Total Property Issue 8 2025 auction results

Bayleys’ latest Total Property auction results underscore solid, nationwide buyer depth across industrial, retail and development assets, with strong participation from both investors and owner-occupiers. Activity spanned Auckland and provincial growth centres, reflecting ongoing demand for split-risk industrial holdings and high-profile retail.

AUCKLAND

51-53 Elizabeth Knox Place, St Johns: Two separately titled industrial units totalling 621sqm have sold together for $1,820,000, representing a 4.56% yield. Offered to the market for the first time in 40 years, the premises are occupied by two tenants – a local gymnasium and commercial maintenance business - providing an opportunity to unlock growth through an upcoming market review in early 2026. (Matt Dell, James Valintine, Bayleys South Auckland)

WAIKATO/BAY OF PLENTY

437 Port Road, Whangamatā: An 86sqm retail premises on a 174sqm site has sold for $559,000, representing a 4.46% yield. The occupant – an established footwear retailer – has recently exercised its second lease term for two years with 1x2yrRoR remaining. Positioned in the heart of Whangamatā’s retail and hospitality strip, the property’s strong street presence, steady year-round foot traffic and secure lease profile drew competitive interest at auction. (Gordon McGregor, Blair Williams, Dale Sholson, Bayleys Whangamatā)

1 Croad Place, Tokoroa: An industrial premises of 696sqm on a 4,239sqm dual-access site has sold with vacant possession for $960,000. The property is improved by high-stud warehousing and an expansive sealed yard, drawing interest at auction for its scale, versatility and freight-efficient location at the northern gateway to Tokoroa, in addition to proximity to State Highway 1. (Ryan Bradley, Brendon Bradley, Bayleys Tauranga; Duncan Hancock, Bayleys Hamilton)

LOWER NORTH ISLAND

1 Parkside Road, Seaview, Lower Hutt: An industrial property comprising 362sqm plus four car parks on a 354sqm site has sold for $651,000, representing a 4.82% yield. An auto-service tenant currently occupies the property on a lease expiring in July 2026, providing both near-term income and a clear pathway to future occupation. It is improved by a functional workshop with office accommodation, staff amenities and a position in a popular business precinct. (Oliver Hourigan, Ethan Hourigan, Bayleys Wellington)