Net yields at the latest Bayleys commercial property auction dropped as low as 3.3%

This industrial property in Grey Lynn sold for $920,000, providing a net yield of 3.3%.

A light industrial property in Grey Lynn sold for $920,000, providing its new owners with a net yield of 3.3%.

The Property was one of 17 Auckland commercial properties auctioned by Bayleys last week, where the yields achieved ranged from 3.3% for the Grey Lynn unit to 6.9%.for a large format retail premises leased to RD1 in Helensville, which sold for $2.01 million.

The Grey Lynn property was returning $30,000 a year plus GST and outgoings and sold for $920,000.

Its price was likely helped by the fact it was on a corner site and under Auckland Council’s proposed unitary plan it will be zoned for mixed use, giving the property development potential.

It had a rating valuation of $610,000. 

The full results from the auction, with photos and details of all properties, including those that didn’t sell, are listed below:

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