The property

• Highly functional 642sqm standalone high-stud industrial building on freehold 811sqm site
• Excellent warehouse/office ratio with ample onsite parking
• Property has capacity to drop 40ft containers in the front yard
• Marketed with vacant possession

Quick look

• National Total Property marketing campaign, for sale by deadline private treaty
• Multiple digital platforms used for promotion, and the property was exposed to as many database clients as possible
• An unconditional offer was presented and negotiated within three days of the listing going live
• Sold unconditionally for $2,525,000
• Purchased by an owner-occupier in the industrial flooring business

The story

Matt Dell and William Gubb of Bayleys South Auckland were quietly confident that this well-positioned warehousing property would resonate with the owner-occupier market despite more subdued activity in the market more generally.

After competing for the business against other agencies, the pair primed the property to appear in Bayleys flagship Total Property portfolio, which launched on a Friday.

By the following Monday, the property was sold to an owner-occupier who had been searching for a suitable property for some time, and had been pipped at the post on several occasions.

“The successful buyer was one of the first parties we took through the property, and he presented us with a compelling unconditional offer virtually on the spot,” says Matt.

“Having missed out on other properties, he knew the market and understood the level an early offer needed to be at to secure a deal.”

The price achieved was in line with current market conditions, and sat at the middle of the value assessment range identified ahead of the campaign.

“This was a really good result and one that allowed both parties to the sale to move ahead with their respective business plans.”

Vendor comment

Glen Gordon, director of MG Distributors, says time was of the essence in selling the property and Bayleys delivered.

With a business opportunity opening up in Australia, Glen says the decision was made to sell the company premises and move its existing distribution operation to a 3PL provider.

“While aware the property market was not that buoyant, we believed our building was a great opportunity for the right person, and wanted to move quickly to avoid delaying until mid-2025.

“We were impressed at how organised Matt and William were in a short time frame. They understood the local market, the opportunity this building presented, and how best to present the building.

“Being featured in Total Property was also an advantage of listing with Bayleys.”

Because the property immediately attracted attention and enquiry, the deal was done while Glen was out of the country. He says Matt and William communicated clearly and quickly and were available outside of usual working hours to offset the time zone difference.

“It was very surprising to get a strong and clean offer on day one, and even better to have the deal completed just a few days later. A great result, and we were pleased we listed with Bayleys."