Archive | Lorne St

2 studios & corner unit sell

All 3 apartments auctioned at Ray White City Apartments yesterday – studios in Oakwood Hall & the Precinct (pictured) and a Zest corner unit – were sold under the hammer.

A commercial space in the Summit on Symonds, containing 3 storage lockers and leased to the body corporate, was passed in.

CBD

Learning Quarter

Summit on Symonds, 103 Symonds St, unit 14:
Features: 40m², contains 3 storage lockers, on 21-year lease to body corporate manager
Rent: $15,000/year + gst + outgoings
Outgoings: rates $1050/year including gst; body corp levy $1093/year
Outcome: passed in at $232,000 + gst
Agents: Jasmine Yao

Oakwood Hall, 81 Wakefield St, unit 14C:
Features: 29m² studio
Outgoings: rates $1101/year including gst; body corp levy $2311/half-year
Income assessment: $380-420/week
Outcome: sold for $283,000
Agents: Krister Samuel & Craig Warburton

Lorne St

Precinct Residences, 6 Lorne St, unit 908;
Features: 21m², furnished studio, balcony
Outgoings: body corp levy $1871/year
Income assessment: $350/week fixed until August, assessment $375-390/week furnished
Outcome: sold for $300,000
Agents: Judi & Michelle Yurak

Victoria Quarter

Zest, 72 Nelson St, unit 1128:
Features: 48m² corner apartment, part-furnished 2 bedrooms, 2 bathrooms, balcony, parking space
Outgoings: rates $1278/year including gst; body corp levy $5232/year after 10% prompt payment discount
Outcome: sold for $405,000
Agents: Victor Liu

Attribution: Auction.

Continue Reading

3 central apartments sell

The 3 central city apartments sold under the hammer at Ray White City Apartments’ auction yesterday were a mix – a luxury residence in the Precinct (pictured), high above Lorne St, a leasehold unit in Q Central at the top of Queen St, and a studio in the Fiore on Hobson St. In contrast to the competition for them, a unit in Kingsland attracted only one bid.

CBD

Lorne St

Precinct Residences, 6 Lorne St, unit 801:
Features: 140m², 3 bedrooms, 2 bathrooms, parking space
Outgoings: rates $2241/year including gst; body corp levy $7669/year
Outcome: sold for $1.325 million
Agents: Tanya Kwasza & Marie Graham

Uptown

Q Central, 54 Liverpool St, unit 7B:
Features: leasehold, 59m², 2 bedrooms
Outgoings: rates $1582/year including gst; body corp levy $3549/year, ground rent $7642/year
Income assessment: $550-580/week
Outcome: sold for $125,000
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Victoria Quarter

Fiore on Hobson, 152 Hobson St, unit 204:
Features: 30m² fully furnished studio, 5m² balcony, parking space
Outgoings: rates $1240/year including gst; body corp levy $2867/year
Income assessment: $420-460/week furnished; parking space currently rented at $60/week
Outcome: sold for $360,000
Agents: Mitch Agnew & Krister Samuel

Isthmus west

Kingsland

9 Don Croot St, unit 1:
Features: 48m², part-furnished 2 bedrooms, parking space
Outgoings: rates $1349/year including gst; body corp levy $2007/year
Income assessment: $480-520/week
Outcome: passed in after one bid at $450,000 & vendor bid at $500,000
Agents: Mitch Agnew & Ryan Bridgman

Attribution: Auction.

Continue Reading

Precinct & Hargreaves apartments sell

Both apartments auctioned at Ray White City Apartments today sold under the hammer – one near the top of the 34-storey Precinct tower on Lorne St (pictured) and the other overlooking Victoria Park from Hargreaves St.

CBD

Lorne St

Precinct, 6 Lorne St, unit 2804:
Features: 80m², 2 bedrooms, both with ensuite, 24m² of balconies, secure basement parking space
Outgoings: rates $2558/year including gst; body corp levy $8830/year
Income assessment: $900-950/week furnished
Outcome: sold for $1.3 million
Agents: Judi & Michelle Yurak

Isthmus west

St Marys Bay

Hargreaves, 21 Hargreaves St, unit 4F:
Features: 90m², 2 bedrooms, 2 bathrooms, covered balcony, 2 secure parking spaces, in the final stages of a comprehensive maintenance programme
Outgoings: rates $1802/year including gst; body corp levy $9179/year
Income assessment: $550/week current
Outcome: sold for $500,000
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Attribution: Auction.

Continue Reading

Uptown project, name change & paid parking zone on local board agenda

The Waitemata Local Board will consider some sensitive issues on Tuesday, and some aimed at introducing business innovation to Eden Terrace and traffic around Ponsonby & Grey Lynn.

Uptown innovation project

The board has a proposal before it to advance development of the uptown innovation project aimed at cultivating an innovation community in Eden Terrace. The project is being led by the Uptown Business Association, in partnership with the Waitemata Local Board and Ateed (Auckland Tourism, Events & Economic Development).

The board has been asked to contribute $6000 from its local economic development budget for a scoping study & implementation plan. Ateed will pay the other half.

Scoping will be in terms of tenant mix, area branding, long-term value creation, activation options & costs.

The scoping report back to the local board, in June, will be in time to allow the project’s inclusion in the board’s 2016-17 local economic development programme.

The Eden Terrace initiative is focused on a small commercial area in the Uptown business improvement district bounded by Nikau, Ruru & Shaddock Sts (between New North Rd & the Mt Eden railway station). However, the authors of the report to the board – principal innovation & entrepreneurship advisor Anthony Gibbons and local economic development strategic planner John Norman – said outcomes were expected to impact more widely.

“All the buildings within the specified area are owned by Auckland Transport and are currently designated for demolition by the end of 2017 as part of the city rail link project. The project’s short-term focus is to tenant the buildings with innovation-related entities aimed at establishing an innovation community, or hub, and laying the foundations for longer-term economic benefit for Uptown & wider Auckland.”

The authors said factors contributing to the area’s appeal to prospective tenants included:

  • proximity to tech/innovation-oriented businesses
  • positive vibe/feel of the area
  • central location, good accessibility
  • good local amenities – parking, local cafes, and
  • lower rent – allowing focus & investment in innovation programmes & activities.

“Properties within the area comprise a mixture of warehouse & office space. As existing tenants vacate the properties ahead of the rail link construction start date, Ateed & Auckland Transport have worked together to identify replacement tenants aligned to the innovation focus. To date, 3 new high-value tenants have been placed as a result of the collaboration:

  • The Icehouse, curators of the Auckland Lightning Lab startup acceleration programme
  • Industry Connect, preparing ICT graduates with work-ready skills, and
  • Enspiral, providing networks, support & training for tech startups.

“2 co-working facilities, Shared Space & The Collective, have also established a presence in the area. The total group represents a fledgling community of innovators upon which to construct an active support programme.”

According to the board report, 2 properties are vacant, 3 more are due to come free by 1 May and others will be vacated throughout the wind-down period to work starting on the rail link. At least 2 other properties within the business improvement district, but outside the project area of focus owned by Auckland Transport, were also available.

The report authors said the initiative had the potential to deliver both short- & long-term value, and could offer opportunities for Maori participation. In the near term:

  • maintaining commercial tenancy & existing economic activity in the area
  • developing a unique & newly vibrant micro-economy
  • establishing a new community of innovation-focused entities, with potential spillover benefits for surrounding businesses & the wider city fringe
  • proving the concept & refining the model.

In the longer term:

  • establishing a potentially enduring innovation brand for Uptown
  • catalysing the attraction of new, innovation-rich enterprises to the area
  • laying the foundations for potentially longer-term economic rejuvenation.

The authors said the project had received strong support at the local board’s 22 March workshop.

Links:
16, Uptown innovation project: Scoping study & implementation plan
Uptown innovation project map

Khartoum Place

One of the sensitive issues concerns a proposal to rename the lower portion of Khartoum Place – the small, now far more popular square fronting Lorne St.

Khartoum Place & its suffragette memorial have been subject to many proposals in recent years, including complete redesign eliminating the suffragette memorial. The proposal before the board on Tuesday is to approve the methodology for obtaining options for potential renaming, so some way short of producing a definite name or even changing the name at all.

The aim of the renaming project is to achieve the potential renaming by Suffrage Day on 19 September.

Among the criticisms of Khartoum Place were that it was cold, gloomy & uninviting, which it was before the last makeover. One change was to introduce street furniture, so people have somewhere to sit at lunchtime, and the other was the redevelopment of one of the square’s neighbours, the former New Art Gallery on the corner of Lorne & Wellesley St East, into the X Gallery. This remodelling by Metropolis developer Andrew Krukziener took 3 years, was completed last year and the reinvigorated building was sold to a Chinese investor for about $25.4 million.

The building was stripped out, small stores & a café opened on the ground floor and the upper 2 levels modernised. The redevelopment project is among nominees in the heritage & adaptive reuse section of the Property Council’s national awards, and also in the awards’ commercial office section. The award winners will be announced on Friday 17 June.

Link:
17, Approval for renaming of Lower Khartoum Place

Capital projects

The board considered 6 projects to use its remaining $241,651 of capital funds for transport projects this financial year, and an Auckland Transport assessment has recommended considering 2 of them. It can also add this money to its $470,000 capital allocation for the next financial year.

The 2 recommended for consideration:

  • Parnell Station connection to Nicholls Lane, the local board & Auckland Transport would commit about $350,000 each to join the new station to Nicholls Lane, and
  • Path under Victoria Park Viaduct (enhancements).

The others, not recommended now for various reasons, were:

  • Sale St streetscape enhancement
  • Parnell Baths road, safety improvements
  • Augustus Terrace steps
  • Scotland St amenities.

Streetscape & paid parking zone

The board & Auckland Transport have just finished consultation on Pt Chevalier-city cycle improvements, and on progressive changes along Ponsonby Rd & Williamson Avenue, and feedback on making the area around Ponsonby Rd a paid parking zone closes on Friday 22 April.

Proposed street works include raising tables at 8 side streets and installing a central island on Mackelvie St. The net parking gain, depending on the option, would range from 8-14. Auckland Transport adopted option 2, with some proposed minor changes to the plantings in Mackelvie St.

Auckland Transport envisages rationalising parking restrictions in the area down from 35 to 1, and reducing congestion from vehicles circling in the vein hope of finding a park. The proposal includes a review of loading zones & taxi stands.

Links:
Waitemata Local Board, Tuesday 12 April at 6pm, Parnell, Jubilee Hall, 545 Parnell Rd:
13 Auckland Transport report
Mackelvie St plan
Ponsonby paid parking zone – newsletter
15, Bonus floor provisions & through-site link report
16, Uptown innovation project: Scoping study & implementation plan
Uptown innovation project map
17, Approval for renaming of Lower Khartoum Place

Attribution: Board agenda.

Continue Reading

Updated: Strong bidding at Ray White apartments auction

Updated 8 April 2016
8 apartments were sold under the hammer at Ray White City Apartments’ auction today out of 10 properties listed, amid at times hectic bidding. [Update 8 April: Zest unit 703 has parking space, not mentioned when initially posted].

Bidding was strong for properties that have had leaky issues remediated, and also for one where that work is underway.

In general, city centre apartment prices have appreciated in the last year, in some cases by thousands of dollars/m², filling the gap between $7000/m² last year for stock of reasonable quality and the starting point for new apartments selling off the plan, $10,000 (for some new apartments, the price level has since risen to $15,000/m²).

A one-bedroom upper-level apartment in the Precinct on Lorne St (pictured) went for $12,000/m² today, one bedroom in the remediated Columbia on Nelson at the foot of Nelson St for about $7500/m² net of parking, and units in Altitude, the Aucklander & Bianco off Queen fitting in between.

CBD

Learning Quarter

The Crescent, 7 Eden Crescent, unit 201:
Features: 59m², 2 bedrooms, study, balcony, parking space
Outgoings: rates $1584/year including gst; body corp levy $8361/year for unit, $1197 for parking
Outcome: passed in at $480,000
Agents: Damian Piggin & Daniel Horrobin

The Aucklander, 25 Rutland St, unit 13D:
Features: 27m² studio
Outgoings: rates $1027/year including gst; body corp levy $5772/year
Outcome: sold for $262,000
Agent: Gillian Gibson

96 on Symonds, 96 Symonds St, unit 607:
Features: 54m², 3 bedrooms, balcony
Outgoings: rates $1138/year including gst; body corp levy $5536/year
Income assessment: $290/week, under management lease with Master Property Management Ltd
Outcome: sold for $301,000
Agents: Victor Liu

Cintra, 3 Whitaker Place, unit 15B:
Features: 57m², 2 levels, one bedroom, remediation project underway
Outgoings: rates $1673/year including gst; body corp levy $4679/year
Income assessment: in hotel lease; appraisal $430-480/week
Outcome: sold for $235,000
Agent: James Mairs

Lorne St

Precinct, 6 Lorne St, unit 1901:
Features: 44m², fully furnished one bedroom
Outgoings: rates $1434/year including gst; body corp levy $4183/year
Outcome: sold for $531,000
Agents: May Ma & Mark Li

Uptown

Bianco off Queen, 8 White St, unit 8C:
Features: 54m², 2 bedrooms, wheelchair-friendly bathroom
Outgoings: rates $3356/year including gst; body corp levy $6467/year
Outcome: sold for $503,500
Agents: Donald Gibbs & Liam Kyle

Victoria Quarter

Altitude, 34 Kingston St, unit 13D:
Features: 40m², 2 bedrooms, deck
Outgoings: rates $1101/year including gst; body corp levy $4233/year
Income assessment: $395/week current
Outcome: sold for $346,000
Agents: May Ma & Mark Li

Columbia on Nelson, 15 Nelson St, unit 3U:
Features: 52m², one bedroom, parking space, storage locker; building recently reclad
Outgoings: rates $817/year including gst; body corp levy $3113/year
Income assessment: $520-540/week furnished
Outcome: sold for $469,500
Agents: Damian Piggin & Daniel Horrobin

Updated: Zest, 72 Nelson St, unit 703:
Features: 37m², 2 bedrooms, balcony, parking space (not mentioned when report initially posted)
Outgoings: rates $1163/year including gst; body corp levy $4375/year
Income assessment: $490-530/week
Outcome: passed in at $395,000
Agents: Judi & Michelle Yurak

Isthmus east

Parnell

37 Cotesmore Way, unit D7:
Features: leasehold, 3-level townhouse, 111m², 2 bedrooms, 2 bathrooms, 2 parking spaces
Outgoings: rates $1299/year including gst; body corp levy $9782/year
Income assessment: $680-720/week
Outcome: sold for $375,000
Agents: Donald Gibbs & Liam Kyle

Attribution: Auction.

Continue Reading

9 units sell at Barfoots auction

9 “intensive living” units – apartments, townhouses, suburban units & cross-leases – were sold at Barfoot & Thompson’s auction yesterday out of 14 offered. The auction of one unit was postponed.

CBD

Albert St

17 Albert St, unit 5C:
Features: 112m², 3 bedrooms
Outcome: auction postponed
Agents: Annie Xu & Sean Zhang

Lorne St

Precinct, 6 Lorne St, unit 2104:
Features: one bedroom, balcony, parking space
Outcome: sold for $621,000
Agents: Estee Zeng & Sarah Garlick

Quay Park

The Docks, 4 Dockside Lane, unit 512:
Features: leasehold, one bedroom, oversized deck, covered parking space
Outcome: sold for $245,000 at mortgagee auction
Agents: Philip Davis & Paul Humphries

Victoria Quarter

18 Hobson St, unit 6A:
Features: 75m², 2-bedroom apartment, deck, building reclad & upgrade nearing completion and vendor will pay balance of levy
Outcome: sold for $371,000
Agents: Wendy Feng & Jack Li

Nautilus, 18 Hobson St, unit 6B:
Features: 88m², 2-bedroom corner apartment, deck, building reclad & upgrade nearing completion and vendor will pay balance of levy
Outcome: sold for $450,000
Agents: Wendy Feng & Jack Li

Waterfront

152C Quay St:
Features: 355m² including large decks, 122m² living space, single-level apartment, 2 bedrooms, 2 offstreet parking spaces, exclusive lift access
Outcome: sold for $2.035 million
Agents: Livia Li & Alan Guo

Isthmus east

Glendowie

1B Pembroke Crescent (also known as 2/1):
Features: brick unit, 2 bedrooms, garage
Outcome: sold for $785,000
Agents: Wayne McCarthy & Trevor Wyness

Meadowbank

226 Gowing Drive, unit 2:
Features: one-bedroom brick unit, deck, carport
Outcome: no bid
Agents: Brett Innes & Neno Radinovich

Mission Bay

85B Atkin Avenue:
Features: 3 bedrooms, 2-car garage, 2 offstreet parking spaces
Outcome: sold for $850,000
Agents: Patrick Hodgson & Cindy Jin

Orakei

159 Paritai Drive, unit 1:
Features: brick & tile unit, 2 bedrooms, basement garage
Outcome: sold for $900,000
Agents: Lynette Boyd

Parnell

10B Ayr St:
Features: 3-bedroom standalone townhouse, 2 bathrooms, double garage, plaster cladding “may need work”
Outcome: sold for $860,000
Agents: Jill Jackson & Emma John

Parnell Green, 27 Birdwood Crescent, unit 26:
Features: standalone 2-level townhouse, 2 bedrooms, study, deck, carport
Outcome: no bid
Agents: Jill Jackson & Emma John

Isthmus west

Avondale

76 Riversdale Rd, unit 9:
Features: cross-leased unit, one-third share in 2706m², 2-bedroom unit, fenced back yard
Outcome: passed in at $470,000
Agent: Rosemary Giborees

29 Wingate St, unit 1:
Features: concrete block & weatherboard unit, 2 bedrooms, deck, garage, basement storage
Outcome: passed in
Agents: Alex Shin

North-west

Glen Eden

125 Glendale Rd, unit 2:
Features: cross-lease, half share in 1312m², 160m² interior, 4 bedrooms, rear deck, private garden, double garage, 4 offstreet parking spaces
Outcome: no bid
Agents: Alex Wu & Anna Lechtchinski

Attribution: Auctions.

Continue Reading

3 units, a cross-lease & a warehouse sell at Barfoots

Barfoot & Thompson’s Wednesday auctions had up to 80 properties on offer at 4 sessions at the peak a few weeks ago. This week, that list still had 59 properties on it (excluding withdrawals, including a couple of commercial premises), offered in 3 sessions, and 21 were sold either under the hammer prior or post-auction.

I’ve been noting the many cross-leased properties auctioned at Barfoot & Thompson, but don’t have those details from the morning auctions on Wednesday, reducing the number of properties mentioned below. I’ve listed only the apartments, townhouses & suburban units from the morning session, but have included cross-leases from the afternoon.

The other thing I’ve done is my usual cataloguing by suburb. An office (auction postponed) and a warehouse (sold vacant) were also on the auction list.

Commercial

CBD

Albert St

17 Albert St, unit 5A:
Features: 230m² office
Outcome: auction postponed
Agents: Wayne Muir & Jane Tang

Isthmus west

Avondale

30 Rosebank Rd:
Features: 154.5m², standalone warehouse, 15m height limit set to rise to 20m under proposed unitary plan
Outcome: sold for $617,500
Agents: Chris Peterson & Reese Barragar

Residential

CBD

Learning Quarter

Block 7, 39 Anzac Avenue, unit 203:
Features: 2 bedrooms, building seismically strengthened
Outcome: passed in, back on market at $725,000
Agents: Stephen & Leo Shin

Lorne St

Precinct, 6 Lorne St, unit 1402:
Features: 71m² internal, 46m² balcony, 2 bedrooms, 2 bathrooms, secure parking space
Outgoings: rates $2249/year including gst; body corp levy $7958/year
Outcome: passed in, sold post-auction
Agents: Kelly Zhang & Kevin Sun

Uptown

Bianco off Queen, 2 White St, unit 10G:
Features: 2 bedrooms, balcony, parking space
Income assessment: previously rented at $700/week
Outcome: passed in
Agents: Annie Xu

Isthmus east

Epsom

7 Tahuri Rd, unit 1:
Features: cross-lease, half-share in 1123m², 5 bedrooms, 3 bathrooms, attic, study, deck, double garage, 3 offstreet parking spaces
Outcome: passed in, back on market at $2.25 million
Agents: Diana Buczkowski & Peter West

Glendowie

4 Sierra St, unit 1:
Features: 2 bedrooms, carport, storage unit
Outcome: sold for $620,000
Agents: Lynette Boyd

Kohimarama

17 & 17A Sprott Rd:
Features: 2 cross-leased units on 892m², each of 2 bedrooms, lockup garage
Outcome: passed in
Agents: Cindy Jin

One Tree Hill

2A Ewenson Avenue, unit 5:
Features: 2 bedrooms, carport
Outcome: passed in
Agents: Jane Wang & Dragon Zhou

Orakei

6 Paritai Drive, unit 1:
Features: 3-bedroom apartment, 3 bathrooms, covered balconies, 2-car garage
Outcome: no bid
Agents: Leila MacDonald & Paul Barnao

Parnell

Farnham Terraces, 8 Farnham St, unit AB:
Features: 2 bedrooms, carport, storage locker
Outcome: sold for $751,000
Agents: Jason Li

Glenross, 5 Sarawia St, unit 7:
Features: 3 bedrooms, garage
Outcome: no bid
Agents: Alex Baker

Remuera

196 Victoria Avenue, unit 2:
Features: cross-lease m², 4 bedrooms, 3 bathrooms, patio, deck
Outcome: sold for $1.48 million
Agents: Zheng Fang & George Fong

St Johns

1 Tisdall Crescent:
Features: m², 2 bedrooms, parking space
Outcome: sold for $705,000
Agents: Sam Bowen

Isthmus west

Mt Roskill

18A Subritzky Avenue:
Features: cross-lease, half share in 885m², 3 bedrooms, 2 bathrooms, internal-access double garage, offstreet parking
Outcome: passed in at $720,000
Agents: Yali Zhu

Westmere

70 Wellpark Avenue, unit 2:
Features: cross-lease, one-fifth share in 1550m², 1480m² townhouse, 3 bedrooms, 2 bathrooms, internal-access double garage, offstreet parking space
Outcome: no bid
Agents: Matt O’Brien & Ashley Tait

Attribution: Auctions.

Continue Reading

14 “intensive living” units, 2 sections & a showroom sell at Barfoots

12 the 32 “intensive living” properties on Barfoot & Thompson’s auction list on Wednesday were sold at the auction, one prior and one post.

2 sections targeted for their land were sold, one on Point View Drive above Flat Bush and the other in Mt Roskilll, and a showroom/warehouse property in New Lynn was sold. The land & commercial properties are at the foot of this report.

CBD

Federal St

The Federal, 207 Federal St, unit 406:
Features: 2-bedroom apartment
Outgoings: body corp levy $4892/year
Outcome: passed in
Agents: Stephen Shin & Yasu Ka

Learning Quarter

Waldorf Celestion, 19 Anzac Avenue, unit 1305:
Features: 2-bedroom apartment
Outgoings: body corp levy $4388/year
Outcome: no bid
Agents: Jason Buckwell

Tower Hill, 1 Emily Place, unit 11D:
Features: one-bedroom apartment, secure parking space, storage locker
Outgoings: body corp levy $3426/year
Outcome: sold for $623,000
Agents: Livia Li & Alan Guo

Silo, 23 Emily Place, unit 9J:
Features: studio, balcony
Outgoings: body corp levy $760/year
Outcome: no bid
Agents: Annie Xu & Sean Zhang

Lorne St

Lorne St Lofts, 4 Lorne St, unit 2G:
Features: one-bedroom apartment
Outgoings: body corp levy $5295/year
Outcome: sold for $442,500
Agents: Rita Herceg & Alastair Brown

Uptown

Meridian, 11 Howe St, unit 1F:
Features: studio
Outgoings: body corp levy $2353/year
Outcome: no bid
Agents: Stephen & Leo Shin

Victoria Quarter

Fiore, 152 Hobson St, unit 408:
Outcome: sold prior
Agents: Stephen Shin & Yasu Ka

Hobson Gardens, 205 Hobson St, unit 8H:
Features: 3-bedroom apartment
Outcome: auction postponed
Agents: Stephen Shin & Yasu Ka

Harbour Green, 11 Union St, unit 807:
Features: 2-bedroom apartment, balcony
Outgoings: body corp levy $4666/year + $3247 remediation levy (paid); leaky claim on hold because builder is in liquidation
Outcome: no bid
Agents: Livia Li & Alan Guo

Isthmus east

Epsom

116 The Drive or 41 Empire Rd, unit 2 either way:
Features: 3-bedroom unit, outdoor area, deck
Outcome: withdrawn from auction
Agent: Robert Thompson

Glendowie

43 Karaka Park Place:
Features: cross-lease, one-third share in 1882m², 4 bedrooms, study, outdoor area, tennis court, double garage
Outcome: passed in
Agents: Grant Marshall

123 Riddell Rd, unit 3:
Features: cross-lease, one-third share in 1075m², 2-bedroom unit, deck, lockup garage
Outcome: sold for $710,000
Agents: Margot Torrance

Meadowbank

44 Hawkins St:
Features: cross-lease, one-third share in 834m², 4 bedrooms, double internal-access garage
Outcome: sold for $900,000
Agents: Maree Church

Mt Wellington

11 Burt Rd, unit 2:
Features: cross-lease, one-third share in 890m², 3 bedrooms, deck, single garage
Outcome: no bid
Agents: Jane Wang & Dragon Zhou

172 Ireland Rd:
Features: cross-lease, half share in 809m², 2 bedrooms, deck, outdoor area
Outcome: no bid
Agents: Mike Dolan

12 Motu Place, unit 1:
Features: 2-bedroom unit, deck, carport
Outcome: sold for $610,000
Agents: Alex Wu & Ben Feng

Onehunga

10 Inkerman St, unit 2:
Features: 2-bedroom unit, carport
Outcome: sold for $635,000
Agent: Dennis Law

Parnell

26B Takutai St:
Features: 3 bedrooms, deck, double garage & offstreet parking
Outgoings: body corp levy $1428/year
Outcome: sold for $1.4 million
Agents: Silvia Poletti

22 Windsor St:
Features: cross-lease, quarter share in 683m², townhouse, 3-4 bedrooms, deck, internal-access garage
Outcome: passed in
Agents: Jill Jackson

Remuera

16 Belmont Terrace, unit 5:
Features: cross-lease, one-20th share in 1135m², one-bedroom apartment
Outcome: sold for $434,000
Agents: Sarah Garlick & Estee Zeng

90 Remuera Rd, unit 16:
Features: 2-bedroom apartment
Outcome: passed in
Agents: Rick Thevenard & Leonie Stabler

90 Remuera Rd, unit 18:
Features: 2-bedroom apartment
Outcome: sold post-auction
Agents: Rick Thevenard & Leonie Stabler

St Heliers

91 Long Drive, unit 2:
Features: cross-lease, one-quarter share in 809m², 2-bedroom unit, internal-access garage + offstreet parking
Outcome: no bid
Agents: Helen Clelland

20B McArthur Avenue:
Features: cross-lease, half share in 1070m², 3 bedrooms, deck, double garage
Outcome: no bid
Agents: Sharlene Huang

St Johns

6 Lush Avenue, unit 5:
Features: cross-lease, one-sixth share in 1840m², 2-bedroom unit, front garden
Outcome: passed in
Agents: Mike Dolan

Isthmus west

Avondale

316 Blockhouse Bay Rd:
Features: 1765m² site, 9 units, each one-bedroom with courtyard, offstreet parking for 7 cars
Outcome: sold for $2.32 million
Agents: Sue Allan & Aken Yuan

Grey Lynn

Turing building, 2 Ariki St, unit GO7:
Features: 2-bedroom ground-floor apartment, balcony, storage
Outcome: no bid
Agents: Thornton & Felicity Scott

29 Scanlan St, unit M2:
Features: 2-bedroom apartment, deck, secure double offstreet parking
Outcome: sold for $615,000
Agents: Neil Dayal & Louise Stringer

The Surrey, 19 Surrey Crescent, unit 504:
Features: 2-bedroom apartment, balcony, secure parking
Outcome: sold for $910,000
Agents: Mike Dolan

Mt Albert

55 Sainsbury Rd, unit 5:
Features: m²,  bedrooms,
Outcome: withdrawn from auction
Agents: Duane Mullooly

Mt Eden

101 Balmoral Rd, unit 3:
Features: 2-bedroom unit, deck, internal-access garage + offstreet parking
Outcome: passed in
Agent: Alex Yang

22 Normanby Rd, unit 44:
Features: 2-bedroom apartment, study, secure parking space
Outcome: sold for $662,000
Agents: Ryan Harding & Matt O’Rourke

Land sales:

Isthmus west

Mt Roskill

14 Invermay Avenue:
Features: 828m² section, 1930s bungalow
Outcome: sold for $1.54 million
Agents: Repeka Lelaulu

South

East Tamaki

67 Point View Drive, lot 1:
Features: 800m² section
Outcome: sold for $1.005 million
Agents: Robben Li & Peter Young

Commercial:

North-west

New Lynn

26 Portage Rd, unit 1:
Features: 445m² site, showroom, office & warehouse with short-term tenant
Outcome: sold for $975,000
Agents: Neil Wooldridge & Peter Jeromson

Attribution: Auctions.

Continue Reading

2 residential projects among latest cbd deals

Gary Groves of Sanctuary Group Ltd will lead a local syndicate’s conversion to student accommodation of the Fonterra Co-operative Group Ltd’s headquarters on Princes St (pictured), Auckland.

It’s one 3 large commercial property transactions completed by Bayleys agent Colin McKenna, with manager of the agency’s commercial investment team Robert Platt.

The other 2 are sale of the Real Groovy site just above Mayoral Drive on Queen St to Conrad Properties Ltd for the Queens Square apartment development, and sale of Gallery X – the former New Art Gallery on the corner of Lorne & Wellesley St East. The gallery deal was struck in September, when the price was confidential.

The 3 deals are worth about $85 million.

The Fonterra building at 9 Princes St has been sold by interests associated with German investor Farhad Vladi for $45 million.

The Real Groovy shop at 438 Queen St sits on about 2000m² and has been sold for about $13.8 million by the local family which has held it for decades. Conrad 226 freehold strata title apartments & 9 boutique shops planned for its development.

Gallery X, at 18-26 Wellesley St East, has been revamped by Metropolis developer Andrew Krukziener over the last 3 years and sold to a Chinese investor for about $25.4 million, at a yield believed to be under 6%.

The building was stripped out, small stores & a café opened on the ground floor and the upper 2 levels modernised.

Fonterra will leave its Princes St headquarters next year for a new development on the corner of Fanshawe & Halsey Sts in the Wynyard Quarter by Goodman Property Trust, which has since sold the development into a joint venture with Singaporean sovereign wealth fund GIC.

In another Wynyard Quarter move, Bayleys Real Estate will take its Auckland headquarters 200m along Viaduct Harbour Avenue next June to new purpose-built premises on the corner of Gaunt & Halsey Sts, occupying 3 levels of a 6-storey building being developed by the ASX-listed Goodman Group. The new Bayleys offices will be across the street from the Microsoft & Hewlett Packard Building and the Sofitel hotel.

Bayleys has negotiated signage & naming rights for the building, which will have 8813m² of commercial space & 883m² of ground-floor food & beverage-focused outlets. Bayleys will occupy 3525m² and 70 of the 247 parking spaces.

The company has taken a 12-year lease, with 2 6-year rights of renewal. A law firm will occupy level 3. Levels 4 & 5 haven’t been leased yet.

Attribution: Agency releases.

Continue Reading

Landmarks & development sites among $70 million of sales

Bayleys Real Estate has sold 14 properties for nearly $70 million outside the auction process from its latest Total Property portfolio, launched in July.

They include Auckland landmarks such as the former New Art Gallery, now the X Gallery (above), on the corner of Lorne St & Wellesley St East, and Mollies boutique hotel in Herne Bay.

CBD

Eastern fringe

151 Beach Rd, on the eastern fringe of the cbd.

151 Beach Rd, on the eastern fringe of the cbd.

151 Beach Rd:
Features: 1032m² site zoned strategic management area 2, 50m height limit under proposed unitary plan, 1829m² floor area on 2 levels
Rent: holding income of $278,212/year + gst
Outcome: sold to a developer for $6.8 million at $6589/m²
Agents: Nigel McNeill & Colin McKenna

Lorne St

X Gallery, 18-26 Wellesley St East:
Features: 1032m2 site on Lorne St corner through to Khartoum Place, the 2712mX Gallery heritage building, refurbished into character retail & office space and fully leased to 12 tenants
Rent: $1.718 million + gst
Outcome: sold for confidential sum
Agents: Robert Platt & Colin McKenna in conjunction with Barfoot & Thompson

Isthmus east

Epsom

107 Great South Rd, unit C:
Features: 253m2 top floor of 3-level office building, leased for 4 years from February 2015 to tax advisors
Rent: $71,073/year net + gst
Outcome: sold for $1,040,013 at a 6.8% yield
Agents: Tony Chaudhary, Janak Darji & Amy Weng

Penrose

24 Greenpark Drive:
Features: 2704m² bare industrial site
Outcome: sold with vacant possession for $1.5 million at $623/m²
Agents: James Valintine & James Hill

Isthmus west

Eden Terrace

9-13 Exmouth St, Eden Terrace.

9-13 Exmouth St, Eden Terrace.

9-13 Exmouth St:
Features: 1322m² site zoned mixed use, 2125m² warehouse leased back to the vendor for one year with 2 6-month rights of renewal
Rent: $285,000/year net + gst
Outcome: sold for $4.3 million at a 6.6% yield
Agents: Paul Dixon, Alan Haydock & Damien Bullick

75 France St South:
Features: refurbished 571m² 2-level office building with final 5-year right of renewal to German multinational Brentagg until May 2020
Rent: $130,000/year net + gst
Outcome: sold for $1.848 million at a 7% yield
Agents: Cameron Melhuish & Andrew Wallace

Grey Lynn

252-258 Great North Rd:
Features: 1002m² development site zoned mixed use, 15m height limit increased to 16.5m under proposed Auckland unitary plan
Rent: holding income of $74,160/year expiring September 2016
Outcome: sold for a confidential sum  
Agents: Cameron Melhuish & Andrew Wallace

Herne Bay

Mollies Hotel & adjoining villa in Herne Bay.

Mollies Hotel & adjoining villa in Herne Bay.

6 Tweed St:
Features: 2 dwellings on a 2905m² site, one 1360m² containing Mollies boutique hotel & function centre, the other a 239m² villa, joined by a connecting hallway
Rent: lease over the larger building to operator of the Mollies business at $283,000/year net + gst
Outcome: sold for $9.5 million
Agent: Alan Haydock

Mt Eden

25, 27, 29 Altham Avenue:
Features: 1518m² development site in 3 equal titles, mixed use zoning under proposed unitary plan
Rent: holding income of $60,000/year net + gst from vehicle storage lease
Outcome: sold for $3 million
Agents: Alan Haydock & Damien Bullick

South of the Bombays

Bay of Plenty

Rotorua

The Pukaki Centre, Rotorua.

The Pukaki Centre, Rotorua.

1144 Pukaki St:
Features: 5-storey 3653m²  Pukaki Centre office building on 1711m² cbd site, fully leased to 7 predominantly government tenants
Outcome: sold site unseen for $5 million at an 8.7% yield to an American who has bought a number of high yielding regional properties through Bayleys
Agents: Brendon Bradley, Mark Rendell & Mark Hourigan

Waihi Beach

127 Emerton Rd:
Features: 7693m² site that was a former motel property converted to a permanent residential & holiday home & caravan complex, with licence-to-occupy income streams
Outcome: sold for $1.2 million
Agents: Brendon & Lynn Bradley, Bayleys Tauranga

Wellington

Between the billboards, 76 Willis St, Te Aro.

Between the billboards, 76 Willis St, Te Aro.

CBD, 76 Willis St:
Features: 655m² mixed use building on 275m² site, ground-floor retail, first-level café, third-level apartment
Rent: $248,824/year net + gst
Outcome: sold for $3.3 million at a 7.5% yield
Agents: Fraser Press & Grant Young

Hataitai, 298-300 Evans Bay Parade:
Features: 2918m² site zoned business 1, 479m² building comprising 2 former dwellings with monthly lease to childcare centre licensed for 65 children
Outcome: sold for $890,000
Agents: Mark Walker & James Higgie

South Island

Canterbury

Hornby, 17 Halwyn Drive:
Features: 3404m² site, 1696m² modern industrial building, new 9-year lease to The Moving Co
Rent: $$210,600/year net + gst
Outcome: sold for $3.009 million at a 7% yield
Agents: Stewart White & Mark Hourigan

Attribution: Agency release.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux