Beating the long-term average

The transaction volume was across 141 sales of properties worth $5 million plus, CBRE’s latest Transaction Monitor reveals. 

The biggest sale was a development site at 121-135 Beaumont Street in Auckland’s Wynyard Quarter, which will be developed into a mixed use commercial and residential project.

During the second half of last year, the industrial market was the strongest performer, with 72 sales totalling $969.5 million or 38% of the total sales volume.

In Auckland, two properties at Hugo Johnston Drive in Penrose were the biggest transactions. Goodman bought 35 Hugo Johnston Drive for $60.5 million. This was followed by 121 Hugo Johnston Drive selling for $57 million and 21 Hobill Avenue, Wiri for $42.1 million.