Investor demand for Auckland industrial property is asset specific

Investor demand for Auckland industrial property is asset specific
Jenny Ruth
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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