Fifty percent sales rate at Bayleys' latest Auckland commercial property auction

This retail premises in Parnell sold for $505,000.

Bayleys sold half the properties at their latest commercial property auction, with more of those that were passed in likely to be sold over the next few days.

Of the 24 properties marketed for sale by auction, 12 were sold, 10 were passed in and two were withdrawn from sale.

The lowest price achieved was $505,000 for a shop in Parnell, about half the price of an average Auckland home, achieving a net yield of 6.48% for its new owner.

Other sales at the affordable end of the price spectrum were a 300 square metre light industrial unit in East Tamaki that sold for $735,000, and a residential conversion in Birkenhead that had been used as a doctor's surgery, which fetched $650,000. 

Two separate retail premises both sold for $4 million, making them the most expensive sales of the day.

One was leased to BNZ and provided a net yield of 5.48%, and the other was leased to Supercheap Auto and achieved a yield of 5.3%.

The full auction results with individual selling prices plus photos and details of all properties, including those that didn't sell, are available on our Auction Results page.

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