutu: A 305sqm industrial premises and two car parks were sold post-auction for $795,000. Occupying a 379sqm site in central Te Awamutu, the property features 48sqm of showroom/offices on the ground floor, 211sqm of warehousing, and 45sqm of air-conditioned offices above with a seismic assessment of 95% of New Building Standard (NBS). (Willem Brown, Bayleys Hamilton)

1178-1180 Hinemoa Street, Rotorua: A 714sqm multi-tenanted commercial building on a 594sqm freehold corner site has sold at auction for $171,000, delivering a 6.30% yield. The property comprises 418sqm on the ground floor and 296sqm on the first floor, currently occupied by three tenants – a gym, a gift store, and takeaway – on short-term lease agreements. The building has a seismic rating of 25% of NBS. (Mark Slade, Damien Keenan, Brei King, Bayleys Rotorua)

LOWER NORTH ISLAND

45 Fitzherbert Street, Petone: A 1980s 385sqm industrial premises has sold with vacant possession for $875,000. Comprising warehousing, showroom, and offices with a seismic assessment of 70% of NBS, the property occupies a 455sqm site in Petone Central with four car parks, offering versatility and location for a variety of business requirements. (Richard Faisandier, Christian Taylor, Bayleys Wellington)

47 Fitzherbert Street, Petone: A 482sqm industrial premises comprising ground floor showroom, well-presented first floor offices and column-free warehousing with a seismic assessment of 70% of NBS, has sold with vacant possession for $1,075,000, indicating a potential net yield of 8.59% if fully occupied. The property features four car parks and is conveniently connected to the central business district via State Highway 2. (Richard Faisandier, Christian Taylor, Bayleys Wellington)

SOUTH ISLAND

37 Wickham Street, Bromley: A 1,012sqm bare land site zoned Industrial Heavy has sold for $438,000, achieving the top price in the Bromley Industrial precinct, reflecting a land rate of $432/sqm. The property features nearly 21m of frontage in a prime industrial area, with security fencing and vacant possession. (Benji Andrews, Terry Connolly, Bayleys Christchurch)

10B Vulcan Place, Middleton: A 265sqm industrial unit with eight car parks has sold with vacant possession for $680,000. The property, which comprises a functional mix of warehouse, air-conditioned offices and showroom accommodation in Industrial Heavy zone, is strategically located with easy connections to major arterials and motorway interchanges. (Simon Lagan, Bayleys Christchurch)

407 Ferry Road, Woolston: A 290sqm commercial investment, seismically strengthened to 67% of NBS in 2022, has sold for $750,000, achieving a 6.00% yield. The property, which was offered to the market for the first time in 25 years, comprises two levels of workshop, showroom and offices on a 491sqm site, well-located on one of the area’s major arterials. An auto business occupies the premises under a lease that expires in 2026, with an interest in pursuing a new lease arrangement. (Blair Young, Bayleys Christchurch)