Archive | Greenlane

4 apartments, units & townhouses sold

One of the 3 apartments auctioned at Barfoot & Thompson’s city office yesterday – in the Queens Residences on Queen St (pictured) – was sold under the hammer. In the afternoon session, 3 of the 5 suburban units & townhouses were also sold.

CBD

Albert St

Stamford Residences, 26 Albert St, unit 2108:
Features: 233m², 3 bedrooms, 3 bathrooms, study, storage locker, 2 secure parking spaces
Outgoings: body corp levy $20,108/year
Income assessment: fixed–term tenancy until June 2019
Outcome: passed in at $2.12 million
Agent: Aaron Cook

Uptown

Queens Residences, 8 Airedale St, unit 1302:
Features: 45m² including balcony, one bedroom, study
Outgoings: body corp levy $2193/year
Outcome: sold for $497,000
Agents: Selina Zheng & Tommy Zhang

Isthmus east

Epsom

218 Green Lane West, unit 44:
Features: 2-bedroom townhouse recently reclad & refurbished with new code compliance certificate, carport, in secure gated complex
Outcome: passed in at $895,000
Agents: Yi Wei Lowndes & Tian Qiu

Greenlane

27 Puriri Avenue, unit 2:
Features: 2-bedroom unit, carport
Outcome: sold for $732,000
Agents: Wendy Sadd & Helen Lam

Onehunga

85 Victoria St:
Features: 417m² section, villa in 2 one-bedroom flats, 4 parking spaces, zoned mixed housing, terraced & apartment
Outcome: sold for $705,000
Agent: Paul Hodgman

Parnell

13 Cheshire St, unit 407:
Features: 2 bedrooms, 2 bathrooms, balcony, tandem internal-access parking
Outgoings: body corp levy $3242/year
Outcome: passed in at $874,000
Agents: Anne-Marie & Victoria Koszegi

Remuera

725A Remuera Rd, unit 1:
Features: m², 2-level 3-bedroom townhouse, courtyards, garage with workshop, 2 offstreet parking spaces
Outcome: no bid
Agents: Paul Earl-Peacock

North-west

New Lynn

13 Seabrook Avenue, unit 2:
Features: 2-bedroom unit, garage
Outcome: sold for $478,000
Agents: Leigh Walford & Antonio Bosu

Attribution: Auction.

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6 intensive homes sell at auction but “no bids” raise questions

6 of the 10 intensive homes auctioned at Barfoot & Thompson’s city office yesterday were sold under the hammer.

Out of a total residential offering of 20 properties at 2 auctions, 8 were sold, so a strong outcome on intensive dwellings, weaker on standalone homes.

But the more interesting factor arose at the end of the second auction. Of the 7 properties, 2 had sold just short of $1.5 million, 2 had sold below $1 million, one was passed in, and remaining were a cross-leased townhouse at Bucklands Beach and a modest 3-bedroom standalone in Glen Eden. Neither attracted a bid, with the auctioneer closing after seeking a $550,000 start for the Glen Eden home.

In a short few months, the residential market has gone from overpricing enthusiasm to underpricing by neglect, the inability to finance at lower levels or exclusion of likely bidders by regulation.

CBD

Victoria Quarter

The Galleries, 23 Graham St, unit 26:
Features: 200m², 3 bedrooms, 3 bathrooms, study, balcony, 2 parking spaces, storage locker
Outcome: no bid
Agents: Louise Allan & Alex Allan

Isthmus east

Ellerslie

3 Ellerslie Park Rd, flats 2 & 3:
Features: 2 2-bedroom flats, parking space each
Outcome: sold for $1.16 million
Agents: Barry Saxon

Epsom

26 Orakau Avenue, unit 2:
Features: cross-lease, 1/3 share in 839m², 2-bedroom unit, garage
Outcome: sold for $951,000
Agent: Dee Brennan

Greenlane

24 Puriri Avenue, unit 4:
Features: 88m², 2-bedroom unit, internal-access garage
Outcome: sold for $860,000
Agents: Janice Hamilton-Cox & Philip Cox

Mission Bay

21A Comins Crescent:
Features: 3-bedroom townhouse, 2 bathrooms, courtyard, terrace, carport
Outcome: no bid
Agents: Alex Baker

Remuera

117 Grand Drive, unit 2:
Features: refurbished 3-bedroom townhouse, 2 bathrooms, 2 carport spaces, pool, bordering Waiatarua Reserve
Outcome: sold for $1.05 million
Agents: Stephen Rendell

Royal Oak

13C Raurenga Avenue:
Features: 419m² section, 4-bedroom townhouse, 3 bathrooms, double internal-access garage
Outcome: sold for $1.461 million
Agents: Frances Li & Ian Thornhill

North-east

Takapuna

9B Puriri St:
Features: cross-lease, half share in 1012m², 3 bedrooms, garage
Outcome: sold for $875,000
Agents: Will Gluestein

South

Bucklands Beach

119 Bucklands Beach Rd, unit 1:
Features: cross-lease, 1/5 share in 1618m², 4-bedroom townhouse, 2 bathrooms, internal-access garage
Outcome: no bid
Agents: Frances Li & Raymond Chan

Papatoetoe

81A Huia Rd, unit 1:
Features: 69m², 2-bedroom unit, tandem carport
Income assessment: $440/week current
Outcome: no bid
Agents: Neno Radinovich

Attribution: Auctions.

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Greenlane & St Heliers apartments sell

2 apartments in Greenlane & St Heliers were sold under the hammer at Bayleys’ suburban auctions this week.

Isthmus east

Greenlane

4D Matai Rd:
Features: 474m² site in gated community, 4-bedroom townhouse, 2 living rooms, 2 bathrooms, double garage
Outcome: sold for $1.52 million
Agents: John Procter

St Heliers

12C Maheke St:
Features: 164m², 3-bedroom apartment comprising whole top floor, 2 bathrooms, 2 balconies, 2 parking spaces, 6m² storage room
Outcome: sold for $2 million
Agents: David Rainbow & Ailsa McArthur

Attribution: Agency release.

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From the Barfoots auctions: Is there a trend?

The constant question in the auctionrooms, now that the extreme price escalation of the last couple of years is over, is: Is there a trend?

And the answer is ‘No’. After a hard push in one direction, forcing some regulatory or finance action, a lull is a reasonable expectation. But there will still be outliers – a property that’s a special attraction, something that brings 2-3 bidders up against each other whereas, for many properties, if the first hope is missed the next might do just as well.

One of the 2 apartments auctioned at Barfoot & Thompson’s city auction on Thursday was sold under the hammer. The other, in Stonefields, was passed in. A commercial property in Panmure, with vacant upstairs space, was also passed in.

In the agency’s city auctions on Wednesday, both apartments – in Parnell & St Marys Bay – were passed in.

Among the other offerings that I classify as intensive – suburban units, the occasional townhouse and the many cross-leases – 10 were sold and 4 passed in.

The auctionroom was crowded for a time on Wednesday, sparsely populated for the specialist offerings on Thursday morning.

Vendors continue to have to adjust their aspirations downward, but that downward pressure is less evident when what’s on offer is a cross-lease – in many instances, a cheaper entry point to a more exclusive suburb.

The 19 properties listed below include 4 apartments & one commercial property and are mostly on the east of the isthmus. As usual I’ve ignored the main stream of standalone residential offerings.

Thursday auction – apartments

CBD

Learning Quarter

Darlinghurst, 50 Eden Crescent, unit 2H:
Features: 60m², 2 bedrooms, high stud, storage locker & parking space on separate title nearby
Outgoings: body corp levy $284/year
Outcome: sold for $581,000
Agent: Aaron Cook

Isthmus east

Stonefields

Illico Apartments, 4 Bluegrey Avenue, unit 405:
Features: one bedroom, balcony, allocated parking space + guest parking
Outgoings: body corp levy $3024/year
Outcome: passed in at $500,000
Agent: Thelina Nuval

Wednesday auctions – suburban units, cross-leases & apartments:

Isthmus east

Epsom

6 Empire Rd, unit 3:
Features: 2-bedroom unit, internal-access garage
Outcome: sold for $1.166 million
Agents: Derek Helliwell & Cathy Giles

510C Manukau Rd:
Features: 3-bedroom townhouse, 3 bathrooms, double garage
Outgoings: body corp levy $4896/year
Outcome: passed in
Agents: George Fong & Laura McAuley

46 The Drive, unit 3:
Features: cross-lease, 1/3 share in 814m², 2-bedroom unit, garage
Outcome: sold for $953,000
Agent: Maria Lambert

Greenlane

20A Matai Rd, unit 1:
Features: cross-lease, half share in 1257m², 4 bedrooms, double garage
Outcome: sold for $1.32 million
Agents: Paul Robertson & Maree Currie

Mt Wellington

10 Alana Place, unit 2:
Features: cross-lease, 1/7 share in 2625m², 2-bedroom unit, garage
Outcome: sold for $650,000
Agent: Stephen Rendell

One Tree Hill

191A Campbell Rd:
Features: cross-lease, 1/3 share in 1717m², 4 bedrooms, 2 bathrooms, study, double garage
Outcome: no bid
Agents: Andre Bodde & Paul Hodgman

56 Rawhiti Rd, unit 1:
Features: cross-lease, half share in 938m², 2-bedroom cottage, internal-access garage
Outcome: sold for $1.15 million
Agents: Alex Baker & Julie Fitzpatrick

Parnell

29C Bath St:
Features: 2-bedroom apartment, deck, offstreet parking
Outgoings: body corp levy $5809/year
Outcome: passed in
Agent: Linda Galbraith

Remuera

22B Peach Parade:
Features: cross-lease, quarter share in 1449m², 3 bedrooms, double carport
Outcome: sold for $1.02 million
Agents: Stanley & Barbara Armon

18 Rotomahana Terrace, unit 1:
Features: cross-lease, 1/3 share in 1014m², 2-bedroom unit, garage, storage
Outcome: sold for $835,000
Agent: Steve Hood

St Heliers

37C The Parade:
Features: cross-lease, 1/3 share in 1012m², 2 bedrooms, garage
Outcome: sold for $912,500
Agents: Helen McVicar & Helen Clelland

St Johns

69 & 71 Swainston Rd:
Features: cross-lease – No 69: 2 half shares in 607m², 2 2-bedroom units; No 71: 802m², 2 2-bedroom units
Outcome: passed in when offered together & separately
Agent: Helen McVicar

St Johns Park

38 Pyatt Crescent:
Features: cross-lease, half share in 828m², 3 bedrooms, study, garage
Outcome: sold for $1.252 million
Agent: Michael Ataman

Isthmus west

Mt Eden

51 Grange Rd:
Features: cross-lease, quarter share in 1637m², 4-bedroom villa, 2 bathrooms, 2 lounges, study, double garage
Outcome: passed in
Agents: Frank Excell & Ketiesha Elliott

114 Landscape Rd, unit 2:
Features: cross-lease, half share in 688m², 3 bedrooms, 2 bathrooms, garage
Outcome: sold for $1.189 million
Agents: Paul Donovan & Sharon Walls

St Marys Bay

12 New St, unit 7:
Features: one-bedroom apartment
Outgoings: body corp levy $2749/year
Income assessment: $460/week current
Outcome: passed in
Agent: Louise Stringer

Commercial

Isthmus east

Panmure

7-9 Basin View Lane:
Features: 245m² site, 430m² floor area, 3 tenancies on 2 levels, 220m² upstairs space vacant
Rent: $31,812.50/year net + gst + outgoings
Outcome: passed in at $785,000
Agent: Jane Chen

Attribution: Auctions.

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Goodman takes syndicate units to facilitate Millennium Centre sale

The Goodman Property Trust’s manager said yesterday the trust had taken $12 million of units in the property syndicate that has bought the Millennium Centre at Greenlane (pictured) from it.

Goodman sold the 3 office properties at 600-604 Great South Rd, Greenlane, to syndicator Oyster Management Ltd for $210 million last year and settled yesterday.

Goodman (NZ) Ltd chief executive John Dakin said the trust had taken units in the syndicate to facilitate the transaction, would hold the investment for a maximum 2 years and expected to receive an annual return of 8%.

Mr Dakin said Goodman had also sold the commercial buildings & associated development land at 1 Show Place in Addington, Christchurch, for $14 million as part of its asset recycling programme. The unconditional sale to a local investor is expected to settle before the end of this month.

“An active sales programme is reducing debt and providing funding capacity for the trust’s development activity. It’s a strategy that is improving the quality of the portfolio and increasing investment in the favoured Auckland industrial market, a sector we expect to deliver superior growth,” he said.

The 2 transactions take Goodman’s total value of sales this financial year to almost $280 million.

Earlier stories:
5 October 2016: New leases lift price on Greenlane sale
14 July 2016: Goodman to sell Millennium & Yellow buildings to Oyster
1 July 2010: Goodman buys partner out of Show Place
30 May 2007: Macquarie Goodman buys 50% stake in Addington office park company

Attribution: Company release.

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4 commercial sales on isthmus & Airport Oaks

Bayleys agents have sold 3 business premises in Greenlane, Onehunga & Penrose on the isthmus and another at Airport Oaks.

Isthmus east

Greenlane

G1/G2, 93-95 Ascot Avenue:
Features: 435m2 of ground-floor office space, substantial fitout, in Ascot Business Park adjacent to Greenlane roundabout, previously used as medical premises, 10 parking spaces
Outcome: sold vacant for $2.1 million (at 7.4% yield on previous rental)
Agents: Gordon Gibson & Matt Gordon

Onehunga

51-53 Church St & 2 Fleming St:
Features: 894msite zoned mixed use, 609m2 industrial building, vendor to repaint & recarpet
Outcome: sold vacant for $2.2 million
Agent: James Valintine

Penrose

39 Station Rd (pictured):
Features: 822m2 site, 413m2 single-level retail building occupied by NZ Post/Kiwibank on a lease until August 2018, one 3-year right of renewal, 7 parking spaces
Rent: $63,000/year net
Outcome: sold vacant for $1.185 million at a 5.32% yield on present rent
Agents: Cameron Melhuish & Andrew Wallace

South

Airport Oaks

77 Aintree Avenue:
Features: 3000msite, 900m2 childcare centre, 12-year lease to Bright Sparks Childcare Ltd from January 2008, 2 6-year rights of renewal
Rent: $275,236/year net + gst
Outcome: sold for $4.37 million at 6.25% yield
Agent: Mark Pittaway

Attribution: Agency 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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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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Argosy leases Bunnings space on Ti Rakau

Argosy Property Ltd has leased the 11,675m² of warehouse space at 320 Ti Rakau Drive before the Bunnings distribution centre lease on the premises expires. It’s also filled vacant Greenlane space.

Argosy chief executive Peter Mence said yesterday: “The Bunnings distribution centre lease was one of Argosy’s key expiries remaining in the current financial year and it is very pleasing that we have been able to successfully lease this space to 2 quality tenants, both on new 10-year lease terms.”

Target International NZ Ltd is to lease 6567m² of the warehouse, plus 447m² of office space, which will serve as its head office.

Gunnersen Ltd, the largest independent Australian-owned distributor of wood-based panel products, timber & decorative surface materials, will lease the remaining 5108m² of warehouse area, plus 150m² of office.

Argosy will undertake $5.2 million of capital works to develop the site to facilitate the warehouse subdivision and to improve truck circulation & yard management.

Mr Mence said Bunnings was expected to remain in the warehouse on a monthly basis until the new year. The Bunnings retail store isn’t affected and will continue to trade as normal.

Greenlane space leased

Argosy has also leased the vacant 1150m² on 2 levels at 308 Great South Rd, Greenlane, to Housing NZ Corp, which has recently extended its lease at Argosy’s 626 Great South Rd property.

The 308 Great South Rd space was fully refurbished after Pacific Brands relocated to an adjoining Argosy building. Housing NZ’s lease on it is for 3½ years from 1 January.

Attribution: Company release.

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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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