Archive | CBD

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.

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Boston Rd mix and Chambers & Station apartment sell

5 of 11 intensive residential properties have sold at Barfoot & Thompson’s city auctions over the last 2 days, including a mixed property in Grafton (pictured above) containing 2 apartments, office space, a warehouse & parking. It was sold under the hammer, up $920,000 from the starting price.

A new apartment in the Chambers & Station conversion in Mt Eden was also sold.

CBD

Uptown

Chatham, 70 Pitt St, unit 704:
Features: 70m², vacant fully furnished 2-bedroom sub-penthouse, 2 bathrooms, balcony
Outgoings: body corp levy $5351/year
Outcome: passed in at $600,000
Agents: Mike Campbell & Grant Elliott

Isthmus east

Grafton

31 Boston Rd:
Features: 151m² 4-bedroom apartment, mezzanine lounge, private courtyard; 112m² 2-bedroom apartment, balcony, nearing end of fixed-term lease at $600/week; 87m² 3-room office space was leased at $18,200/year gross including gst; 158m² warehouse, 7 offstreet parking spaces; total 530m²
Outcome: sold for $2.82 million
Agents: Ross & Joss Goodall

Parnell

300 Parnell Rd, unit 8:
Features: 3-bedroom terrace, deck & balcony, internal-access garage, reclad and has fresh code compliance certificate
Outcome: no bid
Agents: Jill Jackson & Emma John

Remuera

266 Victoria Avenue, unit 2:
Features: 4-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: sold for $2.2 million
Agent: Alex Baker

Isthmus west

Mt Albert

7 Amandale Avenue, unit 3:
Features: 2-bedroom unit, carport
Outcome: no bid
Agents: Jane Wang & Angela Qi

Mt Eden

111 Balmoral Rd, unit 2:
Features: cross-lease, 2-bedroom unit, courtyard, carport
Outcome: sold for $840,000
Agent: Nick Lyus

35 Reimers Avenue, unit 1:
Features: cross-lease, quarter share in 754m² across the street from Eden Park, 2-bedroom unit, carport
Income assessment: $515/week current
Outcome: passed in at $500,000
Agent: Robert Thompson

Chambers & Station, 64 Valley Rd, unit 3:

Chambers & Station on Valley Rd, Mt Eden.

Features: one-bedroom apartment in the former Mt Eden Borough Council chambers built in 1912 and neighbouring fire station built in 1925, 3.7m stud height, 2 living areas, storage, basement parking space
Outcome: sold for $1.208 million
Agent: Julie Fitzpatrick

St Marys Bay

72B Shelly Beach Rd:
Features: 181m², 3-bedroom apartment, 2 bathrooms, internal lift, deck, garden, internal-access garage
Outcome: no bid
Agents: Keith Simpson

117 Shelly Beach Rd, unit 1:
Features: 4-bedroom townhouse, 2 bathrooms, deck, 2 parking spaces, pool
Outgoings: body corp levy $7119/year
Outcome: passed in
Agents: Carl & Roseanne Madsen

Three Kings

19 Hayr Rd, unit 2:
Features: 2-bedroom unit, garage
Outcome: sold for $700,000
Agents: Margaret Johnston & Jane Chen

Attribution: Auctions.

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12 sell at Bayleys’ Total Property auction

Bayleys sold 11 properties under the hammer yesterday of the 15 offered in its first Total Property commercial portfolio for the year. Another property was sold last Friday in an auction brought forward.

Yields were variable – down at 3.1% on one property which might reflect development potential more than the present return, 3.6% on a Plumbing World tenancy in New Lynn, 4.4% on a Manukau butcher’s shop, 5.25% on a Party Hire warehouse in East Tamki, 5.4% & 4.9% on 2 retail outlets in the new Dylan apartment building on Great North Rd (pictured above), 6.1% on a Rosedale gym. And, out of town, 7.6% on a long-term NZ Post lease in Whanganui.

CBD

Queen St

Mid-City, 239 Queen St, unit 1A:
Features: 39m² fast-food outlet fronting Queen St
Rent: $150,657.30/year net + gst from renewed 12-year lease to Avachi Fried Chicken
Outcome: auction postponed to Total Property 2, Wednesday 12 April
Agents: Quinn Ngo & James Chan

Uptown

117 Vincent St:
Features: 364m² site, total building area 736m² on 3 levels, each of 245.6m²; 12 parking spaces on ground floor, 2 office floors above
Rent: vacant
Outcome: passed in at $3.5 million
Agents: Nigel McNeill & Ben Bayley

Isthmus east

Onehunga

137 Onehunga Mall:
Features: 185m² site, 213m² 2-storey building
Outcome: sold for $900,000, including the bar & gaming business in it
Agents: Oscar Kuang & James Chan

Parnell

465-467 Parnell Rd:
Features: 612m² site zoned terrace housing & apartment building, 422m² villa, onsite parking, opportunity to own/occupy after April 2018
Rent: fully lease returning $119,113/year + gst
Outcome: sold for $3.525 million
Agents: Cameron Melhuish & Jenny Kek

Isthmus west

Blockhouse Bay

The Blockhouse Bay property sold on 3.1% yield at auction brought forward.

575 Blockhouse Bay Rd:
Features: 610m² corner site zoned business – local centre, dual-access rear parking
Rent: $55,687.93/year net from convenience store & attached accommodation and 2-level gym
Outcome: sold at pre-auction; declared reserve was $1.4 million, sold for $1.8 million at a 3.1% yield
Agents: Alan Haydock & Damien Bullick

Grey Lynn

The Dylan, 367-375 Great North Rd, principal unit 1:
Features: 128m² freehold retail unit on ground floor of new apartment development, 2 parking spaces, occupied by Love Bites Kitchen
Rent: $68,000/year net + gst from 6-year lease started November 2016, 2 4-year rights of renewal, 3%/year increases, to market on renewal
Outcome: sold for $1.27 million at a 5.4% yield
Agents: Damien Bullick & Alan Haydock

The Dylan, 367-375 Great North Rd, principal unit 2:
Features: 49m² freehold retail unit on ground floor of new apartment development, no parking, occupied by Arch Hill Laundromat
Rent: $30,000/year net + gst on 8-year lease from October 2016
Outcome: sold for $611,000 at a 4.9% yield
Agents: Damien Bullick & Alan Haydock

Newton

10 South St:
Features: 357m² site, 318m² standalone building,
Rent: $126,000/year net + gst, new 10-year lease to main tenant + income from billboards & 2-bedroom flat
Outcome: withdrawn from auction
Agents: Oscar Kuang & Nicolas Ching

North-east

Rosedale

32 Constellation Drive, unit 5:
Features: 385m² unit in retail centre, fully leased to Snap Fitness, 30 parking spaces in common area
Rent: $157,497/year net + gst, 8-year lease from 2013 + 2 8-year terms
Outcome: sold for $2.585 million at a 6.1% yield
Agents: Ranjan Unka & Anna Radkevich

11-13A Paul Matthews Rd:
Features: 517.7m² roadfront industrial unit, clearspan high stud warehouse, 8 parking spaces
Outcome: sold vacant for $1.55 million
Agent: Matt Mimmack

Wairau Valley

7 Porana Rd, unit A:
Features: 109.7m² vacant industrial unit, 2 parking spaces, multiple rollerdoor access
Outcome: sold for $476,000
Agent: Matt Mimmack

North-west

Henderson

Lincoln Centre, 111 Lincoln Rd, unit B:
Features: 1113m² building, occupied by Accident Compensation Corp since 2000, onsite parking
Rent: $287,000/year gross + gst, 3-year lease from March 2017 + 3-year right of renewal
Outcome: no bid
Agents: Nicolas Ching & James Chan

New Lynn

48 Portage Rd:
Features: 1012m² site + 1/10 share in 585m², 4-year lease to Plumbing World Ltd from October 2016 with rights of renewal
Rent: $62,250/year + gst, 4-year lease from 1 October 2016 with right of renewal
Outcome: sold for $1.73 million at a 3.6% yield
Agents: Mike Adams & Laurie Bell

South

Clover Park

112 Dawson Rd, unit O (shop 14) in Chapel Downs shopping centre:
Features: 230m² butchery, 2 parking spaces
Rent: $62,000/year net + gst + outgoings on 4-year lease from April 2016, rights of renewal to 2028
Outcome: sold for $1.42 million at a 4.4% yield
Agents: Dave Stanley & Geoff Wyatt

East Tamaki

179C Harris Rd, corner Ti Rakau Drive:
Features: 270m² strata title, showroom, warehouse & office occupied by Party Hire, 6 parking spaces
Rent: $46,000/year net + gst + outgoings, established tenant with renewed 4-year lease term
Outcome: sold for $875,000 at a 5.25% yield
Agents: Tony Chaudhary & Janak Darji

Manukau Central

5C Jack Conway Avenue:
Features: 471m² corner unit title – 230m² ground floor, 241m² first floor, onsite parking
Rent: $130,000/year net + gst + outgoings from 2 tenants on long-term leases
Outcome: no bid
Agents: Rod Grieve & Maxene Bates

South of the Bombays

Napier

88-94 Dickens St:
Features: 911m² site, 3 ground-floor tenants, option to develop upstairs
Rent: $78,855/year net + gst
Outcome: no bid
Agents: Paul Dixon & Sam MacDonald

Whanganui

115 Victoria Avenue:
Features: 916m² site, 403m² floor area, 10 parking spaces
Rent: $206,268 from long lease to NZ Post Ltd
Outcome: sold for $2.73 million at a 7.6% yield
Agents: Cameron Melhuish & Ed Donald

Attribution: Auction.

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2 more apartments sell at Bayleys

2 apartments were sold at Bayleys auctions last week, on top of 5 at sessions in the agency’s new Wynyard Quarter auctionroom last Wednesday. Another one was sold prior and 4 were passed in.

CBD

Queen St

Quest on Queen, 62 Queen St, unit 2D:
Features: 2-bedroom loft, 2 bathrooms, patio
Outgoings: rates $1696/year including gst; body corp levy $4828/year
Outcome: sold for $760,000
Agent: Blair Haddow

Uptown

Hopetoun Residences, 15 Hopetoun St, unit 1A:
Features: 3 bedrooms, 2 bathrooms, deck, 2 parking spaces
Outcome: sold for $1.55 million
Agents: Robyn Clark & Peter Tanner

Isthmus west

Herne Bay

42E West End Rd:
Features: 3 bedrooms, 2 bathrooms, 2 secure parking spaces, storage
Outcome: passed in
Agent: George Passmore

Mt Roskill

1307 Dominion Rd Extension, unit 2:
Features: 115m², 2- bedroom unit, annex & conservatory
Outcome: sold prior for $685,000
Agent: Jan Honey

St Marys Bay

54 Hackett St:
Features: 2-bedroom unit, parking space
Outcome: passed in, back on market at $1.18 million
Agent: Chris Batchelor

Waterview

3 Tutuki St:
Features: 3 bedrooms, 2 bathrooms, deck
Outcome: passed in
Agents: Lisa Smyth & David Downie

South

Papatoetoe

233A St George St, unit 3:
Features: 3-bedroom unit, parking space
Outcome: passed in
Agent: Steve Gill

Attribution: Agency release.

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3 suburban commercials sell but Vic Park Market premises all passed in

2 light industrial properties and an Ellerslie office building were sold at yields ranging from 5% (Airport Oaks) up to 6.9% (Ellerslie) at Colliers’ auction today.

They were followed by the Victoria Park Market (pictured above) management office, which was sold, and 4 restaurant & hospitality premises at the market, none of which received a bid (apart from one vendor bid on the first restaurant).

The market properties were all taken to auction by Drake City Ltd (Shahin Behrooz Kermani).

CBD

Victoria Quarter – 5 premises in the Victoria Park Market

Management office:
Features: 40.25m²
Rent: $15,750 + gst, reviews 2 years to cpi + 2% or market, whichever is higher
Outcome: sold for $292,500 at a 5.4% yield
Agents: Gareth Fraser & Simon Felton

Indian Village, units 4A, 5A, 6 & 7, Drake St:
Features: 207m², original 10-year lease runs until 28 February 2023, 2 5-year rights of renewal
Rent: $134,745/year net + gst, reviews on market soft ratchet
Outcome: no bid
Agents: Gareth Fraser, Simon Felton & Tony Allsop

The White Rabbit, unit 73, Drake St:
Features: 490m², rooftop deck, original 10-year lease runs until 30 April 2022, 2 5-year rights of renewal
Rent: $212,341/year net + gst, reviews to market
Outcome: no bid
Agents: Gareth Fraser, Adam White & Tony Allsop

The Oakroom, unit 74, Drake St:
Features: 224m², original 12-year lease runs until 31 October 2023, 6-year right of renewal
Rent: $100,794/year net + gst, reviews on market soft ratchet
Outcome: no bid
Agents: Gareth Fraser, Adam White & Simon Felton

Hansik Restaurant, unit 75, Drake St:
Features: 303m², original 5-year lease runs until end of 2019, 2 5-year rights of renewal
Rent: $100,000/year net + gst, reviews structured
Outcome: passed in after vendor bid at $1 million
Agents: Gareth Fraser, Tony Allsop & Adam White

Isthmus east

2 Kalmia St, Ellerslie.

Ellerslie

2 Kalmia St:
Features: 2032m² mixed-use site, net lettable area 1477m² in 4-level air-conditioned building, multiple tenants, dual road access, 45 parking spaces
Rent: $373,992.13/year net + gst
Outcome: sold for $5.4 million at a 6.9% yield
Agents: Gareth Fraser, Simon Child & Greg Goldfinch

South

Airport Oaks

46 Andrew Baxter Drive:
Features: 2940m² light industrial site, tenant Aquafit NZ Ltd, net lettable area 1816m² – offices & amenities 253m² at $200/m², warehouse 1031m² at $112/m², canopy 532m² at $60/m²
Rent: $197,992/year net + gst, new 5-year lease, 12-month bank bond
Outcome: sold for $3.9 million at a 5.08% yield
Agents: Brad Johnston & Paul Jarvie

East Tamaki

9 Bostock Place:
Features: 7099m² site, 3526m² floor area, longstanding tenant, potential to split building, large yard, dual road access
Rent: $392,532/year net + gst, 6-year lease
Outcome: withdrawn from auction
Agents: Paul Higgins & Greg Goldfinch

90 Lady Ruby Drive:
Features: 849m² light industrial site, gross lettable area 724m² – office 180m² at $210/m², workshop 38m² at $125/m², mezzanine above workshop 38m² at $60/m², warehouse 505m² at $125/m², canopy 31m² at $55/m², 100% seismic rating, tenant Tex Onsite Ltd
Rent: $109,802/year net + gst, new 5-year lease
Outcome: sold for $1.93 million at a 5.7% yield
Agents: Paul Jarvie & Jolyon Thomson

Attribution: Auction.

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5 apartments sell in new Bayleys auctionroom

5 of 7 apartments auctioned at Bayleys on Wednesday were sold under the hammer, as the agency conducted the first auction at the new Bayleys House on Gaunt St in the Wynyard Quarter.

Both units in the 1920s Prince Albert building on Albert St were sold and a penthouse in the leak-damaged Luna Apartments in Grafton (pictured) was also sold, although it still has to undergo an expensive remediation project.

CBD

Albert St

Prince Albert, 41 Albert St, unit 3C:
Features: one bedroom, balcony
Outgoings: body corp levy $4342/year
Outcome: sold for $455,000
Agents: Julie Prince & Diane Jackson

Prince Albert, 41 Albert St, unit 3D:
Features: 2 bedrooms, balcony
Outgoings: body corp levy $8834/year
Outcome: sold for $640,000
Agents: Julie Prince & Diane Jackson

Learning Quarter

Brooklyn, 66 Emily Place, unit 32:
Features: one bedroom
Outgoings: rates $1189/year including gst; body corp levy $4208/year
Outcome: no bid
Agents: Julie Prince & Diane Jackson

Uptown

Bianco off Queen, 8 White St, unit 9E:
Features: dual key – 2-bedroom apartment plus self-contained studio on one title, parking space
Outgoings: rates $1696/year including gst; body corp levy $9561/year
Income assessment: $900/week current
Outcome: passed in at $580,000
Agents: Dave Hamlyn & Walter Thompson

Isthmus east

Grafton

Luna Apartments, 16 Burton St, unit 6C:
Features: 2-bedroom penthouse, 2 bathrooms, 2 secure parking spaces; body corporate is working towards a remediation estimated last year at $18 million for the 122-unit building
Outgoings: rates $1701/year including gst; body corp levy $5078/year
Outcome: sold for $393,000
Agents: Dave Hamlyn & Walter Thompson

Mission Bay

2 Atkin Avenue, unit 4:
Features: leasehold, quarter share in 1107m², 4/105 share in 594m², 142m² on 2 levels, 3 bedrooms, 2 bathrooms, 2 parking spaces
Income assessment: rent $138,000/year on 21-year lease from April 2014, with maintenance conditions
Outcome: sold for $260,000
Agents: David Anderson & Hamish Duke

Parnell

Hemisphere, 11 Augustus Terrace, unit 1G:
Features: 90m², 2 bedrooms, 2 bathrooms, balcony, 2 parking spaces
Outgoings: rates $2132/year including gst; body corp levy $5821/year
Outcome: sold for $780,000
Agents: Chris Reeves & Amy Hain

Attribution: Auction.

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Barclay apartment sells at auction

One apartment in the Barclay on Albert St sold at Ray White City Apartments’ auction today, but the other on offer, in the Meridian off Karangahape Rd, didn’t attract a bid.

CBD

Albert St

Barclay, 70-74 Albert St, unit 2003:
Features: 45m², one bedroom, 7m² balcony
Outgoings: rates $3210/year including gst; body corp levy $4913/year
Income assessment: $500-550/week furnished
Outcome: sold for $402,000; 6-month settlement to get it out of the hotel pool
Agent: Steve King

Uptown

Meridian, 11 Howe St, unit 2G:
Features: 47m², 2 bedrooms, balcony
Outgoings: rates $1118/year including gst; body corp levy $3791/year
Income assessment: $550-580/week furnished
Outcome: no bid
Agents: Mitch Agnew & Ryan Bridgman

Attribution: Auction.

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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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Random numbers aren’t proper at auctions, are they?

When you see the results of auctions, the sale prices almost invariably end with 3 zeroes. Imagine, then, a bid of a seemingly random number which even the bidder looked like having trouble remembering. And raises of just $4, followed by one of $112.

This unusual auction played out at City Sales yesterday on the fifth of 6 apartments on the auction list, the second unit in the 96 on Symonds building (pictured above) to be offered on the day.

Bidders had struggled from an opening price of $195,000 for the 2-bedroom unit to $220,000, when auctioneer Kim Spark declared it was on the market. A woman, who’d been pushing a pram back & forth before holding her young child in her arms, offered a small raise which Mr Spark didn’t want to accept.

And so began the series of unusual bids, starting with an increase from $220,000 to $222,379. Sales agent Tina Bartlett, with a buyer on the phone, countered by doing the normal rounded bid to $223,000. Back came the woman with the child, offering $223,157, which Ms Bartlett raised to $223,161.

Occasionally there were what you might call regular bids, zeroed off.

Mr Spark maintained his cool and did better than many auctioneers at rattling off odd numbers, but the room wasn’t cool. Bidders don’t pick numbers out of thin air. Ms Bartlett was clearly frustrated.

An auction can take a long time by rising in $1000 or $500 steps and nobody will be too concerned. But odd numbers? Not the same.

I enjoyed the moment for the exercise in tactics, and because somebody dared to step outside convention. That convention has a reserve price set but not disclosed – and possibly reset if all is not going well – and it doesn’t really matter what the bids are up to that point so long as the auctioneer sees progress, although auctioneers generally try to keep proceedings under control with large-figure steps at first.

The other part of the convention is that, although raises may be very small once a property is declared on the market, mostly they’re rounded. And, mostly, that seems to be for the benefit of the auctioneer, even though they normally have somebody alongside writing the bids down.

The unusual bidding on this apartment took the price up just $20,000 before the woman with the child dropped out. The phone bidder had persevered and won. There was a sense of relief around the room, frazzled onlookers could relax. The woman who came second headed for the lift, having got her child to sleep while upsetting everybody else’s equilibrium.

The other unit at 96 on Symonds on the auction list was passed in, 2 of the other 4 units on the list were sold under the hammer and a Shed 23 apartment on Princes Wharf was sold shortly after the auction.

CBD

Learning Quarter

96 on Symonds, 96 Symonds St, unit 406:
Features: 41m², 2 bedrooms, deck
Outgoings: rates $1189/year including gst; body corp levy $4030/year
Income assessment: in management agreement, currently $480/week
Outcome: sold for $240,000
Agents: Tina Bartlett

96 on Symonds, 96 Symonds St, unit 708:
Features: 45m², 2 bedrooms, deck, storage locker, parking space
Outgoings: rates $1341/year including gst; body corp levy $5385/year
Outcome: passed in at $425,000
Agents: Iona Rodrigues

Oakwood, 81 Wakefield St, unit 6B:
Features: 29m², fully furnished studio, deck
Outgoings: rates $999/year including gst; body corp levy $4080/year
Income assessment: $400/week current
Outcome: sold for $275,000
Agents: Steve Kirk & Habeeb Urrahman

Waterfront

Princes Wharf, 145 Quay St, shed 23, unit 65:
Features: leasehold, 108m², 2 bedrooms, 2 bathrooms, deck, parking space under long-term carpark licence
Outgoings: rates $2545/year including gst; body corp opex levy $16,942/year including gst, ground rent $25,241/year including gst
Outcome: passed in after sole vendor bid of $250,000, sold post-auction for an undisclosed price
Agents: Tina Bartlett & Tricia Carlson

Isthmus west

Eden Terrace

Fleetwood, 19-35 Fleet St, unit C6:
Features: 86m², 2 bedrooms, 17m² deck, parking space; new code compliance certificate issued in 2016
Outgoings: rates $1549/year including gst; body corp levy $3689/year
Income assessment: $620-680/week
Outcome: passed in at $530,000
Agents: Tina Bartlett

Grey Lynn

One on Ophir, 1 Ophir St, unit 3B:
Features: 65m², 2 bedrooms, 2 bathrooms, deck, parking space
Outgoings: rates $1524/year including gst; body corp levy $4520/year
Income assessment: appraisal $650/week
Outcome: sold for $600,000
Agents: Anna Birkenhead

Attribution: Auction.

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Central apartments, suburban townhouses & development site sell

2 central city apartments, 2 on the fringes, 4 suburban units and a development site sold under the hammer at Bayleys auctions around the region in the last week.

The development site at Royal Oak has a recently renovated house on it, but the section has been rezoned business – town centre, making change likely.

Both central city apartments are on Anzac Avenue, one at No 105 and the other in the Harbour Royal at No 88.

CBD

Learning Quarter

Harbour Royal, 88 Anzac Avenue, unit 8C:
Features: 2-bedroom apartment, covered parking space
Outcome: sold for $740,000
Agents: Murray Savage & Tina Chang

105 Anzac Avenue, unit 2C:
Features: 97m², 2-bedroom apartment, 2 bathrooms, tiled conservatory, enclosed balcony, secure parking space, storage locker
Outgoings: rates $1848/year including gst; body corp levy $5139/year
Outcome: sold for $692,000
Agent: Paul Sissons

Isthmus east

Epsom

16A Greenfield Rd:
Features: 3-bedroom townhouse, 2 bathrooms, double carport
Outcome: sold for $1.15 million
Agent: Glenn Baker

Onehunga

15 Bond Place:
Features: 449m² freehold section, 2-level 2013 townhouse, 4 bedrooms, 3.5 bathrooms, deck & garden, double internal-access garage
Outcome: sold for $1.02 million
Agent: Lindy Lawton

Parnell

Brighton Gardens, 10 Brighton Rd, unit 2:
Features: 2-bedroom apartment, 2 bathrooms, parking space
Outgoings: rates $2844/year including gst
Outcome: sold for $985,000
Agent: Chris Reeves

Remuera

15B Chatfield Place:
Features: 3-bedroom townhouse, 2 bathrooms, 2 parking spaces, full cavity system
Outcome: sold for $1.55 million
Agent: David Nightingale

Royal Oak

697 Mt Albert Rd, lot 1:
Features: 115m² house on 685m² section now zoned business – town centre, 4 bedrooms, carport
Outcome: sold for $1.2 million
Agent: Andrew Rumbles

Isthmus west

Ponsonby

Pulse, 80 Richmond Rd, unit 3T:
Features: one-bedroom apartment, balcony, secure parking space
Outcome: sold for $485,000
Agents: Luke McCaw & Andrea Ritchie

North-east

Browns Bay

766 Beach Rd, unit 2:
Features: 2-bedroom unit
Outcome: sold for $650,000
Agents: Angeline Wong & Annette Lum

Attribution: Auctions roundup.

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