The prices of commercial properties sold recently by Bayleys and Colliers International ranged from $340,000 for a retail premises in Lower Hutt, to $9.5 million for a car park with development potential in Auckland’s CBD.
Bayleys’ Wellington office sold seven of the 11 commercial and industrial properties it took to auction this week, with prices ranging from $340,000 for a shop in Whitby with a one bedroom flat attached, which provided its new owners with a yield of 8.24%.
At the same auction a tenanted warehouse/office building in Lower Hutt sold for $406,000 providing a yield of 14.5%.
Colliers has also had a string of commercial sales from Palmerston North to Auckland, including a childcare centre on the North Shore that sold for $2.53 million providing a yield of 5.3%, and a retail premises on Hamilton’s main street that sold for $1.86 million providing a yield of 6.23%.
See below for details of recent sales from both agencies:
Wellington commercial properties auctioned by Bayleys:
Auckland commercial property sales by Colliers International:
Also sold by Colliers International:
- 35 Poturi St, Tauranga. An 1100 square metre Warehouse/office on a 2721 square metre site. Sold for $1.57 million providing a yield of 7.7%. the agents were Simon Clark and Rob Schoeser.
- 411-415 Victoria St, Hamilton. A newly refurbished 280 square metre retail premises on a 334 square metre site, leased to a listed company until 2025. Sold for 1.86 million, providing a yield of 6.23%. The agents were Mark Brunton and Justin Oliver.
- 34A and 34B Portage Rd, New Lynn. Two adjacent industrial buildings with a combined floor space of 3153 square metres on a 5340 square metre site. Both leased to a single tenant and providing combined net rental income of $188,609 a year. Sold for $2.4 million providing a yield of 7.8%. The agents were Dhiru Patel and Chris Upright.
- 427 Rangitikei St, Palmerston North. A 1930 square metre warehouse on a 5071 square metre site. Sold for $1.45 million providing a yield of 8.44%. The agents were Grant Lloyd, Doug Russell and Phil Nevill.
- 2-8 Anzac St, Auckland CBD. A 938 square metre site currently used as a car park, zoned for development up to 50 metres high. Sold for $9.5 million. The agents were Adam White, John Davies and Jasmin Yao.
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