Archive | Kitchener St

New zones highlighted for residential sales

The potential of new zoning under Auckland’s unitary plan is becoming a strong point for residential land sales as auction prices for houses decline and far more properties are passed in this year than last.

That was the case with 2 properties sold at Bayleys auctions this week, and a third had the existing commercial use as an attraction.

In the city centre, a 2-bedroom Metropolis apartment was sold under the hammer.

Square metre calculations below are based on more intensive use, excluding the value of the existing house.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2014:
Features: 2-bedroom apartment, secure covered parking space
Outcome: sold for $577,500
Agent: Harry Cheng

Isthmus east

Royal Oak

20 Acorn St:
Features: 828m² flat section zoned apartments & terrace housing, 4 bedrooms, garage
Outcome: sold for $2.82 million at $3406/m² land
Agent: Dianne Burt

Isthmus west

Sandringham

470 Sandringham Rd (pictured):
Features: 675m² corner site zoned mixed housing urban, 5-bedrooms-plus, 2 bathrooms
Outcome: sold for $1.5 million at $2222/m² land
Agent: Summer Sun

South

Howick

110 Ridge Rd & 12 Nelson St:
Features: 1741m² corner road-frontage site on 2 titles, a house on each section, 11m height & 45% site coverage as of right, agent says existing commercial use of the past 20+ years means mixed commercial & housing a possibility
Outcome: sold for $2.6 million at $1493/m² land
Agent: Gary Robertson

Attribution: Agency release.

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Warehouse, 2 cross-leases & a multi-unit property sell

A Mt Wellington warehouse, 2 residential cross-leases and property with 4 units on the one title were sold at Barfoot & Thompson auctions over the last 2 days.

Units in City Gardens & the Celestion were passed in, one in Tower Hill was sold prior and one in the Metropolis was withdrawn from auction.

Commercial

Isthmus east

Mt Wellington

48 Elizabeth Knox Place:
Features: 1937m² section, 811m² warehouse with about 500m² of mezzanine storage, 67m² ground-floor amenities & office, 42m² mezzanine amenities
Outcome: sold for $2.15 million
Agent: Mike Jensen

Apartments

CBD

Albert St

City Gardens, 76 Albert St, unit 23A:
Features: 59m², 2-bedroom corner apartment
Outgoings: body corp levy $4518/year; special remediation levies have been paid in full and the unit has an indicative settlement share of $133,889 to cover further costs; current ballpark estimates of remediation are about $22 million including gst
Outcome: passed in, back on the market at $449,000
Agents: Livia Li & Alan Guo

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1010:
Features: one bedroom
Outgoings: body corp levy $4072/year
Outcome: withdrawn from auction
Agent: Paul Neshausen

Learning Quarter

Celestion, 19 Anzac Avenue, unit 302:
Features: 56m², air-conditioned 2-bedroom apartment, 11m² balcony
Outgoings: body corp levy $4284/year
Outcome: passed in
Agent: Jason Buckwell

Tower Hill, 1 Emily Place, unit 10C:
Features: 2 bedrooms, parking space, storage locker
Outcome: sold prior
Agent: Aaron Cook

Isthmus east

Grafton

31 Boston Rd:
Features: 151m² 4-bedroom apartment, mezzanine lounge, private courtyard; 112m² 2-bedroom apartment, balcony; 87m² 3-room office space; 158m² warehouse, 7 offstreet parking spaces; total 530m²
Outcome: auction postponed until Thursday 9 March at 10am
Agents: Ross & Joss Goodall

Mission Bay

63 Selwyn Avenue, unit 5:
Features: cross-lease, 1/6 share in 1038m², 2-bedroom unit, carport
Outcome: sold for $696,500
Agents: Jane & David Wang

Mt Wellington

36A Harding Avenue:
Features: 1149m² section, 4 one-bedroom units on one title, 4 carports
Income assessment: $66,560/year appraisal in present condition
Outcome: on the market at $1.21 million, sold for $1.76 million
Agent: Rain Diao

Onehunga

95N Mays Rd:
Features: 80m² 2-bedroom terrace, patio, 2 parking spaces
Outgoings: body corp levy $561/year, but $66,792 in special remediation levies was raised last year, estimated to be 60% of remediation costs; the body corporate has a claim before the Weathertight Home Resolution Service
Outcome: passed in, back on market at $598,000
Agents: Su Ma & Hattie Huo

Parnell

15 Augustus Terrace, unit 2C:
Features: one bedroom, parking space, storage unit
Outcome: no bid, back on market at $495,000
Agents: Jill Jackson & Emma John

25 Cheshire St, unit A3:
Features: one-bedroom apartment, balcony, tandem parking
Outgoings: body corp levy $4296/year
Outcome: no bid
Agents: Michael & Tatyana Ataman

Isthmus west

Avondale

6 Elm St:
Features: 1012m² section, 3-bedroom villa & adjoining 12-bedroom extension, 2 bathrooms, 3 living areas, 6 offstreet parking spaces
Outcome: no bid, back on market at $1.999 million
Agent: Jason Li

Grey Lynn

34 Prime Rd:
Features: cross-lease, half share in 617m², 5-bedroom bungalow, 2 bathrooms, 2 parking spaces
Outcome: auction brought forward after $1.52 million offer was acceptable, sold under the hammer for $1.647 million
Agents: Repeka Lelaulu

South

Pakuranga

25 Pandora Place:
Features: 726m² section, 2 one-bedroom units & one 2-bedroom unit, garage, 2 carports, 3 other parking spaces
Outcome: passed in
Agent: Rain Diao

Attribution: Auction.

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3 apartments & 6 cross-leases among Barfoot sales

12 of the 28 residential properties auctioned at Barfoot & Thompson’s city office yesterday were sold under the hammer.

They included 6 of the 10 cross-leased homes and all 3 apartments – one apartment the mortgagee sale of a unit in Metropolis, one on Khyber Pass and the third in Kings Square, Newmarket (pictured above).

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2101 (21A):
Features: one-bedroom apartment
Outcome: sold at mortgagee auction for $372,000
Agent: Philip Davis

Isthmus east

Glendowie

2A Monterey St:
Features: cross-lease, half share in 791m², 153m² 3-bedroom townhouse, 2 bathrooms, courtyard, double garage
Income assessment: $760/week current
Outcome: no bid
Agent: Kelly Midwood

Glen Innes

10A Courtland Avenue:
Features: cross-leased 1813m², 3 bedrooms, deck, carport
Outcome: no bid
Agent: Shane Anderson

Meadowbank

1 Hawkins St:
Features: cross-lease, half share in 728m², 105m² 2-bedroom duplex, deck, offstreet parking
Outcome: sold for $885,000
Agents: Michael & Tatyana Ataman

30A Hawkins St:
Features: cross-lease, half share in 660m², 2 bedrooms, carport
Outcome: sold for $862,000
Agents: Trevor Wyness & Louise Barnsley

Newmarket

373 Khyber Pass Rd, unit 3:
Features: studio, courtyard
Outgoings: body corp levy $3049/year
Outcome: sold for $381,000
Agent: Cici Wang

Kings Square, 26 Remuera Rd, unit 718:
Features: 100m², 3-bedroom apartment, 2 bathrooms, 2 basement parking spaces
Outgoings: body corp levy $4617/year
Outcome: sold for $1 million at pre-auction auction
Agents: Cici & Miro Wang

Onehunga

Somerset Gardens, 53 Mays Rd, unit 9:
Features: cross-lease, 1/13 share in 5096m², 3 bedrooms, internal-access garage
Outcome: sold for $795,000 at auction brought forward
Agents: Leonie Stabler & Di Lynds

Parnell

21B Cathedral Place:
Features: cross-lease, 1/3 share in 1719m², 3-bedroom townhouse, 2 bathrooms, study, 3 living areas, patios, decks, double garage
Outcome: sold for $1.735 million
Agents: Jill Jackson & Emma John

73 Gibraltar Crescent:
Features: 3-bedroom townhouse, 2 bathrooms, deck, double garage
Outgoings: body corp levy $1973/year
Outcome: no bid
Agents: George Fong & Laura McAuley

Pt England

38 & 38A Tamatea Avenue:
Features: both halves of a 787m² cross-lease, 3 bedrooms, deck, garage
Outcome: passed in at $850,000
Agents: George Fong & Amy Xiong

Royal Oak

14 Campbell Rd, unit 2:
Features: cross-lease, 1/6 share in 1206m², 2-bedroom unit, garage
Outcome: sold for $730,000
Agent: Sylvia Lu

Isthmus west

Pt Chevalier

220 Pt Chevalier Rd, unit 2:
Features: cross-lease, half share in 609m², 3 bedrooms, deck, carport
Outcome: sold for $1.21 million
Agent: Felicity Scott

North-west

Henderson

1 Ribblesdale Rd, unit 3;
Features: cross-lease, 1/7 share in 2023m², 2-bedroom unit, carport, storage unit
Outcome: no bid, back on market at $480,000
Agent: Grant Hetherington

South

East Tamaki

9 Haven Drive:
174m² townhouse on 147m² section, 2 bedrooms, double garage, courtyards
Outcome: sold for $632,000
Agents: Thomas & Helen Weber

Attribution: Auctions.

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Oaks to introduce Avani brand at Metropolis

Oaks Hotels & Resorts NZ Ltd, a subsidiary of Bangkok-based Minor International PCL, intends to introduce the Avani brand to New Zealand after gaining Overseas Investment Office approval to buy Chang Eun Oh’s hotel business at the Metropolis apartments in Auckland.

The complex has 412 apartments & commercial units, not all in the hotel pool.

The Overseas Investment Office made its decision on 7 November and released it yesterday, but neither Oaks nor Minor International (known as MINT) has made any statement on this acquisition. The consideration wasn’t disclosed.

Ms Oh’s business, through Metropolis Hotel Apartments NZ Ltd, Metropolis Serviced Apartments Ltd & Metro Suites Ltd, was far smaller than the original hotel management contract to Ascott Group, a subsidiary of CapitaLand Ltd of Singapore.

Ascott ran the hotel from the building’s opening in 1999 until the body corporate terminated its contract in 2008. The body corporate installed Millennium Hotels & Resorts on a 3-month contract, which Millennium didn’t renew.

The Minor group’s hotel business started in 1978 as Royal Garden Resorts when it acquired a hotel on the Pattaya beachfront which had 30 bungalows & 27 rooms, since expanded to 295 rooms. The group has grown its portfolio to 155 hotels in 32 countries, 1900 restaurants & 300 retail trading outlets. Its mixed-use business operates spas, shopping plazas & entertainment outlets, residential properties and a points-based vacation club. The parent company is listed on the Thailand Stock Exchange. In its last accounts, for 2015, It had net equity of $NZ1.55 billion and total assets of $NZ4.2 billion.

Minor bought the Oaks hotel chain in Australia in 2011, including its New Zealand interests – 3 hotel operations in apartment buildings in Auckland and 2 in Queenstown.

Links:
Oaks Hotels & Resorts
Minor Hotels
Minor International

Earlier stories:
23 March 2011: Bangkok hotelier Minor to bid for whole of Oaks
18 March 2011: Oaks founder sacked as receivers put his shares up for sale
22 May 2008: Ascott’s Metropolis contract terminated, Millennium takes over short-term

Attribution: Overseas Investment Office, Companies Register, Oaks, Minor.

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Metropolis & Heritage Farmers units sell

Units in the Metropolis (pictured) & Heritage Farmers were sold under the hammer yesterday at Ray White City Apartments’ final auction of the year. A large apartment in Hobson Gardens was passed in.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 906:
Features: 48m², one bedroom
Outgoings: rates $1265/year including gst; body corp levy $4478/year
Income assessment: $490/week, fixed until March
Outcome: sold for $430,000
Agents: Damian Piggin & Daniel Horrobin

Victoria Quarter

Heritage Farmers, 35 Hobson St, unit 624:
Features: 48m², one bedroom, parking space, out of hotel pool
Outgoings: rates $1151/year including gst; body corp levy $7083/year, special levy of $6860 due by 31 March
Income assessment: $450/week, fixed until March
Outcome: sold for $360,000
Agents: Damian Piggin & Daniel Horrobin

Hobson Gardens, 205 Hobson St, unit 4K:
Features: 120m², 2 bedrooms, 2 bathrooms, secure parking space
Outgoings: rates $1848/year including gst; body corp levy $4380/year
Outcome: passed in at $695,000
Agents: Dominic Worthington

Attribution: Auction.

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6754/m² for Great North Rd site

A Great North Rd corner property fetched $6754/m² at Barfoot & Thompson’s auction yesterday, and 3 of the 5 apartments were sold (one of them listed outside the apartments-specific session).

Commercial

Isthmus west

Grey Lynn

376 Great North Rd:
Features: 570m² corner site, 810m² floor area – 438m² ground-floor showroom, 372m² basement, 54m² canopy
Outcome: sold vacant for $3.85 million at $6754/m² of land
Agent: Grant Magill

Apartments

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2302:
Features: 52m², one bedroom
Outcome: passed in at $430,000, back on market at $525,000
Agents: Aaron Cook & Betty Shao

Learning Quarter

Darlinghurst, 50 Eden Crescent, unit 1C:
Features: 54m², one bedroom, storage locker
Outcome: passed in at $405,000
Agents: Estee Zeng & Sarah Garlick

18 Wakefield St, unit 3H:
Features: 123m², 2 bedrooms, 2 bathrooms, parking space
Outgoings: body corp levy $4102/year
Outcome: sold for $700,000
Agents: Stephen Chang

Victoria Quarter

Harvard, 147 Hobson St, unit 10P:
Features: 3 bedrooms, balcony
Outcome: sold for $486,000
Agents: Livia Li & Alan Guo

Isthmus east

Newmarket

8 Clayton St, unit 23:
Features: one bedroom, tandem parking
Outgoings: rates $1283/year including gst; body corp levy $3221/year
Outcome: sold for $450,000
Agents: Stephen Shin & Casey Chen

Attribution: Auctions.

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Suburban units sell

2 units in Herne Bay (pictured) & Pt Chevalier and a double offering of an apartment & studio in the Bianco off Queen in the cbd were sold at Bayleys’ residential auction on Wednesday.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2312:
Features: 2 bedrooms, storage locker, parking space
Outgoings: rates $1912/year including gst; body corp levy $9212/year
Outcome: passed in at $775,000
Agents: Julie Prince & Diane Jackson

Uptown

Bianco off Queen, 8 White St, unit 6A:
Features: 2 apartments on one title, one of 2 bedrooms and the other a studio, secure parking space
Outgoings: body corp levy $9092/year
Outcome: sold for $650,000
Agents: Dave Hamlyn & Walter Thompson

Waterfront

148 Quay St, unit 11C:
Features: 3 bedrooms, 3 bathrooms, secure parking space
Outgoings: rates $3597/year including gst; body corp levy $12,307/year
Outcome: passed in (vendor bid at $1.2 million)
Agents: Julie Prince & Diane Jackson

Isthmus east

St Heliers

24 Auckland Rd, unit 4:
Features: cross-lease, 1/6 share in 834m², 2 bedrooms, parking space
Outgoings: rates $2578/year including gst
Outcome: passed in at $950,000
Agents: Chris Reeves

Isthmus west

Herne Bay

2 Herne Bay Rd, unit 4:
Features: cross-lease, 1/8 share in 645m², one-bedroom unit
Outcome: sold for $800,000
Agents: Chris Batchelor

Pt Chevalier

209A Pt Chevalier Rd:
Features: cross-lease, half share in 673m², 2-bedroom unit
Outcome: sold for $764,000
Agents: Murray Savage

North-west

Henderson

16 Frank Evans Place, unit 1:
Features: cross-lease, half share in 915m², 2-bedroom townhouse, covered deck, lockup carport
Outcome: no bid, back on market at $529,000
Agents: Jeannette Young-Smith & Richard Cadness

Te Atatu South

132 Edmonton Rd, unit 3:
Features: cross-lease, 1/3 share in 1297m², 3 bedrooms, parking space
Outcome: passed in at $650,000
Agents: Jock Kooger & Lisa Girvan

Attribution: Auction.

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2 apartments & suburban cross-lease sell

An apartment in the Kitchener St Studios (pictured), another in the Empire on Whitaker Place and a cross-leased property in Sandringham sold under the hammer at Bayleys’ residential auction yesterday.

CBD

Kitchener St

Kitchener St Studios, 22 Kitchener St, unit 4A:
Features: one-bedroom apartment, exposed brick walls, high stud, balcony, storage locker, secure basement parking space
Outgoings: rates $1620/year including gst; body corp levy $4496/year
Outcome: sold for $668,000
Agents: Julie Prince & Diane Jackson

Learning Quarter

Empire, 23 Whitaker Place, unit 1014:
Features: 52m², 3 bedrooms, in managed pool until 2026
Outgoings: rates $1202/year including gst; body corp operating levy $4961/year, share of building repairs estimated in range of $25-50,000
Income assessment: net rent just under $13,000/year
Outcome: sold for $137,000
Agent: Andrew Bond

Isthmus west

Grey Lynn

7A Sackville St:
Features: cross-lease, half share in 627m², 4 bedrooms, 2 bathrooms
Outcome: no bid
Agents: Robyn Clark & Melissa Greenough

Sandringham

26A Fergusson Avenue:
Features: cross-lease, half share in 668m², 3 bedrooms, deck, internal-access garage
Outcome: sold for $878,000
Agents: Summer Sun & Kalala Lavea

Attribution: Auction.

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2 Harvard units among 4 apartment sales

2 apartments in the Harvard on Hobson St (pictured) were among the 4 units sold at Ray White City Apartments’ auction today.

The others were in the Eclipse on Vincent St & Alpha on Vogel Lane. Units in the Heritage Tower, Metropolis & Volt were passed in.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2510:
Features: 42m², one bedroom
Outgoings: rates $1354/year including gst; body corp levy $6037/year
Income assessment: $500-550/week furnished
Outcome: passed in at $465,000
Agents: Damian Piggin & Daniel Horrobin

Uptown

Volt, 430 Queen St, unit 1517:
Features: 40m², fully furnished 2 bedrooms
Outgoings: rates $1202/year including gst; body corp levy $4662/year
Income assessment: $460/week, fixed until 15 January
Outcome: passed in at $300,000
Agents: Damian Piggin & Daniel Horrobin

Eclipse, 156 Vincent St, unit 8i:
Features: 41m², one bedroom
Outgoings: rates $1189/year including gst; body corp levy $3157/year
Income assessment: $430-450/week
Outcome: sold at the pre-auction offer of $395,000
Agents: Dusan Valenta & Adele Keane

Victoria Quarter

Harvard, 147 Hobson St, unit 3A:
Features: 50m², 4 bedrooms, parking space
Outgoings: rates $1253/year including gst; body corp levy $6414/year
Income assessment: fixed at $440/week until 15 February, appraisal of $7-800/week furnished
Outcome: sold for $440,000
Agents: Damian Piggin & Daniel Horrobin

Harvard, 147 Hobson St, unit 11J:
Features: 38m², 2 bedrooms
Outgoings: rates $1164/year including gst; body corp levy $4198/year
Income assessment: $435/week, fixed until June 2017
Outcome: sold for $300,000
Agents: James Mairs & Dominic Worthington

Heritage Tower, 22 Nelson St, unit 1213:
Features: 34m² fully furnished studio
Outgoings: rates $1075/year including gst; body corp levy $4904/year including Sky TV, water & gas
Income assessment: $450-460/week furnished
Outcome: passed in at $275,000
Agents: Ryan Bridgman & Mitch Agnew

Alpha, 17 Vogel Lane, unit 105:
Features: 37m², one bedroom, parking space
Outgoings: rates $1113/year including gst; body corp levy $2308/year
Income assessment: $440-500/week furnished
Outcome: sold for $390,000
Agents: Krister Samuel

Attribution: Auction.

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Hooker apartments agency sells 2 at first auction

LJ Hooker’s central Auckland apartments agency, opened last month by former Ray White City Apartments agent Donald Gibbs, held its first auction yesterday.

2 of the 6 apartments were sold under the hammer.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1906:
Features: one bedroom, parking space
Outgoings: rates $1392/year including gst; body corp levy $5944/year
Outcome: sold for $500,000

Victoria Quarter

Marina Park, 146 Fanshawe St, unit 32:
Features: one bedroom, parking space
Outgoings: rates $1287/year including gst; body corp levy $8237/year
Outcome: passed in at $470,000

Isthmus east

Parnell

Stonemason’s, 27 Falcon St, unit 3E:
Features: one bedroom, parking space
Outgoings: rates $1704/year including gst; body corp levy $3038/year, long-term maintenance $491/year
Outcome: sold for $503,000

Isthmus west

Eden Terrace

Fleetwood, 19 Fleet St, unit E5:
Features: 2 bedrooms, parking space
Outgoings: rates $1524/year including gst; body corp levy $3550/year
Outcome: passed in at $710,000

Montpellier Square, 30 Randolph St, unit 2H:
Features: one bedroom, 2 parking spaces
Outgoings: rates $1220/year including gst; body corp levy $2993/year
Outcome: passed in at $490,000

Mt Eden

39 Mt Eden St, unit 8:
Features: 2 bedrooms, parking space
Outgoings: rates $1906/year including gst; body corp levy $4810/year
Outcome: passed in at $650,000

Attribution: Auction.

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