The yields at Colliers latest commercial property auction dipped well below 4% with a property at Devonport on the North Shore achieving a yield of 3.6% and another at Avondale achieving 3.89%.
The yields on four shops in the same block at Glen Eden ranged from 4.68% to 7%, and Knight Frank sold a large industrial property at Papakura for $7.95 million.
See below for the details:
Commercial Properties Sold at Auction by Colliers International:
- 4034 - 4038 Great North Rd, Glen Eden, west Auckland. A block of four retail shops (pictured at right) that were sold separately at auction: a 68.6 square metre shop leased to Bruce Lee Sushi, sold for $635,000 providing a yield of 4.68%; an 88.7 square metre premises leased to Pita Pit sold for $800,000 providing a yield of of 4.7%; a 124.5 square metre shop leased to Arum Cafe sold for $910,000 providing a yield of 5.5%; a 392.9 square metre premises leased to Snap Fitness sold for $1.825 million providing a yield of 7%.
Other Properties Auctioned by Colliers International included:
Recent Commercial Property Sales by Knight Frank:
- 62 Hunua Rd and 2 Croskery Rd, Papakura. A large industrial property on two sites with a combined land area of 9903 square metres and building floor area of 5823 square metres. Sold for $7,950,000. The agents were Damon Wylie and Layne Harwood.