Investors achieved net yields ranging from 5.56% to 8.81% at Bayleys' commercial property auctions in Auckland, Tauranga and Wellington

Investors achieved net yields ranging from 5.56% to 8.81% at Bayleys' commercial property auctions in Auckland, Tauranga and Wellington
This retail unit at Pt Chevalier sold for $1.55 million.

There was solid buyer interest at the latest commercial property auctions held by Bayleys in Auckland, Tauranga and Wellington, with several properties available at the affordable end of the market that would appeal to smaller investors.

The biggest auction was in Auckland where 15 properties went under the hammer and sales were achieved on seven of them.

There was a mix of properties from around the region and the prices achieved started at $380,000 for a 45 square metre retail/office unit in the Chancery precinct in Auckland's CBD.

It was providing a net return of $33,500 (plus GST) a year which gave the new owner a net yield of 8.81%.

Other sales at the affordable end of the market included a 110 square metre industrial unit with a 30 square metre mezzanine office in the Wairau Valley that was sold vacant for $440,000, and a retail unit, also in the Wairau Valley, which sold for $550,000 providing a net yield of 5.56%.

One of the most hotly contested properties was a retail unit at Albany with a declared reserve of $750,000. It attracted bids from six potential buyers before it sold for $890,000.

The most expensive sale at the Auckland auction was a retail premises in Henderson that was leased to Super Cheap Auto, which sold for $3.93 million providing a net yield of 5.73%.

At Bayleys' Tauranga auction three commercial properties were offered and two were sold, a retail premises at Bethlehem which went for $1.26 million and a substantial development site in the Tauranga CBD that sold for $6.25 million.

In Wellington a couple of vacant warehouse units in Petone were sold, one for $760,000 and the other for $900,000, while a retail unit in Stokes Valley sold for $280,000 providing a 5.6% yield.

Photos and details of the properties sold at all three auctions are available on our Commercial Property Sales page.

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You lot happy now? Antoine's chef Tony Astle lists his Remuera home a whopping $500k below CV.

"Fools and their money were soon parted....People had more money than they knew what to do with, and they had gone mad. ... It was a very false time."
That clip from the article, could sum up many things over the last decade or so. And let's be honest, it did go to his head a bit!
"Astle, a staunch National Party supporter.... famously banned Helen Clark...from his restaurant."
(NB: Six of his companies were placed in voluntary liquidation on 31/8/18)

Why's he so septic on Labour when his self-professed loadsa-money best times ever were under Labour and directly attributable to their reforms?


bw, Six of Tony Astle's companies were indeed placed into receivership a couple of months ago. This is Tony Astle in Christchurch who owned King of Snakes, Chinwag etc… with 2 financial backers who pulled out a year ago. Easy mistake, I was confused at first as well. (I do know Chch T Astle personally, having lived in Chch for many years, I do know what I'm talking about)

A Nat supporter, is he fleeing to Hawaii?

I notice the advertising here on this site for aussie apartments. LOL. Gee i wonder if it is a good time to buy up apartments in Australia.
Be sure to Not watch bricks and slaughter.

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