Archive | Panmure

Office building in new intensive housing zone sells

An office building (pictured) in Panmure now zoned for terrace housing & apartments sold at a flat 5% yield at NAI Harcourts’ auction yesterday.

Isthmus east

Panmure

2 Kings Rd:
Features: 951m² corner section, 509m² floor area, in new terrace housing & apartment buildings zone
Rent: $66,625/year net + gst + outgoings, one year remaining on lease
Outcome: sold for $1.33 million
Agents: Peta Laery & Richard White

Attribution: Agency release.

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Slow, but a 61% success rate at auctions

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

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

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

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

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

CBD

Albert St

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

Commerce/Gore

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

Federal St

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

Learning Quarter

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

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

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

Victoria Quarter

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

Waterfront

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

Isthmus east

Ellerslie

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

Epsom

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

Mt Wellington

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

Panmure

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

Parnell

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

St Johns

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

Isthmus west

Mt Eden

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

Waterview

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

North-west

Henderson

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

Attribution: Auctions, auction documents.

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All 4 commercial properties sell at Barfoots auction

All 4 commercial properties auctioned at Barfoot & Thompson’s city office yesterday were sold, one shortly after auction.

All 4 went at yields of 5% or slightly over that, although a mainstreet shop in Henderson (pictured) was rated “comfortably under-rented”.

Isthmus east

Onehunga

134 Captain Springs Rd:
Features: 1343m² light industrial site, 1002m² building – 908m² warehouse, 94m² office, near new roof & guttering, 3-phase power, leased to Vaico Ltd on 3+3+3-year lease term, market rent reviews every 2 years
Rent: $109,800/year net + gst     
Outcome: sold for $2,187,500 at a 5% yield
Agents: Nick Wilson & James Marshall

Panmure

2 Domain Rd:
Features: 248m² corner site, 49m² workshop, rezoned terraced housing & apartments
Rent: $24,000/year net + gst from long-term tenant
Outcome: sold post-auction for $460,000 at a 5.2% yield
Agent: Mike Jensen

Parnell

155 Parnell Rd:
Features: 68m² ground-floor retail unit, tenant on new 6-year lease from July 2016, covered parking space
Rent: $59,700/year net + gst + outgoings         
Outgoings: body corp levy $11,523/year
Outcome: sold for $1,172,500 at a 5.1% yield
Agents: John Stringer & Agnes Teh

North-west

Henderson

397 Great North Rd:
Features: 271m² site, 200m² mainstreet retail; auctioneer Murray Smith said the rent was “comfortably below market – it could be heading up to $40,000”
Rent: $27,130/year net + gst at a 4.98% yield on current rent, 7.3% on the potential $40,000
Outcome: sold for $545,000
Agents: Duane Mullooly & Chris Peterson

Attribution: Auction.

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Hobsonville Pt townhouse sells

One townhouse was sold out of 3 auctioned at Bayleys branches around Auckland last week.

Isthmus east

Newmarket

Domain Terraces, 1AE George St:
Features: 228m² Paddington terrace, 3 bedrooms, 2.5 bathrooms, loft, storage, 2 parking spaces
Outgoings: rates $3931/year including gst; body corp levy $11,739/year
Outcome: passed in
Agents: Gary & Vicki Wallace

Panmure

7B Sunset View Rd:
Features: 2-level duplex, 3 bedrooms, 2 bathrooms, double internal-access garage
Outcome: passed in, back on market at $849,000
Agents: Tim Stewart

North-west

Hobsonville Point

Buckley, 2 Station St:
Features: 3 bedrooms, 2 bathrooms, 2 lounges, parking space, one-year-old GJ Gardner townhouse
Outcome: sold for $900,000
Agents: Clare Ellis & Amelia-Jane Hoffmann

Earlier story:
Updated 22 August 2017: Updated: Now 3 commercial sales but homes passed in at auction

Attribution: Agency release.

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5 intensive homes, 4 standalones sell at auctions

Out of 18 intensive homes (apartments, suburban flats & homes on cross-leased sites) auctioned at Barfoot & Thompson’s city office over 5 sessions this week, 3 apartments & a cross-lease were sold under the hammer, and another cross-lease was sold post-auction.

Both apartments taken to mortgagee auction were sold. The auction of one apartment was postponed.

All up, 32 residential properties were offered at those 5 sessions (from Tuesday afternoon to Thursday morning). On top of the 5 intensive homes sold, 4 standalone homes were sold out of the 14 auctioned.

CBD

Albert St

Quay West, 8 Albert St, unit 2703:
Features: 3 bedrooms, 2 bathrooms, 2 covered parking spaces
Outgoings: body corp levy $19,999/year + gst ($13,888 opex, $6111 reserve)
Outcome: passed in at $1.73 million, back on market at $1.79 million
Agents: Helen Lin & Cici Wang

Learning Quarter

UniLodge, 138 Anzac Avenue, unit 201:
Features: leasehold, one-bedroom student apartment
Outgoings: body corp levy $7520/year ($3014 operating fund, $4507 ground rent), $18,274 of arrears owed at 30 June
Outcome: sold for $58,000 at mortgagee auction
Agent: Philip Davis

Uptown

C-Vu, 36 Day St, unit 6G:
Features: 2 bedrooms, deck, parking space; building is undergoing remediation, this apartment now ready for occupation
Outgoings: I don’t have these details, which would affect price
Outcome: sold for $461,000 at mortgagee auction
Agent: Philip Davis

Chatham, 70 Pitt St, unit 702:
Features: 50m², one-bedroom apartment, parking space, storage locker
Outgoings: body corp levy $6487/year
Outcome: auction postponed
Agents: Wendy Feng & Jack Li

132 Vincent St, unit 3C:
Features: 81m², 2-bedroom apartment, 2 bathrooms (both with underfloor heating), balcony, parking space, high stud ceilings
Outcome: passed in at $760,000
Agents: Stephen Shin & Justin Choi

132 Vincent St, unit GC:
Features: 81m², 2-bedroom apartment, 2 bathrooms (both with underfloor heating), 11m² covered deck, high stud ceilings, option to buy a parking space
Outgoings: body corp levy $5004/year + $473 lift special levy
Outcome: no bid, back on market at $769,000
Agent: Betty Shao

Isthmus east

Epsom

562B Manukau Rd:
Features: 3-bedroom townhouse, 2 bathrooms, 2 toilets, internal-access double garage
Outgoings: body corp levy zero – owners will maintain their own units
Outcome: passed in, back on market at $1.36 million
Agents: Allen Wang

Meadowbank

7 Hawkins St, unit 1:
Features: 2-bedroom unit
Outgoings: body corp levy $1158/year
Outcome: passed in
Agents: Danny Upton & James Yu

Panmure

43 Kings Rd, unit 5:
Features: cross-lease, 1/5 share in 1230m², 2 bedrooms, deck, carport
Outcome: sold for $644,000
Agents: Margaret Johnston & Phyllis Brooks

Parnell

9-11 Fox St, unit 1:
Features: 95m², 2-bedroom apartment, high stud, parking space, 2 large outdoor living areas, parking space
Outgoings: body corp levy $7707/year
Outcome: sold for $700,000
Agent: Cindy Yu

Remuera

82 Bassett Rd, unit 4:
Features: cross-lease, 7/50 share in 3192m², 2 levels, 3 bedrooms, decks, garage
Outcome: passed in, back on market at $1.39 million
Agents: Cici Wang & Leo Liu

Isthmus west

Mt Albert

101 Richardson Rd, unit 2:
Features: cross-lease, 1/5 share in 1439m², 2 bedrooms, carport
Outcome: no bid, back on market at $659,000
Agents: Christine Wooding & Joanne Yu

101 Richardson Rd, unit 3:
Features: cross-lease, 1/5 share in 1439m², 2 bedrooms, carport
Outcome: no bid, sold post-auction
Agents: Christine Wooding & Joanne Yu

Mt Roskill

14A Glass Rd:
Features: cross-lease, half share in 822m², 4 bedrooms, 2 bathrooms, garage
Outcome: no bid, back on market at $865,000
Agents: Frances Li & Ian Thornhill

Sandringham

11A Watson Avenue:
Features: cross-lease, half share in 1181m², 3 bedrooms, 2 bathrooms, office, deck, internal garage
Outcome: passed in, back on market at $1.565 million
Agents: Kath & Dayle Barnes

North-west

New Lynn

34 Miro St, unit 3:
Features: cross-lease, 1/3 share in 1011m², 67m² unit, 3 bedrooms, 2 bathrooms, carport
Outcome: no bid, back on market at $729,000
Agent: Lawrence Yuan

Attribution: Auctions.

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4 intensive properties sell

4 intensive residential properties were sold at Barfoot & Thompson’s city auctions on Wednesday, out of 11 units & cross-leases offered (Thursday results to come in separate story).

Isthmus east

Epsom

55 Empire Rd:
Features: cross-lease, half share in 965m², 3 bedrooms, double internal-access garage
Outcome: sold for $1.66 million
Agents: Di Lynds & Leonie Stabler

Glendowie

18 Cranbrook Place, unit 1B:
Features: 3 bedrooms, carport
Outgoings: body corp levy $1472/year
Outcome: passed in
Agents: Jane Wang & Dragon Zhou

18 Cranbrook Place, unit 6A:
Features: 2-bedroom unit
Outgoings: body corp levy $1153/year
Outcome: passed in
Agent: Zdenka Zinajic

Kohimarama

21A Melanesia Rd:
Features: cross-lease, 1/3 share in 766m², 3 bedrooms, double garage
Outcome: passed in
Agents: Maree Currie & Paul Robertson

Panmure

12 Kings Rd, unit 4:
Features: cross-lease, quarter share in 1256m², 3 bedrooms
Outcome: passed in
Agent: Nanette Graham

Parnell

20A St Georges Bay Rd:
Features: cross-lease, quarter share in 835m², 2 bedrooms, study, double internal-access garage
Outcome: passed in at $1 million
Agent: Linda Galbraith

St Heliers

42 West Tamaki Rd:
Features: cross-lease, 1/3 share in 1098m², 3 bedrooms, double carport
Outcome: sold for $1.14 million
Agents: Sam Bowen & Charles Benedict

Isthmus west

Grey Lynn

14 Peel St, unit 1:
Features: cross-lease, half share in 946m², 3-bedroom villa
Outcome: sold for $1.5 million
Agent: Carl Madsen

Hillsborough

28E Hillsborough Rd:
Features: cross-lease, 1/5 share in 1960m², 5 bedrooms, offstreet parking
Outcome: no bid
Agents: John Zhang & Kevin Sun

North-west

Massey

188 Waimumu Rd, unit 2:
Features: 2-bedroom unit, garage
Outcome: passed in at $510,000
Agents: Sunny Chae & Chris Lee

South

Howick

92B Howe St:
Features: cross-lease, half share in 1017m², 3 bedrooms, double garage
Outcome: passed in at $865,000, sold shortly after for $870,000
Agents: Sara-Jayne Kingston & Sheryl Orchard

Attribution: Auctions.

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Updated: Wairau Valley car yard sells at over $2000/m² at Bayleys auction

Published 18 May 2017, updated 21 & 28 May 2017:
11 of the 21 commercial properties auctioned by Bayleys on Wednesday in its third Total Property portfolio for the year were sold under the hammer. 2 more have been sold post-auction – first, 100 Hinemoa St, Birkenhead, followed by 44 College Hill.

The first were sold, followed by a lull, but 2 of the most expensive offerings were well down the auction list.

One was a Wairau Valley car sales yard, set among a line of lowrise buildings jammed between the Northern Motorway & Wairau Rd on the North Shore, a stretch where the height limit is now 20m under the unitary plan.

The car yard was sold at $2365/m², which means it’s destined for multi-level development.

2 properties were sold for $4 million, both in Henderson. The first was a bank branch on Great North Rd, sold on a 5.5% yield, and the second, a Supercheap Auto outlet in the Lincoln North shopping centre, sold on a 5.3% yield.

CBD

Victoria Quarter

166 Hobson St:
Outcome: sold prior
Agents: Sarah Boles & Terry Kim
Story, 11 May 2017: 12 years after demolition order scrapped, Hobson St building sells

Isthmus east

Panmure

63 Queens Rd:
Features: 97m² retail unit on 2 levels occupied by Willow Hair Design, parking space
Rent: $24,000/year net + gst on new 3-year lease with 2 2-year renewals
Outcome: passed in
Agents: Ken Hu

Parnell

385 Parnell Rd, unit E:
Features: 54m², retail fully leased on month-to-month basis, 2 secure parking spaces
Rent: $32,760/year net + gst
Outcome: sold for $505,000
Agents: Andrew Wallace & Cameron Melhuish

Remuera

563 Remuera Rd:
Features: 144m² cafe, Upland Rd shopping village
Rent: $76,104/year net + gst
Outcome: sold for $1.6 million
Agents: Cameron Melhuish & Andrew Wallace

Isthmus west

Freemans Bay

42 College Hill:
Features: 511m² section, house with 124m² floor area, onsite parking
Rent: $44,500/year net + gst
Outcome: passed in at $1.5 million
Agents: James Were & Scott Kirk

Updated: 44 College Hill:
Features: 389m² section, house, onsite parking
Rent: $44,000/year net + gst
Outcome: passed in, sold post-auction for $1.5 million
Agents: James Were & Scott Kirk

Mt Roskill

74 Carr Rd:
Features: 835m² site, 697m² single-level building
Outcome: withdrawn from auction, changed to sale by deadline private treaty
Agents: Tony Chaudhary & Sunil Bhana

North

Kaikohe

39 Station Rd:
Features: 7199m² commercial property in 2 titles
Outcome: withdrawn from auction
Agents: John Greenwood & Paul Dixon

Warkworth

The Grange, 67 Auckland Rd, unit 11:
Features: 59m², Fish Nets fish & chips shop on 10-year lease in new retail development
Rent: $30,975/year net + gst
Outcome: passed in at $480,000
Agents: Matt Lee, Jan Hutcheson & James Chan

North-east

Albany

75 Corinthian Drive, unit L1:
Features: 197m² first-floor office, new 6-year lease in place with renewal rights, 5 parking spaces
Rent: $58,800/year net + gst + outgoings
Outcome: sold for $1.095 million
Agents: Jane Sims & Tonia Robertson

Birkenhead

Updated: 100 Hinemoa St:
Features: 757m² corner site, 421m² 2-storey building
Rent: $103,907/year net + gst from 6 tenancies
Outcome: passed in at $2.7 million, sold post-auction for $2.7 million
Agents: Simon Aldridge & David Huang

27-33 Mokoia Rd, units 4, 5 & 7:
Features: 59m² total, 3 strata units next to Highbury mall, tenants are a dry cleaner & kebab shop, third unit vacant
Agents for all 3: Michael Nees, Owen Ding & Oscar Kuang
Unit 4, vacant:
Outcome: passed in at $300,000
Unit 5, kebab shop:
Rent: $24,000/year net + gst, lease running to 2030
Outcome: passed in at $470,000
Unit 7, dry cleaners:
Rent: $18,942/year net + gst, lease 6 years from last October
Outcome: passed in at $300,000

225 Onewa Rd:
Features: cross-lease, 1/3 share in 913m², vacant ex-surgery, 5 parking spaces
Outcome: sold for $650,000
Agents: Michael Nees, Owen Ding & Oscar Kuang

Rosedale

7 Vega Place, unit E:
Features: 272m² industrial unit,
Rent: $52,000/year net + gst from established tenants on new leases
Outcome: sold for $980,000
Agents: James Kidd & Matt Mimmack

Silverdale

1 Polarity Rise, ground floor:
Features: 145m², 2 shops on 2 titles for sale as one
Rent: $61,966.70/year net + gst + opex
Outcome: passed in
Agents: Ashton Geissler, Eddie Zhong & Mustan Bagasra

Takapuna

424 Lake Rd:
Features: 3 tenancies
Rent: $61,950/year net + gst, rising to $63,383 in November,
Outcome: sold for $1.5 million
Agents: Michael Nees & David Huang

Wairau Valley

107 Wairau Rd:
Features: 1184m² site, 13-year-old car dealership Car7, 40m² office 
Rent: $63,600/year net + gst, redevelopment potential up to 20m height limit
Outcome: sold for $2.8 million at $2365/m²
Agents: Brian Caldwell & Ranjan Unka

North-west

Henderson

Lincoln North Shopping Centre, 192 Lincoln Rd, unit A1:
Features: 756m² retail unit, 7-year lease to Supercheap Auto from July 2016
Rent: $212,292.82/year net + gst
Outcome: sold for $4 million at a 5.3% yield
Agents: Matt Lee, Tony Chaudhary & James Chan

373 Great North Rd:
Features: 808m² corner site, 1240m² floor area, BNZ as tenant on lease to 2020 with further renewal rights, basement parking
Rent: $219,360/year net + gst + opex, rent review in December
Outcome: sold for $4 million
Agents: Mike Adams & Laurie Burt

South

East Tamaki

44D Andromeda Crescent:
Features: 400m² industrial unit – high stud, clearspan warehouse 300m², office/amenities 40m², mezzanine 60m²
Outcome: sold for $735,000
Agents: Nelson Raines

Mangere Bridge

19 Coronation Rd:
Features: 273m² town centre site, 160m² bank branch, seismic rating 67% of new building standard
Rent: $34,000/year net + gst
Outcome: sold for $973,000
Agents: Nicolas Ching & Beterly Pan

South of the Bombays

Hawke’s Bay

Napier, Onekawa

Deco City Motor Lodge, 308 Kennedy Rd:
Features: 2682m² site, 30 studios and 1- & 2-bedroom units, conference suite, manager’s quarters, freehold going concern, Qualmark 4.5 stars, in Host Accommodation Group, seismic rating 80% of new building standard
Outcome: no bid
Agents: Paul Dixon, Daniel Moffitt & Carolyn Hanson

Attribution: Company 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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10 sell at Bayleys’ commercial auction

9 properties were sold under the hammer and one post-auction of the 17 in Bayleys’ commercial auction yesterday. Another 3 were sold prior.

[Today’s report is short on some detail.]

CBD

Learning Quarter

5 Eden Crescent, units A & B:
Features: 600m² strata title, renovated, licensed karaoke bar & restaurant
Rent: $161,000/year net + gst
Outcome: passed in at $2.5 million
Agents: Oscar Kuang & Nicolas Ching

Queen St

239 Queen St, unit 1A:
Features: new 12-year lease
Rent: $150,657/year net + gst
Outcome: withdrawn from auction
Agents: Quinn Ngo & James Chan

Isthmus east

Ellerslie

38 Eaglehurst Rd, unit 7:
Features: warehouse
Outcome: declared reserve of $600,000, sold for $800,000
Agents: Andrew Wallace & Cameron Melhuish

Epsom

206 Manukau Rd:
Features: 898m² corner section,
Rent: $67,340/year holding income
Outcome: passed in at $3.55 million
Agents: Owen Ding & James Chan

Mission Bay

2 Atkin Avenue, unit 1:
Features: 374m² site zoned mixed use (up to 18m) under unitary plan, 3-bedroom unit, garage
Outcome: sold for$1.955 million
Agents: Phil Haydock & Angela Yang

Onehunga

18 George Terrace:
Features: 342m² site zoned mixed use, warehouse, office, amenities
Outcome: sold for $1.072 million
Agents: James Valintine & William Gubb

4 Newsome St:
Features: 493m², permissible height 20m
Outcome: no bid
Agents: Tony Chaudhary & James Valintine

Panmure

100 Queens Rd:
Features: town centre zone under unitary plan
Rent: $121,000/year net + gst
Outcome: passed in at $1.6 million
Agents: Mark Pittaway

Isthmus west

Eden Terrace

12 Fleet St:
Features: 336m² site
Rent: $52,260/year
Outcome: sold prior at declared reserve of $1.25 million
Agents: James Were & Scott Kirk

Mt Roskill

439 Mt Albert Rd:
Features: corner site, 4-bedroom home, internal garage, 3 commercial tenancies on ground floor
Outcome: auction postponed
Agents: Phil Haydock & Angela Yang

Ponsonby

91 College Hill:
Features: 337m² site zoned mixed use, 275m² gross floor area, 5 secure parking spaces
Outcome: sold for $2,577,500
Agents: Nigel McNeill & Meredith Graham

Sandringham

513 Sandringham Rd:
Features: retail + refurbished 3-bedroom flat
Rent: $88,060/year
Outcome: sold for $1.75 million
Agents: Scott Kirk & Damien Bullick

North-east

Northcote

44 Akoranga Drive:
Features: 946m² corner site, mixed use zone next to AUT
Outcome: sold for $2.5 million
Agents: Michael Nees & Simon Aldridge

Takapuna

6 & 6A Blomfield Spa:
Outcome: withdrawn from auction
Agents: Simon Aldridge & David Huang

Wairau Valley

170 Wairau Rd, unit 18:
Features: Hell Pizza on long-term lease
Rent: $54,000/year net + gst + outgoings
Outcome: sold for $990,000
Agents: Paul Dixon & Tony Chaudhary

North-west

Glendene

3 Bancroft Crescent:
Features: 3584m² site, long-term tenant, 6-year lease term with renewal rights
Rent: $225,000/year net + gst
Outcome: passed in at $2.775 million
Agents: Dave Stanley & Stuart Bode

New Lynn

3019 Great North Rd & 2 Bentinck St:
Features: 1459m² corner site in 2 titles, vacant possession
Outcome: passed in at $1.625 million at $1114/m²
Agents: Mike Adams & Scott Kirk

South

Botany Downs

286 Cascades Rd:
Features: 7493m² site opposite Pakuranga golfcourse, 70m frontage to Cascades Rd
Outcome: sold for $6.1 million
Agents: Dave Stanley & Graeme Sun

Botany South

Bishopsgate business centre, 2 Bishop Dunn Place, unit 32:
Features: 134m² first-floor office, storage, 2 parking spaces
Outcome: sold for $465,000
Agents: Geoff Wyatt & Dave Stanley

Takanini

292 Great South Rd:
Features: 2209m² site, standalone office & warehouse building anchored by long-term office lease + 2 warehouse tenants
Rent: $152,592/year net + gst
Outcome: sold for $2.68 million
Agents: Sunil Bhana & Peter Migounoff

South of the Bombays

Gisborne

412 Gladstone Rd:
Features: 670m² store, seismic rating 100% new building standard, 6-year lease term
Rent: $122,569/year
Outcome: passed in at $1.5 million, sold post-auction for $1.52 million at an 8% yield
Agents: Paul Garland & Colin McNab

Attribution: Auction.

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6 intensive homes sell at Barfoots

6 of the 12 intensive homes (apartments, suburban units & cross-leased houses) auctioned at Barfoot & Thompson’s city office on Wednesday were sold under the hammer.

17 of the 38 residential properties auctioned in the day’s 2 sessions were sold under the hammer or shortly after.

CBD

Learning Quarter

Waldorf Bankside, 8 Bankside St, unit 8C:
Features: one-bedroom apartment
Income assessment: $400/week current
Outcome: sold for $288,000
Agents: Rain Diao & Beili Yi

Isthmus east

Grafton

49I Seafield View Rd:
Features: one-bedroom apartment, carport
Outcome: sold for $300,000
Agent: Alex Baker

One Tree Hill

55 Rawhiti Rd, unit 4:
Features: cross-lease, 1/5 share in 981m², 2-bedroom unit
Outcome: passed in at $660,000, sold shortly after auction
Agents: Cici Wang & Helen Lin

Panmure

30 Ireland Rd, unit 1:
Features: 2-bedroom unit, internal-access garage
Outcome: sold for $656,000
Agents: Margaret Johnston & Phyllis Brooks

Remuera

658 Remuera Rd, unit 2:
Features: 2-bedroom unit, deck, 2 garages
Outcome: sold for $1.08 million
Agents: Paul Robertson & Maree Currie

Isthmus west

Herne Bay

24A Hamilton Rd, unit 3:
Features: 2-bedroom unit, balcony, courtyard, carport
Outgoings: body corp levy $3892/year
Outcome: sold for $700,000
Agent: Felicity Scott

Mt Albert

103A St Lukes Rd, units 1-6:
Features: 1590m² section, 6 remodelled 3-bedroom units, offstreet parking
Outcome: passed in
Agents: George Fong & Laura McAuley

Mt Eden

13 Bank St:
Features: cross-lease, half share in 1387m², 3-bedroom bungalow
Outcome: no bid
Agents: Vern Hines & Sara Knight

11B Horeka Avenue:
Features: cross-lease, 1/3 share in 1283m², 3-bedroom house, garage
Outcome: passed in
Agents: Leonie Stabler & Di Lynds

Pt Chevalier

10 Walmer Rd:
Features: cross-lease, half share in 695m², 3-bedroom bungalow, garage
Outcome: no bid
Agent: Travis Nicholls

Westmere

11D Garnet Rd:
Features: 2-bedroom apartment, balcony, secure internal-access double garage
Outcome: sold for $1.01 million
Agents: Carl & Roseanne Madsen

South

Manurewa

144, 144A & 144B Browns Rd:
Features: 2939m², 3 homes on separate titles, consent for 12 dwellings
Income assessment: $68,000/year current
Outcome: no bid
Agents: Thomas & Helen Weber

Attribution: Auctions.

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