Total Property Issue 1 2026 auction results

Bayleys’ latest Total Property auction results highlight consistent buyer engagement across industrial, retail and development-led opportunities with competitive bidding and a broad purchaser pool supporting transactions nationwide. Demand remains firmly underpinned by investors, with owner-occupied opportunities, small-format industrial and strategic landholdings attracting particular attention.

 

AUCKLAND

Unit 9, 25 Corban Avenue, Albany: A commercial investment totalling 58sqm in The Foundation retail precinct has sold for $500,000, reflecting a 6.27% yield. The property is leased to a Chinese restaurant on a three year term through to 2027, with renewal rights, and is underpinned by two personal guarantees and a rental bond. (Matt Lee, James Chan, Bayleys Auckland Central; Steven Liu, Bayleys North Shore)

Unit 5, 3 Workspace Drive, Hobsonville: A 150sqm industrial unit has sold under the hammer at auction for $850,000, with vacant possession. The property comprises high-stud warehousing with mezzanine offices and on-site car parking, located in a business precinct with historically low vacancy. (Alister Hitchcock, Mark Preston, Bayleys Northwest)

Unit J, 18 Moselle Avenue, Henderson: A 220sqm industrial unit in a well-established precinct has sold with vacant possession for $610,000. The property comprises a high-stud warehouse with roller door access, complemented by two-level office accommodation and three on-site car parks. Sold under the hammer following competitive interest at auction, it appealed to a broad buyer base for its functional layout and strategic location off Lincoln Road and the State Highway 16 interchange. (Alister Hitchcock, Mark Preston, Bayleys Northwest)

3013-3015 Great North Road, New Lynn: A high-profile landholding comprising a 1,214sqm site with a low site coverage has sold for $2,325,000, reflecting a 4.95% yield. Positioned on the corner with Great North Road and Crum Avenue, the property benefits from approx. 70m of frontage to a key arterial route and was sold under the hammer at auction following competitive bidding from five registered parties. Zoned Business – General Business, it offers flexible future use and clear development upside, underpinned by its favourable build-to-site ratio. The property is currently configured as a car yard, leased to a single tenant through to 2027, with 1x3yrRoR. (James Were, Bayleys Auckland Metro; Beterly Pan, Bayleys Northwest)

7 Gundry Street, Auckland Central: A mixed-use character villa comprising 126sqm on a 303sqm Business – City Centre zoned site has sold under the hammer at auction for $1,350,000, with vacant possession. The property is configured as two offices with supporting amenities, opening to a covered deck and landscaped courtyard, and further benefits from secure basement garaging and two storage areas. Positioned on the edge of the regenerating Uptown precinct, it offers proximity to Karangahape Road and key motorway interchanges. (James Were, Bayleys Auckland Metro; Ben Wallace, Bayleys Auckland)

Unit J, 21 Lorien Place, East Tamaki: A 1,222sqm industrial unit, proximate to the Highbrook interchange, has sold for $3,400,000, returning $240,680 pa from three tenancies, reflecting a 7.07% yield on a semi-gross basis. Constructed in 2004, the fully leased property is occupied by two industrial tenants and one residential user, with future potential to reconfigure the asset for full industrial use. Positioned within one of New Zealand’s premier industrial precincts, it is surrounded by major logistics and manufacturing occupiers, including Fisher & Paykel, Mainfreight and DHL. (Tim Bull, Peter Hwang, Tom Doyle, Bayleys South Auckland)

Unit E, 3 Smales Road, East Tamaki: A 500sqm industrial investment with 10 on-site car parks has sold under the hammer at auction for $1,800,000, reflecting the current market yield of 5.50%. Located in an established five-unit development, the property is occupied by an established engineering tenant and comprises high-stud warehousing and office accommodation across two levels, featuring ground floor access via four roller doors. (Tom Doyle, Harrison Gregory, Bayleys South Auckland)

Unit 13, 27 Toiawaka Road, Drury: A modern industrial unit comprising 130sqm in the new Toiawaka Road development has sold for $820,000, reflecting a 5.74% yield, and a building rate of $7,592/sqm excl. canopy. The property comprises high-stud warehousing with office accommodation and two on-site car parks, and is leased to a trades-based tenant on a new five year term with 2x2yrRoR. The lease is underpinned by fixed annual increases of three percent and market rent reviews at renewal. (Mike Marinkovich, Mike Hook, Bayleys South Auckland)

10 Maxted Road, Ramarama: A 9,568sqm landholding in Rural Industry zone, at the southern edge of the new Drury South Crossing precinct, has sold with vacant possession for $1,900,000. The property is improved by buildings totalling 332sqm, including a four bedroom dwelling, newly constructed warehouse, site office, shed and storage, supported by a large, metalled yard with dual frontage to Ararimu and Maxted Roads. Well-positioned to benefit from significant investment in the surrounding area, it is proximate to major occupiers, including Kiwi Property, Fulton Hogan and Fisher & Paykel’s planned healthcare campus. (Shane Snijder, Mike Hook, Bayleys South Auckland)

WAIKATO/BAY OF PLENTY

37-39 Bow Street, Raglan, Waikato: A block of retail tenancies totalling 213sqm on Raglan’s primary retail strip has sold for $1,700,000. Situated on a 486sqm Business – Town Centre zoned site with rear access, the property offers flexibility for a range of mixed-use outcomes and future development potential. Occupiers included a Liquid Laundromats franchise and an established bakehouse with varying lease profiles. (Jordan Metcalfe, Rebecca Bruce, Bayleys Hamilton)

Unit 4, 183 Maui Street, Te Rapa, Hamilton: A small-format industrial unit comprising 132sqm with two on-site car parks in a recently completed development has sold with vacant possession for $495,000. The architecturally designed unit is one of 10 within a boutique, security-controlled complex, providing high-stud warehousing and functional amenities. Positioned in a low-vacancy industrial precinct near Pukete and the established Te Rapa hub, the property benefits from access to the State Highway network. (Travis Cashmore, Darren Anderson, Bayleys Hamilton)

 

 

80 Duke Street, Frankton, Hamilton: A 1,012sqm commercial landholding, strategically positioned at the intersection with State Highway 1C, has sold under the hammer at auction for $1,150,000, with vacant possession. The 534sqm premises comprise 367sqm of warehousing supported by 102sqm of showroom and office accommodation, in addition to 62sqm of storage. (Darren Anderson, Bayleys Hamilton)

15 Birch Avenue, Judea, Tauranga: A high-profile 1,752sqm industrial landholding on the corner with main arterial Waihi Road has sold under the hammer at auction for $4,270,000, reflecting a 5.56% yield. The property is occupied by national fuel retailer Gull New Zealand on a 10 year term plus 3x7yrRoR. The tenant has invested significantly in a purpose-built, unmanned service station comprising eight bowsers and modern underground storage infrastructure. (Brendon Bradley, Bayleys Tauranga; Mike Houlker, Bayleys Auckland)

9 Gilltrap Street, Mangakakahi, Rotorua: A tenanted investment comprising 515sqm of offices, showroom and warehousing on an 809sqm site has sold under the hammer at auction for $995,000, reflecting a 6.80% yield. The property is leased to an established national electrical supplier, which has exercised the second of 3x3yrRoR. (Damien Keenan, Brei King, Mark Slade, Bayleys Rotorua)

107-109 The Strand, Whakatane: A 440sqm retail unit on Whakatāne’s primary shopping strip has sold under the hammer at auction for $1,160,000, reflecting a 7.30% yield. Occupying a 440sqm site, the premises comprise a showroom, storage, staff amenities and rear access via Canning Place. The tenant, an established charity shop, has recently renewed their lease for a further three year term. (Larissa Reid, Bayleys Whakatāne)

LOWER NORTH ISLAND

213-215 Oxford Street, Levin, Horowhenua: A 945sqm retail investment on a 999sqm site in Levin’s town centre has sold for $1,570,000, reflecting a yield of 9.80%. The property, strengthened to 80% of NBS in 2015, is leased to two national tenants; with BNZ having occupied the premises for more than 20 years and clothing retailer Postie recently recommitting to a new five year lease, extending tenure through to 2031.(Mark Sherlock, Johnny Curtis, Bayleys Wellington)

Unit 5, 55 Kenepuru Drive, Porirua: An industrial unit totalling 260sqm with one on-site car park has sold with vacant possession for $560,000, reflecting a 7.31% yield based on a potential net income of $40,942 pa. The recently refurbished property comprises high-stud warehousing, office accommodation and full amenities accessible via a roller door. (Simon Butler, Liam Sherlock, Bayleys Wellington)

13 Udy Street, Petone, Lower Hutt: A 779sqm corner site with future development potential has sold with vacant possession for $860,000. Designated for high-density residential use, the property benefits from proximity to the State Highway network, public transport links and key employment and amenity hubs across Lower Hutt. (Paul Cudby, Ethan Hourigan, Andrew Smith, Bayleys Wellington)

South Island

17 Strathallan Street and 2 The Terrace, Timaru: A refurbished and seismically strengthened commercial premises with two levels of retained character architecture totalling 1,017sqm sold for $1,850,000, reflecting an 8.23% yield. The property occupies a two title parcel of 1,280sqm zoned Commercial 1B, occupied by a prominent South Canterbury law practice, which has recently signed a new nine year lease to February 2035 plus 2x5yrRoR. (Stewart White, Alex White, Shona Brown, Bayleys Christchurch)