Bayleys held their first auction since the Covid-19 lockdown. Whilst the properties offered to the market were mainly located within the greater Waikato the results show little movement in capitalisation rates.
This is confirmed by the auction that was held the week prior by NAI Harcourts. A summary of result are as follows:
12 Newton Place - A basic workshop with large land component leased to Sayer Drainage on a 4 year sale and leaseback arrangement sold for $1,317,000 at a 5.47%.
127 Tasman Road - A land sale which sold for $1,040,000 at a rate of $328.91/sqm
128-130 Maniapoto Street, Otorohanga - Sold for $658,000 at a 7.02% cap rate