Archive | Queen St

Pullman & Kitchener St apartments sell

2 apartments were sold at Bayleys’ city auction yesterday, one in the Pullman Residences and the other in Kitchener St Studios (pictured). Another 2 city apartments, a Herne Bay townhouse and a cross-lease in West Auckland were passed in.

CBD

Kitchener St

Kitchener St Studios, 22 Kitchener St, unit 5D:
Features: one-bedroom loft, seismic rating 75% of new building standard
Outgoings: rates $1544/year including gst; body corp levy $4085/year
Outcome: sold for $665,000
Agents: Julie Prince & Diane Jackson

Learning Quarter

Maison en Ville, 24-26 Anzac Avenue, unit 4:
Features: 2/3-bedroom penthouse, internal floor-ceiling doors, leased parking space
Outgoings: rates $2751/year including gst; body corp levy $8136/year including $1988/year lift levy
Outcome: no bid
Agents: Diane Jackson & Julie Prince

Pullman Residences, 6 Princes St, unit 7G:
Features: 70m², fully furnished one bedroom, deck, parking space
Outgoings: body corp levy $11,209/year
Outcome: sold for $670,000
Agent: David Anderson

Queen St

CityLife, 171 Queen St, unit 2304:
Features: 261m², air-conditioned, double-height glass atrium living area, 3-bedroom penthouse, 3 bathrooms, powder room, study, wine cellar, room-sized storage area, wraparound balconies, 2 secure parking spaces
Outgoings: body corp levy $25,486/year
Outcome: no bid
Agents: Shona Walding

Isthmus west

Herne Bay

4 Curran St, unit 9:
Features: 4-bedroom townhouse, 2 bathrooms, parking space
Outgoings: body corp levy $3276/year
Outcome: passed in at $1.4 million
Agents: Karen Spires & Sally Ridge

North-west

Sunnyvale

8 Borich Rd, unit 2:
Features: cross-lease, half share in 794m², 3 bedrooms, garage
Outcome: no bid
Agents: Cindy Ji

Attribution: Auction.

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5 intensive residentials & 2 warehouses sell at Barfoots

Barfoot & Thompson sold 5 intensive residential properties – apartments, townhouses, suburban units, cross-leases – at its city auctions on Wednesday-Thursday, leaving 9 unsold, and sold both commercial properties on offer.

After some long silences during the residential auction yesterday, one of the warehouses was brought back and sold after some spirited bidding. The other warehouse was sold shortly after auction.

Apartments

CBD

Queen St

Queen’s Residences, 8 Airedale St, unit 1104:
Features: one-bedroom apartment, study, balcony
Outgoings: body corp levy $1858/year
Outcome: sold for $470,000 at auction brought forward
Agents: Simon Cai & Terry Kim

Uptown

Amora, 100 Greys Avenue, unit 7D:
Features: one-bedroom apartment, management contracted to the hotel until 2020, hotel pays body corporate & council levies, annual CPI increases for income
Outgoings (paid by hotel): body corp levy $4531/year + one-off $1628 special levy to install common area air-conditioning
Income assessment: exceeding $9800/year + gst
Outcome: sold for $215,000
Agents: Mike Campbell

Victoria Quarter

Harbour Green, 11 Union St, unit 1110:
Features: refurbished 2-bedroom apartment, balcony, carport
Outgoings: rates $1316/year including gst; body corp levy $5185/year
Income assessment: $520-540/week
Outcome: no bid
Agents: Selina Zheng

SugarTree, 27 Union St, unit 809:
Features: 2-bedroom apartment, 2 bathrooms, study, 2 balconies, storage locker, parking space
Outgoings: body corp levy $6999/year
Outcome: passed in at $870,000, back on market at $890,000
Agents: Livia Li & Alan Guo

Isthmus east

Epsom

1 Epsom Avenue, unit 1:
Features: cross-lease, 1/10 share in 1438m², 3-bedroom unit, balcony, carport
Outcome: no bid, back on market at $765,000
Agents: George Fong & Paul Sun

614C Manukau Rd:
Features: cross-lease, 1/4 share in 800m², 3 levels, 4 bedrooms, 4 bathrooms, 2 living areas, double internal-access garage
Outcome: no bid
Agents: Diana & Peter West

Mission Bay

Garden Court, 105 Tamaki Drive, unit 12:
Features: 2-bedroom apartment, parking space; the asset offered was 6500 shares in Garden Court Flats Ltd & the right to vacant possession of this flat
Outcome: passed in at $1 million
Agents: Andy Dye

Parnell

Farnham Terraces, 8 Farnham St, unit 2A:
Features: 140m², 2-bedroom terrace, 2 bathrooms, storage locker, tandem parking
Outgoings: body corp levy $6278/year
Outcome: passed in at $931,000
Agents: Selina Zheng & Jason Li

Royal Oak

16 Beckenham Avenue, unit 1:
Features: cross-lease, half share in 817m², 3 bedrooms, 2 bathrooms, internal-access garage
Outcome: sold for $1.301 million
Agents: Leonie Stabler & Di Lynds

St Johns

23 Strong St, unit 1:
Features: cross-lease, quarter share in 622m², 2-bedroom unit, deck, parking space
Outcome: passed in, back on market at $610,000
Agents: Cristina Casares & Jacqui Freeman

Isthmus west

Eden Terrace

10 Flower St, unit 105:
Features: 2-bedroom apartment, parking space
Outgoings: body corp levy $3912/year
Outcome: no bid
Agents: Jason Buckwell

Herne Bay

37 Sentinel Rd, unit 2:
Features: cross-lease, 1/3 share in 1442m², 3-bedroom freestanding townhouse, 2 bathrooms, attic, double garage
Outcome: sold for $1.56 million
Agents: Jack Atherton & Sherryl Jones

Mt Albert

21 Burch St, unit 6:
Features: 86m², 2-bedroom unit, balcony, garage
Outgoings: body corp levy $1040/year
Outcome: sold for $795,000
Agents: Lisa Redgrove & George Damiris

Mt Eden

69 View Rd, unit 4:
Features: cross-lease, 1/6 share in 769m², 2-bedroom apartment, offstreet parking
Outcome: passed in, back on market at $745,000
Income assessment: $540/week current
Agents: Frank Excell & Ketiesha Elliott

Commercial

Isthmus east

Onehunga

154 Captain Springs Rd:
Features: 1793m² site, 1321m² warehouse with small office, 300m² front yard, 250m from Te Papapa Station
Rent: $122,000/year net + gst + outgoings on monthly arrangement
Outcome: passed in at $2.275 million, sold for $2.476 million after further negotiation
Agents: James Marshall & Nick Wilson

Penrose

922 Great South Rd:
Features: vacant 1163m² site, 482m² warehouse, showroom & office, 450m² yard, 21 parking spaces
Outcome: passed in with no bid, sold for $1.302 million after auction reopened
Agents: Nick Wilson & James Marshall

Attribution: Auctions.

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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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10 sell at Bayleys’ commercial auction

9 properties were sold under the hammer and one post-auction of the 17 in Bayleys’ commercial auction yesterday. Another 3 were sold prior.

[Today’s report is short on some detail.]

CBD

Learning Quarter

5 Eden Crescent, units A & B:
Features: 600m² strata title, renovated, licensed karaoke bar & restaurant
Rent: $161,000/year net + gst
Outcome: passed in at $2.5 million
Agents: Oscar Kuang & Nicolas Ching

Queen St

239 Queen St, unit 1A:
Features: new 12-year lease
Rent: $150,657/year net + gst
Outcome: withdrawn from auction
Agents: Quinn Ngo & James Chan

Isthmus east

Ellerslie

38 Eaglehurst Rd, unit 7:
Features: warehouse
Outcome: declared reserve of $600,000, sold for $800,000
Agents: Andrew Wallace & Cameron Melhuish

Epsom

206 Manukau Rd:
Features: 898m² corner section,
Rent: $67,340/year holding income
Outcome: passed in at $3.55 million
Agents: Owen Ding & James Chan

Mission Bay

2 Atkin Avenue, unit 1:
Features: 374m² site zoned mixed use (up to 18m) under unitary plan, 3-bedroom unit, garage
Outcome: sold for$1.955 million
Agents: Phil Haydock & Angela Yang

Onehunga

18 George Terrace:
Features: 342m² site zoned mixed use, warehouse, office, amenities
Outcome: sold for $1.072 million
Agents: James Valintine & William Gubb

4 Newsome St:
Features: 493m², permissible height 20m
Outcome: no bid
Agents: Tony Chaudhary & James Valintine

Panmure

100 Queens Rd:
Features: town centre zone under unitary plan
Rent: $121,000/year net + gst
Outcome: passed in at $1.6 million
Agents: Mark Pittaway

Isthmus west

Eden Terrace

12 Fleet St:
Features: 336m² site
Rent: $52,260/year
Outcome: sold prior at declared reserve of $1.25 million
Agents: James Were & Scott Kirk

Mt Roskill

439 Mt Albert Rd:
Features: corner site, 4-bedroom home, internal garage, 3 commercial tenancies on ground floor
Outcome: auction postponed
Agents: Phil Haydock & Angela Yang

Ponsonby

91 College Hill:
Features: 337m² site zoned mixed use, 275m² gross floor area, 5 secure parking spaces
Outcome: sold for $2,577,500
Agents: Nigel McNeill & Meredith Graham

Sandringham

513 Sandringham Rd:
Features: retail + refurbished 3-bedroom flat
Rent: $88,060/year
Outcome: sold for $1.75 million
Agents: Scott Kirk & Damien Bullick

North-east

Northcote

44 Akoranga Drive:
Features: 946m² corner site, mixed use zone next to AUT
Outcome: sold for $2.5 million
Agents: Michael Nees & Simon Aldridge

Takapuna

6 & 6A Blomfield Spa:
Outcome: withdrawn from auction
Agents: Simon Aldridge & David Huang

Wairau Valley

170 Wairau Rd, unit 18:
Features: Hell Pizza on long-term lease
Rent: $54,000/year net + gst + outgoings
Outcome: sold for $990,000
Agents: Paul Dixon & Tony Chaudhary

North-west

Glendene

3 Bancroft Crescent:
Features: 3584m² site, long-term tenant, 6-year lease term with renewal rights
Rent: $225,000/year net + gst
Outcome: passed in at $2.775 million
Agents: Dave Stanley & Stuart Bode

New Lynn

3019 Great North Rd & 2 Bentinck St:
Features: 1459m² corner site in 2 titles, vacant possession
Outcome: passed in at $1.625 million at $1114/m²
Agents: Mike Adams & Scott Kirk

South

Botany Downs

286 Cascades Rd:
Features: 7493m² site opposite Pakuranga golfcourse, 70m frontage to Cascades Rd
Outcome: sold for $6.1 million
Agents: Dave Stanley & Graeme Sun

Botany South

Bishopsgate business centre, 2 Bishop Dunn Place, unit 32:
Features: 134m² first-floor office, storage, 2 parking spaces
Outcome: sold for $465,000
Agents: Geoff Wyatt & Dave Stanley

Takanini

292 Great South Rd:
Features: 2209m² site, standalone office & warehouse building anchored by long-term office lease + 2 warehouse tenants
Rent: $152,592/year net + gst
Outcome: sold for $2.68 million
Agents: Sunil Bhana & Peter Migounoff

South of the Bombays

Gisborne

412 Gladstone Rd:
Features: 670m² store, seismic rating 100% new building standard, 6-year lease term
Rent: $122,569/year
Outcome: passed in at $1.5 million, sold post-auction for $1.52 million at an 8% yield
Agents: Paul Garland & Colin McNab

Attribution: Auction.

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Otahuhu commercial unit & 3 apartments sell

A ground-floor commercial unit in Otahuhu attracted strong bidding at Barfoot & Thompson’s city auction today. Along with that sale, 3 of the 6 cbd apartments on the list also sold, including a penthouse in The Peaks (pictured) sold for just over $1.3 million.

Apartments

CBD

Queen St

Queen Victoria, 6 Victoria St East, unit 6M:
Features: 62m² + mezzanine 16m², 2 bedrooms
Outgoings: body corp levy $6616/year + $2493 special levy for exterior painting
Income assessment: $450/week
Outcome: passed in at $530,000
Agents: Zoran Farac & Stephen Shin

Uptown

Bianco off Queen, 2 White St, unit 12A:
Features: 61m², 2 bedrooms, balcony, out of hotel management
Outgoings: body corp levy $5718/year
Outcome: sold for $570,000
Agents: Selina Zheng & Tommy Zhang

Victoria Quarter

Auckland City Oaks, 188 Hobson St, unit 609:
Features: fully furnished one bedroom, parking space
Outgoings: body corp levy $6208/year
Outcome: no bid
Agents: Wendy Feng & Jack Li

Hobson Gardens, 205 Hobson St, unit 4G:
Features: 163m², 3 bedrooms, 2 bathrooms, balcony off lounge + bedroom balconies, parking space
Outgoings: body corp levy $6052/year + water
Outcome: no bid
Agents: Stephen Shin & Yasu Ka

Wiltshire, 89 Victoria St West, unit 10C:
Features: 2 bedrooms, 2 bathrooms, balcony, parking space will be removed from the title
Outgoings: body corp levy $4572/year
Outcome: sold for $670,000
Agents: Fiona Lee

The Peaks, 117 Victoria St West, unit 14D:
Features: 177m², 3-bedroom penthouse, 2 bathrooms, balcony, 2 parking spaces, storage locker
Outgoings: body corp levy $8923/year
Outcome: sold for $1.316 million
Agents: Livia Li & Alan Guo

Commercial

Isthmus east

Otahuhu

632 Great South Rd, unit 5:
Features: 195m², ground-floor unit, 5 parking spaces
Outcome: sold for $700,000
Agents: Grant Magill & Errol Rudman

Attribution: Auction.

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Hotel unit sells on low yield and Mission Bay church goes

A Portland Tower apartment on Queen St, in the Quest hotel pool, was sold by the mortgagee on a 4.2% yield at Bayleys’ auction today, and a Mission Bay church was also sold, future use unknown.

CBD

Queen St

Portland Tower, 62 Queen St, unit 14A:
Features: 31m², one-bedroom apartment on Quest hotel lease until 2030, balcony
Outgoings: rates $2440/year including gst
Income assessment: $12,000/year
Outcome: sold at ANZ Bank mortgagee auction for $286,500 at a 4.19% yield
Agents: Dave Hamlyn & Marcus Fava

Isthmus east

Mission Bay

69 Patteson Avenue:
Features: 1313m² section, Orakei Methodist church & hall, zone changing from residential 2B (one dwelling/600m²) to mixed housing suburban (minimum lot size 400m²)
Outcome: sold for $2.5 million at $1904/m² land
Agent: Alan Elliott

Isthmus west

Mt Albert

10 Counsel Terrace, unit 1:
Features: cross-lease, 1/3 share in 1050m², 3-bedroom townhouse, 2 bathrooms, conservatory, garage converted to fourth bedroom
Outcome: no bid
Agent: Angela Yang

Attribution: Auction.

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George Court unit sells, then all quiet

City Sales’ apartments auction started well yesterday, with the sale of a unit in the George Court building on Karangahape Rd (pictured) at over $8800/m². Then things went quiet, 2 of the remaining 5 units on offer were passed in on the sole bid of the vendor and only a few bids were made on the remaining 3.

CBD

Queen St

Portland Tower, 62-64 Queen St, unit 6C:
Features: 41m², one bedroom, 6m² deck
Outgoings: rates $1139/year including gst; body corp levy $5720/year
Outcome: passed in at $490,000
Agents: Steve Kirk & Habeeb Urrahman

Uptown

George Courts, 238 Karangahape Rd, unit 3H:
Features: 68m², one bedroom, parking space
Outgoings: rates $1734/year including gst; body corp levy $5924/year
Outcome: sold for $601,000
Agents: Gabrielle Hoffmann & Nicola Hunt

City Zone, 11 Liverpool St, unit 17K (door 1701):
Features: 45m², 2 bedrooms, deck
Outgoings: rates $1177/year including gst; body corp levy $3331/year
Outcome: passed in at $370,000
Agents: Steve Kirk & Habeeb Urrahman

Victoria Quarter

Aura, 53 Cook St, unit 310:
Features: 49m², 2 bedrooms, deck
Outgoings: rates $1113/year including gst; body corp levy $3685/year
Outcome: passed in at $380,000
Agents: Steve Kirk & Habeeb Urrahman

Waterfront

Lighter Quay, 83 Halsey St, unit 407:
Features: leasehold, 49m², one bedroom, deck
Outgoings: rates $1722/year including gst; body corp levy $2293/year, ground rent $3619/year, residents’ society levy $2312/year
Outcome: passed in after sole bid from vendor at $150,000
Agents: Gabrielle Hoffmann

Isthmus east

Mt Wellington

Ellerslie Court, 3A Harrison Rd, unit 1:
Features: 42m², one bedroom, deck, parking space
Outgoings: rates $1080/year including gst; body corp levy $2977/year
Outcome: passed in after sole bid from vendor at $300,000
Agents: Chris Bell & Lucy Piatov

Attribution: Auction.

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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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DLA Piper signs for Commercial Bay

Global law firm DLA Piper will move its Auckland office from 205 Queen St to new premises in the PwC Tower at Commercial Bay as of June 2019 as part of plans to redesign the traditional legal workspace.

Listed property investor Precinct Properties NZ Ltd has started development of the 39-floor Commercial Bay tower on the former Downtown Shopping Centre site at the corner of Customs St West & Albert St, and accountancy firm PricewaterhouseCoopers has taken naming rights. PWC has had naming rights on the tower across Albert St & fronting Quay St, also owned by Precinct, since it opened in 2003.

DLA Piper has committed to lease 2 floors in the Commercial Bay tower and said it would create a state-of-the-art, open-plan workplace environment.

DLA Piper’s global co-chief executive, Simon Levine, said yesterday: “Our vision for this new office is to create a modern, flexible workplace using the latest technology to promote collaboration and, most importantly, be a great place to work for our people & our clients. We are investing in this new office design model across the world, for example in Brisbane, Sydney & Manchester.  Our new address in Auckland supports our vision to be the leading global business law firm by combining local expertise & global presence at central business locations.”

DLA Piper’s New Zealand country managing partner, Martin Wiseman, added:  “We are proud to be part of this city-defining project. It’s unlike anything Auckland has seen before. Our new office in the PwC Tower will be a flagship location in Australasia, where visitors locally & from around the world are welcome and do business.”

He said the new design would include high quality spaces for clients, supported by state-of-the-art infrastructure services: “This means our new office will have even more impressive spaces in which to entertain our clients, network with them at events and to deliver quality training. Our environment will be open plan and junior lawyers will have more opportunities to see how experienced practitioners work. This will be an inspiring place to work.

“It is important to us that our clients have the best possible experience when they are working with us. It will give our Auckland office access to a pivotal location, modern working environments, great public transport access and a vibrant lifestyle to help attract & retain talent.”

He said DLA Piper saw many positive outcomes when it moved to 480 Queen St in Brisbane’s cbd, and Auckland would benefit from those learnings.

DLA Piper’s Brisbane office managing partner, Samantha O’Brien, said: “The move involved a change management exercise, and nearly 12 months on we feel the new space fosters more opportunities for collaboration & togetherness. The flexibility & efficiencies of space, and the new technology have impressed everyone – we couldn’t imagine going back to how it was before.”

Attribution: Company release.

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