Archive | Grafton

5% yield off Khyber Pass

A Grafton office & warehouse, between Khyber Pass Rd & Mt Eden Prison, has been sold on a 5% yield.

Isthmus east

Grafton

12 Auburn St:
Features: 749m² site, 762m² office & warehouse zoned mixed use
Rent: $170,000/year net, 8-year leased from 1 May 2017, one 3-year right of renewal
Outcome: sold for $3.4 million at a 5% yield
Agent: Ben Jamieson, JLL

Attribution: Agent.

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Boston Rd mix and Chambers & Station apartment sell

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

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

CBD

Uptown

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

Isthmus east

Grafton

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

Parnell

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

Remuera

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

Isthmus west

Mt Albert

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

Mt Eden

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

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

Chambers & Station, 64 Valley Rd, unit 3:

Chambers & Station on Valley Rd, Mt Eden.

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

St Marys Bay

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

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

Three Kings

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

Attribution: Auctions.

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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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New auctionroom isn’t supported by first results

A new auctionroom (one floor up, same building at 445 Karangahape Rd) and a large crowd in for City Sales’ first auction of the year didn’t help with the results. All 4 apartments on offer were passed in.

For the last of them, a leasehold unit on Princes Wharf, auctioneer Kim Spark was looking for bids over $400,000 and was hardly impressed with offers of $110,000 & $150,000. It took 6 bids to reach his preferred starting range and the apartment was passed in at $415,000.

Before that, 2 units in the Citta building at the corner of Symonds St & Khyber Pass Rd and one in the Prince Albert on Albert St attracted only a handful of bids between them.

CBD

Albert St

Prince Albert, 41 Albert St, unit 2F:
Features: 85m², 2 bedrooms, 1½ bathrooms, deck, parking space
Outgoings: rates $1544/year including gst for unit, $906 for parking; body corp levy $8175/year for unit, $337 for parking
Outcome: passed in after bid at $450,000 vendor raise to $475,000
Agents: Tania Toparea

Waterfront

Princes Wharf, 143 Quay St, shed 24, unit 34:
Features: leasehold, 119m², 2 bedrooms, 2 bathrooms, 55m² deck, parking lease option possible
Outgoings: rates $3648/year including gst; body corp levy $18,259/year opex, ground lease $15,327/year
Outcome: passed in at $415,000
Agents: Anna Birkenhead

Isthmus east

Grafton

Citta, 182-186 Symonds St, unit 315:
Features: 67m², 2 bedrooms, parking space
Outgoings: rates $1587/year including gst; body corp levy $4567/year
Outcome: passed in at $530,000
Agents: Lucy Piatov & Chris Bell

Citta, 182-186 Symonds St, unit 421:
Features: 28m² studio, parking space
Outgoings: rates $1017/year including gst; body corp levy $2514/year
Outcome: passed in at $312,000
Agents: Lucy Piatov & Chris Bell

Attribution: Auction.

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3 apartments sell at Ray White auction

3 apartments were sold under the hammer and 2 were passed in at Ray White City Apartments’ auction yesterday.

CBD

Learning Quarter

Tower Hill, 1 Emily Place, unit 3D:
Features: 54m², one bedroom, storage, balcony
Outgoings: rates $1519/year including gst; body corp levy $2761/year after 10% discount
Income assessment: $480-520/week furnished
Outcome: passed in
Agents: Damian Piggin & Daniel Horrobin

Metro, 82 Wakefield St, unit 9B:
Features: 28m² studio, deck, storage locker
Outgoings: rates $1063/year including gst; body corp levy $3398/year
Income assessment: $330-380/week furnished, peak market in February-March $360-400/week furnished
Outcome: sold for $291,000
Agents: May Ma & Mark Li

Uptown

Summit on Symonds, 103 Symonds St, unit 201:
Features: 57m², one bedroom, study
Outgoings: body corp levy $2488/year
Outcome: sold for $540,000
Agent: Mark Harrison

Isthmus east

Grafton

8 Nugent St, unit 410:
Features: 80m², 2 bedrooms, 2 bathrooms, 8m² balcony, secure parking space, storage locker
Outgoings: rates $2168/year including gst; body corp levy $3813/year
Income assessment: $600-650/week furnished
Outcome: passed in
Agents: Ryan Bridgman & Mitch Agnew

Isthmus west

Eden Terrace

43 Virginia Avenue, unit 206 (pictured):
Features: 45m², 2 bedrooms, balcony, parking space
Outgoings: rates $1232/year including gst; body corp levy $4290/year
Income assessment: $550-580/week furnished
Outcome: sold for $470,000
Agents: Ryan Bridgman & Mitch Agnew

Attribution: Auction documents.

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2 apartments sell at City Sales

2 apartments in the Brooklyn building & Citta (pictured) were sold under the hammer at City Sales’ auction yesterday, and 2 others at Tower Hill and in Citta were passed in.

CBD

Learning Quarter

Tower Hill, 1 Emily Place, unit 10G:
Features: 51m², one bedroom, deck, parking space
Outgoings: rates $1608/year including gst; body corp levy $3753/year
Outcome: passed in at $500,000
Agent: Trisha Shanaghan

Brooklyn, 66 Emily Place, unit 44:
Features: 50m², one bedroom
Outgoings: rates $1202/year including gst; body corp levy $4584/year
Outcome: sold for $440,000
Agent: Trisha Shanaghan

Isthmus east

Grafton

Citta, 186 Symonds St, unit 302:
Features: 36m² studio, parking space
Outgoings: rates $1093/year including gst; body corp levy $3143/year
Outcome: sold for $320,000
Agents: Gabrielle Hoffmann & Nicola Hunt

Citta, 186 Symonds St, unit 113:
Features: 67m², 2 bedrooms, 2 bathrooms, tandem parking
Outgoings: rates $1498/year including gst; body corp levy $4441/year
Outcome: passed in at $550,000
Agents: Gabrielle Hoffmann & Nicola Hunt

Attribution: Auction.

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Silo apartment & St Johns industrial unit sell

An apartment in the Silo on Emily Place and an industrial unit in St Johns were sold under the hammer at Barfoot & Thompson’s auction yesterday morning. Biggest bid of the session was for an old retail & residential building at the city end of Mt Eden Rd (pictured), which was passed in at $2.3 million.

3 of the 7 properties on the auction list received no bid.

Apartments

CBD

Learning Quarter

Silo, 23 Emily Place, unit 11G:
Features: 2-bedroom loft, study, balcony, secure parking space
Outgoings: body corp levy $829/year
Outcome: sold for $705,000
Agent: Aaron Cook

Madison, 145 Symonds St, unit 704:
Features: 54m², one bedroom, study, parking space
Outgoings: body corp levy $5302/year
Outcome: passed in at $450,000
Agents: Stephen Shin & Richard Han

Victoria Quarter

Harvard, 147 Hobson St, unit 10C:
Features: 2 bedrooms
Outgoings: body corp levy $4111/year
Outcome: no bid
Agents: Jason Li

Isthmus west

Eden Terrace

Memphis, 11 Charlotte St, unit 1C:
Features: 91m², 2 levels, 2 bedrooms, 2 parking spaces
Outgoings: body corp levy $4485/year
Outcome: no bid
Agents: Stephen Shin & Richard Han

Grey Lynn

M-One, 250 Richmond Rd, unit 2B:
Features: one bedroom, balcony, parking space; remedial issues identified & cost planning underway
Outgoings: body corp levy $3350/year, remediation levy for design & consent $4680, buyer liable for all levies for these works
Outcome: no bid
Agents: Alex Allan & Rita Herceg

Commercial

Isthmus east

Grafton

15-19A Mt Eden Rd:
Features: 445m² site, 450m² building, 2 retail tenancies – Bamboo Kitchen & smaller vacancy, 5/6-bedroom flat upstairs
Rent: potential $165-170,000 fully leased
Outcome: passed in at $2.3 million
Agents: Murray Tomlinson

St Johns

90 Elizabeth Knox Place, unit 1:
Features: vacant 181m² industrial unit – 42m² mezzanine, small office/showroom, warehouse, 4 parking spaces
Outcome: sold for $810,000
Agents: Mike Jensen

Attribution: Auction.

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All apartments passed in at Barfoots auction

All 5 apartments auctioned at Barfoot & Thompson yesterday were passed in, but one was sold prior.

CBD

Albert St

Stamford Residences, 26 Albert St, unit 201:
Features: 127m² including deck, air-conditioned, 2 bedrooms, 2 bathrooms, enclosed loggia
Outgoings: body corp levy $9224/year
Outcome: passed in at $800,000
Agents: Michele Ballinger & Jean-Marc D’Anglejan

Federal St

Federal, 207 Federal St, unit 110:
Features: 2 levels, 3 bedrooms, 2 bathrooms
Income assessment: $750/week current
Outcome: passed in at $450,000, back on the market at $635,000
Agents: Stephen Shin & Yasu Ka

Learning Quarter

47 Wakefield St, unit 307:
Features: studio
Outcome: auctioned postponed until 1 September
Agents: Stephen & Leo Shin

Uptown

Volt, 430 Queen St, unit 1605:
Features: 2 bedrooms
Outgoings: body corp levy $4578/year
Income assessment: $480/week current
Outcome: passed in at $350,000, back on the market at $435,000, option on parking space at $85,000
Agents: Stephen Shin & Yasu Ka

Victoria Quarter

Wiltshire, 89 Victoria St West, unit 4C:
Features: one bedroom, balcony
Outgoings: body corp levy $1677/year
Outcome: sold prior
Agent: Fiona Lee

Isthmus east

Grafton

Citta, 184 Symonds St, unit 214 (pictured):
Features: 79m², 2 bedrooms, 2 bathrooms, secure parking space
Outgoings: rates $1562/year including gst; body corp levy $4220/year
Outcome: passed in at $500,000, back on the market at $635,000
Agents: Rean Khoo & Mamun Rashid

Newmarket

Kings Square, 26 Remuera Rd, unit 519:
Features: 2 bedrooms, 2 bathrooms, balcony, 2 secure parking spaces
Outgoings: body corp levy $3331/year
Outcome: passed in at $825,000
Agents: Livia Li & Alan Guo

Attribution: Auction documents.

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Grafton & Kawakawa sales

2 properties taken to tender through Bayleys’ last Total Property campaign have been sold.

Isthmus east

Grafton

15 Nugent St (pictured):
Features: under-utilised 1988msite with 30 parking spaces, near the Khyber Pass Rd intersection, 939m2 industrial building occupied by a longstanding automotive tenant, Autohaus NZ Ltd, on 12-month lease;  unitary plan mixed-use zoning allows buildings up to 5 storeys (20.5m), with Auckland Boys’ Grammar School zoning enhancing residential development appeal
Rent: $162,000/year net + gst
Outcome: sold for $6.7 million at a 2.42% yield & land value of $3370/m2
Agents: Alan & Phil Haydock

North

Kawakawa

4 Station Rd:
Features: Caltex service station on 2957m2 site on State Highway 1 corner, 242m1980s commercial building contains the service station’s Fix retail premises plus a separate takeaway restaurant & fish shop, trading as Stumpy’s & operating under a sub-lease; over 11 years remaining on 23-year lease + 2 10-year rights of renewal
Rent: $208,343/year net + gst, annual rental increases to higher of 2% or CPI
Outcome: sold for $3.1 million at a 6.7% yield
Agents: Alan Haydock, Damien Bullick, Ken Hu & Tonya Spicer

Attribution: Agency release.

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