Archive | Isthmus west

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

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. One more – 100 Hinemoa St, Birkenhead – has been sold post-auction.

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

44 College Hill:
Features: 389m² section, house, onsite parking
Rent: $44,000/year net + gst
Outcome: passed in
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Outcome: withdrawn from auction, changed to sale by deadline private treaty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Outcome: withdrawn from auction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.

Continue Reading

5 intensive residentials & 2 warehouses sell at Barfoots

Barfoot & Thompson sold 5 intensive residential properties – apartments, townhouses, suburban units, cross-leases – at its city auctions on Wednesday-Thursday, leaving 9 unsold, and sold both commercial properties on offer.

After some long silences during the residential auction yesterday, one of the warehouses was brought back and sold after some spirited bidding. The other warehouse was sold shortly after auction.

Apartments

CBD

Queen St

Queen’s Residences, 8 Airedale St, unit 1104:
Features: one-bedroom apartment, study, balcony
Outgoings: body corp levy $1858/year
Outcome: sold for $470,000 at auction brought forward
Agents: Simon Cai & Terry Kim

Uptown

Amora, 100 Greys Avenue, unit 7D:
Features: one-bedroom apartment, management contracted to the hotel until 2020, hotel pays body corporate & council levies, annual CPI increases for income
Outgoings (paid by hotel): body corp levy $4531/year + one-off $1628 special levy to install common area air-conditioning
Income assessment: exceeding $9800/year + gst
Outcome: sold for $215,000
Agents: Mike Campbell

Victoria Quarter

Harbour Green, 11 Union St, unit 1110:
Features: refurbished 2-bedroom apartment, balcony, carport
Outgoings: rates $1316/year including gst; body corp levy $5185/year
Income assessment: $520-540/week
Outcome: no bid
Agents: Selina Zheng

SugarTree, 27 Union St, unit 809:
Features: 2-bedroom apartment, 2 bathrooms, study, 2 balconies, storage locker, parking space
Outgoings: body corp levy $6999/year
Outcome: passed in at $870,000, back on market at $890,000
Agents: Livia Li & Alan Guo

Isthmus east

Epsom

1 Epsom Avenue, unit 1:
Features: cross-lease, 1/10 share in 1438m², 3-bedroom unit, balcony, carport
Outcome: no bid, back on market at $765,000
Agents: George Fong & Paul Sun

614C Manukau Rd:
Features: cross-lease, 1/4 share in 800m², 3 levels, 4 bedrooms, 4 bathrooms, 2 living areas, double internal-access garage
Outcome: no bid
Agents: Diana & Peter West

Mission Bay

Garden Court, 105 Tamaki Drive, unit 12:
Features: 2-bedroom apartment, parking space; the asset offered was 6500 shares in Garden Court Flats Ltd & the right to vacant possession of this flat
Outcome: passed in at $1 million
Agents: Andy Dye

Parnell

Farnham Terraces, 8 Farnham St, unit 2A:
Features: 140m², 2-bedroom terrace, 2 bathrooms, storage locker, tandem parking
Outgoings: body corp levy $6278/year
Outcome: passed in at $931,000
Agents: Selina Zheng & Jason Li

Royal Oak

16 Beckenham Avenue, unit 1:
Features: cross-lease, half share in 817m², 3 bedrooms, 2 bathrooms, internal-access garage
Outcome: sold for $1.301 million
Agents: Leonie Stabler & Di Lynds

St Johns

23 Strong St, unit 1:
Features: cross-lease, quarter share in 622m², 2-bedroom unit, deck, parking space
Outcome: passed in, back on market at $610,000
Agents: Cristina Casares & Jacqui Freeman

Isthmus west

Eden Terrace

10 Flower St, unit 105:
Features: 2-bedroom apartment, parking space
Outgoings: body corp levy $3912/year
Outcome: no bid
Agents: Jason Buckwell

Herne Bay

37 Sentinel Rd, unit 2:
Features: cross-lease, 1/3 share in 1442m², 3-bedroom freestanding townhouse, 2 bathrooms, attic, double garage
Outcome: sold for $1.56 million
Agents: Jack Atherton & Sherryl Jones

Mt Albert

21 Burch St, unit 6:
Features: 86m², 2-bedroom unit, balcony, garage
Outgoings: body corp levy $1040/year
Outcome: sold for $795,000
Agents: Lisa Redgrove & George Damiris

Mt Eden

69 View Rd, unit 4:
Features: cross-lease, 1/6 share in 769m², 2-bedroom apartment, offstreet parking
Outcome: passed in, back on market at $745,000
Income assessment: $540/week current
Agents: Frank Excell & Ketiesha Elliott

Commercial

Isthmus east

Onehunga

154 Captain Springs Rd:
Features: 1793m² site, 1321m² warehouse with small office, 300m² front yard, 250m from Te Papapa Station
Rent: $122,000/year net + gst + outgoings on monthly arrangement
Outcome: passed in at $2.275 million, sold for $2.476 million after further negotiation
Agents: James Marshall & Nick Wilson

Penrose

922 Great South Rd:
Features: vacant 1163m² site, 482m² warehouse, showroom & office, 450m² yard, 21 parking spaces
Outcome: passed in with no bid, sold for $1.302 million after auction reopened
Agents: Nick Wilson & James Marshall

Attribution: Auctions.

Continue Reading

4.3% yield in Morningside reflects area’s transformation

Agents who sold a dual-frontage Morningside property on a 4.3% yield say the suburb is seeing changes under the unitary plan, improved access & intensive residential development that will transform it in a short timeframe.

Under the unitary plan, the property at 617 New North Rd is in the local centre business zone, which allows for retail, office, food, beverage, apartments & commercial services. “Developers may build up to 18m in this zone,” JLL agent Jarred Hill said.

Leases on this property run through to 2024, but around it considerable change is anticipated, partly arising from improved motorway & rail links: “It’s around 1.2km to the North-western Motorway system, a 12-minute walk from Kingsland village, and only a few minutes’ walk to Morningside railway station. Access will only improve once the city rail link upgrade is complete.”

Alex Wefers said the area was being developed and would see substantial population growth – up by a third (13,000) through to 2043. The Urbanaut craft brewery has just opened at 597 New North Rd, and the Station 580 apartment complex is due to open at 580 New North Rd late next year.

Isthmus west

Morningside

617 New North Rd:
Features: 943m² site, 2 buildings on one title with combined floor area of 505m², leased to the Unite Union & Peel to Pip Café, with 2-bedroom apartment occupied by café tenants, both leases have final expiries in 2024, 6 parking spaces, dual street frontage to Western Springs Rd & New North Rd
Rent: $108,398/year net combined rent
Outcome: sold for $2.5 million at a 4.3% yield
Agents: Alex Wefers & Jarred Hill

Attribution: Agency release.

Continue Reading

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.

Continue Reading

3 central apartments sell

The 3 central city apartments sold under the hammer at Ray White City Apartments’ auction yesterday were a mix – a luxury residence in the Precinct (pictured), high above Lorne St, a leasehold unit in Q Central at the top of Queen St, and a studio in the Fiore on Hobson St. In contrast to the competition for them, a unit in Kingsland attracted only one bid.

CBD

Lorne St

Precinct Residences, 6 Lorne St, unit 801:
Features: 140m², 3 bedrooms, 2 bathrooms, parking space
Outgoings: rates $2241/year including gst; body corp levy $7669/year
Outcome: sold for $1.325 million
Agents: Tanya Kwasza & Marie Graham

Uptown

Q Central, 54 Liverpool St, unit 7B:
Features: leasehold, 59m², 2 bedrooms
Outgoings: rates $1582/year including gst; body corp levy $3549/year, ground rent $7642/year
Income assessment: $550-580/week
Outcome: sold for $125,000
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Victoria Quarter

Fiore on Hobson, 152 Hobson St, unit 204:
Features: 30m² fully furnished studio, 5m² balcony, parking space
Outgoings: rates $1240/year including gst; body corp levy $2867/year
Income assessment: $420-460/week furnished; parking space currently rented at $60/week
Outcome: sold for $360,000
Agents: Mitch Agnew & Krister Samuel

Isthmus west

Kingsland

9 Don Croot St, unit 1:
Features: 48m², part-furnished 2 bedrooms, parking space
Outgoings: rates $1349/year including gst; body corp levy $2007/year
Income assessment: $480-520/week
Outcome: passed in after one bid at $450,000 & vendor bid at $500,000
Agents: Mitch Agnew & Ryan Bridgman

Attribution: Auction.

Continue Reading

Sales start to flow post-auction

City Sales had an unsuccessful hour in the auctionroom on Wednesday as all 6 apartments were passed in, but by the end of the afternoon had 2 sold conditionally and offers had been made on 2 more.

The 2 conditional sales were at the Zest on Nelson St and The Point on the Viaduct Basin.

The Point unit was taken to market by the receiver & manager of owner Glenys Treweek’s affairs, Tom Rodewald of Tauranga, appointed on 30 March. The apartment has 3 mortgages over it, 2 registered last year and the third registered on Monday to the owner of another unit in the building.

Ms Treweek was crowned Miss New Zealand in 1970, and in recent years was involved in property investment & the thoroughbred industry. Her partner, longtime property investor & stud owner Michael Tololi, was bankrupt from 2010-13 after creditors turned down his debt-compromise offer of $300,000 to have been paid over time on $40.3 million of debt. Ms Treweek was a director of Karaka companies Karaka Group Ltd, Stony Bridge Thoroughbreds Ltd & Twin Pines Thoroughbreds Ltd.

CBD

Quay Park

Grand Central, 26 Te Taou Crescent, unit 109:
Features: leasehold, 34m², 2 bedrooms
Outgoings: rates $1101/year including gst; body corp levy $11,652/year including ground rent
Income assessment: $385/week current
Outcome: passed in at $49,000 (excluding gst)
Agents: Tom Faye

Uptown

Hereford Residences, 8-15 Hereford St, unit 11D:
Features: 84m², 2 bedrooms, 2 bathrooms, parking available from developer at $80,000/space
Income assessment: $750-800/week
Outcome: passed in at $825,000
Agents: Tom Faye & Anna Birkenhead

Victoria Quarter

Zest, 72 Nelson St, unit 228:
Features: 32m², 2 bedrooms, deck
Outgoings: rates $1037/year including gst; body corp levy $3197/year
Income assessment: $450-500/week
Outcome: passed in at $307,000, sold conditionally post-auction, price confidential
Agents: Steve Kirk & Habeeb Urrahman

Waterfront

The Point, 121 Customs St, unit 415:
Features: leasehold, 92m², 2 bedrooms, 2 bathrooms, 24m² deck, 2 parking spaces
Outgoings: rates $3584/year including gst; body corp opex levy $9606/year, ground rent $14,079/year
Income assessment: $1100/week
Outcome: passed in at $910,000, sold post-auction conditional on vendor consent, price confidential
Agents: Gabrielle Hoffmann & Nicola Hunt

Isthmus west

Eden Terrace

Memphis, 11 Charlotte St, unit GI:
Features: 47m², one bedroom, deck, storage locker, parking space
Outgoings: rates $1169/year including gst; body corp levy $3153/year
Income assessment: $450-500/week
Outcome: passed in at $450,000
Agents: Steve Kirk & Habeeb Urrahman

North-west

New Lynn

10 Crown Lynn Place, unit 3L:
Features: 28m² studio; unallocated parking is available on the property
Outgoings: rates $853/year including gst; body corp levy $2320/year
Income assessment: $280/week
Outcome: passed in at $90,000
Agents: Trish Shanaghan

Attribution: Auction.

Continue Reading

Former Ponsonby fire station sale settles

Sale of the former fire station at 182 Ponsonby Rd (pictured) has settled after a tender process that closed in December, but Bayleys, which handled the sale, said the buyer hadn’t been disclosed. The brigade moved out of its station on the corner of Lincoln St last May for new premises at 134 Williamson Avenue, Grey Lynn.

Also in Ponsonby, a showroom across Ponsonby Rd has been leased.

Sale:

Isthmus west

Ponsonby

182 Ponsonby Rd:
Features: 1400m2  vacant site on corner of Lincoln Rd containing 820m2  2-level former fire station building & large rear yard currently a Wilson’s carpark; town centre zoning has 13m height limit to ensure any new development is in keeping with other buildings along Ponsonby Rd
Outcome: sold for $12 million
Agents: Cameron Melhuish & Mike Adams

Lease:

161 Ponsonby Rd, ground floor:
Features: 120mshowroom leased for 3 years plus 2 3-year rights of renewal to recycled clothing retailer
Rent: $100,000/year net + gst at $833/m2
Agent: Quinn Ngo

Earlier story:
11 November 2016: Last Ponsonby fire station goes on market

Attribution: Agency release.

Continue Reading

Siena Terraces & Nova en Scotia apartments sell

2 apartments were sold and 3 passed in at Ray White City Apartments’ auction today.

The sales were at Siena Terraces in Grey Lynn (pictured) and Nova en Scotia, overlooking Myers Park in the central city.

CBD

Learning Quarter

Argent Hall, 2 Eden Crescent, unit 7B:
Features: 48m², one bedroom, basement storage locker
Outgoings: rates $1215/year including gst; body corp levy $4544/year
Income assessment: $480-500/week furnished
Outcome: passed in at $400,000
Agents: Judi & Michelle Yurak

The Crescent, 7 Eden Crescent, unit 201:
Features: 59m², refurbished 2 bedrooms, parking space
Outgoings: rates $1496/year including gst, parking $127/year; body corp levy $6879/year, parking $1166/year
Income assessment: $600-650/week furnished
Outcome: passed in at $540,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Uptown

Nova en Scotia, 18 Scotia Place, unit 10E:
Features: 44m², one bedroom, furniture package available, secure covered parking space
Outgoings: rates $1468/year including gst; body corp levy $4953/year
Income assessment: $580-600/week furnished
Outcome: sold for $495,000
Agents: Mitch Agnew & Ryan Bridgman

Isthmus west

Grey Lynn

Siena Terraces, 6 Burgoyne St, unit 3K:
Features: 55m², one bedroom, balcony, tandem parking
Outgoings: rates $1169/year including gst; body corp levy $3712/year
Income assessment: $580-650/week
Outcome: sold for $462,000
Agents: Liam Kyle

One on Ophir, 1 Ophir St, unit 3B:
Features: 70m², unfurnished 2 bedrooms, 2 bathrooms, deck, secure parking space
Outgoings: rates $1524/year including gst; body corp levy $4520/year
Income assessment: $600-650/week furnished
Outcome: passed in at $625,000
Agents: Ryan Bridgman & Mitch Agnew

Attribution: Auction.

Continue Reading

Shore agents sign 9 commercial leases

Bayleys agents on the North Shore have signed 9 commercial & retail leases, 4 of them in Rosedale, 2 in Northcote and one each in Silverdale, the Wairau Valley and across the harbour bridge in Three Kings.

Leases

Isthmus west

Three Kings

528 Mt Albert Rd, unit F:
Features: 125m² office
Rent: leased in April for $24,585/year net + gst, premises rental $196.68/m²
Agents: IIdiko Meixner, Steven Liu, Eddie Zhong & Ed Donald

North-east

Northcote

3 Akoranga Drive, tenancy 10:
Features: 91.56m² retail unit, no parking
Rent: leased in March for $48,280/year net + gst – premises $45,780/year, premises rental $500/m², signage rental $2500/year
Agents: Jane Sims & John Algie

Northcote Shopping Centre, 7-9 Pearn Crescent:
Features: 170m² shop, 3 parking spaces
Rent: leased in April for $115,000/year net + gst, premises rental $676.47/m² (parking free)
Agents: James Yu & Terry Kim

Rosedale

31 Apollo Drive, unit E:
Features: 95m² office, 3 parking spaces
Rent: leased in April for $26,900/year net + gst, parking $25/space/week, net premises rental $23,000/year, $242.11/m²
Agent: Ryan Dannhauser

33 Apollo Drive unit 8:
Features: 234m² office unit, 7 parking spaces
Rent: leased in April for $64,000, parking $20/space/week, net premises rental $56,720. $242.39/m²
Agent: Alex Strever

63-65 Paul Matthews Rd, unit L:
Features: 71.5m² office, shared parking space
Rent: leased in January for $16,000/year net + gst, premises rental $223.78/m²
Agents: Steven Liu, Paul Prouse & Jane Sims

Rosedale Retail Centre, 94 Rosedale Rd, unit 11:
Features: 121m² shop, shared parking
Rent: leased in April for $60,000/year net + gst, premises rental $495.87/m²
Agents: Steven Liu & Eddie Zhong

Silverdale

6 & 6A Tavern Rd:
Features: 406m² industrial unit – warehouse 390m², office 16m²
Rent: leased in April for $70,000/year net + gst, premises rental $172.41/m²
Agent: Rosemary Wakeman

Wairau Valley

32-34 Poland Rd, unit C:
Features: 524.8m² industrial unit – warehouse 267.3m², office 257.5m², 8 parking spaces
Rent: leased in March for $95,000/year net + gst, premises rental $181.02/m² (parking free)
Agents: Trevor Duffin & Matt Mimmack

Attribution: Agency release.

Continue Reading

4 apartments sell at Ray White auction

4 of the 5 apartments auctioned at Ray White City Apartments today were sold under the hammer, starting with a one-bedroom unit in the leasehold Docks on Quay St (pictured), where the bidding climbed in $1000 & $2000 raises for $28,000 before the hammer fell.

In a contrast of approaches in a market which is hard to read, auctioneer Ted Ingram said one vendor had dropped their asking price considerably to get a sale, whereas the owner of the Aura unit that was passed in had held out for a figure well above the last bid.

CBD

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1710:
Features: 41m², 2 bedrooms, balcony
Outgoings: rates $1427/year including gst; body corp levy $5213/year
Income assessment: $580-600/week
Outcome: sold for $445,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Quay Park

The Docks, 4 Dockside Lane, unit 220:
Features: leasehold, fully furnished 33m², one bedroom, parking space
Outgoings: rates $1164/year including gst; body corp levy $6216/year including $2388/year ground rent; the body corporate has begun legal proceedings against Auckland Council over building defects
Income assessment: $430/week current, appraisal $480-500/week furnished
Outcome: sold for $148,000
Agents: May Ma & Mark Li

Queen St

Portland Tower, 62 Queen St, unit 4C:
Features: 37m², one bedroom, balcony
Outgoings: rates $1126/year including gst; body corp levy $5362/year
Income assessment: $460-480/week furnished
Outcome: sold for $423,000
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Victoria Quarter

Aura, 53 Cook St, unit 1304:
Features: 49m², 2 bedrooms, balcony
Outgoings: rates $1253/year including gst; body corp levy $5370/year
Income assessment: $460/week current
Outcome: passed in at $390,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Altitude, 34 Kingston St, unit 3E:
Features: 40m², 2 bedrooms
Outgoings: rates $1050/year including gst; body corp levy $3553/year
Income assessment: $400/week
Outcome: sold for $315,000
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Isthmus west

Grey Lynn

Siena Terraces, 6 Burgoyne St, unit 1S:
Features: one bedroom, 2 parking spaces
Outcome: withdrawn from auction
Agent: Judi Yurak

Attribution: Auction.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux