Archive | Avondale

Bendon showroom sells at auction but 3 other properties fail to attract a bid

A Bendon Retail showroom in Otara sold on a 4.4% yield at Barfoot & Thompson’s commercial auction yesterday.

2 retail assets in an Avondale shopping centre building – one with some residential potential and both with a 32.5m height limit through their town centre zoning under the new unitary plan – were passed in without a bid. A Ponsonby office unit also failed to attract a bid.

Isthmus west

Avondale

1976 Great North Rd, unit 5:
Features: 140m², ground-floor retail unit with 10 years to run on lease
Rent: $49,735/year net + gst
Outcome: declared reserve $695,000, no bid
Agents: Reese Barragar & Colin Stewart

1976 Great North Rd, unit 6:
Features: 227m², 3 tenants – 2 retail + unconsented residential
Rent: $75,400/year gross
Outcome: declared reserve $895,000, no bid
Agents: Reese Barragar & Colin Stewart

Ponsonby

70 Ponsonby Rd, unit G5:
Features: office unit, 2 large signboards & secure parking space, on ground floor of the Quest apartment complex
Rent: $42,640/year net + gst on new long-term lease
Outcome: no bid, back on market at $898,000 + gst
Agents: Reese Barragar & Murray Tomlinson

South

Otara

18 Birmingham Rd:
Features: 1143m² section, 602m² building; Bendon Retail Ltd, tenant since 1999, is on 2-year lease with one more 2-year right of renewal
Rent: $53,857/year net + gst
Outcome: sold for $1.211 million at a 4.44% yield on current rent
Agents: James Marshall & Murray Tomlinson

Attribution: Auction.

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Mt Roskill & Herne Bay units sell

2 of the 5 intensive residential properties – suburban units & townhouses and cross-leases – auctioned at Barfoot & Thompson’s city office today were sold under the hammer. In 2 auction sessions, 10 of the 24 homes were sold.

Isthmus west

Avondale

34 Victor St, unit 1:
Features: cross-lease, 1/2 share in 1029m², 2-bedroom unit, garage
Outcome: passed in
Agents: Allen Wang & Meg Jiang

Herne Bay

22 Curran St, unit 3:
Features: 3-bedroom townhouse, 2 bathrooms, double internal-access garage
Outgoings: body corp levy $6700/year
Outcome: sold for $1.51 million
Agents: Carl Madsen & George Damiris

Mt Albert

75 Richardson Rd, unit 5:
Features: cross-lease, 1/7 share in 1386m², 2-bedroom unit, large basement, garage
Outcome: passed in
Agent: James Ju

84 Taylors Rd:
Features: cross-lease, 1/3 share in 1225m², 4-bedroom house
Outcome: passed in
Agents: George Fong & Laura McAuley

Mt Roskill

542 Dominion Rd Extension, unit 1:
Features: cross-lease, 1/5 share in 1267m², 2-bedroom unit, internal-access garage
Outcome: sold for $710,000
Agents: Christine & Mark Wooding

Attribution: Auctions.

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3 intensive suburban homes sold of 14 auctioned

3 intensive suburban homes – apartments, units & cross-leases – were sold under the hammer out of 14 auctioned at Barfoot & Thompson’s city office on Tuesday & Wednesday.

Of the 57 residential properties auctioned at 3 sessions, 20 were sold under the hammer.

Isthmus east

Mission Bay

30 Patteson Avenue, unit 3:
Features: 2-bedroom unit, garage
Outcome: passed in
Agent: Mark Edmonds

29 Tamaki Drive, unit 3:
Features: 227m², refurbished 3-bedroom apartment, 2 bathrooms, terrace, double garage
Outcome: no bid
Agent: Karin Cooper

Mt Wellington

40 Rutland Rd, unit 3:
Features: cross-lease, quarter share in 1067m², 2-bedroom unit, carport
Outcome: no bid
Agent: Sylvia Lu

Onehunga

69 Mays Rd:
Features: cross-lease, half share in 761m², 3 bedrooms,
Outcome: passed in at $860,000
Agents: Neil Dayal & Grant Rutherford

Parnell

25 Cheshire St, unit C5:
Features: one-bedroom apartment, secure internal-access parking space
Outcome: passed in
Agent: Cindy Yu

Remuera

109 Abbotts Way, unit 1:
Features: cross-lease, half share in 920m², 3 bedrooms
Outcome: sold for $1.086 million
Agent: Kelly Zhang

43A Richard Farrell Avenue:
Features: cross-lease, half share in 1042m², 2-storey 6-bedroom house, internal-access garage
Outcome: no bid
Agents: Trevor Edwards & Jacinta Kerrigan

Isthmus west

Avondale

2 Alanbrooke Crescent, unit 1:
Features: 2 bedrooms, secure parking space
Outcome: no bid
Agents: Bella Stefano & Sherry Shao

Blockhouse Bay

99 Boundary Rd:
Features: cross-lease, 1/7 share in 3980m², 3 bedrooms, patio, double internal-access garage
Outcome: sold for $861,000
Agents: Ross & Joss Goodall

80A Connell St:
Features: 3-bedroom unit, deck
Outgoings: body corp levy $2033/year
Outcome: no bid
Agent: Daryll Roberts

103A Taylor St:
Features: cross-lease, half share in 1320m², 3 bedrooms, garage
Outcome: no bid
Agent: Zaki Murumkar

Mt Eden

70B Marsden Avenue:
Features: cross-lease, half share in 1495m², 4 bedrooms, double garage
Outcome: no bid
Agent: Robert Thompson

20 Peary Rd, unit 4:
Features: cross-lease, 1/5 share in 1242m², 2-bedroom unit, garage
Outcome: sold for $730,000
Agent: Margaret Chen

Sandringham

307 Mt Albert Rd:
Features: cross-lease, half share in 842m², 3 bedrooms
Outcome: passed in at $850,000
Agent: Kelly Zhang

Attribution: Auctions.

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Warehouse, 2 cross-leases & a multi-unit property sell

A Mt Wellington warehouse, 2 residential cross-leases and property with 4 units on the one title were sold at Barfoot & Thompson auctions over the last 2 days.

Units in City Gardens & the Celestion were passed in, one in Tower Hill was sold prior and one in the Metropolis was withdrawn from auction.

Commercial

Isthmus east

Mt Wellington

48 Elizabeth Knox Place:
Features: 1937m² section, 811m² warehouse with about 500m² of mezzanine storage, 67m² ground-floor amenities & office, 42m² mezzanine amenities
Outcome: sold for $2.15 million
Agent: Mike Jensen

Apartments

CBD

Albert St

City Gardens, 76 Albert St, unit 23A:
Features: 59m², 2-bedroom corner apartment
Outgoings: body corp levy $4518/year; special remediation levies have been paid in full and the unit has an indicative settlement share of $133,889 to cover further costs; current ballpark estimates of remediation are about $22 million including gst
Outcome: passed in, back on the market at $449,000
Agents: Livia Li & Alan Guo

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1010:
Features: one bedroom
Outgoings: body corp levy $4072/year
Outcome: withdrawn from auction
Agent: Paul Neshausen

Learning Quarter

Celestion, 19 Anzac Avenue, unit 302:
Features: 56m², air-conditioned 2-bedroom apartment, 11m² balcony
Outgoings: body corp levy $4284/year
Outcome: passed in
Agent: Jason Buckwell

Tower Hill, 1 Emily Place, unit 10C:
Features: 2 bedrooms, parking space, storage locker
Outcome: sold prior
Agent: Aaron Cook

Isthmus east

Grafton

31 Boston Rd:
Features: 151m² 4-bedroom apartment, mezzanine lounge, private courtyard; 112m² 2-bedroom apartment, balcony; 87m² 3-room office space; 158m² warehouse, 7 offstreet parking spaces; total 530m²
Outcome: auction postponed until Thursday 9 March at 10am
Agents: Ross & Joss Goodall

Mission Bay

63 Selwyn Avenue, unit 5:
Features: cross-lease, 1/6 share in 1038m², 2-bedroom unit, carport
Outcome: sold for $696,500
Agents: Jane & David Wang

Mt Wellington

36A Harding Avenue:
Features: 1149m² section, 4 one-bedroom units on one title, 4 carports
Income assessment: $66,560/year appraisal in present condition
Outcome: on the market at $1.21 million, sold for $1.76 million
Agent: Rain Diao

Onehunga

95N Mays Rd:
Features: 80m² 2-bedroom terrace, patio, 2 parking spaces
Outgoings: body corp levy $561/year, but $66,792 in special remediation levies was raised last year, estimated to be 60% of remediation costs; the body corporate has a claim before the Weathertight Home Resolution Service
Outcome: passed in, back on market at $598,000
Agents: Su Ma & Hattie Huo

Parnell

15 Augustus Terrace, unit 2C:
Features: one bedroom, parking space, storage unit
Outcome: no bid, back on market at $495,000
Agents: Jill Jackson & Emma John

25 Cheshire St, unit A3:
Features: one-bedroom apartment, balcony, tandem parking
Outgoings: body corp levy $4296/year
Outcome: no bid
Agents: Michael & Tatyana Ataman

Isthmus west

Avondale

6 Elm St:
Features: 1012m² section, 3-bedroom villa & adjoining 12-bedroom extension, 2 bathrooms, 3 living areas, 6 offstreet parking spaces
Outcome: no bid, back on market at $1.999 million
Agent: Jason Li

Grey Lynn

34 Prime Rd:
Features: cross-lease, half share in 617m², 5-bedroom bungalow, 2 bathrooms, 2 parking spaces
Outcome: auction brought forward after $1.52 million offer was acceptable, sold under the hammer for $1.647 million
Agents: Repeka Lelaulu

South

Pakuranga

25 Pandora Place:
Features: 726m² section, 2 one-bedroom units & one 2-bedroom unit, garage, 2 carports, 3 other parking spaces
Outcome: passed in
Agent: Rain Diao

Attribution: Auction.

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Avondale sale & 5 Shore leases

Bayleys agents on the Shore have completed one warehouse unit sale in Avondale and 5 leases in Milford, Rosedale & the Wairau Valley.

The Apollo Drive retail unit at Rosedale is in a development (pictured) completed by Kea Property Development Group Ltd in December. It’s anchored by a childcare centre and has 13 retail units totalling 941m² of the 5218m² site. 2 other retail units were sold a month ago.

Sale:

Isthmus west

Avondale

16 Timothy Place, unit B:
Features: 287m² unit – 206m² warehouse, 81m² office
Rent: $46,956/year net + gst
Outcome: sold in February for $855,000 + gst at a 5.49% yield, $2979/m²
Agent: Ranjan Unka

Leases:

North-east

Milford

162 Kitchener Rd, level 1:
Features: 133.4m² office, parking space included
Rent: leased in February for #33,094.99/year net + gst, premises rental $248/m²
Agents: Paul Prouse & Ryan Dannhauser

Rosedale

56 Apollo Drive, unit 6:
Features: 95m² retail unit, shared parking
Rent: leased in February for $52,250/year net + gst, premises rental $550/m²
Agents: Laurie Burt & Eddie Zhong

14 John Glenn Avenue, unit B:
Features: 199m² retail unit, shared parking
Rent: leased in February for $85,000/year net + gst, premises rental $420/m²
Agent: James Yu

36 William Pickering Drive, unit 2:
Features: 103m² office, 5 parking spaces
Rent: leased in February for $27,860/year net + gst, parking $20/space/week, net excluding parking $22,660, premises rental $220/m²
Agent: Ryan Dannhauser

Wairau Valley

68 Hillside Rd, unit C:
Features: 344.68m² industrial unit – warehouse 266.43m², mezzanine 78.25m², 5 parking spaces included
Rent: leased in February for $35,000/year net + gst, premises rental $101.54/m²
Agent: Trevor Duffin

Earlier story:
5 February 2017: 2 new Apollo Drive units among January sales

Attribution: Agency release.

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2 Rosebank Rd properties among sales

2 Rosebank Rd properties have been bought by the one investor on yields of 6.3% & just under 7%.

They’re among 5 sales & one lease in the latest transactions in West Auckland by Bayleys agents.

Sales

Isthmus west

Avondale

527A Rosebank Rd:
Features: 1428m2 2-level office building in 3 strata titles, 48 parking spaces, in the Harbourside Business Park; 4 tenants on 3- to 5-year lease terms to 2017 & 2018
Rent: $278,000/year net + gst
Outcome: sold for $4 million at a 6.95% yield
Agent: Alan Haydock & Damien Bullick 

527B Rosebank Rd:
Features: 444m2 top floor office in 2 unit titles; NZ head office of Cadpro Systems, in occupation since 2003 with current lease running until late until November 2021, 2 3-year rights of renewal
Rent: $110,450/year net + gst
Outcome: sold for $1.75 million at 6.31% yield to buyer of No 527A
Agent: Alan Haydock & Damien Bullick

North-west

Glen Eden

83 West Coast Rd, unit A:
Features: 110m2 retail unit leased to Dominos Pizza NZ for 5 years from October 2014, one 5-year right of renewal
Rent: $39,543/year net + gst
Outcome: sold for $580,000 at a 6.8% yield
Agent: Owen Ding

Henderson

16 Catherine St:
Features: 781m2  site with town centre zoning, 780m2 2-level office building in need of renovation, 12 parking spaces
Outcome: sold vacant for $1.86 million
Agent: Grant Miller

21 Catherine St:
Features: 450m2 retail unit occupied by an Aussie Butcher outlet on new 6-year lease, 2 4-year rights of renewal
Outcome: sold for $2 million at a 5.5% yield
Agents: Ed Donald & Tony Chaudhary

Lease

Isthmus west

Avondale

15 Fremlin Place:
Features: 569m2 of warehouse, 275m2 office on 1148m2 site, leased for 6 years from 16 January, one 4-year right of renewal & 2-yearly rent reviews to market
Rent: $110,000/year net + gst
Agents: Mike Adams & Laurie Bell

Attribution: Agency release.

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3 homes sell, 3 get no bid

7 properties were offered yesterday at Barfoot & Thompson’s first residential auction of the year, 4 of them cross-leased and one in a body corporate. 3 sold, 3 attracted no bid and one was passed in after bidding. The agency has 2 apartments on offer at its first regular apartments auction this morning. Yesterday’s results:

Isthmus east

Ellerslie

102 Michaels Avenue, unit 1:
Features: cross-lease, 1/5 share in 1308m², 2-bedroom unit, offstreet parking
Outcome: sold for $700,000
Agents: Leonie Stabler & Di Lynds

Epsom

123 Owens Rd, unit 1:
Features: cross-lease, 1/24 share in 5721m², 999-year lease on 2-bedroom unit, courtyard, carport
Outcome: passed in at $690,000
Agents: Doug Lum & Sue Saywell

Isthmus west

Avondale

28 Wingate St:
Features: 3-bedroom bungalow on 610m², deck, carport
Outcome: sold for $807,000
Agents: Travers Smyth & Ryan Harding

Blockhouse Bay

152A Taylor St:
Features: cross-lease, 1/3 share in 1087m², 3-bedroom house, deck, courtyard, internal garage + double garage
Outcome: no bid
Agents: Ricky Yap & Alice Chen

Mt Eden

6 Penrhyn Rd, unit 2:
Features: cross-lease, 1/6 share in 2161m², 3 bedrooms, 2 bathrooms, deck, pool, internal-access garage
Outcome: sold for $1.32 million
Agents: Frank Excell & Keteisha Elliott

Mt Roskill

9 Anita Avenue:
Features: 4-bedroom house on 789m², double internal-access garage
Outcome: no bid
Agents: Repeka Lelaulu

Three Kings

Providence on Eden, 21 Hunters Park Drive, unit 57:
Features: m², 3-bedroom house, 2 bathrooms, courtyards, double internal-access garage
Outgoings: body corp levy $6595/year
Outcome: no bid, back on market at $745,000
Agents: Frank Excell & Keteisha Elliott

Attribution: Auction.

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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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Auction market in doldrums

Judging by the biggest auction series by Auckland’s biggest residential agency, Barfoot & Thompson – the mid-week auctions at its Shortland St rooms – this aspect of the housing market is well & truly in the doldrums.

In the last 2 days, Barfoots had 63 residential properties listed for auction at its city office and sold 25 of them, including 6 sold before their scheduled auction date. That’s a 40% clearance rate, or 33% excluding the sold priors.

At the Thursday morning session for apartments & commercial properties, one of the 5 apartments and one of the 2 commercial properties were sold.

One question outsiders can’t answer is how much vendors are prepared to come down to get a sale in the auctionroom. My understanding is that most vendors have discounted below their set reserve where there’s been evidence of buyer interest, but on many properties buyers haven’t made any offer, even if only to test the vendor’s resolve.

Compared to daily auction lists of up to 80 properties a couple of months ago and in the second half of last year, recent auction lists have been more than halved and Barfoots has cut the simultaneous auction in an adjoining room from the schedule.

It’s not just the auction list that’s been cut. Bidder numbers are also well down, and the propensity of Chinese investors to relentlessly bid higher appears over. They’ve joined locals in sitting on their hands, either from concern about the direction of the market or because government, Reserve Bank & commercial bank rule changes have forced them out of the market.

Outside the dedicated Thursday morning apartments auction, Barfoots auctioned 21 intensive residential properties over 2 days – a mix of apartments, suburban units & townhouses and cross-leased homes. 10 were sold under the hammer and 4 attracted no bid.

The auction outcomes reported below are from those 2 Wednesday sessions and the Thursday afternoon auction. The Thursday morning apartments & commercial auction results are in a separate story (link below).

Image above: The garden apartment at Remuera Mews (outlined).

CBD

Uptown

Westmount, 23 Upper Queen St, unit 1C:
Features: 2-bedroom apartment, balcony, secure parking space, lockup storage
Outgoings: body corp levy $5853/year
Outcome: no bid
Agent: Vincent Fong

Isthmus east

Ellerslie

1 Malabar Drive, unit 1:
Features: cross-lease, half share in 900m², 3 bedrooms, deck, internal-access garage
Outcome: sold at pre-auction offer of $1.4 million
Agent: Wendy Sadd

Meadowbank

54A Rutherford Terrace:
Features: 4 bedrooms, deck, offstreet parking
Outgoings:
body corp levy $1072/year (insurance premium only)
Outcome:
sold for $1.23 million
Agents:
Paula Kane & Silvia Poletti

130 St Johns Rd, unit 3:
Features: cross-lease, 1/3 share in 845m², 2-bedroom unit, garage
Outcome: sold for $905,000
Agent: Andy Dye

Parnell

3 Staffa St, unit 3:
Features: cross-lease, 1/3 share in 1026m², 3 bedrooms, double garage
Outcome: sold for $1.6 million
Agents: Bobby McMillan & Silvia Poletti

Remuera

Remuera Mews, 31 Green Lane East, unit 11 (pictured):
Features: 124m², 2-bedroom apartment, 2 bathrooms, gardens, garage
Outgoings: body corp levy $6400/year
Outcome: sold for $1.05 million
Agent: Susan Palmer

Royal Oak

38L Korma Rd:
Features: 2-level 2-bedroom unit, patio, carport
Outcome: passed in at $580,000
Agents: Rod Philson & Manas Nanda

St Heliers

42 Tarawera Terrace, unit 4:
Features: 4 bedrooms, office, carport
Outgoings: body corp levy $2898/year
Outcome: passed in at $1.02 million
Agent: Karin Cooper

Isthmus west

Avondale

5A Holly St:
Features: cross-lease, quarter share in 2023m², 3 bedrooms, carport
Outcome: sold for $855,000
Agent: Felicity Scott

Blockhouse Bay

145D Taylor St:
Features: 288m² fee simple + cross-lease, 1/3 share in 736m², 4 bedrooms, balconies, double garage
Outcome: passed in at $1.085 million
Agent: Kevin He

Hillsborough

61 & 63 Hillsborough Rd:
Features: 2 houses on 1618m² section
Income assessment: one rented at $650/week, the other at $540/week
Outcome: no bid
Agents: Mal MacElvanna & May To

Mt Eden

57 Woodside Rd:
Features: cross-lease, half share in 1006m², 3 bedrooms, deck, double garage
Outcome: passed in at $1.8 million
Agents: Frank Excell & Ketiesha Elliott

Mt Roskill

54 & 58 Albrecht Avenue:
Features: 2255m², 4 houses, 14 bedrooms
Outcome: no bid
Agents: Paul Hodgman & Helen Lam

6 Gerrard St:
Features: cross-lease, half share in 963m², 3 bedrooms, carport
Outcome: sold for $960,000
Agent: Margaret Chen

98 Melrose Rd, unit 3:
Features: cross-lease, quarter share in 1378m², 2 bedrooms
Outcome: sold for $650,000
Agents: Stephen Shin & Richard Han

St Marys Bay

117 Shelly Beach Rd, unit 5:
Features: 4 bedrooms, 2 parking spaces
Outgoings: body corp levy $7592/year
Outcome: passed in at $1.5 million
Agents: Carl & Rosanne Madsen

Western Springs

25 Don Croot St, unit 5:
Features: 2-bedroom unit, carport
Outgoings: body corp levy $2860/year
Outcome: passed in
Agent: Susan Murdock

North-west

Henderson

50 Te Kanawa Crescent, unit 3:
Features: cross-lease, quarter share in 1322m², 2-bedroom unit, carport
Outcome: no bid
Agent: Gavin Han

New Lynn

24 Arawa St, unit 2:
Features: cross-lease, 1/7 share in 1482m², 2-bedroom unit, offstreet parking
Outcome: no bid
Agents: Aken Yuan & Harry Wang

12 Caspian Close:
Features: cottage on 267m² section, 3 bedrooms,
Outcome: sold at pre-auction offer of $730,000
Agents: Kevin Miao & Di Weng

48 & 50 Delta Avenue:
Features: 1522m², 2 bungalows on 2 titles, each of 3 bedrooms, garage
Outcome: sold for $3.045 million
Agent: Holly He

Related story today:
Silo apartment & St Johns industrial unit sell

Attribution: Auctions.

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9 suburban units, cross-leases & development sites sell

5 units & a cross-leased bungalow were sold under the hammer and another 3 post-auction from the 16 intensive residential properties auctioned at Barfoot & Thompson’s city office last Wednesday & Thursday (the apartments session on Thursday morning is in a separate story).

They included 4 cross-leased units on Brixton Rd, Mt Eden (pictured), which were all sold separately. One of the properties sold post-auction was a development site in Pt England with 2 homes on separate titles.

Isthmus east

Greenlane

27 Puriri Avenue, unit 4:
Features: cross-lease, quarter share in 1027m², 2 bedrooms, carport
Outcome: passed in, sold post-auction
Agents: Vern Hines & Sara Knight

Onehunga

131 Grey St, unit 3:
Features: 2-bedroom unit, internal-access garage
Outcome: sold for $803,000
Agent: Kevin Liu

One Tree Hill

119 Paihia Rd:
Features: cross-lease, half share in 781m², 3 bedrooms, parking
Outcome: passed in
Agent: Kelly Zhang

Otahuhu

15 Monterey Avenue, unit 1:
Features: 67m², 2-bedroom unit, tandem parking
Income assessment: $440/week current, fixed until January
Outcome: no bid
Agent: Neno Radinovich

15 Monterey Avenue, unit 2:
Features: 67m² 2-bedroom unit with 25m² sleepout, deck, tandem parking
Income assessment: was rented for $650/week
Outcome: passed in
Agent: Neno Radinovich

Point England

59 & 61 Torino St:
Features: 2 3-bedroom homes on separate titles, 1813m² section
Outcome: passed in, sold post-auction
Agent: Sam Bowen

Isthmus west

Avondale

8 Plane St, unit 2:
Features: cross-lease, 1/17 share in 6762m², 4 bedrooms, 2 bathrooms, deck, double internal-access garage
Outcome: passed in, back on market at $889,000
Agent: Kevin He

Kingsland

65H Third Avenue:
Features: cross-lease, quarter share in 1131m², 3 bedrooms, deck, carport
Outcome: no bid, back on market at $979,000
Agents: Ross Goodall & Nanette Graham

Mt Albert

1 Beagle Avenue:
Features: cross-lease, half share in 809m², 3-bedroom bungalow, offstreet parking
Outcome: sold post-auction
Agents: Christine Wooding & Joanne Yu

Mt Eden

32 Brixton Rd (pictured):
4 cross-leased units offered separately – all having a 1/5 share in 809m², one bedroom, renovated, with fenced garden & parking space:
Unit 5: sold for $547,500
Unit 4: sold for $540,000
Unit 3: sold for $543,500
Unit 2: sold for $544,000
Agent: Robyn Preece

North-west

New Lynn

14 Ambrico Place, unit 23:
Features: 3-bedroom townhouse, deck, internal-access garage
Outgoings: body corp levy $2276/year
Outcome: passed in
Agents: Aden Xu & Annie Hao

3169 Great North Rd:
Features: cross-lease, half share in 1012m², 3-bedroom bungalow
Outcome: sold for $805,000
Agent: Anna Lechtchinski

South

Pakuranga

304 Pakuranga Rd, unit 1:
Features: cross-lease, half share in 1022m², 3 bedrooms, deck, rumpus, garage
Outcome: no bid, back on market at $699,000
Agents: Neil Dayal & Tanzi Rose

Attribution: Auctions.

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