Archive | Federal St

Grafton townhouse & remediated apartment popular with bidders

A Grafton townhouse sold for $1.3 million and a remediated Normanby Mews apartment, on the city side of Mt Eden, proved popular with buyers at Ray White City Apartments’ auction today.

They were among 5 sales out of 7 units in the auction.

CBD

Federal St

The Federal, 18 Federal St, unit 5F:
Features: 49m², one bedroom
Outgoings: rates $1139/year including gst; body corp levy $3132/year
Income assessment: $480-520/week
Outcome: passed in after bid at $410,000, vendor bid at $440,000
Agents: Krister Samuel & Judi Yurak

Learning Quarter

The Cambridge, 43 Anzac Avenue, unit 505:
Features: 18m² furnished studio
Outgoings: rates $1116/year including gst; body corp levy $5097/year
Income assessment: $320-350/week
Outcome: sold for $153,000
Agents: Judi & Michelle Yurak

Eden Apartments, 32 Eden Crescent, unit 14C:
Features: 32m², one bedroom at penthouse level, balcony, parking space
Outgoings: rates $1468/year including gst; body corp levy $3829/year
Income assessment: $480-520/week furnished
Outcome: sold for $462,000
Agents: Damian Piggin & Daniel Horrobin

96 on Symonds, 96 Symonds St, unit 903:
Features: 36m², 2 bedrooms
Outgoings: rates $1164/year including gst; body corp levy $4334/year
Income assessment: $490/week under long-term management lease
Outcome: passed in at $180,000
Agent: James Mairs

Uptown

Quest Auckland, 363 Queen St, unit 14B:
Features: 32m² furnished studio, balcony, out of hotel lease
Outgoings: rates $2233/year including gst; body corp levy $3404/year
Income assessment: $380-400/week furnished
Outcome: sold for $293,000
Agent: Leo Zhu

Isthmus east

Grafton

Grafton Ridge, 6K Carlton Gore Rd:
Features: 170m², 3-bedroom townhouse on 3 floors, 2 bathrooms, balconies, tandem parking spaces
Outgoings: rates $2768/year including gst; body corp levy $2773/year
Income assessment: $970-990/week furnished
Outcome: sold for $1.309 million
Agent: Krister Samuel

Isthmus west

Mt Eden

Normanby Mews, 22 Normanby Rd, unit 3:
Features: 51m², 2 bedrooms, decks, tandem parking, remediation completed
Outgoings: rates $1590/year including gst; body corp levy $2917/year, $5659 stairwell passive fire works levy, $23,618 final remediation levy; outstanding levies & arrears total $185,236.28, which must be paid by the buyer on top of purchase price
Income assessment: $550-600/week furnished
Outcome: sold on behalf of the Official Assignee for $430,000 + $185,236.28 outstanding levies, for total purchase price of $615,236.28
Agent: Krister Samuel

Attribution: Auction.

Continue Reading

7 apartments sell at Ray White auction

7 of the 9 apartments auctioned at Ray White City Apartments today were sold under the hammer.

CBD

Federal St

Federal, 207 Federal St, unit 704:
Features: 61m² including balcony, fully furnished 2 bedrooms
Outgoings: rates $1430/year including gst; body corp levy $5083/year
Income assessment: $500/week current
Outcome: sold for $525,000
Agent: Victor Liu

Uptown

Q City, 11B City Rd, unit 3A:
Features: leasehold, 59m², one bedroom, leased to Housing NZ until April 2019
Outgoings: rates $1253/year including gst; body corp levy $3296/year, ground rent $6800/year
Income assessment: $18,936/year
Outcome: sold for $92,000
Agents: Ryan Bridgman & Mitch Agnew

Nova en Scotia, 18 Scotia Place, unit GE:
Features: 44m², vacant one bedroom
Outgoings: rates $1316/year including gst; body corp levy $3488/year
Outcome: passed in at $375,000
Agents: Bain Duigan

Victoria Quarter

Grand Chancellor, 1 Hobson St, unit 403:
Features: 57m², one bedroom, 5m² deck, storage, parking space
Outgoings: rates $1582/year including gst; body corp levy $4411/year
Income assessment: $650-700/week furnished
Outcome: sold vacant for $618,000
Agent: Krister Samuel

H47, 47 Hobson St, unit 401:
Features: 61m², one bedroom, secure parking space
Outgoings: rates $1544/year including gst; body corp levy $4704/year
Income assessment: $590-650/week furnished
Outcome: sold vacant for $605,000
Agents: Ryan Bridgman & Mitch Agnew

Heritage Tower, 22 Nelson St, unit 318:
Features: 37m² studio, balcony
Outgoings: rates $1025/year including gst; body corp levy $3361/year
Income assessment: appraisal $450-480/week furnished
Outcome: sold for $295,400
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Ascent, 149 Nelson St, unit 726:
Features: 53m², 2 bedrooms, secure parking space
Outgoings: rates $1101/year including gst; body corp levy $3562/year; special levy of $10,137 was due from current owner by 20 February
Income assessment: $470/week fixed until January 2018
Outcome: sold for $405,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Harbour Green, 11 Union St, unit 301:
Features: 47m², fully furnished 2 bedrooms
Outgoings: rates $1240/year including gst; body corp levy $4012/year
Income assessment: $650/week furnished
Outcome: no bid
Agents: Ron Yang & Danial Horrobin

SugarTree, 27 Union St, Prima unit 813:
Features: 53m², one bedroom, 10m² covered deck
Outgoings: rates $1567/year including gst; body corp levy $3311/year
Income assessment: $480/week fixed until August, appraisal $500-530/week
Outcome: sold for $510,000 at auction brought forward
Agents: Ady Huang & Dominic Worthington

Attribution: Auction.

Continue Reading

5 apartments sell at Ray White auction

5 apartments sold under the hammer at Ray White City Apartments’ auction yesterday and one shortly after, out of 8 units on offer.

They included a studio in the Met on Durham St East, where remedial works are underway, and a unit in the leasehold Scene 1 taken to auction by the mortgagee.

In contrast to some auctions at the start of the year, bidding at this one was at times a frenzy of low raises. Bidding for the last property on the auction list, the unit in the leasehold Scene 1 at Quay Park (with parking space), started at $45,000, went on the market at $105,000 and ended with a sale at $117,000.

CBD

Federal St

Madison on the Square, 37 Federal St, unit 4A:
Features: 60m², fully furnished 2 bedrooms, secure parking space
Outgoings: rates $1684/year including gst; body corp levy $5262/year
Income assessment: $650-700/week furnished
Outcome: sold for $725,000
Agent: Krister Samuel

Learning Quarter

Silo Apartments, 23 Emily Place, unit 6B:
Features: 34m², one bedroom, balcony, parking space
Outgoings: rates $1202/year including gst for apartment, $152 for parking; body corp levy $4183/year for apartment, $746/year for parking
Income assessment: $450-480/week furnished
Outcome: passed in at $385,000
Agents: Steve Kin

The Quadrant, 10 Waterloo Quadrant, unit 1308:
Features: 22m² studio
Outgoings: body corp levy $2795/year
Income assessment: $380-420/week furnished, under hotel management lease
Outcome: sold for $269,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

The Connaught, 14 Waterloo Quadrant, unit 3E:
Features: 35m², one bedroom, storage locker
Outgoings: rates $1037/year including gst; body corp levy $2968/year
Income assessment: $400-450/week furnished
Outcome: sold for $367,000
Agents: May Ma & Mark Li

Cintra, 3 Whitaker Place, unit 7P:
Features: 57m², fully furnished one bedroom, remediation to be carried out
Outgoings: rates $911/year including gst; body corp levy $4261/year
Income assessment: $440/week current
Outcome: sold for $205,000
Agent: James Mairs

Quay Park

Scene 1, 2 Beach Rd, unit 610:
Features: leasehold, 58m², one bedroom, balcony, parking space
Outgoings: rates $1278/year including gst; body corp levy $3275/year, ground rent $5778/year
Outcome: sold for $117,000 at mortgagee sale
Agent: Adam Gurr

Queen St

The Met, 11 Durham St East, unit 4G:
Features: 23m² loft studio
Outgoings: rates $911/year including gst; body corp levy $1680/year, new remediation levy set
Income assessment: $360-380/week furnished
Outcome: passed in at $220,000, sold post-auction for $270,000
Agent: Liz McCarthy

Isthmus east

Parnell

30 Heather St, unit 2E:
Features: 93m², 3 bedrooms, secure parking space, balcony
Outgoings: rates $2439/year including gst; body corp levy $3941/year
Outcome: passed in at $669,000
Agents: Mohan Ball & Tim Warmington

Attribution: Auction.

Continue Reading

8 of 28 apartments & cross-leases sell at Barfoots

8 apartments, townhouses & suburban cross-leased properties were sold out of 28 offered at Barfoot & Thompson’s auctions in its city office this week. The auction for another 2 Docks apartments was postponed.

All up, 16 of the 60 residential properties taken to auction were sold, and no bid was offered on 26.

The one commercial property auctioned, a West Auckland industrial unit taken to court-ordered auction by the body corporate, was sold under the hammer.

Commercial

North-west

Glen Eden

9 Westward Ho Rd, unit H + accessory unit 16 (parking):
Features: single-level industrial unit, parking space, taken to auction by body corporate
Outcome: sold at court-ordered auction for $195,000
Agents: Colin Stewart & Philip Davis

Apartments & suburban cross-leases

CBD

Federal St

Hampton Court, 182 Federal St, unit 5C:
Features: 47m², one-bedroom apartment
Outcome: no bid
Agents: Stephen Shin & Justin Choi

Learning Quarter

Tower Hill, 1 Emily Place, unit 2C:
Features: 78m², 2-bedroom apartment, 33m² courtyard, carport
Outcome: no bid
Agent: Alan Vessey

Quay Park

The Docks, 2 Dockside Lane, unit 203:
Features: leasehold, one-bedroom apartment, balcony, parking space
Outcome: auction postponed
Agent: Sudesh Kumar

The Docks, 8 Dockside Lane, unit 236:
Features: leasehold, one-bedroom apartment, parking space
Outcome: auction postponed
Agent: Sudesh Kumar

Victoria Quarter

Harvard, 147 Hobson St, unit GJ:
Features: 2-bedroom apartment, deck, secure parking space
Outcome: no bid
Agents: Simon Cai & Julie Tri

Wiltshire, 89 Victoria St West, unit 10B:
Features: 56m², one bedroom, balcony
Outgoings: body corp levy $2676/year
Outcome: passed in
Agent: Fiona Lee

Isthmus east

Mission Bay

16 Atkin Avenue, unit 6:
Features: cross-lease, 1/8 share in 1664m², 3-bedroom apartment, balcony, tandem garage
Outcome: sold for $1.75 million
Agent: Dennis Dunford

9 Marua Crescent, unit 11:
Features: cross-lease, 1/12 share in 1011m², one-bedroom apartment, deck, carport
Outcome: passed in
Agent: Lynette Boyd

Panmure

60 Jellicoe Rd, unit 3:
Features: cross-lease, 1/6 share in 1012m², one-bedroom unit, deck, backyard, carport
Outcome: sold for $420,000
Agent: Jessie Yang

Remuera

27B Dell Avenue:
Features: cross-lease, 1/3 share in 903m², 3 bedrooms, garage
Outcome: sold for $1.41 million
Agents: Kathy Bower & Julie Fitzpatrick

12 Kelvin Rd:
Features: cross-lease, half share in 1292m², 4 bedrooms, study, double garage
Outcome: no bid
Agent: Duncan Wu

40A Monteith Crescent, unit G:
Features: 3 bedrooms, conservatory, double garage
Outgoings: body corp levy $1741/year
Outcome: no bid
Agents: Angus Campbell & Michael Bacher

1 Shore Rd, unit 16:
Features: standalone house on 200m² freehold section, 4 bedrooms, carport
Outcome: sold for $1.265 million
Agent: Liz Derbyshire

St Heliers

28 Tarawera Terrace, unit 1:
Features: cross-lease, quarter share in 1586m², 4 bedrooms, internal-access garage
Outcome: sold for $1.87 million
Agents: Bob Gordon & Trevor Wyness

Isthmus west

Eden Terrace

Der Rohe, 10 Flower St, unit 104:
Features: 57m², 2-bedroom apartment, deck
Income assessment: $450/week current
Outcome: passed in, back on market at $500,000
Agents: Aaron Cook & Betty Shao

15 Rendall Place, unit 503:
Features: 2-bedroom apartment, balcony basement parking space, storage locker
Outgoings: body corp levy $3732/year
Outcome: passed in
Agent: Anna Stephens-Brown

Grey Lynn

6 Schofield St, unit 10:
Features: 3-bedroom terrace, deck, carport
Outgoings: body corp levy $4596/year
Outcome: sold for $800,000
Agent: Liz Derbyshire

Hillsborough

15 Currie Avenue, unit 1:
Features: cross-lease, half share in 766m², 2-bedroom unit, basement garage & storage
Outcome: sold for $687,000
Agent: Robin Cross

Mt Eden

40 Horoeka Rd, unit 2:
Features: cross-lease, 1/9 share in 931m², 2-bedroom unit, offstreet parking
Outcome: sold for $700,000
Agents: Verena Lobb & Lisa MacQueen

Mt Roskill

56A May Rd:
Features: cross-lease, half share in 826m², 3 bedrooms, double internal-access garage
Outcome: passed in at $900,000
Agent: Alex Yang

Sandringham

65 Burnley Terrace, unit 5:
Features: one-bedroom ground unit, carport, parking space
Outgoings: body corp levy $1819/year
Outcome: no bid
Agent: Julie Hey

297A Mt Albert Rd:
Features: cross-lease, half share in 843m², 4 bedrooms, deck, carport
Outcome: no bid
Agent: Steve Hood

16 St Lukes Rd:
Features: cross-lease, 1/3 share in 1358m², 4-bedroom villa
Outcome: no bid
Agents: Reeka Lelaulu & Sue Cohen

34 Watea Rd, unit 3:
Features: cross-lease, 1/8 share in 1227m², 2-bedroom unit, garage
Outcome: no bid
Agents: Jeff Stretton & Monica Bajaj

North-west

Glendene

4 Lydford Place, unit 2:
Features: cross-lease, half share in 675m², 3 bedrooms, deck, garage, workshop
Outcome: no bid
Agents: Julia Barnett & Ryan Littler

Glen Eden

9 Evans Rd, unit 12:
Features: 2-bedroom unit, deck, internal-access garage
Outgoings: body corp levy $595/year
Outcome: passed in
Agents: Julia Barnett & Ryan Littler

Henderson

38 Eyre St:
Features: cross-lease, half share in 1026m², 3 bedrooms, basement garage, double carport
Outcome: passed in
Agent: Roger Franklin

New Lynn

2 Kiritoa St:
Features: cross-lease, half share in 870m², 3 bedrooms, garage
Outcome: no bid
Agent: Jennifer Peary

116 Titirangi Rd, unit 1:
Features: cross-lease, 1/10 share in 4116m², 3-bedroom bungalow, carport
Outcome: no bid
Agents: Aken Yuan & Michelle Zhou

Swanson

637 Swanson Rd, unit 1:
Features: cross-lease, half share in 1012m², 2-bedroom bungalow, deck, offstreet parking
Outcome: no bid
Agents: Raj Mitra & Maggie Altaf

Attribution: Auctions.

Continue Reading

Updated: Strong yields as 14 sell at Bayleys’ commercial auction, 3 post-auction sales

Published 2 December 2016, updated 5 & 12 December 2016:
Strong yields were a feature as 14 of the 27 properties taken to auction in Bayleys’ final Total Property portfolio for the year were sold under the hammer on Wednesday.

They included 3 units sold in stage 3 of the Grange development (pictured) at the southern entrance to Warkworth, and another one sold post-auction.

2 other properties have been sold post-auction – a unit on Amera Place, East Tamaki, and a property on Moore St, Howick, sold on a 4.1% yield.

CBD

Federal St

205 Federal St, unit R1:
Features: 60m², one of only 2 retail tenants in Federal City apartment building, 8-year lease from July 2014
Rent: $29,120/year net + gst
Outcome: passed in at $475,000
Agents: Piyush Kumar & Oscar Kuang

Learning Quarter

23 Whitaker Place, units 110 & 111:
Features: 120m² unit, suitable for restaurant
Rent: $23,478.26/year from tenant on 3-year lease from 1 August 2014
Outcome: sold for $150,000
Agents: Nicolas Ching & Beterly Pan

Queen St

Mid-City, 239 Queen St, unit 2A:
Features: 282m² floor area on first floor, tenant the Ryo Japanese restaurant, 6-year lease, 2 rights of renewal
Rent: $120,000/year average from 6-year lease
Outcome: no bid
Agents: Graeme Sun & Oscar Kuang

Uptown

3 shops & gym of 14 ground-floor commercial units in the Summit on Symonds apartment conversion building, next to the Langham Hotel at the corner of Karangahape Rd & Symonds St:

105 Symonds St, shop 5, Nata Portuguese Bakery:
Features: 69.47m², 6-year lease
Rent: $49,400/year net + gst
Outcome: passed in at $500,000
Agents: Millie Liang

105 Symonds St, shop 9, laundromat:
Features: 43.41m², self-service laundromat, 8-year lease
Rent: $30,387/year net + gst
Outcome: passed in at $350,000
Agents: Millie Liang

105 Symonds St, shop 11, The Corner Café:
Features: 68.39m², 8-year lease
Rent: $47,873/year net + gst
Outcome: passed in at $500,000
Agents: Millie Liang

103-105 Symonds St, unit 15, Anytime Fitness:
Features: m², 10-year lease, beside the entrance to the Langham Hotel
Rent: $184,000/year net + gst
Outcome: withdrawn from auction
Agents: Millie Liang

Isthmus east

Onehunga

106 Beachcroft Avenue:
Features: 692m² site, 431m² standalone warehouse & office building
Outcome: sold vacant for $1.505 million
Agents: James Valintine & Graeme Moore

255 Onehunga Mall:
Features: 379m² site, Cotton On Clothing (NZ) Ltd on 8-year lease from 15 August with one 8-year right of renewal
Rent: $110,000/year + gst + outgoings, 3%/year rental growth
Outcome: sold for $2.21 million at a 4.98% yield
Agents: Tony Chaudhary & Damien Bullick

Otahuhu

121 Church St:
Features: 731m² site zoned terrace housing & apartment building, 138m² floor area, medical centre on 5-year lease from October 2015
Rent: $48,000/year + gst + outgoings
Outcome: declared reserve of $800,000, sold prior for $933,000 at a 5.14% yield
Agents: Tony Chaudhary & Janak Darji

Panmure

141-157 Queens Rd:
Features: 2963m² site on 2 titles, 1464m² floor area, 35 parking spaces, residential potential under the unitary plan, 27m height limit
Rent: $357,000/year net + gst
Outcome: no bid
Agents: Mark Pittaway

Penrose

419B Church St East:
Features: 1596m² industrial site, 25 parking spaces, 8-year head lease to Southpark Corp Ltd from 1 November 2015
Rent: $25,485/year net + gst
Outcome: passed in after vendor bid at $3.7 million
Agents: James Hill & Ben Bayley

Isthmus west

Morningside

4 Taylors Rd:
Features: 809m² site zoned mixed use, 585m² office & high stud warehouse
Outcome: sold vacant for $2.9 million
Agents: Scott Kirk & James Were

Pt Chevalier

1191 Great North Rd:
Features: 226m² retail, occupied by optometrist & osteopath
Rent: $83,900/year
Outcome: sold for $1.55 million at a 5.4% yield
Agents: Owen Ding & Quinn Ngo

North-east

Birkenhead

268 Onewa Rd, unit 10A:
Features: 125m², office & residential tenancies, town centre zoning, 2 parking spaces
Rent: $23,464.57/year net + gst + outgoings
Outcome: withdrawn from auction
Agents: Tonia Robertson & Chris White

Torbay

934 Beach Rd:
Features: cross-lease, 1/3 share in 1072m², 140m² beachfront retail, only business-zoned property on the Torbay/Waiake beachfront, taken to auction by the Official Assignee under the Criminal Proceeds (Recovery) Act
Outcome: sold for $1.8 million
Agents: Damian Stephen & Adam Curtis

Warkworth

4 units in stage 3 of the Grange, 67 Auckland Rd, development by Square & Main St Ltd (Adam Reynolds), stages 1 & 2 both fully sold
Agents: Matt Lee, Quinn Ngo, Jan Hutcheson & James Chan, and Paul Dixon on unit 14

Unit 5A, Cizzlin:
Features: 128.3m², 8-year lease
Rent: $65,000/year net + gst
Outcome: sold for $1.005 million at a 6.47% yield

Unit 13B, The Grange Bakery:
Features: 76.8m², 5-year lease
Rent: $30,000/year net + gst
Outcome: sold for $560,000 at a 5.34% yield

Unit 11, Fish Nets:
Features: 59m², 10-year lease
Rent: $30,975/year net + gst
Outcome: sold for $565,000 at a 5.48% yield

Updated: Unit 14, Green Bay Fruit & Veg:
Features: 297.2m², 8-year lease
Rent: $92,500/year net + gst
Outcome: passed in after vendor bid at $1.25 million, sold post-auction for $1.365 million at a 6.77% yield

Unit 22, Cross Gate Variety Store:
Features: 373.7m², 6-year lease
Rent: $86,700/year net + gst
Outcome: withdrawn from auction

North-west

Henderson

349 Great North Rd:
Features: 276m² site, 10-year lease from July
Rent: $50,000/year net + gst
Outcome: sold for $1.045 million at a 4.8% yield
Agents: Mike Adams & Laurie Bell

Lincoln North shopping centre, 192 Lincoln Rd, unit B4:
Features: 60.12m², retail unit, new 5-year lease to OPSM
Rent: $22,545/year net + gst
Outcome: sold for $465,000 at a 4.85% yield
Agents: Matt Lee & Quinn Ngo

South

East Tamaki

Updated: 12 Amera Place, unit 5:
Features: 105m² unit, 6-year lease starting this month
Rent: $50,150/year net + gst + outgoings
Outcome: passed in at $900,000, sold post-auction for $910,000 at a 5.5% yield
Agents: Katie Wu & John Bolton

9-11 Nandina Avenue:
Features: 2 titles, each of 2552m², metalled & flat, 74m road frontage, business 5 zoning
Outcome: sold for $2.86 million
Agents: John Bolton & Katie Wu

Howick

Updated: 8-14 Moore St:
Features: 875m² site zoned business town centre under unitary plan, 590m² floor area, 6 tenancies
Rent: $94,262.74
Outcome: passed in at $2.11 million, sold post-auction for $2.3 million at a 4.1% yield
Agents: Tony Chaudhary & Janak Darji

Manukau

Pacific Retail Centre, 792 Great South Rd, unit 6:
Features: 89m² Subway restaurant
Rent: $39,367.45/year net + gst + outgoings
Outcome: passed in at $750,000
Agents: Terry Kim & Janak Darji

52-58A St George St:
Features: 971m² in 2 titles zoned town centre under unitary plan, 2 tenants,
Rent: $80,040/year + gst
Outcome: no bid
Agents: Oscar Kuang & James Chan

Pukekohe

1722 & 1748 Buckland Rd:
Features: 14.4336ha in 2 titles overlooking Pukekohe racetrack, zoned future urban, proposed light industrial, has 3-bedroom house & 2-bedroom cottage
Outcome: no bid
Agents: Shane Snijder & Peter Migounoff

South of the Bombays

Coromandel

Whitianga

17 Monk St:
Features: 516m² site, 800m² floor area – 4 shops in 335m² on ground floor, plus carport, 2 apartments in 376m² upstairs licensed as traveller accommodation, plus 60m² deck & terrace; separate studio & workshop
Rent: about $53,000/year net
Outcome: sold for $1.03 million at a 5.15% yield
Agent: Noel Rogers

Hawke’s Bay

Napier

359 Marine Parade:
Features: 1413m² site, 20 self-contained motel units + manager’s accommodation
Rent: $225,750/year + gst from motel lease running until 2040
Outcome: sold for $3.75 million at a 6% yield
Agents: Paul Dixon & Sam MacDonald

Attribution: Auction.

Continue Reading

Gym, 2 apartments & 4 suburban cross-leases sell

A Henderson warehouse most recently used as a gym and an Argent Hall apartment were sold at Barfoot & Thompson’s commercial & apartments auction session yesterday.

Another apartment, in the Queens Lodge development behind Broadway and beside the Newmarket railway station (pictured), was sold in the agency’s afternoon residential session.

Also at the afternoon session, 4 of the 6 cross-leased properties were sold under the hammer.

Commercial

North-west

Henderson

4 Amokura St, unit D:
Features: 170m², high stud warehouse most recently used as a gym, mezzanine office & amenities, 4 parking spaces, offered “as is where is”
Outcome: sold vacant for $362,000 + gst under the Criminal Proceeds (Recovery) Act
Agents: Elaine Tutty & Roger Franklin

Apartments

CBD

Federal St

Federal, 207 Federal St, unit 903:
Features: 61m², 2 bedrooms
Outgoings: body corp levy $5247/year
Income assessment: $580/week, fixed until February
Outcome: passed in, back on market at $555,000
Agents: Stephen Shin & Yasu Ka

Learning Quarter

Argent Hall, 2 Eden Crescent, unit 8G:
Features: 49m², one bedroom, 2 balconies
Outgoings: body corp levy $5480/year
Outcome: sold for $450,000
Agents: Stephen & Leo Shin

Crescent, 7 Eden Crescent, unit 201:
Features: 59m², 2 bedrooms, study, balconies, parking space, bottom side of the Quadrant Hotel building at 10 Waterloo Quadrant
Outgoings: body corp levy $1166/year
Outcome: no bid, back on market at $639,000
Agents: Stephen & Leo Shin

Uptown

Amora Hotel, 100 Greys Avenue, unit 2B:
Features: one bedroom, parking space
Outgoings: body corp levy $4401/year, plus common area air-conditioning special levy $1864 and long-term maintenance levy $797
Income assessment: $1122/month including gst from hotel lease; in hotel pool until 31 December 2020
Outcome: passed in
Agents: Mike Campbell & Grant Elliott

Eclipse, 156 Vincent St, unit 7J:
Features: 41m², one bedroom
Outgoings: rates $1189/year including gst; body corp levy $3438/year
Income assessment: $400/week fixed until April
Outcome: no bid, back on market at $385,000
Agents: Stephen Shin & Yasu Ka

Isthmus east

Newmarket

Queens Lodge, 176 Broadway, unit C617:
Features: 2-bedroom apartment, 2 bathrooms, parking space
Outgoings: body corp levy $2192/year
Outcome: sold for $696,000
Agents: Michelle Zhang

Parnell

30 Heather St, unit 18:
Features: 3 bedrooms, balcony, parking space
Outgoings: body corp levy $4939/year
Income assessment: $580/week, fixed until February
Outcome: no bid
Agents: Sarah Garlick & Estee Zeng

Suburban cross-leases:

Isthmus east

Kohimarama

34 Melanesia Rd, unit 3:
Features: cross-lease, 1/3 share in 890m², 4-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: sold for $1.725 million
Agents: Trevor Wyness & Louise Barnsley

Onehunga

4A Edmonton Avenue:
Features: cross-lease, half share in 765m², 3 bedrooms, 2 bathrooms, double internal-access garage
Outcome: no bid, back on market at $849,000
Agents: Paresh Patel

One Tree Hill

14 Rangipawa Rd:
Features: cross-lease, half share in 845m², 3 bedrooms, deck, carport
Outcome: sold for $1.085 million
Agent: Anna Stephens-Brown

Royal Oak

21A & 21B Campbell Rd:
Features: cross-lease, 2 half shares in 1120m
Outcome: passed in
Agents: Helen Lam & Wendy Sadd

Isthmus west

Mt Roskill

172 Melrose Rd, unit 1:
Features: cross-lease, half share in 657m², 2-bedroom unit, garage
Outcome: sold for $715,000
Agents: Di Martens

South

Mangere Bridge

5A McIntyre Rd, unit 2:
Features: cross-lease, half share in 929m², 3 bedrooms, deck, internal-access garage
Outcome: sold for $800,000
Agents: Jamie Gray

Attribution: Company release.

Continue Reading

One sells & one passed in at 18 Federal

One apartment at 18 Federal St (pictured) was sold and another passed in at Barfoot & Thompson’s apartments auction today. A cross-leased property in Forrest Hill was also sold, the other 3 properties on the auction list attracted no bid and 3 more were sold before the auction.

CBD

Albert St

Quay West, 8 Albert St, unit 1402:
Features: 74m², fully furnished one bedroom, balcony
Outgoings: body corp levy $6323/year
Outcome: no bid
Agent: Joy Hu

Federal St

The Federal, 18 Federal St, unit 3F:
Features: 49m², one bedroom, high stud
Outgoings: rates $/year including gst; body corp levy $3015/year
Income assessment: $/week
Outcome: sold for $439,000
Agents: Stephen & Leo Shin

The Federal, 18 Federal St, unit 5F:
Features: one bedroom
Outgoings: body corp levy $3123/year
Outcome: passed in at $440,000
Agents: Stephen Shin & Richard Han

Federal Apartments, 207 Federal St, unit 906:
Features: 2 bedrooms
Outgoings: body corp levy $5247/year
Outcome: no bid
Agents: Rita Herceg & Alex Allan

Learning Quarter

Silo, 23 Emily Place, unit 4N:
Features: studio, deck, parking space
Outcome: sold prior
Agents: Stephen & Leo Shin

Metro City, 82 Wakefield St, unit 12B:
Features: fully furnished studio, balcony, storage locker
Outcome: sold prior
Agents: Selina Zheng & Tommy Zhang

Victoria Quarter

H47, 47 Hobson St, unit 810:
Features: 45m², one bedroom
Outgoings: body corp levy $3530/year
Outcome: no bid
Agents: Stephen Shin & Richard Han

Fiore, 152 Hobson St, unit 411:
Features: 55m², fully furnished one bedroom, storage locker, parking space
Outgoings: rates $1316/year including gst; body corp levy $2914/year
Income assessment: $500-520/week
Outcome: sold prior
Agents: Selina Zheng & Tommy Zhang

North-east

Forrest Hill

138 Forrest Hill Rd, unit 2:
Features: cross-lease, half share in 809m², 3 bedrooms, 2 bathrooms, deck, double garage
Outcome: sold for $930,000
Agents: George Fong & Laura McAuley

Attribution: Auction.

Continue Reading

Leasehold & leaky unit turns into hot property

A building with 2 serious negatives – it’s both leasehold & leaky – turned into hot property at Ray White City Apartments’ auction yesterday.

A one-bedroom unit in The Landings (pictured), beside the old Auckland Railway Station in the Quay Park precinct, was auctioned with a $50,000 declared reserve. The building has remediation work underway, due for completion next May at a cost which could reach $20 million, and this unit has outstanding levies for that work plus the ground lease totalling over $11,000, which would eat up about half the assessed annual income.

Multiple bidders in the room and on the phone quickly took the auction price tag from the declared reserve figure to $60,000, through $70,000 & $80,000, and finally to $91,000.

Against uncertainties such as the final remediation bill and the next ground-lease rise, that sale price wasn’t outlandish, put at a 10.1% return on net income, or 5.4% on the assessed net income after continuing outgoings (rates, body corporate levy & ground lease).

It was a flurry of activity in a difficult market which has seen many apartments & houses passed in, often with no bid made, and bidding generally slowing down at residential auctions around the city in recent months.

At yesterday’s Ray White auction, 6 of the 11 apartments were sold under the hammer. Auctioneer Ted Ingram used vendor bids to indicate the preferred market level on the first 3 properties and got 2 of them sold, one after considerable negotiation and a reduction in the reserve.

CBD

Federal St

Federal Apartments, 207 Federal St, unit 1404:
Features: 61m², 2 bedrooms, secure basement parking space
Outgoings: rates $1633/year including gst; body corp levy $6477/year
Income assessment: $480/week, fixed until March
Outcome: passed in at $540,000
Agents: Antonia Dickey

Learning Quarter

St Paul Apartments, 4 St Paul St, unit 14A:
Features: 34m², one bedroom, remedial issues identified
Outgoings: rates $708/year including gst; body corp levy $4465/year
Income assessment: $350/week current
Outcome: sold for $181,000
Agent: Dominic Worthington

Forte, 37 Symonds St, unit 708:
Features: 27m², one bedroom
Outgoings: rates $1025/year including gst; body corp levy $2504/year
Income assessment: $380/week, fixed until February
Outcome: sold for $255,000
Agents: James Mairs & Dominic Worthington

Forte, 37 Symonds St, unit 1008:
Features: 27m², one bedroom
Outgoings: rates $1037/year including gst; body corp levy $2656/year
Income assessment: $380/week unfurnished, $420/week furnished
Outcome: sold vacant for $265,000
Agents: James Mairs & Dominic Worthington

Quay Park

The Landings, 10 Ronayne St, unit 207:
Features: leasehold, 38m², one bedroom
Outgoings: rates $809/year including gst; body corp operational levy $2240/year, ground rent $1875/year, legal levy $1550 (part paid), remedial works levy $7733
Income assessment: $400-450/week
Outcome: sold vacant for $91,000
Agents: James Mairs & Dominic Worthington

Queen St

The Guardian, 105 Queen St, unit 213:
Features: 39m², one bedroom, high stud
Outgoings: rates $1281/year including gst; body corp levy $3261/year
Income assessment: $400-450/week furnished
Outcome: sold for $361,900
Agents: Ryan Bridgman & Mitch Agnew

Victoria Quarter

Heritage Farmers, 35 Hobson St, unit 613:
Features: 55m², one bedroom, hotel furniture package, secure covered parking space
Outgoings: rates $3616/year including gst; body corp levy $9338/year, remediation levy $8140 due 31 January
Income assessment: $875/month current under hotel management lease, appraisal $580-620/week furnished
Outcome: sold for $380,000 + gst
Agents: Damian Piggin & Daniel Horrobin

Stanford, 189 Hobson St, unit 2E:
Features: 40m², 2 bedrooms, balcony
Outgoings: rates $1050/year including gst; body corp levy $4101/year
Income assessment: $430-460/week furnished
Outcome: passed in at $310,000
Agents: Ryan Bridgman & Mitch Agnew

Columbia on Nelson, 15 Nelson St, unit 2O:
Features: 22m² studio, remedial works completed and code compliance certificate issued
Outgoings: rates $987/year including gst; body corp levy $1625/year
Income assessment: $340-360/week furnished
Outcome: passed in at $230,000
Agents: Ryan Bridgman & Mitch Agnew

The Peaks, 117 Victoria St West, unit 3A:
Features: 60m², one bedroom, secure basement parking space & storage locker
Outgoings: rates $1316/year including gst; body corp levy $2337/year
Income assessment: $410/week for apartment, $50/week for parking, both current
Outcome: passed in at $500,000
Agent: Ann Bennett

Isthmus west

Eden Terrace

North Eden Apartments, 3 Ngahura St, unit 23:
Features: 95m², split level, 2 bedrooms, 2 parking spaces
Outgoings: rates $1296/year including gst; body corp levy $2808/year
Income assessment: $530-580/week furnished
Outcome: passed in at $530,000
Agents: Ryan Bridgman & Mitch Agnew

Attribution: Auction.

Continue Reading

One apartment out of 5 sells at Barfoots auction

One of the 5 apartments auctioned at Barfoot & Thompson today was sold under the hammer, at $8700/m². A Mt Eden townhouse has had a reclad completed but attracted no bid.

CBD

Federal St

Federal Apartments, 207 Federal St, unt 301:
Features: 61m², 2 bedrooms, parking space
Outgoings: body corp levy $5739/year
Outcome: passed in at $552,500
Agents: Stephen Shin & Yasu Ka

Learning Quarter

Sun, 47 Wakefield St, unit 307:
Features: one bedroom
Outgoings: body corp levy $3387/year
Outcome: passed in at $190,000
Agents: Stephen & Leo Shin

Uptown

CityZone, 11 Liverpool St, unit 806:
Features: 62m², 3 bedrooms, balcony
Outgoings: body corp levy $3745/year
Income assessment: $640/week, fixed until February
Outcome: passed in at $370,000
Agents: Stephen Shin & Yasu Ka

Victoria Quarter

Zest, 72 Nelson St, unit 328 (pictured):
Features: 48m², 2 bedrooms, 2 bathrooms, balcony
Outgoings: body corp levy $4017/year
Outcome: sold for $418,000
Agents: Selina Zheng & Tommy Zhang

Isthmus west

Mt Eden

4B Dunbar Rd:
Features: 102m², 2-bedroom townhouse, study, balcony internal-access garage, code compliance certificate issued for reclad
Outgoings: body corp levy $1496/year
Outcome: no bid
Agents: Selina Zheng

Attribution: Auction.

Continue Reading

All apartments passed in at Barfoots auction

All 5 apartments auctioned at Barfoot & Thompson yesterday were passed in, but one was sold prior.

CBD

Albert St

Stamford Residences, 26 Albert St, unit 201:
Features: 127m² including deck, air-conditioned, 2 bedrooms, 2 bathrooms, enclosed loggia
Outgoings: body corp levy $9224/year
Outcome: passed in at $800,000
Agents: Michele Ballinger & Jean-Marc D’Anglejan

Federal St

Federal, 207 Federal St, unit 110:
Features: 2 levels, 3 bedrooms, 2 bathrooms
Income assessment: $750/week current
Outcome: passed in at $450,000, back on the market at $635,000
Agents: Stephen Shin & Yasu Ka

Learning Quarter

47 Wakefield St, unit 307:
Features: studio
Outcome: auctioned postponed until 1 September
Agents: Stephen & Leo Shin

Uptown

Volt, 430 Queen St, unit 1605:
Features: 2 bedrooms
Outgoings: body corp levy $4578/year
Income assessment: $480/week current
Outcome: passed in at $350,000, back on the market at $435,000, option on parking space at $85,000
Agents: Stephen Shin & Yasu Ka

Victoria Quarter

Wiltshire, 89 Victoria St West, unit 4C:
Features: one bedroom, balcony
Outgoings: body corp levy $1677/year
Outcome: sold prior
Agent: Fiona Lee

Isthmus east

Grafton

Citta, 184 Symonds St, unit 214 (pictured):
Features: 79m², 2 bedrooms, 2 bathrooms, secure parking space
Outgoings: rates $1562/year including gst; body corp levy $4220/year
Outcome: passed in at $500,000, back on the market at $635,000
Agents: Rean Khoo & Mamun Rashid

Newmarket

Kings Square, 26 Remuera Rd, unit 519:
Features: 2 bedrooms, 2 bathrooms, balcony, 2 secure parking spaces
Outgoings: body corp levy $3331/year
Outcome: passed in at $825,000
Agents: Livia Li & Alan Guo

Attribution: Auction documents.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux