Total Property Issue 7 2026 latest sales results

Strong sales across the Wellington region feature in Bayleys’ latest Total Property results, spanning tenanted investments and vacant commercial premises. Deals elsewhere include industrial land, hospitality assets and mixed-use properties, with buyers securing established income, owner-occupier options and development potential.

Northland

4 Colenso Street, Kamo, Whangārei: A 1,206sqm landholding in Light Industrial zone has sold with vacant possession at the asking price of $400,000 including GST, giving a land rate of $332/sqm. Comprising an existing building of 190sqm, the property sold on an ‘as-is, where-is’ basis and provides convenient access to Kamo Village, State Highway 1 and Whangārei’s CBD. (Nigel Ingham, Lee Edwards, Bayleys Commercial in the North)

Auckland

30 Tahi Road, Ostend, Waiheke Island: A commercial investment with a consented artesian water supply has sold for $1,730,000, reflecting a 9.02% yield. The 1,616sqm site supports a 348sqm two-level office/showroom and two commercial bores, with resource consent to extract up to 40 million litres of water annually. (Hayden Ringrose, Bayleys Waiheke Island)

3A Keith Place, Pukekohe: A vacant 5,060sqm landholding in the established Adams Drive industrial precinct has sold for $1,425,000 including GST at a land rate of $282/sqm. Zoned Business - Light Industrial, the site has nine-metre-wide access with a concrete driveway and offers scope for purpose-built business premises or future development. The location provides connections to Auckland and Waikato via State Highway 1. (Shane Snijder, Mike Hook, Bayleys South Auckland)

Waikato and Bay of Plenty

255 Fraser Street, Tauranga South: A standalone Burger King investment within the Fraser Cove Shopping Centre precinct has sold for $2,550,000, reflecting a 4.56% yield. The 657sqm site comprises a recently refurbished 219sqm restaurant with dine-in, takeaway and drive-through facilities. Leased to Antares Restaurant Group, the property’s initial lease term began in 2004, with renewal options to 2039. (Brendon Bradley, Lynn Bradley, Ryan Bradley, Bayleys Tauranga)

32 Market Place, Papamoa Beach: A dual-unit commercial property comprising 418sqm of warehousing and offices on a 936sqm site has sold for $1,420,000. The adjoining units occupy one title, each with a separate driveway and secure yard. One unit was sold with vacant possession, while the other is leased to a local building firm, providing holding income alongside scope for owner-occupation or further leasing. (Myles Addington, Christy Arundel, Bayleys Tauranga)

Lower North Island

575-579 Fergusson Drive, Upper Hutt: A fully leased mixed-use investment has sold for $800,000, reflecting a 10.61% yield. The property comprises 360sqm of floor area on a 540sqm site, with three commercial and two residential tenancies, including a convenience store, laundromat and takeaway outlet. Its main road position and established tenancy mix provide income from its range of occupiers. (Oliver Hourigan, Paul Cudby, Bayleys Wellington)

8-14 Evans Street and 25 Oates Street, Stokes Valley: The land and buildings occupied by The Hardware Bar and Restaurant have sold for $1,580,000, reflecting an 8.10% yield. The 700sqm corner site spans four freehold titles and comprises 480sqm of internal floor area plus a 159sqm garden bar. Tenant NDK Hospitality has renewed its lease for five years to 2031, plus 2x5yrRoR and annual CPI rent reviews. (Paul Cudby, Fraser Press, Liam Sherlock, Bayleys Wellington)

58 Victoria Street, Petone, Lower Hutt: A warehouse and office property comprising 380sqm plus a large forecourt has sold for $925,000 with a potential yield of 7.45% based on estimated net annual rental income. Held by the same owner since construction 54 years ago, the property has General Business zoning and a seismic rating of 70% of New Building Standard. An expiring lease provides scope for owner-occupation, with the central Petone location offering motorway access across Greater Wellington. (Oliver Hourigan, Paul Cudby, Bayleys Wellington)

Unit 10, 25 Centennial Highway, Ngauranga, Wellington: An industrial unit comprising 218sqm of warehousing with a small office and amenities has sold with vacant possession for $610,000. The property includes three allocated car parks and provides easy access to Wellington’s CBD, the Hutt Valley and Porirua, with scope to accommodate trade, storage, workshop or service-based businesses. (Liam Sherlock, Fraser Press, Bayleys Wellington)

21 Garrett Street, Te Aro, Wellington: A standalone commercial property comprising 80sqm across two levels on a 98sqm site has sold with vacant possession for $550,000. The architect-fitted premises include a kitchenette, bathroom, balcony and tandem parking for up to four vehicles. Located near Glover Park and Cuba Street, the property has a seismic assessment of 70% of NBS and a potential net yield of 6% on forecast net annual income of $33,000 plus GST. (Mark Walker, Fraser Press, Bayleys Wellington)

South Island

47 London Street, Lyttelton, Christchurch: A multi-tenanted, mixed-use character property built in 1910 has sold for $1,400,000, following its first offering in more than 20 years. The property comprises 200sqm of floor area on a 354sqm site with four tenancies, including a popular restaurant, a laundromat, an office tenant and a flat above. The prominent corner property sits within the Lyttelton Historic Area. (Levi Dwan, William Wallace, Bayleys Christchurch)