Anticipating heightened interest and growth in the South Auckland industrial market off the back of more encouraging economic indicators, Bayleys has made a strategic appointment to boost its capacity and client offering in that area.

Industry high-achiever Paul Steele has joined Bayleys South Auckland as a director in its East Tamaki-based commercial and industrial team, focusing on leasing and sales in the mid-upper end of the industrial market.

Steele brings more than 20 years of experience in commercial real estate to Bayleys. With a degree in property, and accreditation as a qualified chartered surveyor through the globally respected Royal Institution of Chartered Surveyors (RICS), his career has spanned valuations, property development, property management and broad agency work.

Bayleys general manager South Auckland, Sunil Bhana says Steele’s appointment adds depth to the already strong leasing and sales’ team, and will bolster the value Bayleys can deliver to the corporate market – particularly in the airport corridor and in Wiri.

“Paul’s decision to join Bayleys reinforces that we are an attraction brand for high-performing brokers,” says Bhana.

“He wants to be part of the growth that we’re seeing in South Auckland and his appointment gives us a competitive advantage in a market that is recalibrating.

“Paul’s ability to stitch complex deals together, his astute negotiating skills, and the track record he has in the industry will help position us assertively for the next real estate cycle.”

General manager for Bayleys Auckland commercial and industrial Scott Campbell says Steele’s appointment provides an important cornerstone for the business.

“We’re seeing growth in the occupier strategy and solutions-side of our business as companies adjust their footprints and reassess real estate portfolios.

“Paul’s performance history and industry credentials will be invaluable for corporate and institutional clients wanting robust guidance around lease opportunities and the divestment and acquisition of real estate in South Auckland’s prime precincts.”

Bhana says Bayleys South Auckland finished last year on a high note with a number of substantial sales demonstrating the value buyers see in the broader area.

“Significant industrial assets at 2-8 Maurice Road, Penrose and 321 Te Rakau Drive, Burswood sold for $14 million and $14.2 million respectively, while an underutilised light industrial site at 160 Marua Road, Mt Wellington sold for $4,736,000 and an A-grade, 5 Green Star-rated offering at 82 Carbine Road sold for a confidential price.

“We expect to see the market turn another corner this year, especially for investment sales. There’s more economic certainty, we have a better grasp on where interest rates are heading, and the US election is over.”

Bayleys South Auckland has 24 leasing and sales agents, with the majority based out of its East Tamaki office and three brokers working out of Pukekohe.