Archive | Quay Park

Updated: 2 more sold; apartment sales take hefty discounting

Published & updated 19 May 2017
Update: 2 more apartments were sold shortly after yesterday’s auction at Ray White City Apartments, taking sales to 5 out of 7. The post-auction sales were at HarbourCity & The Wakefield, details below.

Under the hammer

3 apartments were sold under the hammer out of 7 auctioned at Ray White City Apartments yesterday, but the road to a sale demonstrated the slide in pricing in Auckland’s residential markets.

A unit in the Aura on Cook St was knocked down after the vendor’s bottom price was revealed, followed by a long pause before it was taken up.

That was followed by the sale of leasehold units in Q City at the top of Queen St and Scene 3 in Quay Park. The unit in Q City (pictured) went for $13,000 under the declared reserve.

2 small units in Winsun Heights – real shoeboxes – were passed in.

Updated details:

CBD

Commerce/Gore

Updated: HarbourCity, 16 Gore St, unit 37A:
Features: 38m², one bedroom
Outgoings: rates $3077/year including gst; body corp levy $2479/year (excluding water & gas); $5099 levy for remediation investigation & legal fees, of which first instalment $1283 paid
Income assessment: $430-460/week furnished
Outcome: passed in at $300,000, sold shortly after the auction for $315,000
Agents: May Ma & Mark Li

Learning Quarter

Updated: Wakefield, 18 Wakefield St, unit 2C:
Features: 98m² including 4m² deck, 2 bedrooms, 2 bathrooms, parking space, renovations completed
Outgoings: rates $1671/year including gst; body corp levy $4012/year
Outcome: passed in at $750,000, shortly after the auction for $805,000
Agent: Dominic Worthington

Quay Park

Scene 3, 30 Beach Rd, unit 1408:
Features: leasehold, 77m², one bedroom, study, parking space
Outgoings: rates $1810/year including gst; body corp levy $5496/year, ground rent $11,867/year
Outcome: sold for $151,000
Agent: Andrew Bond

Uptown

Q City, 15 City Rd, unit 10H:
Features: leasehold, 40m², fully furnished one bedroom, balcony
Outgoings: rates $1050/year including gst; body corp levy $3985/year, ground rent $5642/year
Income assessment: $450-480/week furnished
Outcome: declared reserve $99,000, sold for $86,000
Agent: Liz McCarthy

Winsun Heights, 113 Vincent St, unit 12A:
Features: 17m² top-floor studio
Outgoings: rates $1008/year including gst; body corp levy $2774/year
Income assessment: $280/week current, appraised estimate $350/week
Outcome: passed in at $125,000
Agent: Ann Bennett

Winsun Heights, 113 Vincent St, unit 12B:
Features: 14m² top-floor studio
Outgoings: rates $996/year including gst; body corp levy $2774/year
Income assessment: $280/week current, appraised estimate $320/week
Outcome: passed in at $130,000
Agent: Ann Bennett

Victoria Quarter

Aura, 53 Cook St, unit 713:
Features: 49m², refurbished 2 bedrooms, parking space
Outgoings: rates $1287/year including gst; body corp levy $4949/year
Income assessment: $560-600/week furnished
Outcome: sold for $440,000
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Attribution: Auction.

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Sales start to flow post-auction

City Sales had an unsuccessful hour in the auctionroom on Wednesday as all 6 apartments were passed in, but by the end of the afternoon had 2 sold conditionally and offers had been made on 2 more.

The 2 conditional sales were at the Zest on Nelson St and The Point on the Viaduct Basin.

The Point unit was taken to market by the receiver & manager of owner Glenys Treweek’s affairs, Tom Rodewald of Tauranga, appointed on 30 March. The apartment has 3 mortgages over it, 2 registered last year and the third registered on Monday to the owner of another unit in the building.

Ms Treweek was crowned Miss New Zealand in 1970, and in recent years was involved in property investment & the thoroughbred industry. Her partner, longtime property investor & stud owner Michael Tololi, was bankrupt from 2010-13 after creditors turned down his debt-compromise offer of $300,000 to have been paid over time on $40.3 million of debt. Ms Treweek was a director of Karaka companies Karaka Group Ltd, Stony Bridge Thoroughbreds Ltd & Twin Pines Thoroughbreds Ltd.

CBD

Quay Park

Grand Central, 26 Te Taou Crescent, unit 109:
Features: leasehold, 34m², 2 bedrooms
Outgoings: rates $1101/year including gst; body corp levy $11,652/year including ground rent
Income assessment: $385/week current
Outcome: passed in at $49,000 (excluding gst)
Agents: Tom Faye

Uptown

Hereford Residences, 8-15 Hereford St, unit 11D:
Features: 84m², 2 bedrooms, 2 bathrooms, parking available from developer at $80,000/space
Income assessment: $750-800/week
Outcome: passed in at $825,000
Agents: Tom Faye & Anna Birkenhead

Victoria Quarter

Zest, 72 Nelson St, unit 228:
Features: 32m², 2 bedrooms, deck
Outgoings: rates $1037/year including gst; body corp levy $3197/year
Income assessment: $450-500/week
Outcome: passed in at $307,000, sold conditionally post-auction, price confidential
Agents: Steve Kirk & Habeeb Urrahman

Waterfront

The Point, 121 Customs St, unit 415:
Features: leasehold, 92m², 2 bedrooms, 2 bathrooms, 24m² deck, 2 parking spaces
Outgoings: rates $3584/year including gst; body corp opex levy $9606/year, ground rent $14,079/year
Income assessment: $1100/week
Outcome: passed in at $910,000, sold post-auction conditional on vendor consent, price confidential
Agents: Gabrielle Hoffmann & Nicola Hunt

Isthmus west

Eden Terrace

Memphis, 11 Charlotte St, unit GI:
Features: 47m², one bedroom, deck, storage locker, parking space
Outgoings: rates $1169/year including gst; body corp levy $3153/year
Income assessment: $450-500/week
Outcome: passed in at $450,000
Agents: Steve Kirk & Habeeb Urrahman

North-west

New Lynn

10 Crown Lynn Place, unit 3L:
Features: 28m² studio; unallocated parking is available on the property
Outgoings: rates $853/year including gst; body corp levy $2320/year
Income assessment: $280/week
Outcome: passed in at $90,000
Agents: Trish Shanaghan

Attribution: Auction.

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4 apartments sell at Ray White auction

4 of the 5 apartments auctioned at Ray White City Apartments today were sold under the hammer, starting with a one-bedroom unit in the leasehold Docks on Quay St (pictured), where the bidding climbed in $1000 & $2000 raises for $28,000 before the hammer fell.

In a contrast of approaches in a market which is hard to read, auctioneer Ted Ingram said one vendor had dropped their asking price considerably to get a sale, whereas the owner of the Aura unit that was passed in had held out for a figure well above the last bid.

CBD

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1710:
Features: 41m², 2 bedrooms, balcony
Outgoings: rates $1427/year including gst; body corp levy $5213/year
Income assessment: $580-600/week
Outcome: sold for $445,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Quay Park

The Docks, 4 Dockside Lane, unit 220:
Features: leasehold, fully furnished 33m², one bedroom, parking space
Outgoings: rates $1164/year including gst; body corp levy $6216/year including $2388/year ground rent; the body corporate has begun legal proceedings against Auckland Council over building defects
Income assessment: $430/week current, appraisal $480-500/week furnished
Outcome: sold for $148,000
Agents: May Ma & Mark Li

Queen St

Portland Tower, 62 Queen St, unit 4C:
Features: 37m², one bedroom, balcony
Outgoings: rates $1126/year including gst; body corp levy $5362/year
Income assessment: $460-480/week furnished
Outcome: sold for $423,000
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Victoria Quarter

Aura, 53 Cook St, unit 1304:
Features: 49m², 2 bedrooms, balcony
Outgoings: rates $1253/year including gst; body corp levy $5370/year
Income assessment: $460/week current
Outcome: passed in at $390,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Altitude, 34 Kingston St, unit 3E:
Features: 40m², 2 bedrooms
Outgoings: rates $1050/year including gst; body corp levy $3553/year
Income assessment: $400/week
Outcome: sold for $315,000
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Isthmus west

Grey Lynn

Siena Terraces, 6 Burgoyne St, unit 1S:
Features: one bedroom, 2 parking spaces
Outcome: withdrawn from auction
Agent: Judi Yurak

Attribution: Auction.

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Silo & Bankside units sell, Quba unit passed in

2 units were sold and one was passed in at Barfoot & Thompson’s apartments auction today.

A studio in Silo (pictured), above Fort St, went for about $11,000/m² after an allowance for the accompanying parking space – high for secondary stock in today’s market but well short of the $395,000 sale of an even smaller Silo studio last November. That one out of the box priced the living space at about $20,000/m².

The other sale was in the Waldorf Bankside at the top of Shortland St.

A leasehold unit in the Quba apartments in Quay Park with a tenant outside the Adina hotel pool was passed in. That building faces ground lease negotiations next year.

CBD

Learning Quarter

Waldorf Bankside, 8 Bankside St, unit 2A:
Features: one bedroom
Outgoings: body corp levy $3977/year
Income assessment: $380-400/week
Outcome: sold for $280,000
Agents: Annie Xu & Sean Zhang

Silo, 23 Emily Place, unit 9C:
Features: 22m² corner studio, balcony, secure parking space
Outgoings: body corp levy for unit $3471/year, parking $829/year
Income assessment: unit $390/week fixed until 31 March 2018, parking $60/week current
Outcome: sold for $312,000
Agents: Stephen & Leo Shin

Quay Park

Quba, 2 Tapora St, unit 409:
Features: leasehold, one bedroom, parking space
Outgoings: rates $1278/year including gst; body corp levy $2626/year, ground rent $3391/year, fighting fund levy $763 – total outgoings $8058/year
Outcome: passed in at $225,000
Agents: Annie Xu & Sean Zhang

Attribution: Auction.

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2 units sell at City Sales

A unit in Forte and one of 2 leasehold apartments at Quay Park, at 8 on Quay (pictured), were sold under the hammer at City Sales’ auction yesterday. Auction of a fourth unit in Eden Terrace was postponed.

CBD

Learning Quarter

Forte, 37 Symonds St, unit 809:
Features: 46m², 2 bedrooms, deck
Outgoings: rates $1316/year including gst; body corp levy $4087/year
Outcome: sold for $420,000
Agents: Chris Bell & Lucy Piatov

Quay Park

Scene 2, 18 Beach Rd, unit 504:
Features: leasehold, 90m², 3 bedrooms, 2 bathrooms, deck, storage locker, parking space
Outgoings: rates $1671/year including gst; body corp levy $4509/year, ground rent $6215/year
Outcome: passed in at $210,000
Agents: Tania Toparea

8 on Quay, 8 Quay St, unit 14A:
Features: leasehold, 91m², 2 bedrooms, 2 bathrooms, deck, 2 parking spaces
Outgoings: rates $1623/year including gst; body corp levy $4260/year, ground rent $9994/year with review in August 2018
Income assessment: $580/week current
Outcome: sold for $122,000
Agents: Gabrielle Hoffmann & Nicola Hunt

Isthmus west

Eden Terrace

Charlotte Mews, 40 Charlotte St, unit 1B:
Features: 88m², 2 bedrooms, 2 decks, parking space
Outgoings: rates $1564/year including gst; body corp levy $2724/year
Income assessment: $500/week current
Outcome: auction postponed
Agents: Elena Tarasova

Attribution: Auction.

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Avoka & Scene 3 apartments sell despite their problems

Both apartments auctioned at Ray White City Apartments today had issues, but both sold under the hammer, thought it took some coaxing.

First up, a unit in Scene 3 with a parking space was leasehold, which has affected both market interest & pricing for several years. The second apartment is in the Avoka building, just off Karangahape Rd, where the body corporate has begun a remediation project.

CBD

Quay Park

Scene 3, 30 Beach Rd, unit 1007:
Features: leasehold, 45m², one bedroom, parking space
Outgoings: rates $1405/year including gst; body corp levy $4056/year, ground rent $8759/year
Income assessment: $490-550/week
Outcome: sold for $130,000
Agent: James Mairs

Uptown

Avoka, 31 Day St, unit 3F:
Features: 49m², one bedroom, 2 balconies; the body corporate has begun a remediation project
Outgoings: rates $1075/year including gst; body corp levy $4430/year
Outcome: sold for $175,000
Agent: James Mairs

Attribution: Auction.

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7 apartments sell at Ray White auction

7 apartments were sold at Ray White City Apartments’ auction yesterday out of 9 on offer, including one of 2 leasehold units at The Docks and another Quay Park leasehold at The Landings.

On the North Shore, 2 units in the Spencer on Byron (pictured) and one in the nearby Shoalhaven were sold.

An unusual moment for the city apartment office was a plus-$1 million sale for a large unit in H47, although once the size (116m²) & 2 parking spaces are taken into account, the square metre rate would come down to $7300/m² internal.

CBD

Quay Park

The Docks, 8 Dockside Lane, unit 154:
Features: leasehold, 30m², one bedroom, patio
Outgoings: rates $708/year including gst; body corp levy $4581/year including $1760/year ground rent, next ground rent review November 2018
Income assessment: $350/week current
Outcome: sold for $112,000
Agent: Dominic Worthington

The Docks, 6 Dockside Lane, unit 520:
Features: leasehold, 60m², 2 bedrooms, parking space
Outgoings: rates $1671/year including gst; body corp levy $11,967/year including $4598/year ground rent, next ground rent review November 2018
Income assessment: $600/week current
Outcome: no bid
Agents: Dominic Worthington & Ady Huang

The Landings, 10 Ronayne St, unit 211:
Features: leasehold, 61m², 2 bedrooms, 2 bathrooms, secure covered parking space, storage locker
Outgoings: rates $1037/year including gst; body corp operational levy $2972/year, ground levy $2488/year
Income assessment: $450/week current until October
Outcome: sold for $135,000
Agents: James Mairs & Dominic Worthington

Victoria Quarter

H47, 47 Hobson St, unit 1107:
Features: 116m², 2 bedrooms, 2 bathrooms, balcony, 2 parking spaces, storage locker
Outgoings: rates $2596/year including gst; body corp levy $9235/year after 10% discount
Income assessment: $770/week current for apartment + one parking space fixed until 15 May, appraisal $850-900/week furnished
Outcome: sold for $1.007 million
Agents: May Ma & Mark Li

Zest, 72 Nelson St, unit 113:
Features: 37m², fully furnished 2 bedrooms,
Outgoings: rates $1126/year including gst; body corp levy $3477/year after 10% discount
Income assessment: $430-450/week
Outcome: sold for $326,000
Agent: Victor Liu

Isthmus west

Newton

2H Diamond St:
Features: 61m², fully furnished 2 bedrooms with new furniture package, 2 parking spaces
Outgoings: rates $1628/year including gst; body corp levy $1905/year
Income assessment: $600-650/week furnished
Outcome: passed in at $600,000
Agents: Ryan Bridgman & Mitch Agnew

North-east

Takapuna

Shoalhaven, 130 Anzac St, unit B207:
Features: 50m², 2 bedrooms, balcony, secure parking space
Outgoings: rates $1486/year including gst; body corp levy $3573/year
Income assessment: $550-580/week furnished
Outcome: sold for $560,000
Agents: Damian Piggin & Daniel Horrobin

Spencer on Byron, 9-17 Byron Avenue, unit 1810:
Features: 30m² studio, balcony, parking space
Outgoings: rates $1968/year including gst; body corp levy $2568/year
Outcome: sold for $275,000 + gst
Agents: Gillian Gibson & James Mairs

Spencer on Byron, 9-17 Byron Avenue, unit 1606:
Features: 48m², one bedroom, secure parking space, under hotel management
Outgoings: rates $2524/year including gst; body corp levy $3471/year
Outcome: sold for $351,000 + gst
Agents: Gillian Gibson & James Mairs

Attribution: Company release.

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7 apartment & townhouse auction sales

Bayleys agents sold one city apartment & 6 suburban townhouses & units at auctions around the Auckland region last week.

CBD

Quay Park

Scene 1, 2 Beach Rd, unit 1108:
Features: leasehold, 2-bedroom apartment, 2 parking spaces, deck
Outgoings: rates $1519/year including gst; body corp levy $4132/year, ground rent $7289/year
Income assessment: $610/week current
Outcome: sold prior for $180,000
Agent: Marcus Fava

Isthmus east

One Tree Hill

52A Campbell Rd, unit 2:
Features: 2-bedroom unit, deck, carport
Outcome: sold for $717,000
Agent: Lindy Lawton

Isthmus west

Sandringham

22 Coyle St, unit 3:
Features: 2-bedroom unit
Outcome: sold for $735,000
Agent: Summer Sun

North-east

Hauraki

18 Sydney St, unit 2:
Features: refurbished 2-level 4-bedroom townhouse, 2 bathrooms, garage
Outcome: sold for $1,092,500
Agents: Desley McCowan & Joan Barton

Takapuna

27 Waitemata Rd, unit 1:
Features: 2-level 3-bedroom townhouse, office, 2 bathrooms, deck, 3 parking spaces
Outcome: sold prior for $1.505 million
Agent: Jennifer Keenan

South

Bucklands Beach

191 Gills Rd, unit 2:
Features: 3-bedroom townhouse, deck, garage
Outcome: sold for $751,000
Agent: Gary Robertson

191 Gills Rd, unit 4:
Features: 3-bedroom townhouse, garage
Outcome: sold for $735,000
Agent: Gary Robertson

Attribution: Agency release.

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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.

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Scene 3 apartment passed in

An apartment in the leasehold Scene 3 on Beach Rd, Quay Park, was passed in at Bayleys’ auction on Wednesday.

CBD

Quay Park

Scene 3, 30 Beach Rd, unit 1002:
Features: leasehold, one bedroom, parking space
Outgoings: rates $1410/year including gst; ground rent $9324/year
Income assessment: $485/week current
Outcome: passed in
Agents: Andrew Bond

Attribution: Auction release.

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