Archive | Freemans Bay

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Outcome: withdrawn from auction, changed to sale by deadline private treaty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Outcome: withdrawn from auction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.

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Corrected: Ellerslie development site & Freemans Bay apartments site sell

Corrected 13 April 2017:
A development site on the Ellerslie side of the Ellerslie-Panmure motorway roundabout (pictured) has been sold by Colliers agents at $880/m², and a site in Freemans Bay has been sold with consent for 29 apartments in place. The size of the Hargreaves St site and an agent’s name have been corrected.

Isthmus east

Ellerslie

43 Wilkinson Rd:
Features: 4547m² commercial development site, consent in place for an office development comprising over 6000m² of lettable floor space plus 140 parking spaces
Outcome: sold for $4 million, at $880/m²
Agents: Gareth Fraser, Kris Ongley & Charlie Oscroft

Isthmus west

Freemans Bay

Corrected: 25 Hargreaves St:
Features: 1219m² mixed use site with consent for 29 apartments, 4 retail units & 33 parking spaces
Rent: $241,341.27/year + gst net current from several tenants, vacant possession available with 6 months’ notice
Outcome: sold for $5.4 million + gst
Agents: Kris Ongley (Colliers) & Scott Kirk (Bayleys)

South of the Bombays

Manawatu – Palmerston North

433-441 Rangitikei St:
Features: 1.32ha heavy industrial site, floor area 2727m²
Rent: holding income $305,000/year
Outcome: sold for $2.8 million
Agents: Grant Lloyd, Phil Nevill & Doug Russell

Attribution: Agency release.

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5 sell out of 13 intensive units auctioned at Barfoots

5 units sold out of 13 apartments, townhouses, suburban units & cross-leases auctioned at Barfoot & Thompson’s city office yesterday, and one cbd apartment was withdrawn. Among the sales was a 2-bedroom apartment overlooking Parnell Rd (pictured).

CBD

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 2207:
Features: 2-bedroom apartment, balcony, parking space
Outcome: withdrawn from auction
Agent: Dong Liu

Isthmus east

Epsom

218 Green Lane West, unit 37:
Features: 3-bedroom unit, 2 bathrooms, study, double garage
Outgoings: body corp levy $4250/year
Outcome: passed in at $900,000
Agents: George Fong & Laura McAuley

Newmarket

73C Carlton Gore Rd, unit 3:
Features: one-bedroom 1930s apartment, private courtyard
Outcome: passed in
Agents: Cheryl Burgess & Ian Griffiths

Kings Square, 26 Remuera Rd, unit 506:
Features: over 100m², 3-bedroom apartment, 2 bathrooms, double garage
Outgoings: body corp levy $3421/year
Outcome: no bid, back on market at $1.019 million
Agents: Cici & Miro Wang

9 Sarawia St, unit 408:
Features: one-bedroom apartment in former motel, offstreet parking
Outcome: sold for $432,500
Agents: Jill Jackson & Emma John

Parnell

387 Parnell Rd, unit 6:
Features: 2-bedroom apartment, tandem garage
Outgoings: rates $2183/year including gst; body corp levy $7232/year
Outcome: sold for $830,000
Agents: Silvia Poletti & Bobby McMillan

Remuera

11 & 13 Hapua St:
Features: 2 adjoining properties on combined 1602m², 4-bedroom duplex with double internal-access garage on 641m², 3 bathrooms, and vacant 961m² section with resource consent for 2 houses
Outcome: no bid
Agent: Cindy Yu

Isthmus west

Freemans Bay

47 Napier St:
Features: 119m², 3-bedroom terrace, 2 bathrooms, courtyard, internal-access garage
Outgoings: body corp levy $4834/year
Outcome: sold for $972,500
Agent: Ric Parore

116 Wellington St, unit 3:
Features: one-bedroom unit, private courtyard, storage, offstreet parking
Outgoings: body corp levy $2512/year
Outcome: sold for $665,000
Agent: André Boddé

Grey Lynn

7C Scanlan St:
Features: 136m², 2-level 2-bedroom apartment in warehouse conversion, storage, 2 parking spaces
Outgoings: body corp levy $1646/year
Outcome: no bid
Agent: David Dowse

Kingsland

52 Aitken Terrace, unit 1B:
Features: 2-bedroom apartment, deck, double basement garage
Outgoings: body corp levy $4900/year
Outcome: sold for $920,000
Agents: Susan Murdock & Sue Cohen

Mt Eden

68 Ellerton Rd:
Features: cross-lease, half share in 976m², 3-bedroom villa, attic, study, carport
Outcome: no bid
Agents: Derek Helliwell & Di Lynds

Mt Roskill

7 Jasper Avenue:
Features: cross-lease, half share in 837m², 3-bedroom bungalow, carport
Outcome: passed in at $935,000
Agents: Bella Stefano & Sherry Shao

Sandringham

99B Lambeth Rd:
Features: cross-lease, quarter share in 1214m², 3-bedroom house, deck, carport
Outcome: no bid
Agent: Mal MacElvanna

Attribution: Auctions.

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Auctionroom climate change

A hush, in a room where last year there was a constant buzz and the most commonly used word, “mln”, was spoken almost as an afterthought.

Today, among the intensively developed residential properties on the market, 4 sold and 4 were passed in.

A bid, an excruciatingly long pause, much agent to-ing & fro-ing. The message comes back: no increase. Just under $40,000 later, the couple who weren’t going to pay a penny more hear the hammer fall in their favour and they’ve bought a house for just over $1.8 million.

For other properties, the bidding just stops or, for many, doesn’t start at all. Often, though, a sale may be concluded within half an hour of the property being passed in. That happened 3 times while I was there today and, of 20 properties offered (I missed the last 4), 12 sold although buyers were few & far between.

At the peak last year, Barfoot & Thompson’s city auctionroom pushed up to 80 homes/day through the process, 2 sessions/day on at least 2 days/week and often 2 auctionrooms operating simultaneously.

The auctions are now spread over 4 days, the total in a day might be around 30 or even down to 20, the buzz has gone and it’s the vendors who are facing the tough questions on price. Still, in this climate a success rate of 60% is not to be sneezed at.

What’s made the difference between last year’s boom times & now? Foreign investor curbs, and the price of money has changed.

Below, the intensive offerings:

CBD

Victoria Quarter

City Oaks, 188 Hobson St, unit 610:
Features: 2-bedroom apartment
Outgoings: body corp levy $5859/year
Outcome: no bid
Agents: Frances Li & Ian Thornhill

Isthmus east

Epsom

36 Pah Rd, unit 2:
Features: cross-lease, half share in 852m², 4 bedrooms, double internal-access garage
Outcome: sold for $1.315 million
Agents: Vern Hines & Sara Knight

30A & 30B Selwyn Rd:
Features: cross-lease, half share in 902m², bungalow converted into 2 flats, one of one bedroom the other of 2 bedrooms
Outcome: no bid
Agents: Diana Buczkowski & Peter West

165 The Drive:
Features: cross-lease, half share in 814m², 4 bedrooms, sunroom, internal-access garage
Outcome: sold for $1.648 million
Agent: Robert Thompson

Isthmus west

Freemans Bay

32 Ireland St, unit 4:
Features: 2 bedrooms, double internal-access garage
Outgoings: body corp levy $3054/year plus second levy of $1123
Outcome: sold post-auction
Agents: George Damiris & Anna Lechtchinski

Mt Eden

18 Leamington Rd:
Features: cross-lease, 1/6 share in 1856m², 3 bedrooms, garage
Outcome: passed in at $1.181 million
Agents: Joanne Simpson & Repeka Lelaulu

Westmere

214A Garnet Rd:
Features: cross-lease, half share in 814m², 3 bedrooms, 2 bathrooms, double garage
Outcome: sold for $1.47 million
Agents: Felicity Scott

North-west

New Lynn

31 Nikau St, unit 2:
Features: 2-bedroom unit, deck, garage
Outgoings: body corp levy $675/year
Outcome: passed in
Agents: George Damiris & Carl Madsen

Attribution: Auction.

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Bayleys Shore agents finish year with 4 sales & 6 leases

Bayleys agents on the North Shore finished 2016 with 4 sales outside the auctionroom, 2 of them in Freemans Bay & East Tamaki, and 6 leases on the Shore.

The sales included 2 adjoining properties across the street from the New World supermarket in Freemans Bay (pictured), used for their office space but sold for their land at $6490/m².

Sales:

Isthmus west

Freemans Bay

3 Scotland St & 44 Ireland St:
Features: 490m² in 2 titles zoned mixed use, 2 office buildings totalling 281.7m², 7 parking spaces
Rent: $63,669/year net
Outcome: sold through a tender in December for $3.18 million + gst at a 2% yield, land price $6490/m²
Agents: Paul Prouse, Ranjan Unka & Stephen Scott

North-east

Northcote

218-224 Lake Rd:
Features: 2494m² site, 896m² office building zoned mixed housing, 32 parking spaces
Outcome: sold in November for $4.45 million + gst at $1784.28/m² land & building
Agents: Tonia Robertson & Chris White

Rosedale

6-8 Omega St, unit 5:
Features: 165m² office unit, 3 parking spaces + 2 shared
Outcome: sold for $540,000 + gst, at $3272/m² land & building
Agents: Ildy Meixner & Alex Strever (Bayleys), Brian Paulin (Barfoot & Thompson)

South

East Tamaki

26 Ross Reid Place:
Features: 7218m² industrial site, 4722m² building
Rent: $616,008.71/year net
Outcome: sold in December for $10 million + gst at a 6.16% yield
Agents: Laurie Burt, Michael Nees, Simon Aldridge & David Huang

Leases:

North-east

Albany

221-223 Dairy Flat Highway, shop 2:
Features: 88m² shop, 3 parking spaces
Rent: leased in December for $26,000/year net + gst at $295.50/m² (assuming parking free)
Agents: Steven Liu & Ildy Meixner

Milford

6-8 Milford Rd, level 1:
Features: 20m² office, no parking
Rent: leased in December for $7500/year net + gst, premises rental $375/m²
Agent: David Huang

Rosedale

9 Beatrice Tinsley Crescent, part unit F:
Features: 278m² warehouse, no parking
Rent: leased in December for $32,000/year net + gst, premises rental $115/m²
Agent: Laurie Burt

61 Constellation Drive, part building 3, level 2:
Features: 292m² office, 9 parking spaces
Rent: leased in December for $109,778.40/year net + gst, $93,398 excluding parking, parking at $35/space/week, premises rental $320/m²
Agents: Ryan Dannhauser, Alex Strever, Jane Sims & Paul Prouse

7 Vega Place, unit F:
Features: 155m² unit – warehouse 57.6m², showroom 20m², low-stud area 17m², office 20m² (40m² unspecified), 3 parking spaces
Rent: leased in December for $23,000/year net + gst at $148/m² (assuming parking free)
Agent: Laurie Burt

36 William Pickering Drive, unit 7:
Features: 305.5m² floor & yard – office 102m², warehouse 137.5m², yard 66m², 5 parking spaces
Rent: leased in December for $40,000/year net + gst at $130.90/m² (assuming parking free)
Agents: Laurie Burt & Trevor Duffin

Attribution: Agency release.

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19 intensive properties sell at 3 Barfoot sessions

In 3 auction sessions at its city rooms on Wednesday & Thursday, Barfoot & Thompson sold 17 intensive properties out of 28 on offer, and another 2 shortly after the auction – a 68% clearance rate.

12 of those properties are on cross-leases, some of them fullscale houses, but I rate them as intensive because they do intensify land use and certainly affect land values.

The auctionrooms are mostly quieter, and the process much slower as vendors negotiate for an immediate sale or hang in for what might ultimately not be a sale at a higher figure.

I’ve reported separately on the agency’s apartments & commercial auction on Thursday morning, when one of 2 commercial properties and 3 of the 4 apartments were sold.

CBD

Learning Quarter

Silo, 23 Emily Place, unit 4N:
Features: 17m² studio, enclosed courtyard, parking space
Outcome: sold for $395,000 at pre-auction
Agents: Leo & Stephen Shin

Isthmus east

Epsom

30 Gardner Rd, units A & B:
Features: 2 homes totalling 270m², one of 2 bedrooms, the other of 3 bedrooms
Outgoings: body corp levy $2674/year
Income assessment: $1400/week current
Outcome: passed in
Agents: Julia Zhu

228F Green Lane West:
Features: 2-bedroom townhouse, double carport, storage
Outgoings: body corp levy $4956/year
Outcome: sold for $687,000
Agent: Victor Lai

33A King George Avenue:
Features: cross-lease, half share in 776m², 4 bedrooms, 3 bathrooms, study, patio, double internal-access garage
Outcome: no bid, back on market at $1.625 million
Agents: Frank Excell & Ketiesha Elliott

17 Selwyn Rd unit 2:
Features: cross-lease, 1/6 share in 1485m², 2-bedroom unit, deck, internal-access garage
Outcome: sold for $876,000
Agents: Robyn Preece

71 Wheturangi Rd:
Features: cross-lease, 1/3 share in 1434m², 4-bedroom house, 2 bathrooms, 2 parking spaces
Outcome: passed in at $1.75 million
Agents: Wendy Sadd & Helen Lam

Greenlane

8 Korokino Rd:
Features: cross-lease, half share in 870m², 3 bedrooms, 2 bathrooms, deck, double garage
Outcome: sold for $1.15 million
Agents: Cici Wang

Mission Bay

10 Tagalad Rd, unit 6;
Features: one-bedroom apartment, conservatory, storage room
Outcome: sold for $890,000
Agent: Karin Cooper

Onehunga

111H Church St:
Features: cross-lease, 1/5 share in 769m², 2-bedroom townhouse, 2 parking spaces
Outgoings: body corp levy $2183/year
Outcome: sold for $650,000
Agent: Elvira Abdrazakova

76 Galway St, unit 2:
Features: 3-bedroom unit, 2 bathrooms, courtyard, double internal-access garage + 2 offstreet spaces
Outcome: sold for $805,000
Agent: Vicki Du

One Tree Hill

51A Tawa Rd:
Features: cross-lease, half share in 819m², 3 bedrooms, 2 bathrooms, patio, 2 parking spaces
Outcome: sold for $1.16 million
Agent: Wendy Sadd

Parnell

16 Aorere St:
Features: 213m² site, 3 bedrooms, 2 bathrooms, 2 balconies, ground-floor deck, patio, single garage + 2 offstreet spaces
Outcome: no bid, back on market at $1.495 million
Agent: Steve Hood

26 Brighton Rd, unit 3:
Features: 169m², 3-bedroom townhouse, 2 bathrooms, double internal-access garage, garden
Outgoings: rates $3275/year including gst; body corp levy $1376/year
Outcome: sold for $1.515 million
Agent: Cindy Yu

Remuera

171 Portland Rd, unit 2:
Features: 2-bedroom unit
Outcome: no bid, back on market at $898,000
Agent: Julie Fitzpatrick

5A Ventnor Rd:
Features: cross-lease, half share in 852m², 3 bedrooms, 3 bathrooms, office, deck, double internal-access garage
Outcome: passed in at $1.575 million
Agent: Debbie-Lee Wallace

St Heliers

278 St Heliers Bay Rd, unit 2:
Features: 2-bedroom townhouse, balcony for each bedroom, deck
Outcome: sold for $840,000
Agent: Julie Kennedy

St Johns

35 Simkin Avenue, unit 2:
Features: cross-lease, 607m², 82m² 2-bedroom unit, storage, garden, carport
Outcome: no bid, sold post-auction
Agent: Keith Simpson

Isthmus west

Freemans Bay

148 Howe St, unit 18:
Features: 2 bedrooms, offstreet parking space
Outgoings: body corp levy $4362/year
Outcome: sold post-auction
Agents: Andre Bodde

Hillsborough

55 Aldersgate Rd:
Features: cross-lease, half share in 1542m², 4 bedrooms, 2 bathrooms, double carport
Outcome: sold for $1.2 million
Agents: Anna Copeland

Mt Albert

1 Preston Avenue, unit 4:
Features: 73m² land, 2-bedroom unit, garage
Outcome: passed in
Agents: Wayne Guo & Sammi Huang

Mt Eden

1 Akiraho St, unit 13:
Features: 2-bedroom apartment, 2 bedrooms, balcony, 2 parking spaces
Outgoings: body corp levy $3842/year
Outcome: sold for $728,000
Agents: Sue Saywell

79A Grange Rd:
Features: 3-bedroom villa converted into 3 one-bedroom flats
Outgoings: body corp levy nil
Income assessment: $73,840/year current
Outcome: sold for $1.7 million
Agents: Paul Donovan & Sharon Walls

Mt Roskill

980 Dominion Rd:
Features: 875m² section, ex-state house, 4 bedrooms, carport, zoned business – mixed use under unitary plan
Outcome: sold for $2.252 million
Agent: Kathy Bower

Sandringham

268A Balmoral Rd:
Features: cross-lease, half share in 1586m², 2-bedroom art deco house, garage
Outcome: passed in
Agents: Frank Excell & Ketiesha Elliott

6 Eden View Rd, unit 5:
Features: cross-lease, 1/10 share in 1231m², 57m² 2-bedroom unit, offstreet parking
Outcome: sold for $510,000
Agents: Lucy Liu

Westmere

111 West End Rd:
Features: cross-lease, half share in 721m², 3 bedrooms, 3 bathrooms, office, offstreet parking
Outcome: sold for $1.5 million
Agents: George Damiris & Bruce Murtagh

North-west

Glen Eden

111 Albionvale Rd:
Features: 103m² fee simple section, 3-bedroom townhouse, 2 bathrooms, garage
Outcome: passed in
Agents: Sachin & Naresh Mistry

Sunnyvale

20 Sunshine Boulevard:
Features: 199m² site, 180m² internal space, 4 bedrooms, 2 bathrooms, internal-access garage
Outcome: sold for $726,000
Agents: Stephen Shin & Barry He

Apartments & commercial auction, 3 November 2016: Grey Lynn shops & 3 apartments 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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4 apartments & townhouses sold

Bayleys sold 4 apartments & townhouses at its Remuera & city auctions last week, including 2 in Broadway Park (picture shows the Oakridge apartments at Broadway Park).

CBD

Learning Quarter

Oxford, 13-15 Mount St, unit 10B:
Features: furnished corner unit, 2 bedrooms
Outgoings: rates $1367/year including gst
Outcome: passed in
Agent: Dave Hamlyn

Isthmus east

Remuera

Broadway Park, 25 John Stokes Terrace:
Features: split level, 4 bedrooms, 2 bathrooms, double garage
Outgoings: rates $4696/year including gst
Outcome: sold for $2 million
Agents: Wei Wei Elder & Ross Tierney

Broadway Park, Oakridge, 10 Middleton Rd, unit 201:
Features: 3 bedrooms, 2 bathrooms, tandem parking, 2 storage units
Outcome: sold for $1.8 million
Agent: Paul Sissons

Isthmus west

Freemans Bay

28 College Hill, unit 303:
Features: 2 bedrooms, 2 bathrooms, 2 parking spaces
Outgoings: rates $2690/year including gst
Outcome: passed in
Agents: Jenna Kendrick & Wendy Nichols

Grey Lynn

39 Mackelvie St, unit 4D:
Features: top floor, 2 bedrooms, 2 bathrooms, balcony, 2 parking spaces
Outcome: sold for $926,000
Agent: Chris Batchelor

North-west

Glen Eden

35 Barnea Circle:
Features: m², 3-level townhouse, 3 bedrooms, 2 bathrooms, internal-access garage
Outcome: sold for $545,000
Agent: Mark Birdling

South

Mangere Bridge

32 Kapuka Rd, lots 1, 2 & 3:
Features: 1128m² of flat land in 3 titles – one 2-bedroom flat & 2 one-bedroom flats
Outcome: passed in
Agents: Wei Wei Elder & Ross Tierney

Attribution: Agency release.

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Cross-leases attract interest, mixed reaction to sections

Trade has changed in the busiest residential auctionroom in Auckland, at Barfoot & Thompson in Shortland St. Volume is down, buyers are mostly cagier than they were a few months ago, there’s vendor resistance to cutting the reserve. Of the 45 properties on offer at 3 auction sessions in the last 2 days, 25 sold under the hammer – a 55% clearance rate.

The agency sold 7 of the 9 properties auctioned at the morning session on Wednesday, including 3 of the 4 cross-leased homes.

In the afternoon I noted 14 intensive properties – or land destined to become more intensively used. 8 of them sold, including one Te Atatu property (pictured) priced at $1136/m², but land in New Windsor was passed in at similar price levels. All up in that session, 16 of the 31 properties auctioned were sold.

At Barfoots’ apartments auction this morning, 2 of the 5 units sold under the hammer (covered in separate story – click here).

CBD

Learning Quarter

Emily, 22 Emily Place, unit 5A:
Features: 2-bedroom apartment, study
Outgoings: body corp levy $8524/year
Outcome: no bid
Agents: Aken Yuan & Tony Jiang

Victoria Quarter

Harvard, 147 Hobson St, unit 5N:
Features: fully furnished 2-bedroom apartment, parking space
Outgoings: body corp levy $5054/year
Outcome: no bid
Agent: Simon Cai

Isthmus east

Ellerslie

222 Main Highway:
Features: cross-lease, half share in 936m², 3 bedrooms, garage
Outcome: sold for $935,000
Agent: Matt O’Brien

Glendowie

70C Riddell Rd:
Features: cross-lease, 1/8th share in 4036m², 3 bedrooms, garden
Outcome: sold for $1.35 million
Agents: Romelle Smith & Alan Vessey

Meadowbank

239 St Johns Rd, unit 2:
Features: cross-lease, one-third share in 1416m², 3-bedroom unit, storage, garage
Outcome: passed in at $950,000
Agent: Neno Radinovich

Mt Wellington

267A Mt Wellington Highway:
Features: cross-lease, one-third share in 1184m², 4 bedrooms
Outcome: sold “as is” for $680,000
Agent: Zane Munif

Onehunga

53 Mays Rd, unit 4:
Features: cross-lease, 1/13th share in 5096m², 3 bedrooms
Outcome: sold for $860,000
Agent: Leonie Stabler

St Heliers

8 Bay Rd, unit 4:
Features: cross-lease, quarter share in 1467m², 174m² 2-level 3-bedroom unit, terrace, garden, internal-access garage
Outcome: sold for $945,000
Agent: Paula Kane

Isthmus west

Freemans Bay

53 Collingwood St, unit 10:
Features: 2 bedrooms, offstreet parking
Outgoings: body corp levy $2310/year
Outcome: sold for $893,500
Agents: Ryan Harding & Matt O’Rourke

Mt Albert

9 Harbutt Avenue:
Features: cross-lease, half share in 766m², 3 bedrooms, deck, offstreet parking
Outcome: sold for $1.25 million
Agent: Cheryl Martin

45A Morningside Drive:
Features: cross-lease, half share in 697m², 2 bedrooms, offstreet parking
Outcome: sold for $920,000
Agent: Matt O’Brien

692 New North Rd, unit 3:
Features: one-bedroom unit, offstreet parking
Outgoings: body corp levy $875/year
Outcome: passed in at $505,000
Agent: Tanzi Rose

Mt Eden

4G Dunbar Rd:
Features: 2 bedrooms
Outgoings: body corp levy $1417/year
Outcome: sold for $635,000
Agent: Julia Zhu

New Windsor

33 New Windsor Rd:
Features: 2906m² section, 4-bedroom house, consent awaited for subdivision into 5 lots
Outcome: passed in at $3.2 million
Agents: Cici Wang & Helen Lin

23 Peter Buck Rd, lot 2:
Features: section
Outcome: passed in at $722,000
Agent: Daisy Hu

North-west

Henderson

130 Bruce McLaren Rd, unit 1:
Features: cross-lease, half share in 1070m², 2 bedrooms, deck, carport
Outcome: sold for $515,000
Agent: Lilian Rolston

New Lynn

84 Portage Rd, unit 4:
Features: 80m², 2-bedroom unit, carport
Outgoings: body corp levy $1232/year
Outcome: no bid
Agents: Clara Wu & Shirley Zhong

Te Atatu South

2 & 4 Sherwood Avenue:
Features: 1624m² in 2 titles, each of 812m², 3-bedroom house on one, other section vacant
Outcome: sold for $1.845 million
Agents: Aken Yuan & Michelle Zhou

Attribution: Auctions.

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Strong price on Kingsland site, Scene 1 unit sells

A commercial site just off New North Rd at Kingsland sold for $4034/m² at Bayleys’ auction yesterday, and an apartment in the leasehold Scene 1 building sold above its declared reserve.

Image above: The Western Springs Rd building is in foreground, Eden Park at top of picture.

4 of the 7 apartments & townhouses were sold under the hammer.

Apartments

CBD

Learning Quarter

Westminster Court, 5 Parliament St, unit 1H:
Features: 2 bedrooms, 2 living spaces, high stud, storage locker, parking space
Outgoings: rates $2127/year including gst; body corp levy $7084/year, special levy $2751 for carpet replacement
Outcome: sold for $912,000
Agents: Diane Jackson & Julie Prince

Quay Park

Scene 1, at right of the 3 Scene apartment buildings overlooking the port.

Scene 1, at right of the 3 Scene apartment buildings overlooking the port.

Scene 1, 2 Beach Rd, unit 906:
Features: leasehold, 2 bedrooms, deck, storage locker, 2 parking spaces; remedial works identified, claim recovery to be assigned to buyer
Outgoings: rates $1810/year including gst; body corp levy $5297/year, ground rent $9343/year
Outcome: declared reserve was $149,000, sold for $183,000
Agent: Marcus Fava

Queen St

Guardian, 105 Queen St, unit 221:
Features: one bedroom
Outgoings: rates $1230/year including gst; body corp levy $3031/year
Outcome: sold for $280,000
Agents: Marcus Fava & Dave Hamlyn

Isthmus west

Freemans Bay

1A Picton St, unit 2:
Features: 3-level terrace, 2 bedrooms, 2 bathrooms, study, balconies, 2 parking spaces
Outgoings: body corp levy $1632/year
Outcome: passed in at $890,00
Agents: Luke McCaw

Herne Bay

19 Wallace St, unit 2:
Features: cross-lease, half share in 733m², 2-level 166m² townhouse, 4 bedrooms, balcony, double garage
Outcome: sold for $1.805 million
Agents: Luke McCaw

Sandringham

21 Locarno Avenue, unit 4:
Features: cross-lease, 1/8th share in 1095m², 2-bedroom unit, garage
Outcome: no bid, back on the market at $557,000
Agents: Bruce Andersen & Gay Daunt

North-east

Orewa

252 Hibiscus Coast Highway, unit 2:
Features: cross-lease, one-third share in 1012m², refurbished 200m² townhouse, 3 bedrooms, 2 bathrooms, double internal-access garage
Outcome: no bid
Agents: Lynnette Thomas & Simon Wilde

Commercial

Isthmus west

Kingsland

6 Western Springs Rd:
Features: 725m² site, 517m² floor area, parking for 6 cars
Rent: $69,609/year + gst, leases expires December 2017
Outcome: sold for $2.925 million at a 2.38% yield, $4034/m²
Agents: Scott Kirk & James Were

Attribution: Auction.

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