Auckland’s commercial property market continues to attract investor interest, despite an uneven economic recovery and uncertainty ahead of November’s general election.
John Urlich, Commercial Manager at Barfoot & Thompson, says investors remain selective, with location, rental income and the strength of tenant covenants continuing to influence purchasing decisions.
“There's still uncertainty in the market, but good commercial properties are attracting interest. Investors are looking closely at the fundamentals, particularly the security of income and potential for future growth.”
Industrial property remains a strong performer, with Auckland’s vacancy rate sitting at 3.4%. The office sector continues to adjust to changing occupier requirements, while retail conditions have shown improvement, with Auckland retail sales rising 5.5% over the past year.
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For investors considering their next move, Barfoot & Thompson’s latest Commercial Insite offers a great deal to look at. The final edition for 2026 features 43 properties, from Wellsford in the north to Tuakau in the south, with opportunities across a range of sectors and price points.
One of the standouts is 61–65 Pitt Street, a character commercial investment with a history dating back to the 1920s and a rather interesting future ahead of it.
Occupying a prominent 201m² freehold corner site on the Karangahape Road ridge, the two-storey Italianate building has approximately 20 metres of frontage to Pitt Street and Beresford Square, immediately beside the newly opened Karanga-a-Hape Station.
Marketed by Barfoot & Thompson Commercial brokers Cam Paterson and Adam Thompson, the property offers approximately 290m² of accommodation across two self-contained tenancies.
On the ground floor, the Lebanese Grocer occupies a character-filled space featuring native timber floors, a commercial kitchen and a cobblestone courtyard beneath a glass canopy.
The restaurant is fully leased, returning $67,000 + GST per annum, while upstairs, a vacant 115m² office with its own street entrance provides scope for additional rental income or owner occupation.
“Positions combining frontage to a public square with direct, high-foot-traffic station exposure are extremely scarce,” says Paterson. “With the City Rail Link now operational, this asset offers immediate holding income alongside significant rental growth and repositioning potential upstairs.”
The property is offered for sale by Deadline Private Treaty, closing 2pm Wednesday 11 November 2026.
Not far away, in the Victoria Quarter precinct, 19 Drake Street offers investors an established income stream within one of Auckland's historic commercial landmarks.
Located within the Western Stables of Victoria Park Market, 19 Drake Street is a 300.32m² character freehold unit including a 40.69m² exclusive covered deck, in a well-established city-fringe location close to the CBD, Wynyard Quarter and major transport links.
Marketed by Barfoot & Thompson Commercial broker Reese Barragar, the property is fully leased to global technology firm Partly Group Ltd on a four-year term, returning $170,000 net per annum.
The lease includes fixed annual rent increases of 3% and is supported by a $150,000 bank guarantee, providing investors with an attractive income proposition.
The unit also benefits from Business – City Centre zoning and a 70% NBS seismic rating. It is offered for sale by Deadline Sale, closing 2pm Wednesday 11 November 2026.
Across the harbour on the North Shore, 35 Woodside Avenue in Northcote offers investors a different proposition, with three tenancies providing multiple income streams from a single industrial property.
Occupying a 1,005m² freehold site zoned Business – Light Industry, the property features a standalone 705m² two-level building, which underwent seismic strengthening to 70% NBS in 2022.
Accommodation includes light-filled offices, a workshop, warehouse facilities and eight on-site car parks.
Together, the three tenancies generate a total net income of $162,400 per annum + GST.
Anchor tenant Communication Test Solutions has recently committed to a new five-year lease, complemented by a second long-term tenancy and a three-year vendor leaseback of the front office, returning $35,000 per annum + GST.
Marketed by Barfoot & Thompson Commercial brokers Rex Fowler and Craig Watson, the property is offered for sale by Deadline Private Treaty, closing 2pm Wednesday 18 November 2026.
“It’s a functional, well-maintained asset in a proven North Shore industrial pocket,” says Fowler. “With multiple income streams, fixed annual increases, and flexible space configurations, it offers exceptional holding strength for investors.”
- Supplied by Barfoot & Thompson
