Total Property Issue 7 2025 auction results

Bayleys’ latest total property auction results reflect broad-based buyer engagement, with activity across mixed-use, industrial and development assets. Competitive bidding was recorded from auckland to the south island, supported by tight industrial supply, demand for well-located commercial sites and improving confidence in growth-corridor land opportunities.

AUCKLAND

126 Lake Road, Belmont: A dual-level mixed-use premises occupying a 223sqm corner site with water views across the Rangitoto Channel, has sold under the hammer at auction for $895,000. The 200sqm building provides holding income from two ground-floor commercial tenancies and an established residential occupant above. Buyers were drawn to the property’s clear add-value potential, which underpinned strong interest throughout the campaign. (Ranjan Unka, Bayleys North Shore; Ben Clare, Bayleys Commercial in the North)

WAIKATO/BAY OF PLENTY

293 Rotokauri Road, Baverstock, Hamilton: A 2.023ha residential development site in the Rotokauri growth precinct, has sold for $2,800,000. Released to the market for the first time in nearly a century, the elevated landholding’s scale, dual frontage and position within Hamilton’s northwestern expansion corridor drew competitive bidding. Surrounded by new housing and supported by favourable density policy, the purchaser was attracted to the property’s subdivision potential and long-term development upside in one of the Golden Triangle’s fastest-growing residential markets. (David Cashmore, Aaron Paterson, Bayleys Hamilton)

590 Cameron Road, Tauranga Central: An 889sqm mixed-use site at the corner of Twelfth Avenue – a core transport corridor that runs the length of the city - has sold with vacant possession to a local owner-occupier for $2,300,000. The single-level building spanning 405sqm offered immediate leasing potential, rear car parking, and flexible options for refurbishment, repurposing or full redevelopment, with zoning heights enabling up to 27m of vertical development. (Lynn Bradley, Ryan Bradley, Brendon Bradley, Rory Brown, Bayleys Tauranga)

LOWER NORTH ISLAND

122 Hutt Road, Petone, Wellington: A 376sqm industrial unit with six car parks has sold for $810,000, representing an 8.29% yield and building rate of $2,156/sqm. Comprising a warehouse, office and showroom with a seismic assessment of 70% of NBS occupied by a trades-based business with a lease expiring in March 2026. The property had recently received a new roof and roller door, attracting interest from owner-occupiers and add-value investors seeking profile and proximity to State Highway 1, 2 and the Petone Rail Station. (Paul Cudby, Oliver Hourigan, Bayleys Wellington)

SOUTH ISLAND

131 West Coast Road, Arthur’s Pass National Park, Canterbury: A 1,618sqm site at the centre of Arthur’s Pass Village has sold with vacant possession to an add-value investor for $250,000. Formerly operating as ‘The Chalet’, the closed 800sqm lodge was offered on an ‘as-is, where-is’ basis, and drew interest from adventurous buyers seeking a foothold in one of New Zealand’s most dramatic national park settings. Comprising 800sqm of accommodation, including 15 rooms and shared facilities proximate to key hiking trails and the TranzAlpine train route, the property represented a rare opportunity, with long-term investment potential. (Kate Mullins, Ben Deans, Bayleys Christchurch)

5 Lakeside Place, Harwood, Christchurch: A modern 2,250sqm industrial facility on a 4,242sqm site has sold for $6,450,000, representing a 5.49% yield. Fully leased to multi-national health and disability supplier Cubro, with an initial term to 2029 and potential occupancy through to 2044, the property appealed to investors seeking long-term income security. Built to a 100% NBS rating and positioned minutes from the Christchurch International Airport, the property’s quality construction, efficient layout, and significant landholding drove strong auction participation. (Nick O’Styke, Bayleys Christchurch; Greg Hall, Scott Campbell)

3 Edison Place, Bromley, Christchurch: A 953sqm corner site with exposure to State Highway 74, has sold to an owner-occupier for $1,225,000. The versatile industrial accommodation totalling 726sqm features a balance of warehouse, showroom and office space, supported by on-site car parking. Sold with vacant possession and earthquake strengthening to 67% of NBS completed prior to settlement, the property attracted interest for its functionality in a tightly held eastern precinct. (Sam Stone, Julian Sinke, Bayleys Christchurch)

12 Radius Loop, Rolleston, Christchurch: A 1,342sqm near-new industrial facility in the IZone Business Park has sold for $3,245,000. Comprising an efficient office-to-warehouse ratio supported by dual access on a 2,047sqm site with full security fencing and 20 car parks. The property is occupied by New Zealand animal nutrition business Nutritech International with a long-term lease. Strong transport connectivity and the scarcity of quality industrial premises in Rolleston‘s premier business precinct were key drivers of buyer interest during the campaign. (Sam Stone, Nick O’Styke, Bayleys Christchurch)