Archive | Mt Wellington

Auction results, and a market assessment

Amid the noise over a decline in residential sales, it’s important to establish where that’s happening and in what types of market.

In Auckland, it was not at all surprising that a steep rise in prices should be followed by a decline, while Reserve Bank measures tightening borrowing have forced a further decline through the inability to borrow, and the absence of Chinese borrowers this year – compared to auctionrooms last year that were filled with Chinese buyers who appeared to have no limits – has taken further steam out.

The auction results presented below are from Barfoot & Thompson’s cbd apartments auction yesterday – 2 units, one sold – and from residential auctions on Tuesday & Wednesday.

Of the total 13 properties listed below, 8 sold, but the selection I’ve focused on is presented for the geographical mix as much as for the housing type.

Now that Auckland Council’s unitary plan is almost entirely in place, the real estate world has begun presenting more properties for their redevelopment potential, and many of those with such potential at lower prices are in isthmus fringe areas such as Point England & Glen Innes to the east, Mt Roskill & Mt Albert to the west. Unlike the regional fringes where new subdivisions are being developed – on the Hibiscus Coast to the north, across the top of the harbour to the west, and in a number of districts through old Papakura & Franklin to the south – these ones are close to the city centre, within 10km compared to beyond 25km or 40km.

On the isthmus, a house that was once in a bad neighbourhood can now command a price tag above $1 million, and all it’s done is age. Bad neighbourhoods could be defined as having a high state housing ratio, low-decile incomes, large families squeezed into small homes, poorer construction materials, and a general lack of foliage on sections and in streetscapes.

Those new price tags will force the old families out, and little is being created for them to move to. Those price rises in the bad neighbourhoods will also help lift already-soaring prices in the good neighbourhoods – the leafy areas of the eastern suburbs, for example.

Much of the entry-level housing is in cross-leased houses or mostly old brick-&-tile units. The prices for those can be as high as a modern product such as a 3-year-old GJ Gardner home (one in Mt Albert is listed below).

CBD

Learning Quarter:

Forte, 37 Symonds St, unit 505:
Features: 2-bedroom apartment, 2 bathrooms, deck
Outgoings: rates $1253/year including gst; body corp levy $3634/year
Outcome: sold for $540,000
Agents: Justin Choi & Zoran Farac

Longview, 6 Whitaker Place, unit 4D:
Features: 55m², one-bedroom apartment, deck
Outgoings: rates $1278/year including gst; body corp levy $3996/year
Outcome: no bid
Agents: Justin Choi & Stephen Shin

Isthmus east

Ellerslie

50 Amy St, unit 9:
Features: 3-storey townhouse, 3 bedrooms, carport
Outcome: sold for $785,000
Agent: Karin de Leeuw

Epsom

10 Orakau Avenue, unit 2:
Features: 2-bedroom townhouse, internal-access garage
Outcome: sold for $1.32 million
Agents: John Zhang & Louissa Bao

Glen Innes

52 Taniwha St:
Features: 837m² section, 3 bedrooms, study, garage, 4 offstreet parking spaces – in redeveloping Wai O Taiki Bay area bordering Glendowie, zoned mixed housing suburban
Outcome: sold for $1.09 million
Agents: Paul Neshausen & Sam Bowen

Mt Wellington

13A Wilkie Place:
Features: cross-lease, half share in 935m², 5-bedroom house – 3 bedrooms upstairs, separate & consented 2-bedroom flat downstairs with own entrance, carport, 2 offstreet parking spaces
Outcome: sold for $920,000
Agents: Jane Wang & Luke Shi

Stonefields

10 Robert Sale Rise:
Features: 354m² section, 235m² townhouse, 5 bedrooms, 3 bathrooms, 2 family rooms & separate lounge, double garage
Outcome: sold for $1.6 million
Agents: Frances Li & Ian Thornhill

Isthmus west

Mt Albert

60D Taylors Rd:
Features: 291m² section, 4-bedroom house, 3 bathrooms, family room, separate lounge, double internal–access garage, built 3 years ago by GJ Gardner
Outcome: sold for $1.36 million
Agents: Paul Donovan & Sharon Walls

Tremont Apartments, 4 Wagener Place, unit 409:
Features: top-floor apartment, 2 bedrooms, secure parking space
Outcome: passed in
Agents: George Fong & Laura Mc Auley

Mt Eden

706 Mt Eden Rd & 2A Watling St:
Features: 2 houses on 809m² corner section, each with own half-share cross-lease – 80m² 2-bedroom house on Mt Eden Rd, 140m² 3-bedroom house, double garage on Watling St
Income assessment: current rental expectation $1000-plus/week
Outcome: passed in when both offered together, no bid on Watling alone
Agents: Kelly Zhang & Hattie Liu

Mt Roskill

98 Melrose Rd, unit 3:
Features: 2-bedroom unit, carport
Outcome: no bid
Agents: Richard Han

North-west

Henderson

16 Matuhi Rise:
Features: 3-bedroom duplex, garage & workshop, carport, in-ground pool
Outcome: passed in, back on market at $649,000
Agents: Repeka Lelaulu & John Elgar

Te Atatu Peninsula

8 Celsmere Lane:
Features: renovated 2-bedroom house on 528m² section
Outcome: sold for $1.12 million
Agents: Angel Li & Louis Lai

Attribution: City apartments auction, auction documents.

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2 cbd apartments & 3 suburban units sell

2 of the 4 central area apartments auction at Barfoot & Thompson on Thursday were sold under the hammer.

Of 12 suburban intensive residential properties auctioned during the week, 3 were sold under the hammer. 4 new townhouses in a group in Mt Albert were all passed in.

CBD

Learning Quarter

Emily, 22 Emily Place, unit 5E (ex-Four Seasons):
Features: 118m², 3 bedrooms, balcony, in 8-storey art deco former office & warehouse building
Outcome: no bid
Agents: Leo Shin & Zoran Farac

Uptown

Amora, 100 Greys Avenue, unit 7F:
Features: one-bedroom hotel unit
Income assessment: management contracted until 2020, hotel pays the body corporate levies & council rates, annual CPI increase in income, owner has 4300 shares in the company, net income just under $9000/year
Outcome: sold for $215,000 at pre-auction on Friday
Agent: Mike Campbell

Victoria Quarter

Imperial Gardens, 135 Hobson St, unit 218:
Features: 2 bedrooms, storage locker, parking space
Outcome: no bid
Agents: Wendy Feng & Jack Li

SugarTree Prima, 27 Union St, unit 412:
Features: 75m², 2 bedrooms, 2 bathrooms, balcony, parking space
Outgoings: body corp levy $/year
Income assessment: $610/week unfurnished current
Outcome: sold for $695,000
Agent: Aaron Cook

Isthmus east

Ellerslie

14 Ballarat St, unit 1:
Features: 116m², 3-bedroom unit garage
Outcome: passed in, back on market at $698,000
Agents: Kelly Midwood

39 Celtic Crescent, unit 3:
Features: 3-bedroom unit, carport
Outcome: sold for $645,000
Agent: Steve Hood

Epsom

1 Epsom Avenue, unit 9:
Features: 3-bedroom unit, balcony, carport
Outcome: passed in, back on market at $765,000
Agents: George Fong & Paul Sun

Mt Wellington

8 Monaco Place:
Features: 364m² section, 2-bedroom duplex unit, internal-access garage
Outcome: sold for $739,500
Agents: Margaret Johnston & Phyllis Brooks

Newmarket

9 Sarawia St, unit 405:
Features: one-bedroom apartment, carport
Outcome: passed in
Agent: Ray Qu

Remuera

171A Portland Rd, unit 2:
Features: 1/6 share in cross-lease, 2-bedroom unit, carport
Outcome: sold for $724,000
Agent: Steve Hood

Isthmus west

Mt Albert

135 Mt Albert Rd, lot 1:
Features: 368m² section, 227m² floor area, 5.2m² balcony, 5 bedrooms, 3 bathrooms, 5.2m² balcony, double internal-access garage
Outcome: no bid
Agents: Jane Wang & Angela Qi

135 Mt Albert Rd, lot 2:
Features: 369m² section, 232m² floor area, 5 bedrooms, 3 bathrooms, 9.4m² balcony, double internal-access garage
Outcome: passed in
Agents: Jane Wang & Angela Qi

135 Mt Albert Rd, lot 3:
Features: 390m² section, 222m² floor area, 5 bedrooms, 3 bathrooms, 12m² balcony, double internal-access garage
Outcome: no bid
Agents: Jane Wang & Angela Qi

135 Mt Albert Rd, lot 4:
Features: 390m² section, 220m² floor area, 5 bedrooms, 3 bathrooms, 11.5m² balcony, double internal-access garage
Outcome: no bid
Agents: Jane Wang & Angela Qi

23A Malvern Rd, units 1, 2 & 3:
Features: 1171m² section, 3 2-bedroom flats fronting Fowlds Park, , each with a carport
Outcome: no bid
Agents: Ashley Tait & Lisa Te Brake

Mt Eden

23 Fairview Avenue, unit 8:
Features: one-bedroom flat, deck, carport
Outcome: passed in, back on market at $548,000
Agent: Kun Hong    

Attribution: Company release.

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Corrected: 2 sales & 6 leases for Knight Frank

Knight Frank agents have reported 2 industrial sales in Mt Wellington and at Wigram, on the outskirts of Christchurch, plus 6 Christchurch leases. Th size of the Marua Rd building has been corrected.

Sales

Isthmus east

Mt Wellington

Corrected: 224 Marua Rd:
Features: 827m² site, 526m² [corrected: the figure originally given was just 26m²] warehouse with office & amenities
Outcome: sold for $1.08 million at a 4.8% yield
Agents: Scott Worrall & Michelle Kennard

South Island

Canterbury

Wigram

44 Dakota Crescent:
Features: 2852m² site, 1917m² industrial building
Outcome: sold for $2.825 million at a 6.55% yield
Agents: Myles Addington & Terry Connolly

Leases

South

East Tamaki

7 Springs Rd, ground floor:
Features: 347m² office, 10 parking spaces
Rent: $59,590/year net + gst + opex
Agent: Josh Franklin

South Island

Canterbury

Addington

12 Pope St:
Features: 205m² office, 6 parking spaces
Rent: $28,000/year net + gst + opex
Agent: Myles Addington

Middleton

223 Annex Rd, unit A:
Features: 208m² warehouse, 40m² showroom, 72m² office & amenities, 6 parking spaces
Rent: $32,500/year net + gst + opex
Agent: Myles Addington

Rolleston

35 Illinois Drive, unit 7:
Features: 139m² warehouse & office unit, 2 parking spaces
Rent: $19,500/year net + gst + opex
Agent: Myles Addington

Sockburn

19 Nga Mahi Rd, unit 3:
Features: 198m² warehouse, 42m² ground-floor office & showroom, 41m² first-floor office & mezzanine, 5 parking spaces
Rent: $32,000/year net + gst + opex
Agent: Myles Addington

13 Parkhouse Rd, unit 3:
Features: 234m² showroom & office, 150m² warehouse, 9 parking spaces
Rent: $59,550/year net + gst + opex
Agent: Myles Addington

Attribution: Agency release.

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3 intensive homes sell at auction

3 of 8 intensive suburban homes – units, townhouses & cross-leases – were sold at Barfoot & Thompson’s city auctions yesterday. Of the total 20 residential properties on offer (including standalone homes), 5 were sold.

Isthmus east

Mt Wellington

80 Banks Rd, unit 4:
Features: cross-lease, 1/6 share in 2612m², 4 bedrooms, garage
Outcome: passed in at $700,000
Agent: Hamish Hargrave

56 Ferndale Rd, unit 9:
Features: 2-bedroom unit, storage shed, carport
Outgoings: body corp levy $2108/year
Outcome: no bid
Agents: Jane Wang & Angela Qi

51 Ireland Rd, unit 20:
Features: 2-level 2-bedroom townhouse, study, offstreet parking
Outgoings: body corp levy $2773/year
Outcome: sold for $570,000
Agent: Sue Su

5 Lynton Rd, unit 4:
Features: cross-lease, quarter share in 1052m², 2-bedroom unit, carport
Outcome: no bid
Agents: Rain Diao

Parnell

65 Gibraltar Crescent:
Features: 3-bedroom townhouse, 2.5 bathrooms, double internal-access garage
Outcome: no bid
Agent: May Zhang

Remuera

10 Ingram Rd:
Features: cross-lease, half share in 807m², 4 bedrooms, double internal-access garage
Outcome: passed in at $1.96 million
Agents: Cici Wang & Carey Liu

Isthmus west

Grey Lynn

2A Wilton St:
Features: 2-level 2-bedroom unit, offstreet parking
Outcome: sold for $880,500
Agent: André Boddé

Mt Roskill

2 Fearon Avenue, unit 2:
Features: 2-bedroom unit, conservatory, carport
Outcome: sold for $652,000
Agents: Jim Liu & Cicy Zhu

Attribution: Auctions.

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Lessor sells 3 Ellerslie titles

The lessor’s interest in 3 Ellerslie titles is among 3 eastern suburbs sales by Bayleys commercial agents. An East Tamaki live/work unit has also been sold.

Isthmus east

Ellerslie

19-23 Kalmia St:
Features: Lessor’s interest in 3 titles totalling 1599m², 20-year perpetually renewable ground lease paid by 3 occupants, with 5-yearly rent reviews calculated by multiplying unencumbered freehold market value of land by 6.5%, next review November 2020; rezoned business – mixed use under the unitary plan with height limit increased to 18m
Rent: $114,000/year net + gst
Outcome: sold for $2.75 million at a 4.16% yield
Agents: Alan Haydock &Damien Bullick

Mt Wellington

284F Marua Rd:
Features: 91m² office/showroom unit with kitchen & amenities
Outcome: sold vacant for $430,000
Agents: Greg Hall & Sunil Bhana

Onehunga

37 Princes St:
Features: 320m² site zoned mixed use, 185m² industrial workshop, 2-year lease to auto tenant, final expiry in June 2018
Rent: $22,000/year net + gst
Outcome: sold for $850,000
Agents: James Valintine & Greg Hall

South

East Tamaki

7 Torrens Rd, unit 4A:
Features: 2-level work/live premises totalling 145m² plus balcony & private courtyard, 3 parking spaces; ground-floor showroom/office and low stud warehouse, 3-bedroom apartment on first floor
Outcome: sold for $650,000 with vacant possession
Agent: Mike Marinkovich

Attribution: Agency release.

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Shop & small industrial unit sell at auction

Barfoot & Thompson agents sold 2 commercial properties at auction yesterday, one a Mt Roskill liquor store and the other an industrial unit in Mt Wellington.

Isthmus east

Mt Wellington

84 Elizabeth Knox Place, unit 2:
Features: 140m² air-conditioned industrial unit – 2 offices, showroom, unconsented mezzanine floor, camera security system, 3 parking spaces
Outcome: sold vacant for $706,000
Agent: Mike Jensen

Isthmus west

Mt Roskill

1228 Dominion Rd:
Features: 159m² site, dual access, 238m² building, liquor store & basement,
Rent: $42,000/year + gst + outgoings, next rent review August 2018
Outcome: sold for $815,000 at a 5.15% yield
Agents: Nick Wilson & Cam Paterson

Attribution: Auction.

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Wairau Valley paint shop sells on 3.1% yield

If property auctions are losing their gloss as lending becomes tighter, Colliers’ auction in Auckland yesterday didn’t show too many signs of it.

The first property up, Resene Paints’ Wairau Valley outlet, was sold on a 3.1% yield and the second, a new warehouse in Wiri, went for a still strong 4.7%.

The other 2 properties up for auction were both vacant, one selling and the other passing in. The auction of the fifth property on the list, was deferred until next week.

Isthmus east

Mt Wellington

6 Rakino Way:
Features: on half share of 9000m² site, vacant 2198m² net lettable area – warehouse 1450m², ground-floor office 367m², first-floor office 381m², minimum stud height 5.6m rising to 7.2m², 2 roller doors, 26+ parking spaces
Outcome: passed in at $3.6 million
Agents: Ben Herlihy & Todd Kuzmich

North-east

Birkenhead

49-55 Birkenhead Avenue:
Features: 802m² site, 481m² of building over 3 levels, 5 tenants – 2 shops & 3 office tenancies
Rent: $109,830/year net + gst
Outcome: auction postponed to Wednesday 7 June
Agents: Euan Stratton & Jimmy O’Brien

Wairau Valley

8 Croftfield Lane:
Features: 2594m² site, 761m² building, 29% site coverage, new 10-year lease to Resene Paints Ltd starting 1 July + 10-year right of renewal
Rent: $175,000/year net + gst + opex
Outcome: sold for $5.6 million at a 3.1% yield
Agents: Ryan de Zwart, Matt Prentice & Shoneet Chand

South

East Tamaki

18 Ormiston Rd:
Features: 2791m² site, vacant 1670m² clearspan warehouse & office – factory workshop & amenities 1455m², factory office & amenities 70m², first-floor offices & entry 145m², covered deck 8.9m²
Rent: indicative rent $187,691, which would put the yield on sale price at 5.9%
Outcome: sold for $3.205 million
Agents: Jolyon Thomson & Paul Jarvie

Wiri

3 Stonehill Drive:
Features: 4215m² site, 2301m² floor area, built in 2016, 10-year lease to Jarvis Trading
Rent: $341,500/year net + gst
Outcome: sold for $7.25 million at a 4.7% yield
Agents: Paul Jarvie & Paul Higgins

Attribution: Auction.

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7 of 19 intensive homes sell at Barfoots

7 intensive properties sold out of 19 auctioned at Barfoot & Thompson’s city office over the last 3 days. They include apartments, suburban units, townhouses & homes on cross-leases.

At times the auctionroom was busy, more often quiet – not surprisingly so, given that the agency is putting through about the same number of properties in a week as it was pumping through in a day at the frenzied height of the market last year & briefly this year.

The properties listed below were auctioned between Tuesday afternoon & Thursday morning.

CBD

Learning Quarter

Silo, 23 Emily Place, unit 11H:
Features: 3-bedroom apartment, deck, 2 parking spaces
Outgoings: body corp levy $8677/year for the unit, $746/year for each parking space
Outcome: passed in at $900,000
Agents: Aaron Cook & Leo Shin

Argent Hall, 2 Eden Crescent, unit 14F:
Features: one-bedroom apartment, storage unit, parking space
Outgoings: body corp levy $6183/year
Outcome: passed in at $540,000, sold shortly after the auction for $557,000
Agents: Zoran Farac & Justin Choi

Isthmus east

Ellerslie

22 Marua Rd, unit 3:
Features: cross-lease, quarter share in 1214m², 4 bedrooms, double carport
Outcome: sold for $858,000
Agents: Alex Yang & Xia Wang

Mt Wellington

16 Bertrand Rd, unit 4:
Features: 2-bedroom unit, carport
Outcome: no bid
Agents: Robben Li & Will Liu

Newmarket

Queens Lodge, 176 Broadway, unit D505:
Features: one-bedroom apartment, secure parking space
Outgoings: body corp levy $1353/year for unit, $638/year for parking
Outcome: no bid, back on market at $580,000
Agent: Duncan Wu

Onehunga

90 Victoria St, unit 2:
Features: cross-lease, 1/9 share in 2056m², 2 bedrooms, garage
Outcome: no bid, back on market at $589,000
Agents: Leonie Stabler & Di Lynds

Parnell

4 Churton St, unit 4:
Features: 3-bedroom townhouse, 2 bathrooms, 2 parking spaces
Income assessment: appraisal $1350/week
Outcome: no bid, back on market at $1.775 million
Agent: Linda Galbraith

4 Churton St, unit 5:
Features: 3-bedroom townhouse, 2 bathrooms, 2 parking spaces
Income assessment: appraisal $1350/week
Outcome: no bid, back on market at $1.775 million
Agent: Linda Galbraith

4 Churton St, unit 7:
Features: 3-bedroom townhouse, 2 bathrooms, 2 parking spaces
Income assessment: appraisal $1350/week
Outcome: no bid, back on market at $1.775 million
Agent: Linda Galbraith

Isthmus west

Grey Lynn

23A Pollen St, unit 102:
Features: one-bedroom apartment, study nook, balcony, storage unit, secure parking space
Outgoings: body corp levy $3382/year
Outcome: sold for $741,000
Agents: George Damiris & Carl Madsen

Herne Bay

27 Wallace St, unit 1:
Features: one-bedroom apartment, parking space
Outgoings: body corp levy $3193/year
Outcome: passed in
Agents: Ashley Tait & Andre Bodde

Kingsland

52 Aitken Terrace, unit 1A:
Features: one-bedroom apartment, double garage
Outgoings: body corp levy $4743/year
Outcome: sold for $930,000
Agents: George Damiris & Carl Madsen

Mt Roskill

41A Marion Avenue:
Features: cross-lease, half share in 839m², 4 bedrooms, carport
Outcome: no bid
Agents: Denis Dias & Calvin Roche

25A Rogan St:
Features: cross-lease, half share in 813m², 3 bedrooms, 2 bathrooms, garage
Outcome: passed in
Agent: Tanzi Rose

Sandringham

32 Fowlds Avenue, unit 3:
Features: cross-lease, quarter share in 655m², 2-bedroom unit, garage
Outcome: sold for $687,000
Agent: Felix Bogdanovic

24 Morningside Drive, unit 4:
Features: 2-bedroom unit, garage
Outgoings: body corp levy $591/year
Outcome: sold for $639,000
Agent: Repeka Lelaulu

St Marys Bay

101 Shelly Beach Rd, unit 1:
Features: cross-lease, 1/6 share in 695m², 2-bedroom unit, deck, private courtyard
Outcome: passed in at $800,000
Agents: Carl & Rosanne Madsen

117 Shelly Beach Rd, unit 9:
Features: 3-bedroom terrace, 3 bathrooms, balcony, double garage
Outgoings: body corp levy $5418/year
Outcome: no bid
Agents: Carl & Rosanne Madsen

North-west

Henderson

85 Edmonton Rd, unit 18:
Features: 2-bedroom unit, offstreet parking
Income assessment: $360/week fixed until August
Outcome: sold for $489,000
Agent: Rosemary Giborees

Attribution: Auctions.

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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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3 industrial sales & 2 leases

Colliers agents have completed the sale of 2 industrial properties & one trade retail site in East Tamaki & Mt Wellington, and signed 2 leases on the Shore.

Sales

Isthmus east

Mt Wellington

3 Donnor Place:
Features: 2749m² industrial property
Outcome: sold for $4.3 million + gst at a 5.52% yield
Agents: Hamish West & Paul Higgins

South

East Tamaki

24A Harris Rd:
Features: 595m² trade retail site
Outcome: sold for $1.85 million + gst at a 5.99% yield
Agents: Jolyon Thomson & Paul Higgins

39D Lady Ruby Drive:
Features: 530m² industrial unit
Outcome: sold for $1.41 million + gst
Agents: Jolyon Thomson & Andrew Hooper

Leases

North-east

Mairangi Bay

5 Saturn Place, unit E:
Features: 140m² warehouse, 116m² office, occupied by Perry Engineering Auckland Ltd on 5-year lease plus 2 3-year rights of renewal
Rent: $40,000/year net
Agents: Mike Ryan & Ryan de Zwart

Rosedale

29 Canaveral Drive:
Features: 923m² industrial property, 5-year lease plus 2 3-year rights of renewal
Rent: $150,000/year net
Agents: Jimmy O’Brien, Matt Prentice & Shoneet Chand

Attribution: Agency release.

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