Archive | Blockhouse Bay

Dozen sales for JLL

JLL agents have sold 11 commercial properties around Auckland and one in Palmerston North.

CBD

Learning Quarter

44E Anzac Avenue:
Features: 168m² office floor with apartment conversion potential, 2 parking spaces
Rent: $35,280/year net
Outcome: sold for $580,000 at a 6% yield
Agent: Jason Armstrong

Isthmus east

Epsom

Knights Inn, 234 Green Lane West:
Features: 26-unit motel
Outcome: sold for $9.5 million
Buyer’s agents: Jason Armstrong & Jarred Hill

Isthmus west

Blockhouse Bay

552-554 Blockhouse Bay Rd:
Features: 2 shops of 50m² & 53m², leased to a hair salon & a Thai food takeaway
Rent: $44,240/year net + gst
Outcome: sold for $911,000 at a 4.85% yield
Agent: Kevin Reardon

Grey Lynn

27 Nixon St:
Features: 455m² 2-level building, residential over ground-floor warehouse
Outcome: sold vacant for $2.2 million
Agents: Jason Armstrong & Alex Wefers

30a Pollen St:
Features: 377m² industrial unit – 306m² ground-floor warehouse, 70m² office & amenities, 4 parking spaces
Rent: $68,000/year net + gst
Outcome: sold for $1.365 million at a 4.98% yield
Agents: Alex Wefers & Jarred Hill

60A Surrey Crescent:
Features: 147m² industrial unit, 4 parking spaces
Rent: $37,000/year net + gst
Outcome: sold for $728,000 at a 5.08% yield
Agents: Alex Wefers & Jarred Hill

Mt Albert

43a Linwood Avenue, unit 7:
Features: 260m² vacant warehouse unit, 6 parking spaces
Outcome: sold for $750,000 at a 5.2% yield on market rent
Agent: Alex Wefers

Mt Eden

45A Normanby Rd:
Features: 582m² industrial unit – 385m² warehouse, 197m² office & amenities, 10 parking spaces
Outcome: sold vacant for $2.058 million
Agent: Ben Jamieson

23 Edwin St, unit G02:
Features: 105m² office unit, 4 parking spaces, new 3-year lease
Rent: $50,000/year net + gst
Outcome: sold for $1.05 million at a 4.76% yield
Agent: Ben Jamieson

North-east

Mairangi Bay

17-19 Apollo Drive:
Features: vacant 13,008m² zoned general business
Outcome: sold on behalf of AUT, price confidential
Agents: Jason Armstrong & Dave Mayhew

41 Centorian Drive:
Features: 20,172m² of subdivisible residential land zoned mixed suburban, longtime home of medical publisher Adis International Ltd (more recently Springer Science+Business Media)
Outcome: sold, price confidential
Agents: Jason Armstrong & Dave Mayhew

South of the Bombays

Manawatu

Palmerston North

10-15 The Square:
Features: 1830m² of office & retail space
Outcome: sold, price confidential
Agent: Jason Armstrong

Attribution: Agency release.

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2 apartments sell in mixed intensive offering

In a mixed offering of 5 intensive residential properties at Bayleys’ auction yesterday – 3 cbd & suburban apartments (one leasehold), a suburban townhouse and a villa on a cross-lease – 2 of the apartments were sold under the hammer.

CBD

Uptown

Q Central, 15 City Rd, unit 10C:
Features: leasehold, fully furnished one-bedroom apartment, leased to Housing NZ until December 2018
Outcome: sold for $85,000
Agents: Marcus Fava

Isthmus west

Blockhouse Bay

77B Taylor St:
Features: 4-bedroom townhouse, 3 bathrooms, balcony, double garage
Outcome: passed in at $1.04 million
Agent: Summer Sun

Freemans Bay

15 Collingwood St:
Features: cross-lease, half share in 638m², 4-bedroom house, 2 bathrooms, 2 parking spaces
Outcome: passed in at $2.04 million
Agents: Suzie Paine

Grey Lynn

167A Great North Rd:
Features: 2-level apartment, 2 bedrooms, 2 outdoor spaces, 2 living rooms, parking space
Outgoings: rates $2490/year including gst; body corp levy $4198/year
Outcome: sold for $850,000
Agent: Edward Pack

Mt Eden

Chambers & Station, 64 Valley Rd, unit 1:
Features: 113m² internal, 53m² outdoor, 2-bedroom apartment, 2 bathrooms, 2 living areas, 2 parking spaces
Outgoings: body corp levy $6280/year
Outcome: passed in at $1.6 million
Agents: Julie Prince, Ellie Prince & Diane Jackson

Attribution: Auction.

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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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12 sell at Bayleys’ Total Property auction

Bayleys sold 11 properties under the hammer yesterday of the 15 offered in its first Total Property commercial portfolio for the year. Another property was sold last Friday in an auction brought forward.

Yields were variable – down at 3.1% on one property which might reflect development potential more than the present return, 3.6% on a Plumbing World tenancy in New Lynn, 4.4% on a Manukau butcher’s shop, 5.25% on a Party Hire warehouse in East Tamki, 5.4% & 4.9% on 2 retail outlets in the new Dylan apartment building on Great North Rd (pictured above), 6.1% on a Rosedale gym. And, out of town, 7.6% on a long-term NZ Post lease in Whanganui.

CBD

Queen St

Mid-City, 239 Queen St, unit 1A:
Features: 39m² fast-food outlet fronting Queen St
Rent: $150,657.30/year net + gst from renewed 12-year lease to Avachi Fried Chicken
Outcome: auction postponed to Total Property 2, Wednesday 12 April
Agents: Quinn Ngo & James Chan

Uptown

117 Vincent St:
Features: 364m² site, total building area 736m² on 3 levels, each of 245.6m²; 12 parking spaces on ground floor, 2 office floors above
Rent: vacant
Outcome: passed in at $3.5 million
Agents: Nigel McNeill & Ben Bayley

Isthmus east

Onehunga

137 Onehunga Mall:
Features: 185m² site, 213m² 2-storey building
Outcome: sold for $900,000, including the bar & gaming business in it
Agents: Oscar Kuang & James Chan

Parnell

465-467 Parnell Rd:
Features: 612m² site zoned terrace housing & apartment building, 422m² villa, onsite parking, opportunity to own/occupy after April 2018
Rent: fully lease returning $119,113/year + gst
Outcome: sold for $3.525 million
Agents: Cameron Melhuish & Jenny Kek

Isthmus west

Blockhouse Bay

The Blockhouse Bay property sold on 3.1% yield at auction brought forward.

575 Blockhouse Bay Rd:
Features: 610m² corner site zoned business – local centre, dual-access rear parking
Rent: $55,687.93/year net from convenience store & attached accommodation and 2-level gym
Outcome: sold at pre-auction; declared reserve was $1.4 million, sold for $1.8 million at a 3.1% yield
Agents: Alan Haydock & Damien Bullick

Grey Lynn

The Dylan, 367-375 Great North Rd, principal unit 1:
Features: 128m² freehold retail unit on ground floor of new apartment development, 2 parking spaces, occupied by Love Bites Kitchen
Rent: $68,000/year net + gst from 6-year lease started November 2016, 2 4-year rights of renewal, 3%/year increases, to market on renewal
Outcome: sold for $1.27 million at a 5.4% yield
Agents: Damien Bullick & Alan Haydock

The Dylan, 367-375 Great North Rd, principal unit 2:
Features: 49m² freehold retail unit on ground floor of new apartment development, no parking, occupied by Arch Hill Laundromat
Rent: $30,000/year net + gst on 8-year lease from October 2016
Outcome: sold for $611,000 at a 4.9% yield
Agents: Damien Bullick & Alan Haydock

Newton

10 South St:
Features: 357m² site, 318m² standalone building,
Rent: $126,000/year net + gst, new 10-year lease to main tenant + income from billboards & 2-bedroom flat
Outcome: withdrawn from auction
Agents: Oscar Kuang & Nicolas Ching

North-east

Rosedale

32 Constellation Drive, unit 5:
Features: 385m² unit in retail centre, fully leased to Snap Fitness, 30 parking spaces in common area
Rent: $157,497/year net + gst, 8-year lease from 2013 + 2 8-year terms
Outcome: sold for $2.585 million at a 6.1% yield
Agents: Ranjan Unka & Anna Radkevich

11-13A Paul Matthews Rd:
Features: 517.7m² roadfront industrial unit, clearspan high stud warehouse, 8 parking spaces
Outcome: sold vacant for $1.55 million
Agent: Matt Mimmack

Wairau Valley

7 Porana Rd, unit A:
Features: 109.7m² vacant industrial unit, 2 parking spaces, multiple rollerdoor access
Outcome: sold for $476,000
Agent: Matt Mimmack

North-west

Henderson

Lincoln Centre, 111 Lincoln Rd, unit B:
Features: 1113m² building, occupied by Accident Compensation Corp since 2000, onsite parking
Rent: $287,000/year gross + gst, 3-year lease from March 2017 + 3-year right of renewal
Outcome: no bid
Agents: Nicolas Ching & James Chan

New Lynn

48 Portage Rd:
Features: 1012m² site + 1/10 share in 585m², 4-year lease to Plumbing World Ltd from October 2016 with rights of renewal
Rent: $62,250/year + gst, 4-year lease from 1 October 2016 with right of renewal
Outcome: sold for $1.73 million at a 3.6% yield
Agents: Mike Adams & Laurie Bell

South

Clover Park

112 Dawson Rd, unit O (shop 14) in Chapel Downs shopping centre:
Features: 230m² butchery, 2 parking spaces
Rent: $62,000/year net + gst + outgoings on 4-year lease from April 2016, rights of renewal to 2028
Outcome: sold for $1.42 million at a 4.4% yield
Agents: Dave Stanley & Geoff Wyatt

East Tamaki

179C Harris Rd, corner Ti Rakau Drive:
Features: 270m² strata title, showroom, warehouse & office occupied by Party Hire, 6 parking spaces
Rent: $46,000/year net + gst + outgoings, established tenant with renewed 4-year lease term
Outcome: sold for $875,000 at a 5.25% yield
Agents: Tony Chaudhary & Janak Darji

Manukau Central

5C Jack Conway Avenue:
Features: 471m² corner unit title – 230m² ground floor, 241m² first floor, onsite parking
Rent: $130,000/year net + gst + outgoings from 2 tenants on long-term leases
Outcome: no bid
Agents: Rod Grieve & Maxene Bates

South of the Bombays

Napier

88-94 Dickens St:
Features: 911m² site, 3 ground-floor tenants, option to develop upstairs
Rent: $78,855/year net + gst
Outcome: no bid
Agents: Paul Dixon & Sam MacDonald

Whanganui

115 Victoria Avenue:
Features: 916m² site, 403m² floor area, 10 parking spaces
Rent: $206,268 from long lease to NZ Post Ltd
Outcome: sold for $2.73 million at a 7.6% yield
Agents: Cameron Melhuish & Ed Donald

Attribution: Auction.

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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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11 intensive residential properties sell at Barfoot auctions

31 intensive properties were auctioned at Barfoot & Thompson’s city office over Tuesday-Wednesday, excluding the Thursday commercial & apartments-only session (see separate report), and 11 of them have been sold.

7 were sold under the hammer, one prior and 3 post-auction.

The 31 properties on offer included one cbd apartment, 20 on cross-leases and 6 offering development prospects.

The results from those sessions are listed below in their geographic areas and then by suburb.

At the Thursday commercial & apartments auction, 2 of the 4 apartments on offer were sold under the hammer, another listed for that auction session was sold earlier, and a commercial site with residential development consent was passed in but expected to sell under the multi-offer process today.

The agency returned to simultaneous auctions in 2 rooms for the Wednesday sessions, a rarity as the market has slowed, and put a total 96 properties up for sale, including standalone suburban homes (excluding the Thursday apartments session), and sold 34 under the hammer & 5 post-auction. Another 9 were sold prior. 30 didn’t attract a bid, but some of those were sold shortly after the auction.

The constant question is: “What’s happening to the market?” There isn’t one answer. Apartments differ from suburban properties, cross-leasing doesn’t seem to worry too many, vendors are learning to take less of the windfall that was available until a few months ago and snipping their reserves under pressure.

CBD

Uptown

City Lights, 16 Liverpool St, unit 2D:
Features: 90m², 2-bedroom apartment, conservatory, balcony, parking space
Outgoings: body corp levy $5335/year
Outcome: withdrawn from auction, back on market at $660,000
Agents: Michele Ballinger & Jean-Marc D’Anglejan

Isthmus east

Ellerslie

172A Main Highway, unit 2:
Features: cross-lease, 1/4 share in 1158m², 2-bedroom unit, courtyard, carport
Outcome: sold for $680,000
Agents: Anna Stephens-Brown & Susan Palmer

25 Wilkinson Rd, unit 1:
Features: cross-lease, 2-bedroom unit, carport
Outcome: passed in
Agents: Michael & Tatyana Ataman

Epsom

59 Empire Rd:
Features: cross-lease, half share in 1244m², 4 bedrooms & one-bedroom granny flat
Outcome: no bid
Agents: Diana Buczkowski & Peter West

155 Gillies Avenue, unit 2:
Features: cross-lease, 1/6 share in 1055m², 2 bedrooms, balcony
Outcome: sold for $903,000
Agents: George Fong & Laura McAuley

511A Manukau Rd:
Features: freestanding 3-level 4-bedroom townhouse, 3 bathrooms, double internal-access garage
Outcome: passed in
Agents: Nicole Hou & Joy Chen

24 Wilding Avenue:
Features: 1075m², 3 bedrooms, double garage & workshop, zoned mixed housing urban under unitary plan
Outcome: sold prior for $3.98 million
Agents: Frances Li & Ian Thornhill

Meadowbank

59 & 63 Ripon Crescent:
Features: 2 large houses on total 2542m² (1416m² & 1126m²), zoned residential 6a (375m²/site) but zoned mixed housing suburban under the proposed unitary plan, promoted for development
Outcome: no bid for the 2 properties as a package, or singly
Agents: Brett Innes & Amy Wilson-Chan

Mt Wellington

63A Commisariat Rd:
Features: cross-lease, half share in 862m², 3 bedrooms, carport
Outcome: no bid
Agents: Lars Kuo & Lillian Wen

192 Penrose Rd:
Features: 1396m² site zoned mixed housing suburban under unitary plan, 2 houses
Outcome: no bid
Agent: Joan Xu

Panmure

10 Dunn Rd:
Features: 1038m² corner site, 2 houses, resource consent granted for 6 terrace houses, second option under unitary plan terrace housing & apartment buildings zoning allows for buildings overs 3 storeys, subject to council approval
Outcome: no bid
Agents: Neno & Silvana Radinovich

44 Pilkington Rd, unit 9:
Features: cross-lease, 1/10 share in 2067m², 2-bedroom unit, basement storage
Outcome: passed in
Agents: Lillian Bai & Craig Smith

Remuera

68 Remuera Rd, unit 11:
Features: 3-bedroom terrace, 2 bathrooms, garage, reclad in 2011 & new code compliance certificate issued
Outgoings: body corp levy $4052/year
Outcome: no bid
Agents: Frances Li & Ian Thornhill

26 Rotomahana Terrace:
Features: cross-lease, 1/3 share in 1014m², 3 bedrooms, patio, deck, garage
Outcome: passed in, back on market at $1.35 million
Agents Kelly Zhang

Royal Oak

52 Turama Rd, unit 2:
Features: cross-lease, 1/3 share in 1396m², 3 bedrooms, double garage
Outcome: sold for $1.45 million
Agents: Rod Philson & Manas Nanda

St Heliers

22B Sylvia Rd:
Features: 3-bedroom townhouse, 2 bathrooms, study, double internal-access garage
Outcome: sold for $1.31 million
Agents: Teresa Weiss

Isthmus west

Blockhouse Bay

21B Exminister St:
Features: cross-lease, half share in 680m², 2-bedroom unit, garage & workshop
Outcome: passed in, sold post-auction
Agents: William & Simon MacLean

Mt Albert

58 Taylors Rd, unit 3:
Features: cross-lease, 1/5 share in 1598m², 2-bedroom unit, carport
Outcome: passed in
Agent: Mervin Lutchman

Mt Eden

4A Dexter Avenue, unit 2:
Features: cross-lease, quarter share in 804m², 2-bedroom unit, garage
Outcome: passed in, sold post-auction
Agents: James Yu & Angel Li

28 Watling St, unit 2:
Features: cross-lease, half share in 809m², 3-bedroom townhouse
Outcome: sold for $1.2 million
Agents: Leonie Stabler & Di Lynds

Sandringham

7 Kingsway Avenue, unit 8:
Features: cross-lease, 1/8 share in 804m², 3 bedrooms, study, balcony, double carport
Outcome: passed in
Agents: Allen & Hannah Wang

4 Patterson St, unit 3:
Features: cross-lease, 1/5 share in 1214m², 2-bedroom unit, carport
Outcome: passed in, sold post-auction
Agents: Gavin Han & Maggie Chen

Waterview

9B Alvertson Rd:
Features: cross-lease, 1/4 share in 1010m², 2 bedrooms, carport
Outcome: passed in
Agent: Kris Jamieson

51A Fir St:
Features: cross-lease, half share in 1027m², 3 bedrooms, carport, storage shed, offstreet parking
Outcome: sold for $766,000
Agents: Jim Murray

Westmere

7 Kotare Avenue, unit 2:
Features: cross-lease, 1/3 share in 1169m², 2-bedroom waterfront apartment, deck, carport
Outcome: sold for $1.71 million
Agent: André Boddé

North-east

Schnapper Rock

12 Schnapper Rock Rd, unit 3:
Features: 166m², 3 bedrooms, 2 bathrooms, balcony, internal-access garage, carport
Outgoings: body corp levy $673/year
Income assessment: $650/week current
Outcome: passed in, back on market at $799,000
Agents: Zheng Yang

North-west

Henderson

3 & 5 Waitaki St:
Features: 1582m², 2 4-bedroom houses, concept plans drawn up for subdivision under unitary plan mixed housing urban zoning
Outcome: passed in
Agents: Ann Lepper & James Gai

Kelston

27A St Leonards Rd:
Features: cross-lease, half share in 1052m², 4 bedrooms, deck, double garage
Outcome: no bid, back on market at $839,000
Agents: Sylvia Lu

New Lynn

2A Mason St:
Features: cross-lease, 1/3 share in 1639m², 3 bedrooms, 3 bathrooms, garage
Outcome: no bid
Agent: Anna Copeland

Ranui

323 & 325 Swanson Rd:
Features: 1214m² (2 607m² sections), 2 houses, concept plans drawn up for 19 lowrise apartments with 70m² retail on ground floor under mixed housing urban zoning
Outcome: passed in, back on market at $2.18 million
Agents: Ren Tang & Jacky Xu

South

Manurewa

39 Rimu Rd:
Features: cross-lease, half share in 809m², 2 bedrooms, verandah, carport, storage
Outcome: passed in
Agents: Stacey Tonner

Earlier story today:
Updated: Narrow development site passed in, 2 apartments sold

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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11 intensive properties sell at Barfoot city auctions

11 of the 20 intensive residential properties Barfoot & Thompson auctioned at its city office this week were sold under the hammer.

They included 4 apartments, 4 townhouses, 11 homes on cross-leases and one property with development consent for 8 homes.

The 20 intensive properties were among 48 residential properties auctioned. Another 9 (including some intensive) were sold before this week’s auctions. All up, the city auction room sold 35 of 57 properties on its auction lists.

CBD

Albert St

Barclay Suites, 74 Albert St, unit 2004:
Features: 45m², one-bedroom corner apartment, balcony
Outgoings: body corp levy $4761/year
Income assessment: $24,518/year including gst guaranteed income from hotel lease
Outcome: passed in at $250,000, back on market at $395,000
Agents: Wendy Feng & Jack Li

Learning Quarter

Waldorf Bankside, 8 Bankside St, unit 6F:
Features: 30m² fully furnished studio
Outgoings: body corp levy $4469/year
Outcome: sold for $300,000
Agents: Aaron Cook & Betty Shao

Isthmus east

Meadowbank

48 Gowing Drive, unit 3:
Features: cross-lease, quarter share in 675m², 2-bedroom unit, deck, carport
Outcome: sold for $570,000
Agent: Brett Innes

Mt Wellington

8 Longford St, unit 1:
Features: 3-bedroom townhouse, deck, garden, garage
Outgoings: rates $2185/year including gst; body corp levy $1020/year
Outcome: passed in
Agents: Carolyn & Peter Brooks

Orakei

142B Paritai Drive:
Features: 3 bedrooms, 2 bathrooms, decks, double garage & 2 offstreet parking spaces
Outgoings: body corp levy $2740/year
Outcome: no bid
Agent: Stephen Rendell

Parnell

Parnell Green, 27 Birdwood Crescent, unit 22:
Features: 2-bedroom townhouse, study, 2 parking spaces
Outgoings: body corp levy $3436/year
Outcome: sold for $760,000
Agents: Ian Griffiths & Cheryl Burgess

Remuera

38 Arney Crescent, unit 3:
Features: 2-bedroom townhouse, 2 bathrooms, study, carport
Outgoings: body corp levy $1841/year
Outcome: sold for $1.925 million
Agent: Alex Baker

26A Cotter Avenue:
Features: cross-lease, quarter share in 1743m², 3 bedrooms, study, conservatory, garden, double carport & 2 parking spaces
Outcome: no bid
Agent: Philip Oldham

12A Monteith Crescent:
Features: cross-lease, half share in 1327m², 3 bedrooms, garage
Outcome: passed in at $1.125 million
Agent: Cici Wang

St Heliers

40 Edmund St:
Features: cross-lease, half share in 847m², 3-bedroom bungalow, garage
Outcome: sold for $1.775 million
Agent: Lynette Boyd

St Johns

6 Lush Avenue, unit 4:
Features: cross-lease, 1/6 share in 1840m², 2 bedrooms, deck, garage
Outcome: no bid
Agents: Trevor Edwards & Jacinta Kerrigan

Isthmus west

Blockhouse Bay

74 & 78 Taylor St:
Features: 3126m², 2 houses on separate titles; current owner has lodged resource consent application for 8 houses, with concept plans
Outcome: passed in at $4.9 million
Agents: Mohit Takyar & George Fong

Freemans Bay

Beaumont, 220 Victoria St West:
Features: 2-bedroom apartment, 2 bathrooms, deck, 2 parking spaces
Outgoings: body corp levy $9279/year
Outcome: sold for $1.029 million
Agents: Repeka Lelaulu

Mt Eden

62 Woodside Crescent, unit 1:
Features: cross-lease, 1/5 share in 1019m², 3-bedroom unit, deck, carport
Outcome: sold for $874,000
Agents: Derek Helliwell & Cathy Giles

Mt Roskill

45 Winstone Rd:
Features: cross-lease, half share in 809m², 131m² 3-bedroom bungalow, 2 bathrooms, carport
Outcome: sold for $985,000
Agent: Lucy Shelton

Sandringham

28 Coyle St, unit 2:
Features: cross-lease, 1/3 share in 693m², 2-bedroom unit, garage
Outcome: sold for $675,000
Agents: David Dowse & Susie Calderwood

Westmere

19G Garnet Rd:
Features: 2-bedroom apartment, 2 balconies, double internal-access garage
Outgoings: body corp levy $2997/year
Outcome: sold for $885,000
Agents: Derek Helliwell & Cathy Giles

North-east

Hillcrest

7A Almadale Place:
Features: cross-lease, half share in 908m², 3 bedrooms, 2 bathrooms, double carport
Outcome: passed in
Agents: Cheryl Martin & Jacqui Freeman

North-west

Titirangi

8A West Lynn Rd, unit 3:
Features: cross-lease, quarter share in 1408m², 3-bedroom townhouse, deck, garden, internal-access garage
Outcome: passed in
Agents: Harvey Zhang & Alice Du

West Harbour

6 Glucina Avenue, unit 1:
Features: cross-lease, half share in 902m², 170m² 4-bedroom house, 3 bathrooms, double garage
Outcome: sold for $910,000
Agent: Kelly Zhang

Attribution: Auctions.

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The bus is back – investors throng auction rooms

The bus is back! As in, the (figurative) bus carrying investors from the airport to the Barfoot & Thompson auction rooms. After a lull in auctions – only a week ago, bidders at Barfoots had only 4 apartments to choose from at the Thursday morning session, and 2 houses in the afternoon – yesterday, the agency auctioned 62 residential properties, of which 26 were apartments, suburban units or on cross-leases, and 15 of those were sold.

At times, yesterday afternoon, there wasn’t even standing room in either of the 2 auction rooms operating simultaneously. Today it will be quieter again – 8 apartments up in the morning, a dozen residential properties in the afternoon.

CBD

Commerce/Gore

HarbourCity, 16 Gore St, unit 18C:
Features: 2-bedroom apartment, parking space
Outgoings: body corp levy $4539/year excluding water & gas, special remediation claim levy $1490
Outcome: no bid
Agent: Cathy Li

Victoria Quarter

SugarTree, 27 Union St, Prima unit 413:
Features: one-bedroom apartment, balcony
Outgoings: body corp levy $3078/year
Outcome: sold for $490,000
Agents: Kevin He & Yuki Zou

Isthmus east

Epsom

7 Goldsmith Rd, unit 5:
Features: cross-lease, one-11th share in 3067m², 3-bedroom unit, carport
Outcome: no bid
Agents: John Yao & Amy Liu

223 Manukau Rd, unit 1:
Features: cross-lease, one-8th share in 930m², 2-bedroom apartment, garden
Outcome: passed in
Agents: Maria Lambert & Anne Bruford

72C Onslow St:
Features: cross-lease, one-third share in 1014m², 3-bedroom unit, balcony
Outgoings: body corp levy $/year
Outcome: passed in
Agent: Laura Sun

123 Owens Rd, unit 19:
Features: cross-lease, one-24th share in 5721m², 2-bedroom apartment, balcony
Outcome: sold for $948,000
Agent: Sue Saywell

Meadowbank

31 Meadowbank Rd, unit 6:
Features: 2-bedroom apartment, decks, parking space
Outgoings: body corp levy $2293/year
Outcome: no bid
Agent: Paul Neshausen

Orakei

27A Awarua Crescent:
Features: cross-lease, half share in 892m², 3-bedroom house, double internal garage, storage; listed with defects, no code compliance certificate, offered as is where is
Outcome: no bid
Agent: Chris Patrick

Parnell

15 Augustus Terrace, unit 2B:
Features: one-bedroom apartment, study
Outgoings: body corp levy $5290/year
Outcome: sold for $621,000
Agents: Jill Jackson & Emma John

25 Cheshire St, unit B3:
Features: one-bedroom apartment, balcony, 2 secure internal parking spaces
Outgoings: body corp levy $4342/year
Outcome: passed in at $485,000
Agent: Cindy Yu

Farnham Terraces, 8 Farnham St, unit 4B:
Features: 2-bedroom terrace, courtyard, storage locker, parking space
Outgoings: body corp levy $5922/year
Outcome: sold for $875,000
Agents: Sarah Garlivk & Estee Zeng

133 St Stephens Avenue:
Features: 441m² 3-level townhouse, 3 bedrooms, 2 bathrooms, study, deck, double garage + 2 offstreet parking spaces
Outgoings: body corp levy $8531/year
Outcome: sold for $5.8 million
Agent: Kanta Lala

26 Windsor St:
Features: cross-lease, one-third share in 683m², 3-4-bedroom terrace, deck, internal access garage, rooftop garden; reclad due to leaky issues, all works have building consent & are complete, code compliance certificate due to be issued
Outcome: sold for $1.815 million
Agents: Jill Jackson & Emma John

Remuera

27 Lucerne Rd, unit 5:
Features: cross-lease, one-5th share in 1011m², 3-bedroom unit
Outcome: no bid
Agent: Ricky Yap

125 Ngapuhi Rd, unit 3:
Features: cross-lease, one-third share in 1669m², 2-bedroom house with separate downstairs one-bedroom flat, internal-access garage
Outcome: sold at pre-auction auction for $1.55 million
Agent: Julie Fitzpatrick

St Heliers

24 Sylvia Rd, unit 2:
Features: cross-lease, one-third share in 1270m², 3 bedrooms, deck
Outcome: no bid
Agents: Kelly Midwood

Isthmus west

Avondale

20 Blockhouse Bay Rd, unit 4:
Features: cross-lease, quarter share in 1153m², 4 bedrooms, office, courtyards
Outcome: sold for $777,000
Agents: Joanne Yu & Christine Wooding

Blockhouse Bay

4 Taylor St, unit 11:
Features: cross-lease, one-7th share in 3212m², 3 bedrooms, deck, courtyard
Outcome: sold for $855,000
Agents: Annie Hao & Alex Wu

Herne Bay

39 Sentinel Rd, unit 7:
Features: cross-lease, one-12th share in 1323m², one-bedroom unit, offstreet parking
Outcome: sold for $625,000
Agent: Alex Baker

Mt Albert

8C Fifth Avenue:
Features: cross-lease, quarter share in 1545m², 2 bedrooms, wraparound deck
Outcome: sold for $839,000
Agent: Cheryl Martin

Mt Eden

7 Edenvale Park Rd, unit 8:
Features: one-bedroom apartment, parking space
Outgoings: body corp levy $1537/year
Outcome: sold for $400,000
Agents: Derek Helliwell & Cathy Giles

Mt Roskill

174 Richardson Rd:
Features: cross-lease, half share in 1016m², 3 bedrooms, deck
Outcome: passed in
Agents: Yogesh Suri & John Mei

Sandringham

49 Kingsway Avenue, unit 2:
Features: 2-bedroom unit, garden, internal-access garage
Outgoings: body corp levy $212/year
Outcome: sold for $850,000
Agent: Rick Thevenard

North-west

New Lynn

31 Blease St, unit 1:
Features: cross-lease, one-15th share in 2792m², 3 bedrooms, carport
Outcome: no bid
Agents: Zaki Murumkar

Royal Heights

3 Forsythe Place, unit 1:
Features: cross-lease, half share in 787m², 3 bedrooms, deck, courtyards
Outcome: sold for $579,000
Agents: Rodney Latu

West Harbour

83 Luckens Rd:
Features: cross-lease, half share in 834m², 3-bedroom house, conservatory, deck, single garage + offstreet parking
Outcome: sold for $980,000
Agent: Michelle Rose

Attribution: Auctions.

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4 sell among offering of conversion, mix, sections & apartment

Barfoot & Thompson’s residential auction yesterday offered buyers a house converted into flats, a mix of commercial & apartments in one property, bare sections on the west of the isthmus and a Beaumont Quarter apartment. 4 of the 7 different offerings were sold.

Isthmus east

Orakei

27 Ngaiwi St:
Features: 807m² section, 4-bedroom house converted into 2 flats; 3 bathrooms, conservatory, study, 2 sunrooms, 3 carports, 6 offstreet parking spaces
Income assessment: $980/week current
Outcome: sold for $2.61 million
Agent: Philip Oldham

St Heliers

14 Maheke St:
Features: 304m² site, 412m² floor area on 3 levels, semi-commercial in mixed-used business 2 commercial 2 zone, 5 tenants; ground floor, Bay Audiology & professional offices, tandem parking + offstreet parking; level 2, apartment with decks, currently divided into 2 one-bedroom flats; level 2, 3-bedroom apartment, deck
Rent: 3 weekly residential tenancies totalling $1385/week, plus 2 commercial tenancies totalling $41,996/year + gst
Outcome: no bid
Agents: Lynette Boyd & Mark Peterson

Isthmus west

Avondale

44 Avondale Rd:
Features: 766m² section, house demolished, zoned residential 6A, mixed housing suburban under proposed unitary plan
Outcome: sold for $1 million at $1305/m² land
Agents: Anna Lechtchinski & Aken Yuan

Blockhouse Bay

397 Blockhouse Bay Rd, unit 3:
Features: 2-bedroom unit, carport
Outcome: passed in
Agents: Antony Dai & Lily Chen

Freemans Bay

Beaumont Quarter, 16E Fisher Pt Drive:
Features: 3-bedroom apartment, study, balcony, secure parking space
Outcome: passed in
Agents: Trevor Edwards & Jacinta Kerrigan

Mt Roskill

58A Ellis Avenue:
Features: 396m² section, new title pending
Outcome: sold for $637,000 at $1609/m² land
Agents: Aken Yuan & Shanthi Radha Krishnan

Sandringham

28 Locarno Avenue, unit 2:
Features: 2-bedroom unit, backyard, offstreet parking space
Outcome: sold for $496,000
Agent: Kelly Zhang

Attribution: Auctions.

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