Total Property Issue 5 2026 latest sales results

Bayleys’ latest Total Property auction results showed buyers targeting practical assets with clear income, occupation and re-leasing strategies. Passive investments were sold alongside part-vacant and owner-occupied properties where flexible accommodation, access and location provide a clear path to future value.

Auckland

9 Matipo Street, Mount Eden: A character residential investment comprising three flats has sold for $1,825,000 incl. GST, returning $97,240 gross pa. The circa-1910 property provides 180sqm of floor area on a 625sqm site and is configured as one two bedroom and two one bedroom flats. The sale offered the purchaser diversified rental income with longer-term potential for home and income or intergenerational living. (Damien Bullick, Phil Haydock, Bayleys Metro Markets)

10 Rennie Drive, Mangere: A split-risk industrial investment in Auckland’s airport precinct has sold for $3,600,000, reflecting a net yield of 5.75%. Occupying a 1,656sqm Business – Light Industry zoned site, two adjoining units totalling 1,009sqm comprise well-presented offices and clear-span warehouse accommodation supported by off-street parking and yard space. (Ash Martinus, Greg Hall, James Valintine, Bayleys South Auckland)

9 Crosbie Road, Pukekohe: A multi-tenanted industrial property on a 1,366sqm site in central Pukekohe has sold for $2,000,000, with a potential net yield of more than 5.50% when fully leased. Two units totalling 780sqm are leased by two retailers; Counties Marine occupies 400sqm of ground-floor space, a 50sqm mezzanine and 431sqm yard, while Animal Stuff’s departure in July provides vacant possession of a 269sqm unit with 62sqm of mezzanine space. The sale offered immediate rental income alongside the flexibility for the purchaser to occupy or re-lease the available unit. (Mike Hook, Shane Snijder, Bayleys South Auckland)

Lower North Island

19C Milne Drive, Paraparaumu: A tenanted commercial unit in an established Kapiti Coast business precinct has sold for $437,000, reflecting a net yield of 7.49%. Leased to a community health provider, the modern 120sqm premises form part of a well-maintained five-unit complex with an allocated rear parking area. The sale provided immediate cash flow from an established tenant at an accessible entry point for investors. (Simon Butler, Johnny Curtis, Bayleys Wellington)

29-33 Bridge Street, Melling, Lower Hutt: A multi-unit industrial property comprising partially occupied showroom and warehouse accommodation has sold for $1,700,000 with a potential net rental of circa $157,713 pa once fully tenanted. The property provides 394sqm of leased space with a further 376sqm and circa 300sqm of yard available for occupation. Originally developed in the 1980s and subsequently divided into three units with a separate yard tenancy, the sale combined existing income with flexibility for the purchaser to establish their own premises or capture value by reletting vacant space. (Oliver Hourigan, Paul Cudby, Bayleys Wellington)