Colliers has reported 6 sales around Auckland and another 14 south of the Bombays and in the South Island, some dating back a few months.
Bayleys agents have sold a refurbished Penrose showroom at a 5.1% yield, and 2 warehouses in Grey Lynn & East Tamaki.
2 light industrial properties were passed in at Barfoot & Thompson Commercial auctions this week, at land prices illustrating how acute the supply of industrial land around Auckland has become.
An East Tamaki warehouse unit was sold at Bayleys’ auction last week, but a Courtville apartment opposite the High Court and a Half Moon Bay townhouse were passed in.
Bayleys agents have sold a 3.5ha light industrial site at Hobsonville, 3 adjoining industrial units in East Tamaki to one buyer and a cross-leased industrial property in Wiri.
A half-hectare East Tamaki property sold in November 2016 for $560/m² has been resold at $820/m² – a 46% gain in 29 months for a site that’s advanced from bus depot to car sales yard.