Commercial Market Update – Auckland Cityscope
The latest research from Auckland Cityscope shows that property sales have decreased over the past three months. In the three months to February 2017, there were 34 sales for a total of $146.6 million, as compared with 58 sales for a total of $202.7 million recorded for the three months to November 2016, and with the 35 sales at a total of $239.8 million recorded for the three months to August 2016. The latest data brings the total sales for the 12 months to $696.7 million, a decrease from the $1.061 billion in sales recorded to the same time last year.
The table below shows sales recorded for the past eight updates of Auckland Cityscope:
Notable sales in February 2017 update of Auckland Cityscope include:
- Leasehold of The Old Customhouse at 22 Customs Street West, Auckland Central, a historic three-storey plus basement French Renaissance style building designed by Thomas Mahoney for government use and built 1887-1889, which was sold for $33.5 million;
- The Telco Building, at 16 Kingston Street, Auckland Central, a 19-level office building including two basement floors with 40 car spaces, providing a gross floor area of 10,960 sqm, which was sold for $31.75 million; and
- Wellesley Centre, at 44 Wellesley Street West, Auckland Central, a 12-storey building with retail shops on the ground level, nine office levels and two levels of parking for 40 cars, providing a gross floor area of 5,230 sqm, which was sold for $10.6 million.
Properties listed as for sale in the February 2017 of Auckland Cityscope include:
- Units 4A, 5A, 6 and 7 in Victoria Park Market at 210 Victoria Street West, Auckland Central, four shops on ground level in the one to three-storey retail and office complex, with a total area of approximately 207 sqm, are for sale by auction on 7 March 2017 through Colliers International NZ;
- Unit 73, a 436 sqm two-storey retail suite, Unit 74, a 204 sqm retail suite on level two and Unit 75, a 303 sqn retail suite on level two in the same complex at 210 Victoria Street West, are for auction separately on 7 March 2017 through Colliers International NZ; and
- 10 South Street, Newton, an older single-storey building with four car spaces on a site of 357 sqm, is for sale through Bayleys Auckland Central.
Leasing opportunities in the February 2017 update of Auckland Cityscope include:
- 125 Queen Street, Auckland Central, a 30-level office building with a 3-storey podium known as the Tower Shopping Centre, which has office space ranging from 700 sqm to 17,000 sqm available through Bayleys Auckland Central;
- 500 Queen Street, Auckland Central, a six-storey building with ground floor retail and offices above, which has office space of 2,600 sqm available through Bayleys Auckland Central; and
- 48 Greys Avenue, Auckland Central, a seven-storey building plus two basement levels for 48 car spaces, which has office space ranging from 900 sqm to 1,800 sqm available through Barfoot & Thompson City Commercial.
Commercial Research
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope.
Subscribe to the free Commercial Pulse eNewsletter
Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe
