Published 2 May 2019, updated 24 May 2019:
2 light industrial properties were passed in at Barfoot & Thompson Commercial auctions on 30 April & 2 May, at land prices illustrating how acute the supply of industrial land around Auckland has become.
Size, dimensions, location & access to arterial routes all bear strongly on the differentiation in price from one site to another.
But Barfoot & Thompson Commercial agent James Marshall, involved in the auction of a Kerwyn Avenue property in East Tamaki on Tuesday, said the $903/m² offered for it was well above other recent offers. 3 weeks later, it’s been sold at $915/m².
He compared it to the top bid of $553/m² at the auction today of an Aetna Place site, in a Henderson industrial precinct, which in turn was well above the price paid for a site across the street 2 years ago.
That 2017 sale of the 3812m² Total Plastics property at 12 Aetna Place was for $1.3 million, at $341/m². The company’s factory was destroyed by fire in September 2016.
Today’s Aetna Place auction opened at $395/m² and rose quickly to $553/m².
19 Aetna Place:
Features: 1012m² site zoned light industry, furnished with 2 27m² temporary cabins, 3 20ft containers, security cameras & electric fencing, offered vacant
Outcome: passed in at $560,000, at $553/m²
Agents: Chris Peterson & Mike Jensen
Updated: 87 Kerwyn Avenue:
Features: 2021m² level industrial yard, 94m² office structure, offered vacant, 2 access points off Kerwyn Avenue
Outcome: passed in at $1.825 million, at $903/m²; sold 23 May for $1.85 million at $915/m²
Agents: James Marshall, Nick Wilson & Katie Wu