10 properties sold under the hammer out of 16 on offer on Wednesday at Bayleys’ third Auckland Total Property auction of the year.

The auction attracted a mix of investors, not dominated by the hard-nosed investment atmosphere that’s permeated many of these auctions in the past.
Yields were softer – none slipping under the 5% barrier, which was a frequent occurrence 2-3 years ago.
CBD
Victoria Quarter
245 Hobson St:
Features: 389m² site, 1049m², 3-level floorspace, 11 ground-floor parking spaces
Rent: offered vacant
Outcome: no bid
Agents: Quinn Ngo & James Chan
Isthmus east
Grafton
182 Symonds St, unit G1:
Features: 95m² open-plan retail, showroom or office, option of 1-2 parking spaces for lease
Outcome: no bid
Agents: Eddie Zhong & Sarah Richardson
Mt Wellington
224 Marua Rd:
Features: 827m² site, 531m² roadfront warehouse, 3 front parking spaces + 8 stacked side spaces
Outcome: sold vacant for $1.37 million
Agents: Jarrod Qin
St Johns
120 Felton Mathew Avenue:
Features: 4700m² site zoned business mixed use (21m height limit), 2200m² floor area, fully leased, in a growth area
Rent: $270,000/year net + gst
Outcome: sold for $4.8 million at a 5.63% yield
Agents: Laurie Bell & Kate Kirby
Isthmus west
Avondale
9 St Jude St:
Features: 1104m² site zoned business mixed use (21m height limit), 2 separate buildings totalling 604m², development potential
Rent: $102,487/year net + gst
Outcome: sold for $1.75 million at a 5.86% yield
Agents: Layne Harwood & Kate Kirby
Mt Eden
45C Normanby Rd:
Features: 516m², office & showroom refurbished in 2015, 19 parking spaces
Rent: $188,236/year net + gst, 2-yearly CPI + 1% rent review due in July
Outcome: sold for $3.085 million at a 6.1% yield
Agents: Mike Adams & Jean-Paul Smit
Ponsonby
2B Jervois Rd:
Features: 117m² retail space, exclusive secure basement parking space, occupied by Askew Design Store for 25 years, offered vacant
Outcome: no bid
Agents: Mike Adams & Jean-Paul Smit
North-east
Albany
156 Bush Rd, unit G:
Features: 263.7m² roadfront high stud industrial unit, air-conditioned offices & showroom, seismic rating A grade – warehouse 141.m², showroom & offices 122.2m², 6 parking spaces
Outcome: sold vacant for $1.25 million
Agents: Matt Mimmack & Rosemary Wakeman
Orchard Park Retail Hub, 21 Corinthian Drive, unit 6B:
Features: 144m² retail unit, leased to restaurant for 9 years
Rent: $90,000/year net + gst + outgoings
Outcome: sold for $1.7 million at a 5.3% yield
Agents: Eddie Zhong & Steven Liu
Silverdale
Vantage Point, 2181 East Coast Rd, unit 1:
Features: 120m² retail, 45m² covered patio, leased to Ground Control Café
Rent: $55,000/year net + gst + outgoings
Outcome: passed in at $870,000
Agents: Eddie Zhong & Michael Nees
Wairau Valley
Wairau Junction, 170 Wairau Rd, unit 14:
Features: 334m² floor area, tenanted by Butcher Jacks, seismic rating 100% new building standard, rent review this month
Rent: $82,075/year net + gst
Outcome: withdrawn from auction
Agents: Matt Lee, James Chan & Ranjan Unka
Wellsford
215 Rodney St:
Features: 453m² corner site, 117m² standalone premises leased to Subway since 2006
Rent: $44,799/year net + gst + outgoings
Outcome: sold for $851,000 at a 5.26% yield
Agent: Henry Napier
North-west
Henderson
86 Railside Avenue:
Features: 2106m² corner site near West City mall, medium to long-term development potential, currently a caryard
Rent: $185,000/year net + gst + opex
Outcome: no bid
Agents: Stuart Bode & Mike Bradshaw
South
Manukau
132 Cavendish Drive, unit E:
Features: 588m² tilt-slab unit, showroom, office & warehouse
Rent: $125,725/year net + gst + outgoings, new 8-year lease, fixed 2.5%/year rental growth
Outcome: sold for $2.19 million at a 5.74% yield
Agents: Tony Chaudhary, Janak Darji & Amy Weng
130 Dawson Rd, unit 3:
Features: 120m² retail unit tenanted by Kiwibank & NZ Post franchise
Rent: $43,000/year net + get + outgoings
Outcome: sold for $781,000 including gst at a 5.5% yield
Agents: Geoff Wyatt & Nick Bayley
Pukekohe
15 Crosbie Rd:
Features: 1.1637ha in central business precinct, 2588m² floor area
Rent: $327,331/year net + gst + outgoings on lease expiring at the end of this year
Outcome: passed in on $3.2 million vendor bid
Agents: Shane Snijder & Peter Migounoff
South of the Bombays
Ohakune
101 Goldfinch St:
Features: 2288m² site, 18 self-contained units, 3 manager rooms
Rent: $108,300/year net + gst, 30-year lease from 2014
Outcome: sold for $1.406 million at a 7.7% yield
Agents: Nicolas Ching, James Chan & Jenny Dekker
Attribution: Auction.