Archive | Eastern bays

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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2 large units sell in Epsom & Mission Bay

An Epsom townhouse and the middle apartment (lit) of 3 in a block above Mission Bay’s beach were sold at Bayleys auctions this week.

Isthmus east

Epsom

9A Onslow Avenue:
Features: 2-bedroom townhouse, garage
Outcome: sold for $1.29 million
Agent: Lindy Lawton

Mission Bay

19 Selwyn Avenue, unit 2:
Features: cross-leased, 1/3 share in 1196m², 165m² including balconies, air-conditioned 3-bedroom apartment, 2 bathrooms, lift, study, 2 parking spaces
Outgoings: rates $5302/year including gst, maintenance fee $1800/year
Outcome: sold for $3.1 million
Agents: Gary & Vicki Wallace

Attribution: Agency release.

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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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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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April start for Tamaki Drive intersection upgrade

A $7 million upgrade for the intersection of Tamaki Drive & Ngapipi Rd is scheduled to start in April after an independent hearings panel approved Auckland Transport’s proposal.

The waterfront route to the eastern suburbs carries 30,000 vehicles/day.

Auckland Transport’s major capital group manager, Andrew Scoggins, said last week it was one of Auckland’s most dangerous intersections: “21 crashes have been recorded at the intersection in the past 5 years, with 13 resulting in injury. Tamaki-Ngapipi is ranked number 10 on the national top 100 list of crash risk intersections.

Image above: An artist’s impression of the upgraded intersection.Link: Tamaki-Ngapipi project overview

Attribution: Auckland Transport release.

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Tamaki Drive section sells

A section across Tamaki Drive from Kohimarama Beach, currently in flats, was sold for $5836/m² at Bayleys’ Remuera branch auction this week.

At other auctions around the region, the agency sold a townhouse in Greenlane and a unit in Mangere Bridge. A development site at Riverhead was passed in.

Isthmus east

Greenlane

259A Campbell Rd:
Features: 3-bedroom townhouse, 2 bathrooms, office, storage room, double internal-access garage
Outcome: sold for $1,206,500
Agent: Glenn Baker

Kohimarama

263 Tamaki Drive:
Features: 891m² section across road from beach, in 4 flats of 1-2 bedrooms
Outcome: sold for $5.2 million at $5836/m²
Agents: Murray Wallace & Robert Ashton

North-west

Riverhead

263 Riverhead Rd:
Features: 6.55ha in development location, 4-bedroom house, barn, garage, land leased for strawberry-growing
Outcome: passed in
Agents: Craig Bishop & Ailsa McArthur

South

Mangere Bridge

7 Mona Avenue, unit 3:
Features: 3-bedroom unit, internal-access garage
Outcome: sold for $625,000
Agent: Steve Coppard

Attribution: Agency release.

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8 of 28 apartments & cross-leases sell at Barfoots

8 apartments, townhouses & suburban cross-leased properties were sold out of 28 offered at Barfoot & Thompson’s auctions in its city office this week. The auction for another 2 Docks apartments was postponed.

All up, 16 of the 60 residential properties taken to auction were sold, and no bid was offered on 26.

The one commercial property auctioned, a West Auckland industrial unit taken to court-ordered auction by the body corporate, was sold under the hammer.

Commercial

North-west

Glen Eden

9 Westward Ho Rd, unit H + accessory unit 16 (parking):
Features: single-level industrial unit, parking space, taken to auction by body corporate
Outcome: sold at court-ordered auction for $195,000
Agents: Colin Stewart & Philip Davis

Apartments & suburban cross-leases

CBD

Federal St

Hampton Court, 182 Federal St, unit 5C:
Features: 47m², one-bedroom apartment
Outcome: no bid
Agents: Stephen Shin & Justin Choi

Learning Quarter

Tower Hill, 1 Emily Place, unit 2C:
Features: 78m², 2-bedroom apartment, 33m² courtyard, carport
Outcome: no bid
Agent: Alan Vessey

Quay Park

The Docks, 2 Dockside Lane, unit 203:
Features: leasehold, one-bedroom apartment, balcony, parking space
Outcome: auction postponed
Agent: Sudesh Kumar

The Docks, 8 Dockside Lane, unit 236:
Features: leasehold, one-bedroom apartment, parking space
Outcome: auction postponed
Agent: Sudesh Kumar

Victoria Quarter

Harvard, 147 Hobson St, unit GJ:
Features: 2-bedroom apartment, deck, secure parking space
Outcome: no bid
Agents: Simon Cai & Julie Tri

Wiltshire, 89 Victoria St West, unit 10B:
Features: 56m², one bedroom, balcony
Outgoings: body corp levy $2676/year
Outcome: passed in
Agent: Fiona Lee

Isthmus east

Mission Bay

16 Atkin Avenue, unit 6:
Features: cross-lease, 1/8 share in 1664m², 3-bedroom apartment, balcony, tandem garage
Outcome: sold for $1.75 million
Agent: Dennis Dunford

9 Marua Crescent, unit 11:
Features: cross-lease, 1/12 share in 1011m², one-bedroom apartment, deck, carport
Outcome: passed in
Agent: Lynette Boyd

Panmure

60 Jellicoe Rd, unit 3:
Features: cross-lease, 1/6 share in 1012m², one-bedroom unit, deck, backyard, carport
Outcome: sold for $420,000
Agent: Jessie Yang

Remuera

27B Dell Avenue:
Features: cross-lease, 1/3 share in 903m², 3 bedrooms, garage
Outcome: sold for $1.41 million
Agents: Kathy Bower & Julie Fitzpatrick

12 Kelvin Rd:
Features: cross-lease, half share in 1292m², 4 bedrooms, study, double garage
Outcome: no bid
Agent: Duncan Wu

40A Monteith Crescent, unit G:
Features: 3 bedrooms, conservatory, double garage
Outgoings: body corp levy $1741/year
Outcome: no bid
Agents: Angus Campbell & Michael Bacher

1 Shore Rd, unit 16:
Features: standalone house on 200m² freehold section, 4 bedrooms, carport
Outcome: sold for $1.265 million
Agent: Liz Derbyshire

St Heliers

28 Tarawera Terrace, unit 1:
Features: cross-lease, quarter share in 1586m², 4 bedrooms, internal-access garage
Outcome: sold for $1.87 million
Agents: Bob Gordon & Trevor Wyness

Isthmus west

Eden Terrace

Der Rohe, 10 Flower St, unit 104:
Features: 57m², 2-bedroom apartment, deck
Income assessment: $450/week current
Outcome: passed in, back on market at $500,000
Agents: Aaron Cook & Betty Shao

15 Rendall Place, unit 503:
Features: 2-bedroom apartment, balcony basement parking space, storage locker
Outgoings: body corp levy $3732/year
Outcome: passed in
Agent: Anna Stephens-Brown

Grey Lynn

6 Schofield St, unit 10:
Features: 3-bedroom terrace, deck, carport
Outgoings: body corp levy $4596/year
Outcome: sold for $800,000
Agent: Liz Derbyshire

Hillsborough

15 Currie Avenue, unit 1:
Features: cross-lease, half share in 766m², 2-bedroom unit, basement garage & storage
Outcome: sold for $687,000
Agent: Robin Cross

Mt Eden

40 Horoeka Rd, unit 2:
Features: cross-lease, 1/9 share in 931m², 2-bedroom unit, offstreet parking
Outcome: sold for $700,000
Agents: Verena Lobb & Lisa MacQueen

Mt Roskill

56A May Rd:
Features: cross-lease, half share in 826m², 3 bedrooms, double internal-access garage
Outcome: passed in at $900,000
Agent: Alex Yang

Sandringham

65 Burnley Terrace, unit 5:
Features: one-bedroom ground unit, carport, parking space
Outgoings: body corp levy $1819/year
Outcome: no bid
Agent: Julie Hey

297A Mt Albert Rd:
Features: cross-lease, half share in 843m², 4 bedrooms, deck, carport
Outcome: no bid
Agent: Steve Hood

16 St Lukes Rd:
Features: cross-lease, 1/3 share in 1358m², 4-bedroom villa
Outcome: no bid
Agents: Reeka Lelaulu & Sue Cohen

34 Watea Rd, unit 3:
Features: cross-lease, 1/8 share in 1227m², 2-bedroom unit, garage
Outcome: no bid
Agents: Jeff Stretton & Monica Bajaj

North-west

Glendene

4 Lydford Place, unit 2:
Features: cross-lease, half share in 675m², 3 bedrooms, deck, garage, workshop
Outcome: no bid
Agents: Julia Barnett & Ryan Littler

Glen Eden

9 Evans Rd, unit 12:
Features: 2-bedroom unit, deck, internal-access garage
Outgoings: body corp levy $595/year
Outcome: passed in
Agents: Julia Barnett & Ryan Littler

Henderson

38 Eyre St:
Features: cross-lease, half share in 1026m², 3 bedrooms, basement garage, double carport
Outcome: passed in
Agent: Roger Franklin

New Lynn

2 Kiritoa St:
Features: cross-lease, half share in 870m², 3 bedrooms, garage
Outcome: no bid
Agent: Jennifer Peary

116 Titirangi Rd, unit 1:
Features: cross-lease, 1/10 share in 4116m², 3-bedroom bungalow, carport
Outcome: no bid
Agents: Aken Yuan & Michelle Zhou

Swanson

637 Swanson Rd, unit 1:
Features: cross-lease, half share in 1012m², 2-bedroom bungalow, deck, offstreet parking
Outcome: no bid
Agents: Raj Mitra & Maggie Altaf

Attribution: Auctions.

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The $1 million property, and the intensive auction results

The $1 million property – the average value in Auckland – moves around. It used to be in suburbs like Remuera, but that’s $2 million territory now, even in some cases for a cross-lease with negligible land.

Yesterday, at Barfoot & Thompson’s large city residential auction, the $1 million property was in the western isthmus suburb of Avondale, between the back fence of the racecourse and the suburb’s business area on Great North Rd, and it wasn’t ultra-flash. An old kauri villa on a 632m² section, 3 bedrooms, a carport, “a do-up” according to the agent’s promotion, and it sold under the hammer for exactly $1 million.

In these auction columns I note properties which are development prospects, but the house on Elm St isn’t one of those. Nor are most of the properties listed below, largely because 19 of the 31 are cross-leased – the intensification already done, resetting the land price as a consequence and presenting a barrier to real intensification that would be more than filling in backyards with a second dwelling.

Barfoot & Thompson ran 2 residential auctions in 2 rooms at its city office yesterday – back to the heyday of listings, but not of sales. All up, the 4 auctions put 70 homes before buyers, with another 6 sold prior.

27 were sold under the hammer for a 39% clearance rate, or 43% counting the sold priors, and 17 of the auctionroom sales were of intensive properties – apartments, suburban units or on cross-leased land (another couple were development prospects). From an intensive list of 31 properties (the list below), that’s a clearance rate of 55% (I’ve added one since yesterday, reducing the clearance rate from 57%). Results from the intensive offering:

CBD

Learning Quarter

Oxford, 13 Mount St, unit 5K & parking unit 1Q:
Features: 2-bedroom apartment, parking space
Outgoings: body corp levy $4234/year
Outcome: no bid, back on market at $590,000
Agent: Duncan Wu

Quay Park

QuBA, 2 Tapora St, unit 425:
Features: leasehold, expiring 31 July 2046, one bedroom, secure parking space
Income assessment: $490/week current
Outcome: no bid, back on market at $290,000
Agents: Jill Jackson & Emma John

Isthmus east

Ellerslie

126 Marua Rd, unit 4:
Features: cross-lease, 1/6 share in 1398m², 2-bedroom unit, carport
Outcome: sold for $650,000
Agent: Steve Hood

Epsom

38 Epsom Avenue, unit 2B:
Features: 2-bedroom unit, covered parking
Outgoings: body corp levy $3201/year
Outcome: no bid
Agent: Ricky Yap

22 Pah Rd, unit 5:
Features: cross-lease, 1/5 share in 1290m², 2-bedroom unit, study, basement, garage
Outcome: sold for $805,000
Agent: Dee Brennan

10 Penrhyn Rd:
Features: cross-lease, half share in 1271m², 4 bedrooms, double internal-access garage
Outcome: sold for $1.975 million
Agents: Diana Buczkowski & Peter West

11 Woodhall Rd, unit 2:
Features: cross-lease, 1/6 share in 1474m², 2-level 2-bedroom townhouse, study, garage
Outcome: sold for $1.205 million
Agent: Dee Brennan

Glendowie

321 Riddell Rd:
Features: cross-lease, 1/6 share in 2036m², 3 bedrooms + sleepout, double garage
Outcome: passed in
Agents: Grant & Moira Marshall

Greenlane

24 & 26 Garland Rd:
Features: 2 homes on 1705m², one of one bedroom + study and the other of 3 bedrooms
Outcome: passed in
Agents: John Zhang & Louissa Bao

11 Tawera Rd, unit 9:
Features: cross-lease, 1/21 share in 2756m², 2-bedroom unit
Outcome: no bid
Agents: Danny Upton & James Yu

Meadowbank

25A Fancourt St:
Features: cross-lease, half share in 860m², 3 bedrooms,
Outcome: no bid
Agent: Neno Radinovich

Mission Bay

Bay Terraces, 47 Tamaki Drive, unit 4:
Features: 123m², 2-bedroom apartment, 2 bathrooms, deck, 2 secure parking spaces
Outgoings: body corp levy $12,028/year
Outcome: passed in, back on market at $2.2 million
Agents: Amanda Zhou & Yuyu Cao

Mt Wellington

24 Bailey Rd, unit 1:
Features: cross-lease, 1/6 share in 1501m², 2 bedrooms, carport
Outcome: sold for $550,000
Agent: Karin de Leeuw

Onehunga

93J Mays Rd:
Features: 80m², 2 levels, 2-bedroom terrace, 2 parking spaces
Outgoings: body corp levy $579/year, + special levy of $53,685, estimated to be 40% of total funding for remediation, recently reclad
Outcome: sold for $573,000
Agents: Sue Ma & Hattie Huo

Remuera

1 Mainston Rd:
Features: cross-lease, 1/6 share in 1948m², 3 bedrooms, 2 bathrooms, study, 2 parking spaces
Outcome: no bid
Agent: Steve Hood

34B Monteith Crescent, unit C:
Features: 4 bedrooms, 2 bathrooms, 2 parking spaces
Outgoings: body corp levy $3133/year
Outcome: no bid
Agents: Lily Zhang & Jacquie Jia

10A Muir Rd:
Features: cross-lease, half share in 814m², 3 bedrooms, double garage
Outcome: sold for $1.02 million
Agents: Julie Fitzpatrick & Kathy Bower

St Heliers

17 Ashwell St, units 1, 2 & 3:
Features: cross-lease, 3 1/3 shares in 657m², 3 units, total 5 bedrooms, 3 parking spaces
Outcome: sold for $2.36 million
Agents: Thomas & Helen Weber

26A McArthur Avenue:
Features: 317m² + 1/5 share in 578m², 313m² 5 bedroom terrace, 3 bathrooms, 2 parking spaces
Outcome: sold for $1.5 million
Agent: Andy Dye

41 Sylvia Rd, unit 2:
Features: cross-lease, quarter share in 1199m², 4 bedrooms
Outcome: no bid
Agent: Kelly Midwood

St Johns

2 Strong St, unit 3:
Features: cross-lease, 1/3 share in 619m², 2-bedroom apartment, carport
Outcome: sold for $626,000
Agent: Helen McVicar

Isthmus west

Kingsland

4F Don Croot St:
Features: 60m², one-bedroom unit, storage shed, offstreet parking
Outcome: sold for $627,000
Agents: Matt O’Brien & Anah Jordan

Mt Eden

45 Edenvale Crescent:
Features: villa in 3 flats, 2 of one bedroom & one of 2 bedrooms,
Outcome: sold for $1.545 million
Agent: Kathy Bower

Mt Roskill

61A Boyce Avenue, unit 2:
Features: cross-lease, half share in 928m², 3-bedroom duplex, 2 parking spaces
Outcome: no bid
Agents: David Chen & Joey Zhuang

1193A Dominion Rd:
Features: cross-lease, half share in 809m², 3 bedrooms, garage
Outcome: passed in
Agent: Kelly Zhang

78 Haycock Avenue, unit 2:
Features: cross-lease, half share in 685m², 2-bedroom unit, garage
Outcome: sold for $655,000
Agents: William & Simon MacLean

639 & 2/641 Richardson Rd (listed as Avenue):
Features: one 716m² section fee simple and the other on cross-lease, half share in 867m², 2 3-bedroom homes
Outcome: no bid together or separately
Agent: Sunny Yang

Pt Chevalier

5 Kanuka St:
Features: cross-lease, half share in 710m², 3 bedrooms, 2 bathrooms, sleepout, carport
Outcome: passed in
Agents: Andrew Gallagher & Matt O’Rourke

Waterview

6A Alverston St:
Features: cross-lease, half share in 1060m², 4 bedrooms, double internal-access garage
Outcome: sold for $1.216 million
Agents: Stephen Shin & Barry He

North-west

Henderson

15 Universal Drive:
Features: 2 homes on 1158m², one of 3 bedrooms, the other of 2 bedrooms
Outcome: no bid
Agents: George Fong & Maggie Xue

South

Pakuranga

1 Greenhill Crescent, unit 1:
Features: cross-lease, half share in 1060m², 3 bedrooms, garage
Outcome: sold for $934,000
Agents: Dong & Lucca Liu

Attribution: Auctions.

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Auction clearance falls as no-bids rise

Auction results have been mixed in the apartment & residential markets in recent weeks, as Barfoot & Thompson’s auction sessions at its city office demonstrated this week.

In 3 sessions on Wednesday-Thursday, the agency offered 59 homes, with another 10 listings sold pre-auction. Including the presales, the 28 sales represented a 41% clearance.

In the apartments auction yesterday (link below to separate story), 2 of the 8 listed sold under the hammer and another 2 prior, for a 50% clearance.

At the 3 residential sessions, 17 of the properties offered were what I classify as intensive, including 13 cross-leases. The others were 2 suburban units not on cross-lease, an apartment & a townhouse

Of the 17, 5 were sold and 12 were passed in, including 7 which received no bid.

The process has slowed right down as vendors adjust to something approaching normal, where bidding no longer starts at an assumed million and no longer carries on skyward. As well as more completions than would be the case if the hesitancy resulted in quick passing in, I understand there’s also been a transfer of sales from the auction room to post-auction negotiation.

There’s also a big reduction in stock being taken to auction, the number of Chinese investors has fallen away and those who do turn up have been sitting on their hands as much as anybody else.

Below, the intensive market results:

Isthmus east

Ellerslie

20 Laud Avenue:
Features: cross-lease, half share in 997m², 2 bedrooms, deck, garden, double carport
Outcome: sold for $885,000
Agents: Di Martens

Epsom

42 Cornwall Park Avenue:
Features: cross-lease, half share in 1013m², 3 bedrooms, garage
Outcome: passed in
Agent: Ling Zhu

11 Tuperiri Rd, unit 3:
Features: cross-lease, half share in 971m², m², 4 bedrooms, 2 bathrooms, courtyard, double internal-access garage
Outcome: passed in
Agents: Leon Bao

Kohimarama

19A John Rymer Place:
Features: cross-lease, half share in 824m², 4 bedrooms, double internal-access garage
Outcome: no bid
Agent: Kelly Midwood

17A Rawhiritoa Rd:
Features: cross-lease, half share in 700m², 3 bedrooms, double internal-access garage
Outcome: no bid
Agents: Russell Birkinshaw & Serrine Chen

1 Taranaki Rd, unit 3:
Features: cross-lease, 1/3 share in 728m², 2-bedroom unit, garden, carport
Outcome: sold for $1.015 million
Agent: Teresa Weiss

Mt Wellington

113 Panama Rd, unit 6:
Features: cross-lease, 1/7 in 1982m², 2-bedroom unit, courtyard, internal-access garage
Outcome: passed in
Agents: Sally Giles

Otahuhu

4 Albert St:
Features: cross-lease, 1/5 in 1223m², 3 bedrooms, offstreet parking
Outcome: passed in, back on the market at $598,000
Agents: Michael Zhang & Kelly Fan

Panmure

66 Pilkington Rd, unit 3:
Features: 3-bedroom unit, deck, garden, rumpus/storage, offstreet parking
Outgoings: body corp levy nil
Outcome: no bid
Agents: Margaret Johnston & Phyllis Brooks

Remuera

32 Lochiel Rd, unit 2:
Features: cross-lease, quarter share in 1332m², 2 bedrooms, courtyard, garden
Outcome: sold for $1.25 million
Agent: Sara-Jayne Kingston

Isthmus west

Mt Albert

9 Richardson Rd, unit 5:
Features: cross-lease, 1/3 share in 2047m², 4 bedrooms, internal-access garage
Outcome: sold for $917,000
Agents: Christine & Mark Wooding

Mt Roskill

21A Graham Bell Avenue:
Features: cross-lease, half share in 809m², 3 bedrooms, deck, double internal-access garage
Outcome: passed in
Agents: Daisy Hu & Yogesh Suri

16B Penney Avenue, unit 2:
Features: cross-lease, 1/3 share in 1077m², 120m² 2-bedroom unit, conservatory, garage
Outcome: no bid
Agent: Dermot Kelly

Ponsonby

22 Prosford St, unit 1:
Features: one-bedroom apartment, patio, storage
Outgoings: body corp levy $5166/year
Outcome: sold for $731,000
Agent: André Boddé

Pt Chevalier

12 Walmer Rd:
Features: cross-lease, half share in 695m², 3 bedrooms, carport, storage
Outcome: no bid
Agents: Matt O’Rourke & Ryan Harding

Three Kings

531 Mt Albert Rd, unit 2:
Features: 2-bedroom unit, storage, internal-access garage
Outgoings: body corp levy $792/year
Outcome: passed in
Agent: Zaki Murumkar

North-west

New Lynn

14 Ambrico Place, unit 5:
Features: 110m², 3-bedroom townhouse, 2 bathrooms, internal-access garage
Outgoings: body corp levy $2199/year
Outcome: no bid
Agents: Aken Yuan & Michelle Zhou

Apartments story today: Converted warehouse sells post-auction

Attribution: Auctions.

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19 intensive properties sell at 3 Barfoot sessions

In 3 auction sessions at its city rooms on Wednesday & Thursday, Barfoot & Thompson sold 17 intensive properties out of 28 on offer, and another 2 shortly after the auction – a 68% clearance rate.

12 of those properties are on cross-leases, some of them fullscale houses, but I rate them as intensive because they do intensify land use and certainly affect land values.

The auctionrooms are mostly quieter, and the process much slower as vendors negotiate for an immediate sale or hang in for what might ultimately not be a sale at a higher figure.

I’ve reported separately on the agency’s apartments & commercial auction on Thursday morning, when one of 2 commercial properties and 3 of the 4 apartments were sold.

CBD

Learning Quarter

Silo, 23 Emily Place, unit 4N:
Features: 17m² studio, enclosed courtyard, parking space
Outcome: sold for $395,000 at pre-auction
Agents: Leo & Stephen Shin

Isthmus east

Epsom

30 Gardner Rd, units A & B:
Features: 2 homes totalling 270m², one of 2 bedrooms, the other of 3 bedrooms
Outgoings: body corp levy $2674/year
Income assessment: $1400/week current
Outcome: passed in
Agents: Julia Zhu

228F Green Lane West:
Features: 2-bedroom townhouse, double carport, storage
Outgoings: body corp levy $4956/year
Outcome: sold for $687,000
Agent: Victor Lai

33A King George Avenue:
Features: cross-lease, half share in 776m², 4 bedrooms, 3 bathrooms, study, patio, double internal-access garage
Outcome: no bid, back on market at $1.625 million
Agents: Frank Excell & Ketiesha Elliott

17 Selwyn Rd unit 2:
Features: cross-lease, 1/6 share in 1485m², 2-bedroom unit, deck, internal-access garage
Outcome: sold for $876,000
Agents: Robyn Preece

71 Wheturangi Rd:
Features: cross-lease, 1/3 share in 1434m², 4-bedroom house, 2 bathrooms, 2 parking spaces
Outcome: passed in at $1.75 million
Agents: Wendy Sadd & Helen Lam

Greenlane

8 Korokino Rd:
Features: cross-lease, half share in 870m², 3 bedrooms, 2 bathrooms, deck, double garage
Outcome: sold for $1.15 million
Agents: Cici Wang

Mission Bay

10 Tagalad Rd, unit 6;
Features: one-bedroom apartment, conservatory, storage room
Outcome: sold for $890,000
Agent: Karin Cooper

Onehunga

111H Church St:
Features: cross-lease, 1/5 share in 769m², 2-bedroom townhouse, 2 parking spaces
Outgoings: body corp levy $2183/year
Outcome: sold for $650,000
Agent: Elvira Abdrazakova

76 Galway St, unit 2:
Features: 3-bedroom unit, 2 bathrooms, courtyard, double internal-access garage + 2 offstreet spaces
Outcome: sold for $805,000
Agent: Vicki Du

One Tree Hill

51A Tawa Rd:
Features: cross-lease, half share in 819m², 3 bedrooms, 2 bathrooms, patio, 2 parking spaces
Outcome: sold for $1.16 million
Agent: Wendy Sadd

Parnell

16 Aorere St:
Features: 213m² site, 3 bedrooms, 2 bathrooms, 2 balconies, ground-floor deck, patio, single garage + 2 offstreet spaces
Outcome: no bid, back on market at $1.495 million
Agent: Steve Hood

26 Brighton Rd, unit 3:
Features: 169m², 3-bedroom townhouse, 2 bathrooms, double internal-access garage, garden
Outgoings: rates $3275/year including gst; body corp levy $1376/year
Outcome: sold for $1.515 million
Agent: Cindy Yu

Remuera

171 Portland Rd, unit 2:
Features: 2-bedroom unit
Outcome: no bid, back on market at $898,000
Agent: Julie Fitzpatrick

5A Ventnor Rd:
Features: cross-lease, half share in 852m², 3 bedrooms, 3 bathrooms, office, deck, double internal-access garage
Outcome: passed in at $1.575 million
Agent: Debbie-Lee Wallace

St Heliers

278 St Heliers Bay Rd, unit 2:
Features: 2-bedroom townhouse, balcony for each bedroom, deck
Outcome: sold for $840,000
Agent: Julie Kennedy

St Johns

35 Simkin Avenue, unit 2:
Features: cross-lease, 607m², 82m² 2-bedroom unit, storage, garden, carport
Outcome: no bid, sold post-auction
Agent: Keith Simpson

Isthmus west

Freemans Bay

148 Howe St, unit 18:
Features: 2 bedrooms, offstreet parking space
Outgoings: body corp levy $4362/year
Outcome: sold post-auction
Agents: Andre Bodde

Hillsborough

55 Aldersgate Rd:
Features: cross-lease, half share in 1542m², 4 bedrooms, 2 bathrooms, double carport
Outcome: sold for $1.2 million
Agents: Anna Copeland

Mt Albert

1 Preston Avenue, unit 4:
Features: 73m² land, 2-bedroom unit, garage
Outcome: passed in
Agents: Wayne Guo & Sammi Huang

Mt Eden

1 Akiraho St, unit 13:
Features: 2-bedroom apartment, 2 bedrooms, balcony, 2 parking spaces
Outgoings: body corp levy $3842/year
Outcome: sold for $728,000
Agents: Sue Saywell

79A Grange Rd:
Features: 3-bedroom villa converted into 3 one-bedroom flats
Outgoings: body corp levy nil
Income assessment: $73,840/year current
Outcome: sold for $1.7 million
Agents: Paul Donovan & Sharon Walls

Mt Roskill

980 Dominion Rd:
Features: 875m² section, ex-state house, 4 bedrooms, carport, zoned business – mixed use under unitary plan
Outcome: sold for $2.252 million
Agent: Kathy Bower

Sandringham

268A Balmoral Rd:
Features: cross-lease, half share in 1586m², 2-bedroom art deco house, garage
Outcome: passed in
Agents: Frank Excell & Ketiesha Elliott

6 Eden View Rd, unit 5:
Features: cross-lease, 1/10 share in 1231m², 57m² 2-bedroom unit, offstreet parking
Outcome: sold for $510,000
Agents: Lucy Liu

Westmere

111 West End Rd:
Features: cross-lease, half share in 721m², 3 bedrooms, 3 bathrooms, office, offstreet parking
Outcome: sold for $1.5 million
Agents: George Damiris & Bruce Murtagh

North-west

Glen Eden

111 Albionvale Rd:
Features: 103m² fee simple section, 3-bedroom townhouse, 2 bathrooms, garage
Outcome: passed in
Agents: Sachin & Naresh Mistry

Sunnyvale

20 Sunshine Boulevard:
Features: 199m² site, 180m² internal space, 4 bedrooms, 2 bathrooms, internal-access garage
Outcome: sold for $726,000
Agents: Stephen Shin & Barry He

Apartments & commercial auction, 3 November 2016: Grey Lynn shops & 3 apartments sell

Attribution: Auctions.

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