Archive | Neighbourhoods

Hobsonville Land aims for more houses below median price

HLC Ltd has begun a programme with its builder-partners to increase the supply of new homes at or below the median price of homes in the vicinity of Hobsonville Point, currently $884,000.

HLC is the Government-owned company, formerly the Hobsonville Land Co Ltd, which is engaged in residential land development at Hobsonville Point, and now also at Northcote.

Chief executive Chris Aiken said on Friday the programme would focus on the Buckley B & Te Uru precincts at Hobsonville Point, where 500 homes would be built over the next 4 years at or below the average of the median house prices for the former North Shore & Waitakere cities, as published by the Real Estate Institute every month.

The homes built as part of this programme will be mainly 3- or 4-bedroom homes. Some 2-bedroom homes would also be built, and they’d mostly be terrace houses or apartments.

Mr Aiken said this programme was in addition to the company’s programme to deliver Axis series homes, currently priced at or below $650,000. 20% of all new homes at Hobsonville Point will be Axis series homes.

He said: “The only way to reduce house prices in Auckland is to increase the supply of housing below the median price,” but add that the builders were also motivated by the commercial opportunity: “This is the part of the market in which demand is greatest. Continuing to only build big expensive houses on large sections isn’t meeting the majority of market need.

“Auckland is changing, with more one- or 2-person households, and many homeowners prioritising lifestyle & amenity over a backyard or large house.”

Mr Aiken said these homes would be sold on the open market by the 8 building companies participating in the programme, and would not use a ballot system sometimes required for Axis series homes when demand exceeded supply.

Buyers must buy the property in their own name and be owner-occupiers, meaning the buyer must live in the home for a minimum of 2 years after purchase.

The first homes to be built as part of the programme are expected to be ready for occupation from mid-2018, but some are already available to buy off-the-plan through Ockham Residential Ltd & Classic Builders Group Ltd.

Attribution: Company release.

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Convention centre project delayed but “on budget”

Aside from the financial upheaval in the construction division of Fletcher Building Ltd, subsidiary company The Fletcher Construction Co Ltd told SkyCity Entertainment Group Ltd last Thursday that completion of its NZ international convention centre would be delayed.

When work on site, between Hobson & Nelson Sts, began in February 2016, the total project cost of the convention centre plus associated hotel, laneway & extra carparks was $700 million, with an opening date in 2019.

SkyCity said on Thursday an updated programme of works was still being reviewed, but it currently indicated practical completion for both the convention centre and the Hobson St hotel around the middle of 2019.

SkyCity said it remained comfortable with the contractual arrangements with Fletcher Construction and the project remained on-budget. It said the slight delay wouldn’t impact on any of the convention centre’s confirmed bookings.

Attribution: Company release.

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Mairangi Bay unit sells

One suburban unit sold at Bayleys’ auction in Takapuna on Thursday.

North-east

Mairangi Bay

7A Brighton Terrace, unit 1:
Features: 2-bedroom end unit, study nook, garage
Outcome: sold for $875,000
Agents: Peter Christofferson & Stephanie Glennie

Attribution: Agency release.

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One apartment & a suburban unit sell, but Parnell section takes the cake

A CityLife unit sold under the hammer at Barfoot & Thompson’s apartments auction yesterday, but the 5 apartments that followed were all passed in. At the agency’s second city auction for the day, a suburban unit in Onehunga sold under the hammer – and a vacant rear section in Parnell (pictured) beat them all, selling for $3900/m².

CBD

Learning Quarter

Bankside, 8 Bankside St, unit 5A:
Features: studio
Outgoings: body corp levy $4322/year
Outcome: passed in at $275,000, back on market at $339,000
Agents: Zoran Farac & Justin Choi

Metro City, 82 Wakefield St, unit GA:
Features: 76m² internal, 2 bedrooms, 2 balconies totalling 18m², study, covered parking space
Outgoings: body corp levy $8179/year
Outcome: passed in at $630,000
Agents: Aden Xu & Anni Hao

Queen St

CityLife, 171 Queen St, unit 703:
Features: 63m², one bedroom
Outgoings: body corp levy $6536/year
Outcome: sold for $476,000
Agent: Aaron Cook

Uptown

Amora, 100 Greys Avenue, unit 5Q:
Features: one bedroom, parking space
Outgoings: guaranteed rent, hotel pays body corp levies & rates
Outcome: passed in at $250,000
Agents: Mike Campbell & Claire Leonard

132 Vincent St, unit 4C:
Features: 81m² internal, 2.7m stud, 2 bedrooms, 2 bathrooms with underfloor heating, 11m² balcony, parking space
Outgoings: body corp levy $5544/year + special lift levy $2094
Outcome: no bid
Agent: Aaron Cook

Victoria Quarter

Alpha, 17 Vogel Lane, unit 102:
Features: one-bedroom ground-floor apartment, terrace, parking space
Outgoings: body corp levy $3107/year
Outcome: passed in at $425,000, back on market at $520,000
Agents: Donna Rugay & Ian Waddams

Isthmus east

Onehunga

20 Heretaunga St, unit 2:
Features: 2-bedroom unit, courtyards, garage
Outcome: sold for $570,000
Agent: Kevin Liu

Parnell

8A Ayr St:
Features: 400m² rear section
Outcome: sold for $1.56 million at $3900/m²
Agent: Helen Lam

Attribution: Auctions.

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2 leasehold units plus one in Metropolis sell at auction

2 leasehold apartments – one in the Docks and the other in the Sebel Auckland Viaduct Harbour – plus a unit in the Metropolis were sold at Ray White City Apartments’ auction yesterday, leaving 4 other units unsold.

2 units in the Spencer on Byron hotel in Takapuna were passed in, and a third was withdrawn before the auction started.

CBD

Albert St

Quay West, 8 Albert St, unit 2302:
Features: 74m², one bedroom
Outgoings: rates $1785/year including gst; body corp levy $8433/year
Income assessment: $650-700/week furnished
Outcome: passed in at $565,000
Agent: Ron Yang

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1902:
Features: 52m², corner one bedroom, storage locker, parking space
Outgoings: rates $1595/year including gst; body corp levy $7037/year
Income assessment: $620/week current
Outcome: sold for $616,000
Agent: Dominic Worthington

Quay Park

The Docks, 4 Dockside Lane, unit 224:
Features: leasehold, 30m², one bedroom, remediation of building underway
Outgoings: rates $1037/year including gst; body corp levy $4359/year including ground rent of $1675/year; terminating leasehold from 2011 for 150 years, ground rent reviewed every 7 years, next review November 2018
Income assessment: $390/week current
Outcome: sold for $121,000
Agent: Dominic Worthington

Uptown

Oxford, 13-17 Mount St, unit 5K:
Features: 54m², 2 bedrooms, parking space
Outgoings: rates $1278/year including gst for unit, $1262/year for parking; body corp levy for unit $3624/year, parking $626/year
Income assessment: $650-700/week furnished
Outcome: passed in after the sole bid, from the vendor, at $600,000
Agents: May Ma & Mark Li

Waterfront

Sebel, 85 Customs St West, unit (door) 615:
Features: leasehold, 57m², one bedroom, study area, 7m² balcony
Outgoings: rates $/year including gst; body corp levy $18,038/year, including $7840/year ground rent
Outcome: sold for $300,000
Agents: Judi & Michelle Yurak

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 501:
Features: 59m², fully furnished one bedroom
Outgoings: rates $2190/year including gst; body corp levy $2982/year excluding gst
Income assessment: in hotel management pool
Outcome: passed in at $175,000 + gst
Agents: James Mairs & Gillian Gibson

Spencer on Byron, 9-17 Byron Avenue, unit 612:
Features: 48m², fully furnished one bedroom, parking space
Outgoings: rates $1195/year including gst; body corp levy $3140/year
Income assessment: $550/week, fixed until 30 September
Outcome: passed in at $275,000 + gst
Agents: James Mairs & Gillian Gibson

Spencer on Byron, 9-17 Byron Avenue, unit 712:
Features: 2 bedrooms
Outcome: withdrawn from auction
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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2 leasehold apartments sell at auction

The owner of 2 leasehold apartments in the Quay Park precinct one at Hudson Brown and the other at The Landings, sold both under the hammer at City Sales’ auction yesterday.

The third property up for auction, a New Lynn studio, was passed in.

CBD

Quay Park

Hudson Brown, 57 Mahuhu Crescent, unit 422:
Features: leasehold, 70m², 2 bedrooms, parking space
Outgoings: rates $1608/year including gst; body corp levy $10,004/year including ground rent
Income assessment: $580/week fixed until January
Outcome: sold for $220,000
Agents: Tony Kelly & Trisha Shanaghan

The Landings, 10 Ronayne St, unit 611:
Features: leasehold, 41m², 2 bedrooms
Outgoings: rates $873/year including gst; body corp levy $2799/year, ground rent $2297/year
Outcome: sold for $130,000
Agents: Tony Kelly & Trisha Shanaghan

North-west

New Lynn

10 Crown Lynn Place, unit 3E:
Features: 28m² studio, deck
Outgoings: rates $865/year including gst; body corp levy $2474/year
Outcome: no bid, back on the market at $230,000
Agent: Trisha Shanaghan

Attribution: Auction.

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Bayleys apartment action slow

Bayleys sold 2 northern beach properties under the hammer at its auction yesterday, but action in the apartment sector was slow.

A beach house at 10 Kokopu St, Omaha, sold for $1.575 million and another at 6 Breve St, Mangawhai Heads, sold for $1.125 million.

A new unit in the Hereford Residences just down from the transforming Karangahape Rd received no bid, a cross-leased unit in Mt Albert was passed in, a Glen Eden townhouse was withdrawn from the auction list and put back on the market with a price tag, and the receiver’s auction of a Parnell townhouse was postponed  fortnight.

CBD

Uptown

Hereford Residences, 8 Hereford St, unit 814:
Features: 130m² internal, 20m² covered balcony, 2 bedrooms, 2 bathrooms, 2 lounges, 2 parking spaces
Outgoings: body corp levy $5082/year
Outcome: no bid
Agents: Julie & Ellie Prince

Isthmus east

Parnell

Fox Terrace Apartments, 5-7 Fox St, unit 13:
Features: 135m², 3-level standalone townhouse, 2 bedrooms, 2 bathrooms, 2 parking spaces, ground-floor courtyard, rooftop terrace, in leaky complex which has settled with council
Outcome: taken to market by receiver, auction postponed to Wednesday 2 August
Agent: Chris Reeves

Isthmus west

Mt Albert

825 New North Rd, unit 9:
Features: cross-lease, 1/10 share in 1088m², 2-bedroom unit, parking space
Outcome: passed in at $430,000
Agents: Summer Sun

North-west

Glen Eden

94 Glengarry Rd, unit 19:
Features: 2-level 2-bedroom townhouse, deck, parking space
Income assessment: $390/week appraisal
Outcome: withdrawn from auction, back on market at $478,000
Agents: Christopher Valladares & Michelle Hicks

Attribution: Auction.

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3 suburban units sell

3 of the 5 suburban units & cross-leased homes auctioned at Barfoot & Thompson yesterday were sold under the hammer or shortly after.

Isthmus east

Epsom

7A Atherton Rd:
Features: cross-leased terrace, quarter share in 1384m², 4 bedrooms, deck, internal-access garage
Outcome: sold for $1.505 million
Agents: George Fong & Laura McAuley

15C Cornwall Park Avenue:
Features: cross-lease, 1/3 share in 1275m², 5 bedrooms, pool
Outcome: passed in
Agents: Ann Lepper & James Gai

Isthmus west

Mt Eden

24A Marlborough St:
Features: cross-lease, half share in 698m², 3 bedrooms, deck, offstreet parking
Outcome: passed in at $930,000
Agents: Matt O’Rourke & Ryan Harding

North-west

New Lynn

100 Portage Rd, unit 3:
Features: 2-bedroom unit, garage
Outcome: sold shortly after auction, price not disclosed
Agents: Richard Han & Barry He

South

Manurewa

60 Coxhead Rd:
Features: cross-lease, half share in 1148m², 3-bedroom bungalow, deck, sleepout
Outcome: sold for $520,000
Agent: Repeka Lelaulu

Attribution: Auctions.

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Tunnel dig starts on Albert St

Work began on Monday on bulk excavation for the city rail link cut-&-cover rail tunnels under Albert St in downtown Auckland.

City Rail Link Ltd project director Chris Meale said it was a milestone for the project: “This work marks a significant point in the construction process as we will start to see the tunnels taking shape. It will be exciting & challenging work from an engineering perspective, as we build rail tunnels below groundwater level, while maintaining surface-level access to Albert St for foot & vehicle traffic.

“The bulk excavation is also providing employment opportunities with about 50 people working on site. This is likely to increase to 80 by the end of the year, once tunnel box construction & waterproofing works are underway, with many being workers employed by local sub-contractors.”

The excavation represents about 10% of the 3.45km length of the twin-tunnel underground rail link, and involves digging 18m (about 5 storeys) at the deepest (southern) point, using long-reach excavators above ground and smaller machinery inside the reinforced trench. The tunnels will then be constructed with a cast concrete floor, walls & roof before the trench is backfilled.

The work will be undertaken progressively from Wyndham St at the southern end to Customs St at the northern end. Excavation at the southern end is expected to be complete by October this year and the northern by the middle of next year.

Construction of the tunnel box is expected to start late this year and be completed by late 2018.

By spring 2019, this section of Albert St will be reinstated with a new road surface, bus lanes, widened footpaths & street furniture.

For those interested in watching the big dig, CRL & contractors the Connectus joint venture (McConnell Dowell & Downer) have provided viewing windows at the Wyndham St pedestrian crossings.

Cut-&-cover construction is being used at each end of the CRL tunnels – between Britomart Station and the future Aotea Station and, later, where it connects to the western line at Mt Eden. Between Aotea & Mt Eden stations, the tunnels will be between 13-42m below ground and bored using a 7m-diameter tunnel boring machine.

The city rail link is jointly funded by the Government & Auckland Council and is expected to be completed in 2023-24. Their joint venture company, City Rail Link Ltd, took over the project on 1 July.

Image above: Looking north along the CRL tunnel route on Albert St.

Link: CRL cut-&-cover tunnel excavation

Attribution: Company release.

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Goodman settles Henderson purchase

The Goodman Property Trust has settled its $18.9 million acquisition of the Concourse Industry Park in Henderson.

The trust announced its purchase of the former Alloy Yachts premises & an adjoining industrial property on the corner of Selwood Rd & The Concourse, Henderson, last September.

The 2 former boatbuilding premises have about 22,120m² of high volume warehouse space & 1250m² of associated office.

Management company Goodman (NZ) Ltd’s chief executive, John Dakin, said last year the trust intended to amalgamate the 2 sites into a single 4ha estate: “Close to the cbd and with direct access to State Highway 16 from the Lincoln Rd interchange, this property will become one of Auckland’s best located industrial estates when the western ring route completes in 2017 [and it’s just opened].”

Mr Dakin said the vacant warehouse buildings would be refurbished & reconfigured. Fully leased, they were expected to generate a passing yield of about 7%. The estate also offered 2ha of further development opportunity.

Image above: Goodman’s map showing its Concourse site.

Earlier story:
15 September 2016: Goodman sells Christchurch package on top of Fanshawe St lease confirmation & Henderson project

Attribution: Company release.

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