Bayleys’ latest Total Property auction results show improving investor confidence across regions, with South Auckland and Christchurch industrial assets leading on yield and occupancy. Development-linked land sales in South Auckland and North Waikato reflect strategic long-term strategy, while lower North Island and CBD vacancies suggest interest on future upside and owner-occupancy.

 

AUCKLAND

87 Mill Road, Pukekohe East: A 10.32ha north-facing rural landholding with diversified income from four tenancies - including two residential, one industrial, and one agricultural user - has sold for $3,500,000, reflecting a 6.11% yield. Improvements across the site total 780sqm, including warehousing, sheds and two dwellings. The property is anchored by industrial tenant Into Rock Drilling, which holds a lease through to April 2026 with 1x2yrRoR. Strategically positioned within Auckland’s southern growth corridor and the Golden Triangle, the property offers long-term development potential. (Shane Snijder, Bayleys South Auckland)

164-166 Manukau Road, Pukekohe: Two refurbished 1970s-era warehouses, connected by a central canopy and comprising a combined 914sqm on a 1,695sqm Business – Light Industry zoned site, have sold for $4,650,000, reflecting a 6.38% yield. The property features a fully concreted yard providing vehicle circulation and car parking, along with 36m of high-profile frontage to Manukau Road. It is tenanted by international automotive parts supplier NAPA Autoparts on an eight year lease with 2x6yrRoR. (Mike Hook, Shane Snijder, Bayleys South Auckland)

171 Manukau Road, Pukekohe: A tenanted investment on a prominent 360sqm corner site at the intersection of Svendsen Road and Nelson Street has sold for $650,000, achieving a 6.92% yield. The 300sqm two-level building comprises a ground-floor reception and consultation rooms, along with an open-plan mezzanine and adjoining garage with roller door access. The property is occupied by community health provider Whānau Ora. (Mike Hook, Shane Snijder, Bayleys South Auckland)

WAIKATO/BAY OF PLENTY

17 Keith Camp Place, Morrinsville: A 2,988sqm bare industrially zoned site within Morrinsville’s western growth precinct has sold for $500,000, reflecting a land rate of $167/sqm. The section forms part of the wider cluster of five industrial parcels at Keith Camp Place, positioned on the edge of the town’s existing industrial zone. Zoned General Industrial under Matamata Piako District Council’s Plan Change 58, the site benefits from proximity to established logistics and engineering businesses, offering the potential for bespoke development. (Josh Smith, Bayleys Hamilton)

LOWER NORTH ISLAND

227-229 Waiwhetu Road, Fairfield, Lower Hutt: A purpose-built automotive workshop totalling 310sqm has sold with vacant possession for $516,000. Prominently positioned on the corner with Fairfield Avenue, the 602sqm site in Suburban Mixed Use zone features car parking for seven vehicles and drive-through access with a projected net income circa $54,402 pa. (Ethan Hourigan, Paul Cudby, Bayleys Wellington)

Unit 6, 148 Cuba Street, Te Aro: A 536sqm penthouse-level office, including two car parks with a prominent north-facing outlook over Cuba Mall towards Cuba and Garrett Streets, has sold with vacant possession for $185,000. Occupying the entire floor of a modern seven-storey building zoned Central Area, the property has a seismic rating of 50 percent of New Building Standard and offers a projected net rental income of $64,806 pa when leased. (Mark Sherlock, Mark Walker, Bayleys Wellington)

SOUTH ISLAND

17 Avenger Crescent, Wigram, Christchurch: A modern 985sqm industrial warehousing, showroom and office facility, plus 10 car parks, has sold for $2,525,000, reflecting a 5.15% yield. Positioned on a 1,436sqm General Industrial-zoned site, the property benefits from high visibility and a prominent corner location with Morse Road, within Wigram Business Park, an established industrial hub near key arterial routes and the Southern Motorway. The premises are fully tenanted with a 3.16 year WALT. First Security, New Zealand’s largest security services provider, holds a lease through to June 2029, while packaging business Paclink occupies the second warehouse and associated office space on a lease running through to August 2027. (Steven Schwalger, Graeme Donaldson, Bayleys Christchurch)

21A King Street, Parkside, Timaru: A 90sqm light industrial property comprising a three-bay workshop with a service pit, office, and storage areas has sold with vacant possession for $280,000. The 483sqm site in Industrial Light zone is the rear of two, held on an its own title in an accessible location proximate to key arterial links. (Shona Brown, Bayleys Timaru; Scott Bentley, Bayleys Christchurch)