Archive | Eden Terrace

4 apartments sell at Ray White auction

4 of the 6 apartments & townhouses auctioned at Ray White City Apartments yesterday were sold under the hammer.

CBD

Learning Quarter

Connaught, 14 Waterloo Quadrant, units 5A & 5L:
Features: 130m², 2 bedrooms, 2 bathrooms, balcony, 2 storage lockers, secure parking space
Outgoings: rates $2539/year including gst; body corp levy 5A $5245/year, 5L $5032/year (currently includes 2 parking spaces)
Income assessment: $850-895/week furnished, $2100/week furnished & serviced
Outcome: sold for $1.25 million
Agents: Adele Keane & Dusan Valenta

Uptown

Verandahs, 36 Boardman Lane:
Features: 55m², 2 bedrooms, deck, parking space
Outgoings: rates $1214/year including gst; body corp levy $4790/year
Outcome: sold for $425,000
Agents: Adele Keane & Dusan Valenta

Victoria Quarter

Ascent, 149 Nelson St, unit 515:
Features: 39m², one bedroom, parking space; code compliance certificate awaited following remediation, stage 2 remedial works due to start
Outgoings: rates $1007/year including gst; body corp levy $3064/year
Income assessment: $410/week, fixed until April
Outcome: sold for $255,000
Agents: Damian Piggin & Daniel Horrobin

Isthmus east

Parnell

Quest Parnell, 6-8 Heather St, unit 310:
Features: 30m² studio, leased to Quest Hotel until 2023
Outgoings: rates $4461/year including gst; body corp levy $2552/year
Income assessment: $17,640/year including gst, review due April 2018
Outcome: passed in, back on market at $235,000 + gst
Agent: Susanne Bussell

Isthmus west

Eden Terrace

70 Randolph St, unit 3:
Features: 80m², renovated 2-bedroom townhouse, internal-access parking space
Outgoings: rates $1542/year including gst; body corp levy $2403/year
Income assessment: $650-700/week furnished
Outcome: sold for $642,000
Agents: Mitch Agnew & Krister Samuel

Mt Eden

42 Harold St:
Features: 120m², 2 bedrooms, study, double garage
Outgoings: rates $1804/year including gst; body corp levy $3277/year
Income assessment: $700-750/week furnished
Outcome: no bid
Agent: Krister Samuel

Attribution: Auction.

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Bidding war for Lighter Quay investment

Competition was tough at Ray White City Apartments’ auction today for a Lighter Quay Pavilion (pictured) leasehold unit, which has a record of high returns from short & medium-stay rents.

An Eden Terrace apartment was passed in.

CBD

Wynyard Quarter

Lighter Quay Pavilion, 79 Halsey St, unit 215:
Features: leasehold, 58m², one bedroom, secure basement parking space
Outgoings: rates $1656/year including gst; body corp levy $3100/year, ground rent $2920/year
Income assessment: $155/night shortstay currently; appraisals $155-170/night shortstay, $530-570/week long-term stay
Outcome: sold for $235,000
Agent: Krister Samuel

Isthmus west

Eden Terrace

Newton Rise, 121 Newton Rd, unit 3A:
Features: 93m², 2 bedrooms, balcony, parking space
Outgoings: rates $1545/year including gst; body corp levy $4772/year
Outcome: passed in at $600,000
Agents: Jean Ooi

Attribution: Auction.

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2 apartments sell at Ray White auction

2 of the 5 units auctioned at Ray White City Apartments today were sold under the hammer, one in the Grand Chancellor hotel building and the other in Eden Terrace.

CBD

Learning Quarter

Forte, 37 Symonds St, unit 1302:
Features: 48m² corner unit, 2 bedrooms, balcony
Outgoings: rates $1383/year including gst; body corp levy $4149/year, special levy $703 to fireproof riser shafts
Income assessment: $500/week fixed until 30 April, appraisal $530-560/week furnished
Outcome: passed in after bid at $300,000, vendor bid at $400,000
Agents: May Ma & Mark Li

Uptown

Q Central, 36 Liverpool St, unit 3A:
Features: leasehold, 59m², 2 bedrooms
Outgoings: rates $1188/year including gst; body corp levy $3534/year, ground rent $7173/year, next ground lease review December 2018
Income assessment: $1894/month on Housing NZ lease expiring in March 2019
Outcome: passed in on sole bid from vendor of $100,000
Agents: May Ma & Mark Li

Victoria Quarter

Grand Chancellor, 1 Hobson St, unit 803:
Features: 57m², one bedroom, with a new title excluding the parking space (and reducing rates & body corp levy accordingly)
Outgoings: rates $1812/year including gst; body corp levy $4763/year
Outcome: sold for $612,000
Agent: Josh Muriwai

Waterfront

Sebel Suites, 85 Customs St, unit 610:
Features: leasehold, 57m², one bedroom, study, balcony overlooking Viaduct Basin
Outgoings: rates $1913/year including gst; body corp opex levy $8852/year, ground lease $6806/year
Income assessment: $500/week current, appraisal $620-680/week furnished
Outcome: passed in at $201,000
Agents: Damian Piggin & Daniel Horrobin

Isthmus west

Eden Terrace

10 Ruru St, unit 9:
Features: 114m², 3 levels, 2 bedrooms, deck, tandem internal-access garage, storage
Outgoings: rates $1596/year including gst; body corp levy $2913/year
Income assessment: appraisal $650-700/week
Outcome: sold for $700,000
Agent: Krister Samuel

Attribution: Auction.

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Docks unit with parking sells

A leasehold Docks apartment (pictured) plus 4 parking spaces sold at Ray White City Apartments’ auction today, while an Eden Terrace unit attracted no bid.

CBD

Quay Park

The Docks, 4 Dockside Lane, unit 138:
Features: terminating leasehold (in 2161) – next review November 2018, 45m², one bedroom, 4 parking spaces (2 tandems); discovery underway for remediation works, now estimated at $8.5 million
Outgoings: rates $1604/year including gst; body corp levy $9687/year including $3722 ground rent
Income assessment: current $490/week for unit + one tandem space, rented long-term
Outcome: sold for $150,000
Agents: Dominic Worthington & Ady Huang

Isthmus west

Eden Terrace

Newton Rise, 121 Newton Rd, unit 4A:
Features: 93m², 2 bedrooms, parking space
Outcome: no bid
Agents: Susan Woods-Markwick & Clarissa Searle

Attribution: Auction.

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One out of 4 apartments sold, another now conditional

The first apartment auctioned at City Sales yesterday, in the Pulse in Grey Lynn, was sold under the hammer and the other 3 were passed in on light bidding. One of those has subsequently been sold conditionally.

Isthmus west

Eden Terrace

The Mews, 8 Basque Rd, unit 1:
Features: 111m², 3 bedrooms, 2 bathrooms, 34m² covered deck, parking space
Outgoings: rates $966/year including gst; body corp levy $6064/year including water & gas
Outcome: passed in at $715,000
Agents: Tanya Rotherham

Grey Lynn

The Pulse, 80 Richmond Rd, unit 2B:
Features: 45m², one bedroom, deck, parking space
Outgoings: rates $789/year including gst; body corp levy $3664/year
Outcome: sold for $550,000
Agents: Anna Birkenhead & Tina Bartlett

Kingsland

29 Rossmay Terrace, unit 15:
Features: 120m², 2 bedrooms + flexi-room, deck, parking space
Outgoings: rates $1843/year including gst; body corp levy $3263/year
Outcome: passed in at $625,000, sold conditionally post-auction
Agents: Habeeb Urrahman & Steve Kirk

North-west

New Lynn

10 Crown Lynn Place, unit 5B:
Features: 65m², 2 bedrooms, deck, parking space
Outgoings: rates $1191/year including gst; body corp levy $4980/year
Outcome: no bid
Agents: Habeeb Urrahman & Steve Kirk

Attribution: Auction.

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3 central area buildings & Eden Terrace development property sold

Bayleys agents have sold 3 central area properties on High St (pictured above), Queen St and on Vernon St, plus an Eden Terrace site intended for development.

The Vernon St building is just up from the convergence of Victoria & Wellesley Sts at Victoria Park, and round the corner from some major developments occurring along Sale St.

CBD 

High St

41 High St:
Features: 240m² site, 434m² 2-level character building, ground floor previously occupied by fashion store is vacant while upstairs is leased to tanning clinic with March 2018 final expiry
Rent $61,219/year net + gst
Outcome: sold for $5.9 million
Agents: Cameron Melhuish & Mike Adams

Queen St

239 Queen St:
Features: 38m² retail unit on Queen St frontage of Mid City complex; new 12-year lease to Avanchi kebab takeaway, in occupation for over 10 years
Rent: $150,219/year net + gst
Outcome: sold for $2,935,657 at a 5.13% yield
Agents: Quinn Ngo & James Chan

Victoria Quarter

2A-2D Vernon St: 
Features: 3-level mixed-use unit-titled building comprising 111m2 boutique office floor with monthly tenancy, 3 81-90m2 apartments above, plus basement parking
Rent: $37,080/year net + gst on office space; apartments leased at $700-750/week on monthly residential tenancies
Outcome: sold for $3.2 million at a 4.7% yield
Agents: Cameron Melhuish, Matt Gordon & Genevieve Thompson-Ford

1 Minnie St, Eden Terrace.

Isthmus west

Eden Terrace

1 Minnie St:
Features: underdeveloped 1115m² elevated corner site zoned mixed use, 809m² 3-level building with warehouse, office & showroom space on first 2 levels & 3-bedroom apartment above
Outcome: sold to a developer for $3.888 million with vacant possession on long-term settlement
Agents: Scott Kirk & James Were

Attribution: Agency release.

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2 sales out of 9 auctioned as views diverge on apartment & unit market direction

2 of the 6 cbd apartments and none of the 3 suburban units auctioned at Barfoot & Thompson yesterday sold under the hammer.

The wide margin between the top bids and subsequent pricing of unsold units indicates the divergence between vendor aspirations and the direction buyers think the market is moving in.

CBD

Albert St

Manhattan, 105 Albert St, unit 11A:
Features: 80m², 2 bedrooms
Outgoings: rates $1544/year including gst; body corp levy $8035/year
Outcome: sold for $525,000
Agent: Aaron Cook

CBD east

The Beach, 85 Beach Rd, unit 506:
Features: 49m², one bedroom, balcony
Outgoings: body corp levy $3667/year
Income assessment: $460/week fixed until September
Outcome: passed in at $350,000, back on market at $479,000
Agents: Bett Shao & Rico Zhao

Learning Quarter

Silo, 23 Emily Place, unit 4L:
Features: 2-bedroom loft, secure parking space
Outgoings: body corp levy $829/year
Outcome: passed in at $500,000, back on market at $699,000
Agents: Stephen & Leo Shin

Uptown

Urba, 5 Howe St, unit 603:
Features: 55m² including balcony, 2 bedrooms
Outcome: passed in at $450,000, back on market at $625,000
Agent: Stephen Chang

Victoria Quarter

Heritage Farmers, 35 Hobson St, unit 628:
Features: 32m² air-conditioned studio
Outgoings: body corp levy $1833/year
Outcome: sold for $255,000
Agent: Livia Li

Imperial Gardens, 135 Hobson St, unit 218:
Features: 2 bedrooms, storage locker, parking space
Outcome: auction postponed until 29 June
Agents: Wendy Feng & Jack Li

Isthmus east

Onehunga

97J Mays Rd:
Features: 2-bedroom unit, garage
Outcome: withdrawn from auction
Agents: Paula Boontueng & Young Kim

Isthmus west

Eden Terrace

Fleetwood, 19 Fleet St, unit C6:
Features: 95m², 2 bedrooms, separate dining & living spaces, deck, storage unit, covered parking space, post-remediation code compliance certificate issued April 2016
Outgoings: body corp levy $3982/year
Outcome: passed in at $650,000, back on market at $719,000
Agents: Zoran Farac & Stephen Shin

Mt Albert

51 Seaview Terrace:
Features: cross-lease, quarter share in 1195m², 60m² one-bedroom unit, deck, carport
Outcome: no bid
Agents: Samantha Chaudhry & Leo Perera

Sandringham

22 Coyle St, unit 3:
Features: 2-bedroom unit, garage
Outgoings: body corp levy $789/year
Outcome: passed in at $825,000
Agent: Helen Lam

North-west

Glendene

33 Butterworth Drive, unit 1:
Features: cross-lease, half share in 616m², 2-bedroom unit, study, garage
Outcome: no bid
Agent: Tristan Young

Attribution: Auctions.

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2 apartments sell at City Sales auction

An apartment in The Peaks on Victoria St (pictured) was sold under the hammer at City Sales today, and one in the Harvard on Hobson St was sold shortly after the auction. An Eden Terrace unit was passed in.

CBD

Victoria Quarter

Harvard, 147 Hobson St, unit 3I:
Features: 37m², 2 bedrooms
Outgoings: rates $1101/year including gst; body corp levy $4003/year
Outcome: passed in at $342,500, sold shortly after auction for $345,000
Agents: Habeeb Urrahman & Steve Kirk

The Peaks, 117 Victoria St West, unit 5B:
Features: 145m², 3 bedrooms, 2 bathrooms, wraparound deck, storage locker, parking space
Outgoings: rates $2292/year including gst; body corp levy $7153/year
Outcome: sold for $1.14 million
Agent: Iona Rodrigues

Isthmus west

Eden Terrace

Virginia, 43 Virginia Avenue East, unit 203:
Features: 48m², 2 bedrooms, deck, parking space
Outgoings: rates $1232/year including gst; body corp levy $4458/year
Income assessment: $475-500/week
Outcome: passed in at $460,000
Agent: Trisha Shanaghan

Attribution: Auction.

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Heritage Grand & Citta units sell

A Heritage Grand Tower studio was sold under the hammer at City Sales’ auction yesterday, and a Citta studio (building pictured) with parking space was sold before the auction for $48,000 more than it went for in December.

A large unit in The Mews on Basque Rd, Eden Terrace,with remediation work almost complete, was passed in, and 2 leasehold units in Q Central, at the top of Queen St, were also passed in.

CBD

Uptown

Q Central, 26 Liverpool St, unit 2B:
Features: leasehold, 65m², 2 bedrooms, deck, tandem lockup garage
Outgoings: rates $1341/year including gst; body corp levy $3642/year, ground rent $6893/year
Outcome: passed in at $135,000
Agents: Maryanne Wong

Q Central, 34 Liverpool St, unit 6B:
Features: leasehold, 70m², 2 bedrooms, deck, storage locker, 2 parking spaces
Outgoings: rates $1341/year including gst; body corp levy $4907/year, ground rent $8808
Income assessment: $600-650/week
Outcome: passed in at $120,000
Agents: Kristine Snore

Victoria Quarter

Heritage Grand Tower, 22 Nelson St, unit 315:
Features: 37m² studio including deck
Outgoings: rates $1063/year including gst; body corp levy $3734/year
Outcome: sold for $268,000
Agents: Iona Rodrigues

Isthmus east

Grafton

Citta, 186 Symonds St, unit 302:
Features: 36m² studio, parking space
Outgoings: rates $1093/year including gst; body corp levy $3143/year
Outcome: sold in December for $320,000, sold prior for $368,000
Agents: Steve Kirk & Habeeb Urrahman

Isthmus west

Eden Terrace

The Mews, 8 Basque Rd, unit 7/4C:
Features: 122m² including deck, 2 bedrooms, 2 bathrooms, tandem parking; remediation project almost completed, final repair costs not yet known, code compliance certificate still to be issued
Outgoings: rates $1030/year including gst; body corp levy $5126/year
Outcome: passed in at $790,000
Agents: Trisha Shanaghan

Attribution: Auction.

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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.

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