Archive | Grey Lynn

7 of 19 intensive homes sell at Barfoots

7 intensive properties sold out of 19 auctioned at Barfoot & Thompson’s city office over the last 3 days. They include apartments, suburban units, townhouses & homes on cross-leases.

At times the auctionroom was busy, more often quiet – not surprisingly so, given that the agency is putting through about the same number of properties in a week as it was pumping through in a day at the frenzied height of the market last year & briefly this year.

The properties listed below were auctioned between Tuesday afternoon & Thursday morning.

CBD

Learning Quarter

Silo, 23 Emily Place, unit 11H:
Features: 3-bedroom apartment, deck, 2 parking spaces
Outgoings: body corp levy $8677/year for the unit, $746/year for each parking space
Outcome: passed in at $900,000
Agents: Aaron Cook & Leo Shin

Argent Hall, 2 Eden Crescent, unit 14F:
Features: one-bedroom apartment, storage unit, parking space
Outgoings: body corp levy $6183/year
Outcome: passed in at $540,000, sold shortly after the auction for $557,000
Agents: Zoran Farac & Justin Choi

Isthmus east

Ellerslie

22 Marua Rd, unit 3:
Features: cross-lease, quarter share in 1214m², 4 bedrooms, double carport
Outcome: sold for $858,000
Agents: Alex Yang & Xia Wang

Mt Wellington

16 Bertrand Rd, unit 4:
Features: 2-bedroom unit, carport
Outcome: no bid
Agents: Robben Li & Will Liu

Newmarket

Queens Lodge, 176 Broadway, unit D505:
Features: one-bedroom apartment, secure parking space
Outgoings: body corp levy $1353/year for unit, $638/year for parking
Outcome: no bid, back on market at $580,000
Agent: Duncan Wu

Onehunga

90 Victoria St, unit 2:
Features: cross-lease, 1/9 share in 2056m², 2 bedrooms, garage
Outcome: no bid, back on market at $589,000
Agents: Leonie Stabler & Di Lynds

Parnell

4 Churton St, unit 4:
Features: 3-bedroom townhouse, 2 bathrooms, 2 parking spaces
Income assessment: appraisal $1350/week
Outcome: no bid, back on market at $1.775 million
Agent: Linda Galbraith

4 Churton St, unit 5:
Features: 3-bedroom townhouse, 2 bathrooms, 2 parking spaces
Income assessment: appraisal $1350/week
Outcome: no bid, back on market at $1.775 million
Agent: Linda Galbraith

4 Churton St, unit 7:
Features: 3-bedroom townhouse, 2 bathrooms, 2 parking spaces
Income assessment: appraisal $1350/week
Outcome: no bid, back on market at $1.775 million
Agent: Linda Galbraith

Isthmus west

Grey Lynn

23A Pollen St, unit 102:
Features: one-bedroom apartment, study nook, balcony, storage unit, secure parking space
Outgoings: body corp levy $3382/year
Outcome: sold for $741,000
Agents: George Damiris & Carl Madsen

Herne Bay

27 Wallace St, unit 1:
Features: one-bedroom apartment, parking space
Outgoings: body corp levy $3193/year
Outcome: passed in
Agents: Ashley Tait & Andre Bodde

Kingsland

52 Aitken Terrace, unit 1A:
Features: one-bedroom apartment, double garage
Outgoings: body corp levy $4743/year
Outcome: sold for $930,000
Agents: George Damiris & Carl Madsen

Mt Roskill

41A Marion Avenue:
Features: cross-lease, half share in 839m², 4 bedrooms, carport
Outcome: no bid
Agents: Denis Dias & Calvin Roche

25A Rogan St:
Features: cross-lease, half share in 813m², 3 bedrooms, 2 bathrooms, garage
Outcome: passed in
Agent: Tanzi Rose

Sandringham

32 Fowlds Avenue, unit 3:
Features: cross-lease, quarter share in 655m², 2-bedroom unit, garage
Outcome: sold for $687,000
Agent: Felix Bogdanovic

24 Morningside Drive, unit 4:
Features: 2-bedroom unit, garage
Outgoings: body corp levy $591/year
Outcome: sold for $639,000
Agent: Repeka Lelaulu

St Marys Bay

101 Shelly Beach Rd, unit 1:
Features: cross-lease, 1/6 share in 695m², 2-bedroom unit, deck, private courtyard
Outcome: passed in at $800,000
Agents: Carl & Rosanne Madsen

117 Shelly Beach Rd, unit 9:
Features: 3-bedroom terrace, 3 bathrooms, balcony, double garage
Outgoings: body corp levy $5418/year
Outcome: no bid
Agents: Carl & Rosanne Madsen

North-west

Henderson

85 Edmonton Rd, unit 18:
Features: 2-bedroom unit, offstreet parking
Income assessment: $360/week fixed until August
Outcome: sold for $489,000
Agent: Rosemary Giborees

Attribution: Auctions.

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Siena Terraces & Nova en Scotia apartments sell

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

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

CBD

Learning Quarter

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

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

Uptown

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

Isthmus west

Grey Lynn

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

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

Attribution: Auction.

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4 apartments sell at Ray White auction

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

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

CBD

Learning Quarter

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

Quay Park

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

Queen St

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

Victoria Quarter

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

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

Isthmus west

Grey Lynn

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

Attribution: Auction.

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Buyers baulk at Spencer price as remediation awaited

3 apartments were sold at Ray White City Apartments’ auction today but investors baulked at the asking price on a unit in the Spencer on Byron in Takapuna (pictured), where a remediation settlement has been reached but remedial works haven’t begun.

The owner was prepared to accept $470,000, but bidding stopped $40,000 short.

CBD

Hobson St

H47, 47 Hobson St, unit 1209:
Features: 80m², 2 bedrooms, storage locker, parking space
Outgoings: rates $1760/year including gst; body corp levy $6091/year
Income assessment: $750-800/week furnished
Outcome: sold for $666,000
Agents: May Ma & Mark Li

Altitude, 34 Kingston St, unit 9A (corner of Hobson St):
Features: 37m², 2 bedrooms
Outgoings: rates $1126/year including gst; body corp levy $3917/year
Income assessment: $440-460/week
Outcome: sold for $373,000
Agents: Victor Liu

Isthmus west

Grey Lynn

Mediterranean, 10 Crummer Rd, unit 1G:
Features: 55m², 2 bedrooms, parking space
Outgoings: rates $1245/year including gst; body corp levy $2885/year
Income assessment: $/week
Outcome: sold for $351,000
Agents: Susanne Bussell

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 209:
Features: 50m², one bedroom, parking space
Outgoings: rates $1144/year including gst; body corp levy $3218/year; vendor to pay $10,000 special remediation levy and unit to be sold on “as is where is” basis; this unit’s share of remedial settlement funds $66,701.94
Income assessment: $570/week current
Outcome: passed in at $430,000
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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5 apartments sell at Bayleys auction

5 of the 8 apartments & suburban intensive units auction at Bayleys on Wednesday were sold under the hammer. Another apartment on the auction list was sold prior.

CBD

Albert St

Prince Albert, 41 Albert St, unit 4E:
Features: 121m², 2-bedroom split-level apartment, 2 bathrooms, deck, balcony
Outgoings: rates $2064/year including gst; body corp levy $13,628/year
Outcome: sold prior for $775,000
Agents: Diane Jackson & Julie Prince

Learning Quarter

Westminster Court, 5 Parliament St, unit GB:
Features: fully furnished one-bedroom character apartment, high stud, storage locker, secure parking space
Outgoings: rates $1595/year including gst; body corp levy $4021/year + special one-off levy of $1562
Outcome: sold for $770,000
Agents: Julie Prince & Diane Jackson

Uptown

Scotia Tower, 8 Scotia Place, unit 8B:
Features: fully furnished one-bedroom apartment
Outgoings: body corp levy $3286/year
Income assessment: $557/week current
Outcome: sold for $112,000
Agent: Marcus Fava

Isthmus east

Parnell

Aero, 27 Cheshire St, unit 15:
Features: m², double-glazed 2-bedroom apartment, high stud, secure basement parking space
Outgoings: body corp levy $5203/year
Outcome: passed in
Agent: Chris Reeves

Remuera

721 Remuera Rd:
Features: cross-lease, 1/7 share in 1447m², 3-bedroom duplex, double garage
Outcome: sold for $810,000
Agent: Murray Wallace

St Heliers

66 St Heliers Bay Rd, unit 1:
Features: about 190m², 3-bedroom, 2-bathroom elevated garden apartment, lift, double internal garage
Outcome: passed in
Agents: Murray Wallace & Hamish McKay

Isthmus west

Eden Terrace

2H Diamond St:
Features: refurbished 2-bedroom terrace, 2 parking spaces
Outgoings: rates $1628/year including gst; body corp levy $1931/year
Outcome: sold for $580,000
Agent: Blair Haddow

Grey Lynn

19 Surrey Crescent, unit 204:
Features: double-glazed 2-bedroom apartment, 2 bathrooms, 2 secure basement parking spaces, 2 storage lockers
Outgoings: rates $2170/year including gst; body corp levy $6239/year
Outcome: passed in
Agent: Blair Haddow

Sandringham

34 Watea Rd, unit 3:
Features: cross-lease, 1/8 share in 1227m², 2-bedroom unit, garage
Outcome: sold for $652,000
Agents: Summer Sun & Kalala Lavea

Attribution: Auction.

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Mackelvie St building sells at nearly $7300/m²

Wilson Hurst agents have completed the sale of a Mackelvie St warehouse & showroom in Grey Lynn on a very low yield.

Isthmus west

Grey Lynn

49 Mackelvie St:
Features: 480m² mixed use site, comprising of 420m² of building being a mix of warehouse, showroom & offices leased to Wave Images Ltd (trading as Photogear); the property has a development clause
Rent: $112,500/year net + gst
Outcome: sold for $3.5 million + gst at a 3.21% yield, land price $7292/m²
Agents: Everett Jaura, Paul Kinghan & Jack Hall

Attribution: Agency release.

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Grey Lynn retail property sells

A Grey Lynn property containing 4 shops plus upstairs space was sold under the hammer at Barfoot & Thompson’s city commercial auction today. A Newmarket shop was passed in.

Isthmus east

Newmarket

33D Remuera Rd:
Features: 82m² shop
Rent: $38,250/year net + gst, lease up for renewal in 12 months
Outcome: passed in at $790,000
Agents: Kim Loo & Rex Fowler

Isthmus west

Grey Lynn

596-602 Great North Rd:
Features: 488m² section, 357m² floor area on 2 levels, 4 shops + upstairs accommodation or office
Outcome: sold for $2.38 million
Agents: Chris Peterson

Attribution: Auction.

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City Sales sells commercial unit & apartment at auction

Apartment specialist City Sales was in the unusual position of taking a commercial unit to auction yesterday, and sold it after strong bidding.

The unit is at Victoria Square, in the cbd fringe commercial district down towards Victoria Park.

Back on the agency’s conventional side, it sold a Harvard apartment on Hobson St but didn’t attract a bid on the other apartment on offer, in Grey Lynn.

Apartments

CBD

Victoria Quarter

Harvard, 147 Hobson St, unit 3C:
Features: 37m², 2 bedrooms
Outgoings: rates $1101/year including gst; body corp levy $3499/year after 10% discount
Income assessment: over $500/week
Outcome: sold for $353,000
Agents: Steve Kirk & Habeeb Urrahman

Isthmus west

Grey Lynn

15 Scanlan St, unit B1:
Features: 100m², 2 bedrooms, deck, double garage
Outgoings: rates $2096/year including gst; body corp levy $3243/year
Outcome: no bid, back on market at $789,000
Agents: Lucy Piatov & Chris Bell

Commercial

CBD

Victoria Quarter

Victoria Square, 196 Victoria St West, unit 1:
Features: 60m² commercial unit occupied by a nail bar, parking space
Outgoings paid by tenant: rates $3728/year including gst; body corp levy $1879/year
Income assessment: $29,250/year net + gst
Outcome: sold for $450,000 + gst
Agent: Tom Faye

Attribution: Agency.

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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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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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