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Press Release – Bayleys Realty Group Five investment offerings selling at yields of under or close to four per cent and three development site sales were features of Bayleys’ latest commercial and industrial auctions. Ten out of 11 Auckland properties showcased in Bayleys second Total Property portfolio for the year sold under the hammer. The highest price achieved was $5,810,000 for a property in Oneroa Village, Waiheke Island. Located on a 1480 sq m site at 116 Ocean View Rd with a 441 sq m building, its largest tenant is Work and Income New Zealand with three street front retail tenants. There is a substantial amount of undeveloped land at the rear of the building that links to a rear service lane and provides 16 car parks. ....
Press Release – Bayleys Realty Group 14 Northside Drive render. Construction is underway on a new 19-unit industrial/business park development in northwest Auckland’s prime hotspot, as demand for industrial property in the region continues to surge on the back of strong returns and what one agent calls a “chronic” lack of available stock. The units at 14 Northside Drive, within the rapidly-evolving Westgate hub, are directly opposite one of the country’s biggest Mitre 10 Mega stores, close to the new Costco megastore and Costco Fuel which will open next year, and within the wider precinct that will also soon house Microsoft’s planned $100 million-plus cloud computing data centre. ....