Colliers has reported the sale of 4 central city and Albany commercial investment properties, 3 at sub-5% yields, showing Auckland yields are falling fast.
While you were falling asleep, yields were falling like a stone!
While it’s true that yields are falling fast, our team is still regularly finding 6% yield deals.
Talk to us about our property finding service for direct investors, or Provincia property fund for those wanting a slightly more hands-off investment.
Princes Court, 2 Princes St, Auckland CBD
- Features: 2,804m2 floor area 4-level office building on 1,121m2 site. Known as Princes Court, and located in the heart of Auckland’s legal precinct, it has 21 professional tenants including several legal chambers, an accountancy firm, an architectural practice, a research company and a number of trusts. The basement is tenanted by a boxing gym. 22 tenants in total and 29 parking spaces.
- Rent: $670,200 net p.a.
- Outcome: Sold for $15,037,000
- Yield: 4.46%
Queen’s Ferry Hotel, 12 Vulcan Lane, Auckland CBD
- Features: 295m2 heritage-listed building on 118m2 site. Fully leased, freehold character property in the heart of the CBD. Operated as a pub by a longstanding hospitality operator, which leases the entire 3-level building plus basement. Lease renewal in September 2020.
- Rent: $209,855 net p.a.
- Outcome: Sold for $4.4 million
- Yield: 4.77%
Units 6 & 7, 25 Airborne Rd, Rosedale, Auckland
- Features: Neighbouring industrial units on separate titles in the North Harbour business precinct. Unit 6 comprises 360m² net lettable area plus 5 car parks. Unit 7 comprises 320m² net lettable area plus 5 car parks. Fully leased with over 5 years remaining on each lease.
- Rent: Unit 6 $55,200 net p.a. ($153/m2). Unit 7 $43,600 net p.a. ($136/m2). Total $98,800 ($145/m2).
- Outcome: Sold for $2.03 million
- Yield: 4.87%
Unit A2, 59 Apollo Drive, Rosedale, Auckland
- Features: 145m2 commercial unit with 4 parking spaces. The tenant has occupied the space since new (2007) and re-signed for another 3-year term under ‘Lumino The Dentists’ brand in January 2019.
- Rent: $55,500 net p.a.
- Outcome: Sold for $1.06 million
- Yield: 5.24%