Archive | Waterfront

Updated: Vincent St & First Imperial apartments sell

Published 8 November 2017, updated 12 November 2017:
A large unit in the converted former Beca building on Vincent St and a studio in the First Imperial on Hobson St sold under the hammer at City Sales’ auction of central city apartments today. The other 4 apartments on the auction list were passed in, 2 without a bid and one with an indicative bid for the vendor.

A CityZone unit has since been sold, price not disclosed.

CBD

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 913:
Features: 32m², one bedroom, deck
Outgoings: rates $1185/year including gst; body corp levy $3577/year
Income assessment: $440-460/week
Outcome: no bid
Agents: Maryanne Wong & Tina Bartlett

Uptown

Updated: CityZone, 11 Liverpool St, unit 1808:
Features: 48m², 2 bedrooms, deck, parking space
Outgoings: rates $1396/year including gst for unit, $130/year including gst for parking; body corp levy $4392/year for unit, $781/year for parking
Income assessment: $450/week current
Outcome: passed in at $400,000, sold Thursday, price not disclosed
Agent: Iona Rodrigues

132 Vincent St, unit GH:
Features: 100m² internal, 13m² deck, 3 bedrooms, 2 bathrooms, tandem parking
Outgoings: rates $3194/year including gst for unit + parking; body corp levy $8977/year for unit + parking
Income assessment: $850-900/week
Outcome: sold for $1.13 million
Agent: Susan Frear

Victoria Quarter

First Imperial, 125A Hobson St, unit 1A:
Features: 32m², studio
Outgoings: rates $994/year including gst; body corp levy $2492/year
Outcome: sold for $210,000
Agent: Tanya Rotherham

Sugartree Centro, 145-147 Nelson St, unit 903:
Features: 52m² internal, 5m² balcony, one bedroom + flexi
Outgoings: rates $423/year including gst; body corp levy $2916/year
Income assessment: $530-550/week unfurnished, $580/week furnished
Outcome: sole bid from vendor at $450,000, passed in
Agents: Tina Bartlett & Anna Birkenhead

Waterfront

Viaduct Point, 125 Customs St West, unit 316:
Features: leasehold, 101m², 2 bedrooms, 2 bathrooms, 2 decks, parking space
Outgoings: rates $2279/year including gst; body corp levy $18,064/year including ground rent $9349/year
Outcome: no bid
Agents: Gabrielle Hoffmann & Nicola Hunt

Attribution: Auction.

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Waterfront & Symonds St apartments sell

2 central city apartments were sold under the hammer – in the waterfront Quay Regency and on Symonds St – and 2 were passed in at Bayleys’ auction yesterday.

CBD

Learning Quarter

96 Symonds St, unit 1401:
Features: 2 bedrooms
Outgoings: rates $1331/year including gst; body corp levy $4849/year
Income assessment: under management, lease renewed to December 2025, rent $22,360/year
Outcome: sold for $250,000
Agent: Marcus Fava

Quay Park

Scene 1, 2 Beach Rd, unit 1510:
Features: leasehold, 2-level penthouse, 3 bedrooms, 2 bathrooms, 2 balconies, 3 parking spaces, remedial work pending
Outcome: sold in July for $359,000, no bid today
Agents: Marcus Fava & Paul Sissons

Victoria Quarter

Heritage Farmers, 35 Hobson St, unit 707:
Features: 31m² studio
Outgoings: body corp levy $5683/year
Income assessment: in hotel pool until March 2018, guaranteed monthly returns
Outcome: passed in at sole bid of $200,000
Agents: Carl Russell & Hamish Duke

Waterfront

Quay Regency, 148 Quay St, unit 3E:
Features: 93m², 2 bedrooms
Outgoings: rates $2097/year including gst; body corp levy $5220/year
Outcome: sold for $640,000
Agents: Harry Cheng & Cheryl Regan

Attribution: Auction.

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Updated: Takapuna properties bought on development-based yields as 9 sell at Bayleys’ commercial auction

Published 26 October 2017, updated 28 October 2017:
Bayleys’ 7th Total Property commercial auction in Auckland for the year ended with 9 properties sold, 8 passed in, and the auction of the one remaining property on the list was deferred a week. Another, in Birkenhead, has been sold post-auction.

The sales included 2 adjoining converted houses (pictured) on Lake Rd, Takapuna, sold at yields on present uses of 2.7% & 4.1%. Both have more intensive development potential.

CBD

Waterfront

Sebel, 85-93 Customs St West, unit S:
Features: leasehold, 628m² floor area, tenant Soul Bar on 9-year lease + rights of renewal until 2038
Rent: $437,500/year net + gst + outgoings including ground rent, rent reviews to CPI + fixed increases
Outcome: passed in
Agent: Mark Pittaway

16 Viaduct Harbour Avenue, unit 1A, ground floor:
Features: leasehold, 439m² office including balcony, 5 secure covered parking spaces
Rent: $248,500/year gross + gst, net $124,026/year + gst, 6-year lease to Auckland Council with rights of renewal
Outcome: passed in
Agent: Mark Pittaway

Isthmus east

Onehunga

360 Onehunga Mall:
Features: 538m² site zoned residential – terrace housing & apartment building, 2-level 341m² building constructed in 2010, ground-floor liquor store, 4-bedroom accommodation above
Rent: $93,712.50/year net + gst
Outcome: sold for $1.96 million at a 4.78% yield
Agents: Ken Lu, Damien Bullick & Alan Haydock

Panmure

100 Queens Rd:
Features: 979m² site, 1701m² floor area, multi-tenanted retail property
Rent: $131,181/year net + gst + outgoings, rising to $139,432/year next April 
Outcome: auction deferred until Wednesday 6 December
Agent: Mark Pittaway

Penrose

766 Great South Rd:
Features: 998m² site, 300m² single-level medical clinic, multiple tenants include GP practice, physiotherapist, occupational therapist & accountant
Rent: $65,050/year net + gst
Outcome: sold for $1.065 million at a 6.11% yield
Agents: Tony Chaudhary, Janak Darji, James Hill & James Chan

25 Walls Rd:
Features: 1037m² light industry-zoned site, 702m² high stud warehouse & office building, new 6-year lease to well established import & distribution tenant
Rent: $106,302/year net + gst     
Outcome: sold for $2.305 million at a 4.61% yield
Agents: Mike Adams & Phil Haydock

Isthmus west

Mt Eden

54 Mt Eden Rd:
Features: 400m² site zoned mixed use, in Grammar zone, 130m² villa, garage + 3 parking spaces
Outcome: passed in at $1.4 million
Agents: Alan Haydock, Phil Haydock & Damien Bullick

North-east

Birkenhead

221-225 Hinemoa St:
Features: 522m² floor area, medi-spa & beauty salon a tenant since 2004 & on new 5-year lease, 2 small shops, penthouse apartment
Rent: $122,304/year net + gst from commercial premises, apartment vacant
Outcome: passed in at $3.5 million
Agents: James Kidd & Michael Nees

Updated: 60-62 Mokoia Rd:
Features: 405m² site in town centre zone (21m height limit) retail strip, 744m² floor area, 3 tenants
Rent: $131,018.33/year net + gst + outgoings
Outcome: passed in at $2.2 million, sold shortly after auction for $2.3 million at a 5.7% yield
Agents: Michael Nees & Nick Howe-Smith

Takapuna

58-60 Jutland Rd:
Features: 371m² site zoned neighbourhood centre (13m height limit), 398m² 2-level building with mix of commercial & residential tenancies – 3 ground-floor retail units, anchored by a superette, 2 flats above; secondary access at the rear, where there are 4 parking spaces
Rent: $100,088/year net + gst current, development upside   
Outcome: sold for $2.09 million at a 4.79% yield
Agents: Adam Curtis, Damian Stephen & Nick Howe-Smith

398 Lake Rd:
Features: 888m² site in mixed use zone, 321m² 2-level building; the Skin Institute has occupied the premises since 1994 and has recently renewed its lease until September 2023, with 3 further 3-year rights of renewal; zoning provides potential for residential accommodation with sea views on top of commercial base
Rent: $165,000/year/net + gst    
Outcome: sold for $4.04 million at a 4.08% yield
Agents: Ranjan Unka, Tonia Robertson & Ashton Geissler

400 Lake Rd:
Features: 890m² site zoned mixed use, 272m² converted split-level character residential building, fully leased to long established law firm Turner Hopkins with 5½ years to run on lease, longer-term potential for multi-level redevelopment
Rent: $96,000/year net + gst
Outcome: sold for $3.61 million at a 2.66% yield
Agents: Tonia Robertson, Ranjan Unka & Terry Kim

North-west

Henderson

42 Paramount Drive, units 6 & 7:
Features: 280m² for 2 units consented for restaurant use, separate entrances, in retail complex off Lincoln Rd
Outcome: sold vacant for $1.408 million
Agents: David Han, Terry Kim & Matt Lee

South

Beachlands

40 9th View Avenue:
Features: 1416m² site zoned residential – terrace housing & apartment building, opposite entranceway to Pine Harbour marina, modern 640m² single-level showroom building;
Rent: $36,443/year holding income
Outcome: sold for $1.65 million from lease to Pine Harbour Motorsport Museum
Agents: Nick Bayley & Dave Stanley

East Tamaki

46 Neilpark Drive:
Features: 2100m² site, 2 adjoining clearspan warehouse & office units totalling 1012m²
Rent: $110,000/year net + gst holding income from short-term leaseback of both units to vendor
Outcome: sold shortly after auction for $2.65 million
Agents: Katie Wu, John Bolton & Roy Rudolph

Papakura

80 Hunua Rd, lot 2:
Features: 9453m² site, 6302m² warehouse
Rent: $360,000/year net + gst     
Outcome: passed in at $4 million
Agents: Shane Snijder & Peter Migounoff

Wiri

55 Ash Rd, unit 4:
Features: 200m² unit in industrial precinct, parking
Rent: $28,600/year net + gst
Outcome: passed in at $625,000
Agents: Karl Price & Nick Bayley

South of the Bombays

Manawatu – Dannevirke

69 High St:
Features: 617m² site, 693m² building, long-term tenant Westpac on new 5-year lease, 3 more 3-year rights of renewal, second tenant Cooly Properties Ltd on one-year lease to end of next year
Rent: $59,000/year net + gst from bank, $30,000/year net + gst from second tenant
Outcome: no bid
Agent: Rollo Vavasour

Attribution: Auction.

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Singaporeans follow up Queen St deal with NZI Centre purchase

A Singapore company which focuses on residential development & the hospitality sector has bought IAG NZ Ltd’s New Zealand headquarters, the NZI Centre at 1 Fanshawe St in Auckland, for $63 million.

It’s Roxy-Pacific Holdings Ltd’s second New Zealand purchase, following acquisition of 205 Queen St in August in partnership with another Singaporean investor, Chip Eng Seng Corp Ltd.

Both properties sit on leasehold land.

Roxy-Pacific said in its 28 September announcement on the NZI Centre deal that it was subject to conditions, without indicating a timeframe, which included “the transfer of the interest in the ground lease as contemplated by the agreement”. The company gave no detail on that. The next ground lease renewal is scheduled for 31 December 2036.

The NZI Centre, 9446m² of office space on 5 floors plus a basement on a 2604m² site at 1 Fanshawe St, was developed by Newcrest Group Ltd, completed in 2009 and fully leased to IAG NZ Ltd for an initial term of 15 years. It was designed for IAG, the Australian insurance company which owns New Zealand’s NZI & State brands. It’s a campus-style office development with a full-height atrium and features such as under-floor air, twin-skin façade and a green roof, making it one of the most energy-efficient office buildings in New Zealand.

205 Queen St, and the investment rationale

The new owner will be a $2 subsidiary of Roxy-Pacific, Roxy-Pacific NZI Ltd.

Roxy-Pacific & Chip Eng Seng bought 205 Queen St (the former National Bank Centre) for $174 million at the start of August.

It has net lettable area of 25,381m² in 2 towers of 17 & 22 storeys and a retail podium on a 3764m² site bound by Queen, Victoria, Elliot & Darby Sts. The property has a ground lease term until June 2081, with a right of renewal for a further 98 years until June 2179.

Roxy-Pacific executive chair & chief executive Teo Hong Lim said when the company bought 205 Queen St: “Following the successful divestment of the 59 Goulburn St property in Sydney at an attractive yield, we have wasted no time in recycling the capital into another yield-accretive investment to strengthen our recurring income streams.

“This acquisition marks our maiden entry into the New Zealand commercial market, where we see an opportunity to capitalise on its upward trending market cycle. With favourable market indicators, we are optimistic to raise occupancy to 100% (from 96.4% on acquisition) in the near future so as to maximise rental yield.”

The investors

Roxy-Pacific, listed on the Singapore Stock Exchange’s main board since 2008, says it’s principally engaged in the development & sale of residential & commercial properties, and also has a hospitality business. Its residential development projects typically comprise small-to-medium sized residential developments such as apartments & condominiums targeted at middle-to-upper income segments. Between 2004-16, the group developed & launched 43 small-to-medium sized developments comprising over 4000 residential & commercial units in Singapore, Malaysia & Australia.

The group’s hospitality portfolio comprises its flagship hotel in the heart of historical Singapore precinct Katong, the Grand Mercure Singapore Roxy, franchised to AccorHotels.

In 2015, Roxy-Pacific launched its first upscale boutique hotel under the Noku Roxy brand in Kyoto, Japan, and has resorts in the Maldives & Phuket, Thailand, in the pipeline. The group also owns 52 shops at the Roxy Square Shopping Centre in Singapore and holds a 50% interest in a 14-storey, freehold commercial building at 117 Clarence St in Sydney’s cbd.

Chip Eng Seng, listed in 1999, is involved in property development, investment, construction & hospitality in Singapore, Australia, Malaysia & Vietnam. It entered the public housing market in Singapore in 1982 with its first Housing & Development Board construction project, and entered the hospitality sector in 2015, when it opened its first hotel, Park Hotel Alexandra in Singapore. Since then, it’s added 2 properties to the portfolio, a 120-villa Maldivian island resort, Grand Park Kodhipparu and an 84-room hotel, The Sebel Mandurah, south of Perth in Western Australia.

Chip Eng Seng said: “Harnessing its position as a leading industry player, it plans to build on the strength of its property portfolio by strategically growing its presence in new key markets when the right opportunity arises. Chip Eng Seng is actively developing new ways of creating synergies amongst the business segments, while exploring strategic partnerships to boost its competitiveness in the region and bolster all aspects of its operations.”

Links:
Roxy-Pacific
Chip Eng Seng

Attribution: Company releases.

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2 apartments sell at Ray White auction

2 of the 5 units auctioned at Ray White City Apartments today were sold under the hammer, one in the Grand Chancellor hotel building and the other in Eden Terrace.

CBD

Learning Quarter

Forte, 37 Symonds St, unit 1302:
Features: 48m² corner unit, 2 bedrooms, balcony
Outgoings: rates $1383/year including gst; body corp levy $4149/year, special levy $703 to fireproof riser shafts
Income assessment: $500/week fixed until 30 April, appraisal $530-560/week furnished
Outcome: passed in after bid at $300,000, vendor bid at $400,000
Agents: May Ma & Mark Li

Uptown

Q Central, 36 Liverpool St, unit 3A:
Features: leasehold, 59m², 2 bedrooms
Outgoings: rates $1188/year including gst; body corp levy $3534/year, ground rent $7173/year, next ground lease review December 2018
Income assessment: $1894/month on Housing NZ lease expiring in March 2019
Outcome: passed in on sole bid from vendor of $100,000
Agents: May Ma & Mark Li

Victoria Quarter

Grand Chancellor, 1 Hobson St, unit 803:
Features: 57m², one bedroom, with a new title excluding the parking space (and reducing rates & body corp levy accordingly)
Outgoings: rates $1812/year including gst; body corp levy $4763/year
Outcome: sold for $612,000
Agent: Josh Muriwai

Waterfront

Sebel Suites, 85 Customs St, unit 610:
Features: leasehold, 57m², one bedroom, study, balcony overlooking Viaduct Basin
Outgoings: rates $1913/year including gst; body corp opex levy $8852/year, ground lease $6806/year
Income assessment: $500/week current, appraisal $620-680/week furnished
Outcome: passed in at $201,000
Agents: Damian Piggin & Daniel Horrobin

Isthmus west

Eden Terrace

10 Ruru St, unit 9:
Features: 114m², 3 levels, 2 bedrooms, deck, tandem internal-access garage, storage
Outgoings: rates $1596/year including gst; body corp levy $2913/year
Income assessment: appraisal $650-700/week
Outcome: sold for $700,000
Agent: Krister Samuel

Attribution: Auction.

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Council starts public process for city centre & waterfront planning refresh, plus 3 subdivision plan changes

Auckland Council’s planning committee agreed yesterday to a refresh programme for the city centre & waterfront, but it will be 10 months before the final version of it is decided.

It’s also complicated by requirements evolving for the America’s Cup yachting contest to be held in Auckland in 2019, and where the estimated 30,000m² of land for the bases plus water spaces for the yachts might go.

The large programme of works for city centre & waterfront would be implemented under a review of the original central business district & waterfront plans completed in 2012.

But first the councillors & Independent Maori Statutory Board members have to put their money caps on, in their roles as the finance & performance committee, to prioritise works. That committee’s scheduled to meet (twice) in a fortnight.

And then the whole shebang has to go out to public consultation early next year as part of the council’s long-term plan review, returning to the council for signoff just before the start of the new financial year on 1 July 2018.

3 plan changes & a tidy-up under the new unitary plan

A second novelty yesterday came in the form of 4 plan changes – the first batch under the super-city’s unitary plan, which combines an updated composite of all the district plans of the councils 7 territorial predecessors and also includes an updated regional policy statement.

The unitary plan is still not fully operative, with parts of it before the courts. 2 of the proposed changes to it before the committee yesterday were private – from Karaka & Drury Ltd (Charles Ma) to extend its Auranga subdivision at Drury, and from Fletcher Residential Ltd, recognising an agreement with opponents of the company’s Three Kings quarry residential development.

The other 2 plan changes were brought by the council, one for its rezoning of land at Whenuapai from future urban so development can start on part of it over the next 4 years, with later stages set for development starting in 2028.

The last change, from the council, is to correct technical errors & anomalies discovered in the unitary plan.

  • You can check the detail in the refresh and the plan change proposals through the links below. I’ll roll out articles on each of them, and yesterday’s debate, over the next few hours.

Planning committee agenda, Tuesday 5 September
9, City centre & waterfront planning refresh
11, Auckland unitary plan (operative in part) – private plan change request from Karaka & Drury Ltd – Auranga B1
12, Auckland unitary plan (operative in part) – private plan change request by Fletcher Residential Ltd – Three Kings 
13, Auckland unitary plan (operative in part) – proposed plan change – Whenuapai 
14, Auckland unitary plan (operative in part) – proposed plan change – administrative plan change – to correct technical errors & anomalies

Story, 1 September 2017: Grand downtown & waterfront plans raise the question: The money?

Attribution: Council committee agenda & meeting.

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Grand downtown & waterfront plans raise the question: The money?

Some grand plans to advance Auckland Council’s 5-year-old waterfront & city centre plans will go to the council’s planning committee on Tuesday.

Image above: A Wynyard Quarter “regional destination park” is proposed at the outer point where the idea of an iconic structure was early tossed around.

2 words are central to the planning review: “Whose money?”

Take these 4 statements sprinkled through the report to the committee:

  • “The proposed funding & delivery scenarios are to be interrogated & tested during the long-term plan process. Priority projects will be supported by business cases, including a total value analysis. Once decisions have been made, they will be incorporated into the long-term plan public consultation.”
  • “For Wynyard Quarter, key drivers for the refresh include the need to create more feasible development packages, in order that returns from private development can contribute to the costs of public infrastructure & open space.”
  • “A realignment of the Wynyard Point park… delivering more rational development sites for private investment.”
  • “Funding is in place for the Auckland Transport bus projects but a realignment of or addition to budgets for other projects will be required.”

Those financial points are crucial to how streets around the central city and the waterfront itself are to offer better use, and how public transport will fit, but they aren’t the priority.

What is priority is to unleash a feast of ideas. What ought to be priority is a co-ordinated view of how these ideas can be brought forward practically, and funded.

Weighing on the offer are these:

  • The future of the port’s 2 functions, cruise & cargo
  • Hosting of the America’s Cup and hosting of the APEC (Asia-Pacific Economic Co-operation) meeting, both in 2021.

Devising a programme and working out the requirements for the yachting event make sense because it’s a mega-dollar occasion from which Auckland stands to profit enormously. The visit of the foreign politicians is one the city ought to be able to take in its stride.

The next round of publicly discussing the council’s future port study is scheduled for the planning committee’s October meeting. Again, money is the key feature – firstly, what Auckland stands to lose by sending the freight business out of town; secondly, what it might gain by having a new port conveniently nearby; thirdly, how a cruise sector perhaps treble the size it is now can be accommodated.

Down at ground level, the planning report touches on bus routes, pedestrian & cycle-friendly access between the city waterfront & Wynyard Quarter, and pedestrian boulevarding the city-centre few blocks of Quay St (though it’s not spelled out quite so plainly).

But for all the focus on improving public transport access, the report suggestions emanating from Auckland Transport would have isthmus bus commuters at the bottom of town walking about 3 blocks further than they do now to reach their stop. Without too much cover from the elements.

The whole committee series of workshops has been conducted behind closed doors, and there is no apparent reason for that, other than the belief that participants in a discussion should be free to speak their minds without the rest of the world hearing, without statements being taken out of context, and – most importantly, but usually knocked back to least important – without the public being taken on the discussion journey until something concrete is laid out.

What is mapped out is the use of the public realm – affecting many private interests – and if discussion is public there’s a good chance somebody outside the forum will add an idea that hadn’t been thought of.

Despite the freedom of all that private discussion, the answer to the crucial financial questions is not in the agenda. If the council runs to form, it will skirt the question and the uncertainty will remain.

The report’s authors were Senior Panuku project planning leader Joanna Smith, Panuku & Ateed cruise project manager John Smith and Auckland Transport city centre & rapid transport network initiatives manager Daniel Newcombe.

Plan changes on the way

Also on the agenda for the planning committee’s meeting on Tuesday are a number of plan changes for the Auranga development at Drury, from Fletcher Residential Ltd at 3 Kings, for Whenuapai and to correct technical errors & anomalies in the unitary plan, which is now largely operative.

Links:
Planning committee agenda, Tuesday 5 September (9.30am, Town Hall)
9, City centre & waterfront planning refresh
11, Auckland unitary plan (operative in part) – private plan change request from Karaka & Drury Ltd – Auranga B1
12, Auckland unitary plan (operative in part) – private plan change request by Fletcher Residential Ltd – Three Kings 
13, Auckland unitary plan (operative in part) – proposed plan change – Whenuapai 
14, Auckland unitary plan (operative in part) – proposed plan change – administrative plan changeto correct technical errors & anomalies

Attribution: Council committee agenda, mayoral release.

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Slow, but a 61% success rate at auctions

Image above: The Oxford on Mount St – one apartment sold, one passed in.

It took auctioneer Murray Smith 30 minutes & much twiddling of his thumbs this morning before he banged his hammer down for the sale of one apartment. Next up, there were 3 bidders and a sale ensued in a few minutes.

In 5 sessions this week, auctioneers at Barfoot & Thompson’s city office put through 41 residential properties, 16 of them which I categorise as intensive (apartments, townhouses, suburban units – I wasn’t at all sessions and don’t know if any others were cross-leased).

A year ago, that would have been the throughput on a Wednesday or Thursday morning, so volume is well down.

But the sales ratio under the hammer this week was strong – 25 sold out of 41 homes offered, a 61% success rate. For the intensives, 9 sold out of 16 offered, a 56% success rate.

CBD

Albert St

Quay West, 8 Albert St, unit 1202:
Features: 74m², one-bedroom apartment, balcony, parking space
Outcome: sold for $695,000
Agents: Cici & Miro Wang

Commerce/Gore

HarbourCity, 16 Gore St, unit 28I:
Features: 38m², one-bedroom apartment
Outgoings: body corp levy $2851/year, $5099 special levy for leaks remediation
Outcome: sold for $279,000
Agent: Jason Buckwell

Federal St

207 Federal St, unit 506:
Features: 61m², 2-bedroom apartment, balcony
Outcome: sold for $536,000 at auction brought forward
Agents: Cici & Miro Wang

Learning Quarter

Celestion, 19 Anzac Avenue, unit 1002:
Features: 55m² apartment including balcony, 2 bedrooms
Outgoings: body corp levy $4536/year
Outcome: sold for $535,000
Agents: Zoran Farac & Leo Shin

Oxford, 13-15 Mount St, unit 4H:
Features: 34m² studio, deck
Outgoings: body corp levy $2147/year
Outcome: sold for $290,000
Agents: Leo & Stephen Shin

Oxford, 13 Mount St, unit 13F:
Features: 42m², one-bedroom apartment
Income assessment: $360/week current
Outcome: passed in
Agent: Yuyu Cao

Victoria Quarter

Marina Park, 146 Fanshawe St, unit 12:
Features: one-bedroom apartment, garage
Outcome: withdrawn from auction
Agents: Bella Stefano & Sherry Shao

Waterfront

Princes Wharf, 137 Quay St, unit 10:
Features: leasehold, 57m², one-bedroom apartment, balcony
Outgoings: 5-yearly ground rent review has been replaced with a fixed annual increase of 3% or CPI, whichever is greater
Outcome: no bid, back on market at $228,000
Agent: Anah Jordan

Isthmus east

Ellerslie

178A Ladies Mile:
Features: 3-bedroom standalone townhouse, deck, carport
Outcome: passed in at $730,000
Agents: Anna Stephens-Brown

Epsom

22 Rangiatea Rd, unit 3:
Features: 98m², 2-bedroom unit, garage, storage, 2-year-old roof, ceiling insulated
Outcome: passed in at $880,000
Agent: Helen Lam

Mt Wellington

51 Ireland Rd, unit 41:
Features: 2-bedroom terrace, study, carport, in gated complex
Outcome: passed in at $480,000, back on market at $560,000
Agent: Kevin Liu

Panmure

10B Allenby Rd:
Features: 2-bedroom upstairs end unit, garage, storage
Outcome: no bid
Agents: George Fong & Paul Sun

Parnell

28C Stanwell St:
Features: 2-bedroom garden apartment, 2 bathrooms, study, courtyard, 2 parking spaces
Outcome: sold for $775,000
Agent: Cindy Yu

St Johns

35 Simkin Avenue, unit 2:
Features: 2-bedroom unit, carport, basement workshop
Outcome: passed in, back on market at $698,000
Agent: May Long

Isthmus west

Mt Eden

14 Lovelock Avenue, unit 10:
Features: 2-bedroom apartment, balcony, parking space
Outcome: sold for $640,000
Agent: Prasanna Kumar & Aaron Julian

Waterview

1510 Great North Rd, unit 15:
Features: 88m², 3-bedroom apartment, 2 bathrooms, parking space, newly reclad & code compliance certificate issued in January
Outcome: sold for $380,000
Agents: David Dowse & Susie Calderwood

North-west

Henderson

16 Buscomb Avenue:
Features: 1033m² site, 3-bedroom house + 2 separate 2-bedroom units, all redecorated, new kitchens & bathrooms; house has basement garage, carport, storage; units have their own entrance from Sel Peacock Avenue, offstreet parking; zoned terrace housing & apartments
Outcome: sold for $1.771 million
Agent: Jim Murray

Attribution: Auctions, auction documents.

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After considerable haggling, third apartment sells at auction

3 of the 4 apartments auctioned at Ray White City Apartments today were sold under the hammer.

The third sale, of a unit in the Altitude on Kingston St (picture shows view from balcony), followed what auctioneer Ted Ingram said was a considerable drop in the “want price”, and considerable haggling between auctioneer & several bidders after Mr Ingram entered a vendor bid at $350,000.

But he was unable to perform the same magic for the last property on offer, a dual-key unit in the Bianco off Queen whose owner wanted to pass all liability for future remediation to the buyer.

A fifth unit, in the Sebel Suites at the Viaduct Basin, was withdrawn from the auction.

CBD

Learning Quarter

Celestion, 19 Anzac Avenue, unit 1103:
Features: 60m², 2 bedrooms, 16m² deck, no parking but available in area to rent at $75-100/week
Outgoings: rates $6879/year including gst; body corp levy $5670/year
Outcome: sold vacant for $527,000
Agent: Dominic Worthington

Uptown

Bianco off Queen, 8 White St, unit 9E:
Features: 84m², furnished dual-key apartment – 2-bedroom & studio, bathroom each part, parking space; the apartment was auctioned without a warranty for weathertightness or structural integrity, for which the buyer would take on liability
Outgoings: rates $1747/year including gst; body corp levy $9561/year
Income assessment: under hotel management, current rent $2800/month; appraisal: 2-bedroom $560-580/week furnished, studio $350-370/week furnished
Outcome: sole bid by vendor at $600,000, passed in
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Victoria Quarter

Hobson Heights, 208 Hobson St, unit 6D:
Features: 42m², corner 2 bedrooms, 10m² balcony
Outgoings: rates $1126/year including gst; body corp levy $4605/year
Income assessment: $400/week fixed until 30 September under management agreement, which can be terminated on 6 months’ notice
Outcome: sold for $350,000
Agents: Judi & Michelle Yurak

Altitude, 34 Kingston St, unit 18D:
Features: 40m², 2 bedrooms
Outgoings: rates $1214/year including gst; body corp levy $4920/year
Income assessment: $410/week, increase to $450/week set for 9 October, appraisal $460-490/week furnished
Outcome: sold for $360,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Waterfront

Sebel Suites, 85 Customs St West, unit 210:
Features: one bedroom, parking space
Outcome: withdrawn from auction
Agents: Damian Piggin & Daniel Horrobin

Attribution: Auction.

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2 leasehold units plus one in Metropolis sell at auction

2 leasehold apartments – one in the Docks and the other in the Sebel Auckland Viaduct Harbour – plus a unit in the Metropolis were sold at Ray White City Apartments’ auction yesterday, leaving 4 other units unsold.

2 units in the Spencer on Byron hotel in Takapuna were passed in, and a third was withdrawn before the auction started.

CBD

Albert St

Quay West, 8 Albert St, unit 2302:
Features: 74m², one bedroom
Outgoings: rates $1785/year including gst; body corp levy $8433/year
Income assessment: $650-700/week furnished
Outcome: passed in at $565,000
Agent: Ron Yang

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1902:
Features: 52m², corner one bedroom, storage locker, parking space
Outgoings: rates $1595/year including gst; body corp levy $7037/year
Income assessment: $620/week current
Outcome: sold for $616,000
Agent: Dominic Worthington

Quay Park

The Docks, 4 Dockside Lane, unit 224:
Features: leasehold, 30m², one bedroom, remediation of building underway
Outgoings: rates $1037/year including gst; body corp levy $4359/year including ground rent of $1675/year; terminating leasehold from 2011 for 150 years, ground rent reviewed every 7 years, next review November 2018
Income assessment: $390/week current
Outcome: sold for $121,000
Agent: Dominic Worthington

Uptown

Oxford, 13-17 Mount St, unit 5K:
Features: 54m², 2 bedrooms, parking space
Outgoings: rates $1278/year including gst for unit, $1262/year for parking; body corp levy for unit $3624/year, parking $626/year
Income assessment: $650-700/week furnished
Outcome: passed in after the sole bid, from the vendor, at $600,000
Agents: May Ma & Mark Li

Waterfront

Sebel, 85 Customs St West, unit (door) 615:
Features: leasehold, 57m², one bedroom, study area, 7m² balcony
Outgoings: rates $/year including gst; body corp levy $18,038/year, including $7840/year ground rent
Outcome: sold for $300,000
Agents: Judi & Michelle Yurak

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 501:
Features: 59m², fully furnished one bedroom
Outgoings: rates $2190/year including gst; body corp levy $2982/year excluding gst
Income assessment: in hotel management pool
Outcome: passed in at $175,000 + gst
Agents: James Mairs & Gillian Gibson

Spencer on Byron, 9-17 Byron Avenue, unit 612:
Features: 48m², fully furnished one bedroom, parking space
Outgoings: rates $1195/year including gst; body corp levy $3140/year
Income assessment: $550/week, fixed until 30 September
Outcome: passed in at $275,000 + gst
Agents: James Mairs & Gillian Gibson

Spencer on Byron, 9-17 Byron Avenue, unit 712:
Features: 2 bedrooms
Outcome: withdrawn from auction
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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