Strong prices, low yields evident in latest commercial property sales by Bayleys and Colliers

Prices were very firm at this week’s auction of commercial properties held at Bayley’s Viaduct Harbour auction room, and many of the new owners that purchased properties will be receiving net yields below 5% on their latest acquisitions.

Highlights included a retail unit on Universal Drive in Henderson that was leased to the BNZ, which went for $3.02 million, providing its new owner with net yield of 4.37%.

Colliers also reported some recent commercial property sales this week, which included a vacant 6425 square metre, industrial development site at Hobsonville, which sold for $2.73 million.

[Source:- Interest]