Latest commercial property sales had something for everyone with prices ranging from $525,000 to $55 million

The Novotel Ibis Hotel at Ellerslie sold for more than $55 million.

The prices of commercial properties recently sold by Colliers International and Knight Frank ranged from $525,000 for a vacant office on the North Shore to $55 million for the Novotel Ibis Hotel next to Ellerslie racecourse.

The sale of the hotel set several records, including the most expensive non-CBD hotel ever sold in this country.

It was also the largest single hotel sale in this country since the Hilton changed hands 2012.

See below for the full sales results from Colliers and Knight Frank.

Recent sales by Colliers international:

  • Novotel Ibis Auckland Ellerslie Hotel. Sold for just over $55 million. The purchaser was local hotel investment company CP Group.  Dean Humphries, Colliers’ National Director of Hotels, who handled the sale, said it was the highest price ever paid for a non-CBD hotel in this country and provided its new owners with a yield of 7.76%. 
  • 58 Elizabeth St, Tauranga. A 616 square metre office building. Sold for $1.4 million to Farmers Trading Company. The agent was Duncan Woodhouse.
  • 4 Cebel Place, North Harbour, Auckland. A 2731 square metre office/warehouse on a 5000 square metre site. Sold for $4.2 million. The agents were Matt Prentice, Mike Ryan and Adam White.
  • Unit A, 75 Corinthian Drive, Mairangi Bay, Auckland. A 170 square metre office. Vacant. Sold for $525,000, representing $3088 per square metre. The agents were Janet Marshall and Nick Recordan. 

Recently sold by Knight Frank:

  • 195L Main Highway, Ellerslie, Auckland. A 220 square metre, vacant office unit. Sold for $1.05 million. The agent was Damon Wyllie.

If you are interested in buying commercial property,’s commercial property database link has details of nearly 6,000 commercial properties that are listed for sale throughout the country.

To search the database, click on the property tab at the top of this page and then click on “Commercial properties for sale” from the drop down menu, or you can click on the link below:

You can find almost all commercial property for sale in our comprehensive nationwide listings which are searchable across any major type.
Find this free resource here.