Market activity is beginning a quiet recovery, with key players re-entering and off-market transactions on the rise. Recent auction results indicate a market that remains subdued, though interest is growing in sub-$5 million investment-grade properties and assets over $20 million. Strategic focus is shifting forward, and Bayleys anticipates a strong start to the new year

 

WAIKATO/BAY OF PLENTY

164 Whitaker Street, Te Aroha: 560sqm commercial block comprising four separate tenancies sold for $600,000 at an 11.33% yield. The 1,473sqm corner site benefits from good visibility to passing pedestrian and vehicle traffic which is an advantage for the mix of professional and national brand occupants. (Josh Smith, Bayleys Hamilton)

54 Main Street, Huntly: Retail block totalling 638sqm sold for $630,000 returning $77,000 net pa from four tenancies and an upstairs vacancy. The 716sqm site occupies a main street position elevated above the Waikato River, offering future development potential from refurbishment, redevelopment or residential conversion. (Josh Smith, Bayleys Hamilton)

140 Main Street, Huntly: 150sqm retail investment in the heart of the Huntly township sold for $305,000 at a 6.43% yield. The property features a distinctive Art Deco façade and occupies a triangular-shaped site of 161sqm with an upmarket industrial-style interior aesthetic and rear car parking access via Venna Fry Lane. (Josh Smith, Bayleys Hamilton)

302 Great South Road, Huntly: 110sqm earthquake-prone building with a seismic assessment of 18% of NBS - requiring remedial strengthening by November 2035, sold for $190,000 at a 10.52% yield. The rectangular-shaped site of 177sqm is occupied by an established takeaway shop which has been in occupation since 2018, with a current 10 year lease term and further renewal rights. (Josh Smith, Bayleys Hamilton)

Unit 9, 4 Brent Grieg Lane, Te Rapa: 144sqm industrial unit plus three car parks sold with vacant possession for $620,000. Recently completed in early 2023, the property features a modern design, high-stud warehouse with anterior car parking in a drive-through, fully secured complex with dual access via Kiriwai Kaui Drive. (Rebecca Bruce, Jordan Metcalfe, Bayleys Hamilton)

SOUTH ISLAND

413 Tuam Street, Phillipstown, Christchurch: 517sqm industrial premises plus six car parks on an 875sqm site zoned Industrial General, sold with vacant possession for $935,000. The property, on the corner with Saxon Street, comprises a functional warehouse, office/showroom, amenities and a plinth for signage and branding. (Benji Andrews, Bayleys Christchurch)

39B Sonter Road, Wigram, Christchurch: 464sqm industrial unit plus four car parks sold for $990,000 at a 5.86% yield. Comprising 336sqm of warehousing and 126sqm of dual-floor offices with a seismic assessment of 67% of NBS, the Industrial Heavy-zoned property is occupied by an engineering firm which has a new three year lease to 2027 and 2x3yrRoR. (Benji Andrews, Nick O’Styke, Bayleys Christchurch)

40 Hammersmith Drive, Wigram, Christchurch: 1,892sqm industrial premises utilised as a trade store and hire depot with 24 car parks sold for $4,550,000 at a 4.99% yield. Built in 2008 by leading building company Calder Stewart, and occupied by Totalsite Supplies on a lease to 2029 plus 2x6yrRoR, the property comprises more than 1,450sqm of warehousing accompanied by a modern office and showroom with further offices over two floors within the warehouse. The 3,390sqm Industrial Heavy-zoned site is amongst a cluster of local, national and international businesses in the Wigram industrial precinct and features a fully secure yard for container storage and vehicle manoeuvrability. (Nick O’Styke, Bayleys Christchurch)