In the Media

A mixed use property comprising three buildings on a high profile corner site in Epsom’s Greenwoods Corner commercial strip is for sale presenting a number of opportunities to the next owner.

Bayleys Auckland’s City & Fringe team has sold in excess of $75 million of city fringe Mixed Use properties between Mt Eden and Grey Lynn over the past six months

A property which houses an exclusive boutique “hideaway” hotel favoured by A-list celebrities such as Rachel Hunter, Sean Connery, Jay-Z and Beyonce is for sale.

A landmark Herne Bay property is for sale that was built as the home of Auckland's first mayor, then served as a convent for the Little Sisters of the Poor and conversely, has been operated more recently as Mollies luxury boutique hotel, a "hideaway retreat" patronised by visiting celebrities.

A fully leased, modern Auckland city fringe commercial building earning net annual rental income of about $630,000 from two tenancies and located on a large Mixed Use zoned corner site in Eden Terrace is up for sale for the first time since it was built 17 years ago.

The four level building with a net lettable area of 2651 sq m and 52 on-site car parks on a 1541 sq m freehold site at 26-32 Virginia Ave East, is featured in Bayleys' latest Greater Auckland portfolio and is being marketed by Alan Haydock of Bayleys Auckland for sale by tender closing on July 2 unless it sells earlier by private treaty.

A partly tenanted building on a 1027 sq m Epsom site, with a double grammar Mixed Use zoning, is for sale offering the next owner a range of future options to add value to the property.

The site and its 791 sq m office building at 101 Great South Road, Epsom, is included among close to 40 properties for sale within Bayleys' latest Greater Auckland portfolio and is being marketed by Scott Kirk and Alan Haydock of Bayleys Auckland

Two industrial buildings on 1489 sq m of land zoned Mixed Use in Mt Eden are for sale that will give a new owner a significant initial cash flow from a new lease to one tenant in place over the entire premises.

The freehold site at 3-7 and 9 Tawari St also has longer term development options, says James Were of Bayleys Auckland who, with colleague Scott Kirk, 

Major changes to how quickly earthquake-prone buildings will need to be assessed and strengthened have been announced.

A Meadowbank character building on a busy arterial road with a mix of retail, office and residential space is for sale after three generations of family ownership. The 493m² building on a 444m² site, in two equal titles, at 14 and 16-18 St Johns Rd is up for sale by tender as part of Bayleys' latest Total Property portfolio closing May 19, unless it sells earlier by negotiation.

A fully leased city fringe building occupied by Auckland District Health Board (ADHB) as one of several longstanding tenants on a high profile Khyber Pass Rd corner site is for sale offering a new owner annual rental cash flow of about $676,000.  This four-level,  2287m² building is up for tender, closing April 16, unless sold prior, through Kate Kirby and Cameron Melhuish of Bayleys, Auckland. It is one of the larger properties contained in Bayleys’ latest commercial and industrial Total Property portfolio.

A large Auckland CBD fringe property in Exmouth Street, Eden Terrace, owned and occupied by Air New Zealand for the past 38 years, is up for sale offering a new owner a variety of future refurbishment or redevelopment options.

Located on a 2198m² site at 10-12 Exmouth St, the four-level 3852m²  office building is offered for sale with vacant possession by Alan Haydock and Cameron Melhuish of Bayleys Real Estate.

The smallest property for sale at Bayley's first Greater Auckland auction of the year fetched the highest sale price of $3,230,000.

The property was one of many across all sectors of the commercial and industrial market that generated strong bidding competition at the auction with 19 properties selling for in excess of $18.3 million.

Twenty nine commercial properties went under the hammer at Bayleys Greater Auckland Commercial Auction this week, with 17 of them selling on the day.

A mix of retail, office, light industrial and development properties were offered and the net yields achieved ranged form 4.95% to 9.58%, although most were in the 7% to 7.5% range.

A flurry of sales in central Auckland totalling close to $45 million and encompassing both freehold and leasehold properties have been concluded recently by Bayleys Real Estate.

Alan Haydock, Bayleys' Auckland City & Fringe team leader who was involved in many of the sales, says there has been a noticeable pick up in the volume of small to medium sized CBD sales since the latter part of last year.

Investors seeking global diversification for their property portfolios are increasingly seeing New Zealand as an attractive investment option. 

Although our commercial and industrial property market is too small to attract the interest of giant global real estate investment trusts (REITs), our manageable size is regarded as an advantage by other offshore investors, and particularly those based in Southeast Asia, says Bayleys Real Estate’s international commercial and industrial director Chris Bayley. 

The demand for limited retail space on Queen St is allowing some landlords to charge higher rents.

Pushing higher rents is the lift in retailing sentiment in the wake of the luxury international retailers Christian Dior and Prada setting up shop at the waterfront end of Queen St.

Horse & Trap Mt Eden

An 889 sq m three level, century-old character building occupied by the Horse & Trap bar and restaurant at 3 Enfield St, Mt Eden has sold for $2.8 million at an 8.5 per cent yield through Alan Haydock of Bayleys Auckland. The 1626 sq m Mixed Use zoned site in three titles has a sealed car park area has development potential.

The amount of empty office accommodation within Auckland's CBD has fallen for the fifth consecutive year, reflecting the city's strong economic performance.

The latest Bayleys Research CBD office survey has found 

One of the last remaining industrial properties in Sale St in the Victoria Quarter precinct of the Auckland CBD is for sale.

Occupying a 749sq m freehold site at 52 Sale St the property encompasses a vacant 656sq m warehouse and office building.

A building occupied by one of Viaduct Harbour’s longest established taverns, O’ Hagans Irish Pub, and an office floor tenanted by a boutique law firm are two investment properties in Auckland’s popular Viaduct precinct which feature in Bayleys’ latest Total Property portfolio.

An average house in need of a full renovation in the Auckland suburb of Avondale has sold for more than double the price paid for it seven years ago.

Yesterday, the property which was sold in 2007 for $410,000 went under the hammer at $870,000.

An old dunga of a house in the Auckland suburb of Avondale sold under the hammer for $870,000 at auction today.

Both inside and out, the house at 15 Elm St was pretty rough. It would have needed a full renovation to bring it up to what most people would have regarded as an acceptable standard, which would easily have pushed the price past the $1 million mark once the work was complete.