Investor demand for Auckland industrial property is asset specific

Fri, 22 Jan 2021

Industrial property yields in Auckland have fallen, but not as dramatically as a pre-Christmas sale by real estate agency Bayleys might suggest.That sale of a Wiri property, which sold for $18.55 million at a 3.86 percent yield to one of 16 bidders, eight of whom made unconditional offers, was clinched after just three weeks on the market. That suggested red-hot demand as the lower a property's yield, the higher the price.But property consultancy Jones Lang LaSalle estimates more normal yields for Auckland industrial property currently at 4...

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