Heading towards the end of 2024, a renewed sense of optimism is settling across Auckland's commercial property market, according to Barfoot & Thompson.
August’s interest rate drop has sparked a positive shift in sentiment, with predictions of the Official Cash Rate falling below 4 per cent by late 2025 adding further confidence.
“While there’s often a lag between market optimism and action, heightened inquiry from both investors and tenants signals an uplift in transaction volumes on the horizon,” says Barfoot & Thompson’s commercial manager, John Urlich.
Noting the opportunities emerging for both investors and owner-occupiers, he says, “We’re seeing increased engagement, and with interest rates set to ease further, commercial property is poised to become an attractive investment again.”
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Urlich also highlights the evolving office leasing landscape, where pro-active consolidation and modernisation are taking centre stage alongside the resilience of key industrial and retail sectors.
Though challenges remain, the stage is set for well-timed moves in 2025, with Barfoot & Thompson's expertise ready to guide investors through the opportunities ahead, he says.
Perfect timing, then, for the release of the company’s latest Insite Portfolio.
It features around 40 commercial properties across the wider Auckland region, including one for tender, two for auction, five for sale by deadline private treaty, and 23 for sale by negotiation.
Among the highlights is a retail investment at 327-329 Albany Highway on Auckland’s North Shore.
This is a freehold property that spans 4385sq m of land and generates an impressive net annual income of around $739,227, thanks to 12 high-quality tenancies.
Marketed by Barfoot & Thompson commercial brokers Bruce Jiao, Gary Seekup and Paul Vermaak, the property offers a net lettable area of 1340sq m.
“The location’s blend of residential, educational and commercial hubs makes it a magnet for tenants, ensuring solid long-term returns for investors. Further, Albany Highway provides easy access to key institutions like Kristin School, Massey University and North Harbour Stadium, while the high flow of pedestrian and vehicle traffic enhances its appeal as a retail destination,” Jiao says.
Offered for sale by deadline private treaty closing 4pm, Thursday November 14, unless sold prior, this prime retail strip is ideally positioned to capitalise on the region’s ongoing growth and development.
In Auckland’s CBD, another exceptional opportunity presents itself with the sale of Level 12 at 175 Queen St.
Covering 228sq m, this freehold space offers stunning water views, an open-plan layout, five partitioned offices, two meeting rooms and a well-appointed kitchen lounge.
“This is an exceptional opportunity to secure a full floor on vibrant Queen St,” says Barfoot & Thompson commercial salesperson Melissa He.
“It’s a rare find in the city, particularly with such a well-presented layout and exceptional investment potential.”
The property’s location places it just a short walk from Britomart, the Viaduct and the soon-to-be-finished Te Waihorotiu and Waitematā City Rail Link stations, making it a highly attractive option for city-based businesses.
On-site parking for two cars and an additional space at Wilson Parking add further convenience.
Level 12/175 Queen St is for sale by deadline private treaty closing 4pm, Thursday November 14, unless sold prior.
Rounding out this portfolio is 3C Edinburgh St, Onehunga, a freehold industrial property drawing interest from add-value investors and owner-occupiers.
Built in the 1960s and comprising 1333sq m of net lettable area, this site offers significant operational flexibility.
Features include container drop-off facilities, multiple roller doors, a gantry crane and an office space, making the property ideal for a wide range of industrial users.
Barfoot & Thompson’s industrial sales and leasing experts Nick Wilson and James Marshall, who are marketing the property, emphasise the site’s powerhouse location.
“Onehunga has long been regarded as a prime spot for industrial activity, and this property’s set-up caters perfectly to businesses looking for accessibility and efficiency,” says Wilson.
The property is well-connected to both SH1 and SH20 and is zoned for Business—Heavy Industry. It is offered for sale by deadline private
treaty closing noon, Wednesday October 30, unless sold prior.
— Supplied by Barfoot & Thompson
