Sold under the hummer to a local investor for $2,000,000 43 George Street, Huntly, Waikato

The Property • 650sqm industrial building on high profile 2,461sqm corner site • Good mix of warehousing/workshop, office space, showroom plus storage mezzanines • Large drive-around yard • Dual entry points with direct access to SH1 • Sold with vacant possession

Quick Look • Interest generated via Bayleys’ databases, Total Property magazine, digital platforms • Enquiry from mainly local investors and owner-occupiers • Multiple bidders on auction day • SOLD under the hammer for $2,000,000 • Purchased by a local investor

The Story With the Waikato Expressway connecting it to Hamilton 32 kilometres to the south and Auckland just over an hour away, the small town of Huntly is now on commercial and industrial property investor radars.

There is minimal industrial property vacancy within the broader Golden Triangle economic zone and it is rare for buildings in Huntly to make it onto the open market.

Given the shortage of property opportunities available in the town, Alex and Luke ten Hove, Bayleys Waikato took 43 George Drive, Huntly to auction believing that exposing it via the broad-reaching Total Property portfolio would bring out-of-town investors out of the woodwork.

And they were right. Enquiry came from around the North Island, mainly from Auckland and Hamilton, and the successful bidder on auction day was an established Bayleys’ client from the Waikato.

“The well-constructed buildings and large yard on a prime corner site close to State Highway 1 had all the hallmarks of a classic investment and while there was no formal lease in place at the time of sale, it would suit a number of industrial users,” said Alex.

“Bidders on auction day were given the option of potentially negotiating a new lease with the passing tenant, or buying it vacant, and it ultimately sold with vacant possession.

“It’s a great site and with Huntly identified as a growth area, there will be no end of options for it.”

Just 8km north of the site is the large-scale $1.2 billion Sleepyhead manufacturing and housing project which promises to bring significant people and dollars into the North Waikato economy.

Vendor Comment Vendor Bryce Harvey said Bayleys’ transparency and “extra mile” service philosophy cemented his decision to sell the Huntly property.

Long-time owner of the property Bryce Harvey said having decided the time was right to sell, Bayleys was his agency of choice.

“I like Bayleys as they are very honest and upfront in all their real estate dealings, they have a no pressure approach and go the extra mile for their clients.”

Bryce said throughout the auction marketing campaign Alex and Luke kept him well-informed.

“The whole campaign was very well planned and the process for me as the vendor, was very simple.

“On auction day, the Bayleys team negotiated well with the bidders to achieve a deal that suited all parties and I was happy with the sale price.”