As Barfoot & Thompson Commercial enters its 12th consecutive year of the First of the Year portfolio, there’s a sense of rhythm - and reassurance - in returning to familiar territory.
“At this time in 2025, we anticipated a reduction in interest rates by the third quarter - a prediction that proved accurate,” says John Urlich, General Manager of the company’s Commercial division. “The question now is whether the market will demonstrate the same level of predictability. Based on the property market’s cyclical nature, we believe it will.”
With that sentiment in mind, First 26 launches with two standout properties - both offered with vacant possession, both sitting at distinct ends of the commercial spectrum - and both primed for strategic, counter-cyclical investment.
In Grey Lynn, tucked between design studios and destination eateries, 4 Putiki Street stands out for all the right reasons. A rare warehouse conversion spanning three light-filled, architecturally designed levels and a total footprint of approximately 570m² (including decks), this award-winning building fuses glass, steel and concrete into a strikingly versatile mixed-use asset.
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“It’s hard to overstate how well this place works,” says Reese Barragar of Barfoot & Thompson Commercial, who is marketing the property. “You’ve got dramatic design, seamless flow and the kind of flexibility that lets you grow with it.”
Zoned Business – Mixed Use, the property suits a wide range of occupiers - from creative outfits and commercial offices to showroom-retail hybrids or high-end residential conversions. Generous onsite parking for 4–6 cars adds everyday practicality, while expansive decks on multiple levels offer breakout zones and entertaining space.
“It’s a trophy holding in a blue-chip neighbourhood,” says Barragar. “You’re steps from Ponsonby Road, surrounded by great operators and backed by a zone that supports future upside.”
Offered with vacant possession, the property is for sale by Deadline Private Treaty, closing 2pm, 19 February 2026, unless sold prior.
Across the bridge in Takapuna, another stand out property - 458 Lake Road - offers a rare combination of profile, potential and immediate opportunity. Positioned on one of the North Shore’s most prominent thoroughfares, the 165m² (more or less) building sits on a 238m² freehold site and is now being offered to the market for the first time in over 21 years.
“It’s got all the fundamentals,” says Barfoot & Thompson Commercial salesperson Nick Brown, who is marketing the property alongside colleague Max Andrews. “High visibility, constant foot traffic and zoning that allows for future options. But what makes this one stand out is the access point - this is entry-level investment with real holding power.”
Surrounded by a mix of food and service retailers, the site benefits from steady seven-day customer flow and convenient on-street parking. Rental levels in this part of Takapuna have traditionally tracked lower than those in the nearby Hurstmere Road catchment, making this location more accessible for operators - and appealing to landlords with an eye on upside.
Sold with vacant possession, the property includes a suite of valuable chattels and fixtures, making it immediately lettable or ready for a new owner-occupier to move in. With Business – Metropolitan Centre zoning in place, longer-term potential is also baked in.
“You could lease it, occupy it, landbank it or reconfigure down the track,” says Andrews. “There’s enough flexibility here to suit a wide range of buyer types - but being fee simple in Takapuna, you’re unlikely to see it sit long.”
The property is being marketed for sale by Deadline Private Treaty, closing 4pm, 18 February 2026, unless sold prior.
The full portfolio is available by emailing [email protected]
- Supplied by Barfoot & Thompson
