Archive | Kingsland

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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3 central apartments sell

The 3 central city apartments sold under the hammer at Ray White City Apartments’ auction yesterday were a mix – a luxury residence in the Precinct (pictured), high above Lorne St, a leasehold unit in Q Central at the top of Queen St, and a studio in the Fiore on Hobson St. In contrast to the competition for them, a unit in Kingsland attracted only one bid.

CBD

Lorne St

Precinct Residences, 6 Lorne St, unit 801:
Features: 140m², 3 bedrooms, 2 bathrooms, parking space
Outgoings: rates $2241/year including gst; body corp levy $7669/year
Outcome: sold for $1.325 million
Agents: Tanya Kwasza & Marie Graham

Uptown

Q Central, 54 Liverpool St, unit 7B:
Features: leasehold, 59m², 2 bedrooms
Outgoings: rates $1582/year including gst; body corp levy $3549/year, ground rent $7642/year
Income assessment: $550-580/week
Outcome: sold for $125,000
Agents: Ron Yang, Damian Piggin & Daniel Horrobin

Victoria Quarter

Fiore on Hobson, 152 Hobson St, unit 204:
Features: 30m² fully furnished studio, 5m² balcony, parking space
Outgoings: rates $1240/year including gst; body corp levy $2867/year
Income assessment: $420-460/week furnished; parking space currently rented at $60/week
Outcome: sold for $360,000
Agents: Mitch Agnew & Krister Samuel

Isthmus west

Kingsland

9 Don Croot St, unit 1:
Features: 48m², part-furnished 2 bedrooms, parking space
Outgoings: rates $1349/year including gst; body corp levy $2007/year
Income assessment: $480-520/week
Outcome: passed in after one bid at $450,000 & vendor bid at $500,000
Agents: Mitch Agnew & Ryan Bridgman

Attribution: Auction.

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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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The $1 million property, and the intensive auction results

The $1 million property – the average value in Auckland – moves around. It used to be in suburbs like Remuera, but that’s $2 million territory now, even in some cases for a cross-lease with negligible land.

Yesterday, at Barfoot & Thompson’s large city residential auction, the $1 million property was in the western isthmus suburb of Avondale, between the back fence of the racecourse and the suburb’s business area on Great North Rd, and it wasn’t ultra-flash. An old kauri villa on a 632m² section, 3 bedrooms, a carport, “a do-up” according to the agent’s promotion, and it sold under the hammer for exactly $1 million.

In these auction columns I note properties which are development prospects, but the house on Elm St isn’t one of those. Nor are most of the properties listed below, largely because 19 of the 31 are cross-leased – the intensification already done, resetting the land price as a consequence and presenting a barrier to real intensification that would be more than filling in backyards with a second dwelling.

Barfoot & Thompson ran 2 residential auctions in 2 rooms at its city office yesterday – back to the heyday of listings, but not of sales. All up, the 4 auctions put 70 homes before buyers, with another 6 sold prior.

27 were sold under the hammer for a 39% clearance rate, or 43% counting the sold priors, and 17 of the auctionroom sales were of intensive properties – apartments, suburban units or on cross-leased land (another couple were development prospects). From an intensive list of 31 properties (the list below), that’s a clearance rate of 55% (I’ve added one since yesterday, reducing the clearance rate from 57%). Results from the intensive offering:

CBD

Learning Quarter

Oxford, 13 Mount St, unit 5K & parking unit 1Q:
Features: 2-bedroom apartment, parking space
Outgoings: body corp levy $4234/year
Outcome: no bid, back on market at $590,000
Agent: Duncan Wu

Quay Park

QuBA, 2 Tapora St, unit 425:
Features: leasehold, expiring 31 July 2046, one bedroom, secure parking space
Income assessment: $490/week current
Outcome: no bid, back on market at $290,000
Agents: Jill Jackson & Emma John

Isthmus east

Ellerslie

126 Marua Rd, unit 4:
Features: cross-lease, 1/6 share in 1398m², 2-bedroom unit, carport
Outcome: sold for $650,000
Agent: Steve Hood

Epsom

38 Epsom Avenue, unit 2B:
Features: 2-bedroom unit, covered parking
Outgoings: body corp levy $3201/year
Outcome: no bid
Agent: Ricky Yap

22 Pah Rd, unit 5:
Features: cross-lease, 1/5 share in 1290m², 2-bedroom unit, study, basement, garage
Outcome: sold for $805,000
Agent: Dee Brennan

10 Penrhyn Rd:
Features: cross-lease, half share in 1271m², 4 bedrooms, double internal-access garage
Outcome: sold for $1.975 million
Agents: Diana Buczkowski & Peter West

11 Woodhall Rd, unit 2:
Features: cross-lease, 1/6 share in 1474m², 2-level 2-bedroom townhouse, study, garage
Outcome: sold for $1.205 million
Agent: Dee Brennan

Glendowie

321 Riddell Rd:
Features: cross-lease, 1/6 share in 2036m², 3 bedrooms + sleepout, double garage
Outcome: passed in
Agents: Grant & Moira Marshall

Greenlane

24 & 26 Garland Rd:
Features: 2 homes on 1705m², one of one bedroom + study and the other of 3 bedrooms
Outcome: passed in
Agents: John Zhang & Louissa Bao

11 Tawera Rd, unit 9:
Features: cross-lease, 1/21 share in 2756m², 2-bedroom unit
Outcome: no bid
Agents: Danny Upton & James Yu

Meadowbank

25A Fancourt St:
Features: cross-lease, half share in 860m², 3 bedrooms,
Outcome: no bid
Agent: Neno Radinovich

Mission Bay

Bay Terraces, 47 Tamaki Drive, unit 4:
Features: 123m², 2-bedroom apartment, 2 bathrooms, deck, 2 secure parking spaces
Outgoings: body corp levy $12,028/year
Outcome: passed in, back on market at $2.2 million
Agents: Amanda Zhou & Yuyu Cao

Mt Wellington

24 Bailey Rd, unit 1:
Features: cross-lease, 1/6 share in 1501m², 2 bedrooms, carport
Outcome: sold for $550,000
Agent: Karin de Leeuw

Onehunga

93J Mays Rd:
Features: 80m², 2 levels, 2-bedroom terrace, 2 parking spaces
Outgoings: body corp levy $579/year, + special levy of $53,685, estimated to be 40% of total funding for remediation, recently reclad
Outcome: sold for $573,000
Agents: Sue Ma & Hattie Huo

Remuera

1 Mainston Rd:
Features: cross-lease, 1/6 share in 1948m², 3 bedrooms, 2 bathrooms, study, 2 parking spaces
Outcome: no bid
Agent: Steve Hood

34B Monteith Crescent, unit C:
Features: 4 bedrooms, 2 bathrooms, 2 parking spaces
Outgoings: body corp levy $3133/year
Outcome: no bid
Agents: Lily Zhang & Jacquie Jia

10A Muir Rd:
Features: cross-lease, half share in 814m², 3 bedrooms, double garage
Outcome: sold for $1.02 million
Agents: Julie Fitzpatrick & Kathy Bower

St Heliers

17 Ashwell St, units 1, 2 & 3:
Features: cross-lease, 3 1/3 shares in 657m², 3 units, total 5 bedrooms, 3 parking spaces
Outcome: sold for $2.36 million
Agents: Thomas & Helen Weber

26A McArthur Avenue:
Features: 317m² + 1/5 share in 578m², 313m² 5 bedroom terrace, 3 bathrooms, 2 parking spaces
Outcome: sold for $1.5 million
Agent: Andy Dye

41 Sylvia Rd, unit 2:
Features: cross-lease, quarter share in 1199m², 4 bedrooms
Outcome: no bid
Agent: Kelly Midwood

St Johns

2 Strong St, unit 3:
Features: cross-lease, 1/3 share in 619m², 2-bedroom apartment, carport
Outcome: sold for $626,000
Agent: Helen McVicar

Isthmus west

Kingsland

4F Don Croot St:
Features: 60m², one-bedroom unit, storage shed, offstreet parking
Outcome: sold for $627,000
Agents: Matt O’Brien & Anah Jordan

Mt Eden

45 Edenvale Crescent:
Features: villa in 3 flats, 2 of one bedroom & one of 2 bedrooms,
Outcome: sold for $1.545 million
Agent: Kathy Bower

Mt Roskill

61A Boyce Avenue, unit 2:
Features: cross-lease, half share in 928m², 3-bedroom duplex, 2 parking spaces
Outcome: no bid
Agents: David Chen & Joey Zhuang

1193A Dominion Rd:
Features: cross-lease, half share in 809m², 3 bedrooms, garage
Outcome: passed in
Agent: Kelly Zhang

78 Haycock Avenue, unit 2:
Features: cross-lease, half share in 685m², 2-bedroom unit, garage
Outcome: sold for $655,000
Agents: William & Simon MacLean

639 & 2/641 Richardson Rd (listed as Avenue):
Features: one 716m² section fee simple and the other on cross-lease, half share in 867m², 2 3-bedroom homes
Outcome: no bid together or separately
Agent: Sunny Yang

Pt Chevalier

5 Kanuka St:
Features: cross-lease, half share in 710m², 3 bedrooms, 2 bathrooms, sleepout, carport
Outcome: passed in
Agents: Andrew Gallagher & Matt O’Rourke

Waterview

6A Alverston St:
Features: cross-lease, half share in 1060m², 4 bedrooms, double internal-access garage
Outcome: sold for $1.216 million
Agents: Stephen Shin & Barry He

North-west

Henderson

15 Universal Drive:
Features: 2 homes on 1158m², one of 3 bedrooms, the other of 2 bedrooms
Outcome: no bid
Agents: George Fong & Maggie Xue

South

Pakuranga

1 Greenhill Crescent, unit 1:
Features: cross-lease, half share in 1060m², 3 bedrooms, garage
Outcome: sold for $934,000
Agents: Dong & Lucca Liu

Attribution: Auctions.

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9 suburban units, cross-leases & development sites sell

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

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

Isthmus east

Greenlane

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

Onehunga

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

One Tree Hill

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

Otahuhu

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

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

Point England

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

Isthmus west

Avondale

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

Kingsland

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

Mt Albert

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

Mt Eden

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

North-west

New Lynn

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

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

South

Pakuranga

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

Attribution: Auctions.

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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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Updated: 11 sales from Bayleys’ Total Property portfolio, plus 1

Published 3 June 2016, updated 12 June 2016:
10 properties in Bayleys’ Total Property portfolio were sold at auction on Wednesday and one prior, including all 4 units in a Huapai retail development built in 2002 and leaving 8 properties still on the market.

Update: A Rosedale unit, at 11 Paul Matthews Rd, sold shortly after auction for $1.27 million.

Isthmus east

Panmure

125 Queens Rd:
Features: 410m² standalone retail & office building, former ASB Bank, part of first floor tenanted, more intensively zoned under proposed unitary plan
Rent: potential for $99,555/year + gst
Outcome: only bid was vendor bid at $1.3 million, passed in
Agents: Michael Nees & James Chan

Isthmus west

Kingsland

394 New North Rd:
Features: 673m² site zoned mixed use, anchor panelbeater tenant has been in occupation for over 20 years, additional income from billboard & 5-bedroom house
Rent: $140,678/year net + gst (less outgoings shortfall of $3649 from residential tenancy)
Outcome: sold for $2.4 million at a 5.7% yield
Agents: Tony Chaudhary & Janak Darji

Mt Eden

589-597 Mt Eden Rd (pictured above):
Features: 680m² corner site with enhanced developed potential under proposed unitary plan; neighbourhood centre zoning; 497m² of buildings comprising a single-level, 1920s retail building, containing a restaurant & closed former antique shop, and an adjoining 2-level building on Kingsview Rd with a yoga studio on ground floor & flat above
Rent: $63,363 /year net + gst (about 40% leased)
Outcome: sold for $3.61 million
Agent: Nigel McNeill, Colin McKenna & Tony Chaudhary

North-east

Albany

100 Don McKinnon Drive, unit 14:
Features: 267m² retail premises in Northbridge Plaza, 2 shops on short-term leases
Rent: $129,157/year net + gst
Outcome: sold for $1.75 million at a 7.38% yield
Agents: Anna Radkevich & Ranjan Unka

Orewa

8 Moana Avenue, unit G:
Features: 140m² retail in Westpac Plaza, option to split into 2 tenancies
Outcome: passed in at $290,000
Agents: Mustan Bagasra

Nautilus, 11 Tamariki Drive, unit 4:
Features: 85m² shop, 3-year lease, one 3-year right of renewal
Outcome: passed in $505,000
Agents: Paul Dixon & Meredith Graham

Rosedale

32 Constellation Drive, unit 4:
Features: 251m² retail premises, 3 tenants – a bakery, nutritionist & Bruce Lee Sushi – on 6- to 10-year leases from 2013, in fully leased 8-unit complex on corner of Atlas Place
Rent: $129,157/year net + gst
Outcome: sold for $2.54 million at 5.08% yield
Agents: Anna Radkevich & Ranjan Unka

Updated: 11 Paul Matthews Rd, unit 2:
Features: 524m², high stud warehouse, air-conditioned offices, in 5-unit development, 11 parking spaces
Outcome: passed in at $1.15 million, sold post-auction for $1.27 million
Agents: Matt Mimmack & James Kidd

27-29 William Pickering Drive, unit E3:
Features: 156m² ground-floor commercial space in business park, new 3-year lease term with right of renewal, 4 parking spaces
Rent: $42,688/year net + gst + outgoings
Outcome: no bid
Agents: Tonia Robertson & Chris White

North-west

Henderson

240, 240A & 240B Great North Rd:
Features: 491m² site at Te Atatu Rd roundabout, 270m² floor area, 3 shops on separate titles, vacant restaurant has double frontage & commercial kitchen
Outcome: passed in $725,000
Agents: Oscar Kuang & James Chan

Huapai

329A Main Rd, unit 2:
Features: 112m² retail unit leased to the Wine Circle until July 2018, one 6-year right of renewal
Rent: $27,903/year net + gst
Outcome: sold for $513,000 at a 5.43% yield
Agents: Stuart Bode, Terry Jones & Terry Kim

329A Main Rd, units 3 & 4:
Features: 200m² outlet leased to Pizza & Pasta until November 2016, 4 3-year rights of renewal
Rent: $26,000/year net + gst, increases to $31,000/year in November if tenant renews
Outcome: sold for $616,000 at a 4.22% yield on current rent
Agents: Stuart Bode & Terry Jones

329A Main Rd, unit 7:
Features: 95m² unit leased to Blue Chip takeaways until January 2021, one 6-year right of renewal
Rent: $30,600/year net + gst
Outcome: sold for $616,000 at a 4.97% yield
Agents: Stuart Bode, Terry Jones & Tony Chaudhary

329A Main Rd, unit 8:
Features: 95m² unit leased to The Gallery Cafe until February 2021, one 6-year right of renewal
Rent: $29,800/year net + gst
Outcome: sold for $540,000 at a 5.52% yield
Agents: Stuart Bode, Terry Jones & Tony Chaudhary

South

East Tamaki

62-64 Allens Rd, East Tamaki.

62-64 Allens Rd, East Tamaki.

61-62 Allens Rd:
Features: 7500m² business 5-zoned site, 3260m² industrial building – 2980m² medium stud warehouse, 4-roller door access, 280m² of office & amenities; 4-year lease to current tenant expires in August 2018 with no right of renewal
Rent: $248,368 /year net + gst
Outcome: sold for $5.1 million at 4.87% yield
Agents: Dave Stanley & John Bolton

451 Ti Rakau Drive, unit I:
Features: 434m² bulk retail unit in The Hub, 6-year lease from March 2016 to The Bed People, one of 6 outlets in Auckland & Waikato
Rent: $148,000/year net + gst, fixed rental increases of CPI + 2%
Outcome: sold for $2.68 million at a 5.52% yield
Agents: Rosemary Wakeman & Geoff Wyatt

Mangere

1E The Concourse:
Features: 715m² on first floor, fully licensed gaming bar & lounge, new 5-year lease, seismic rating 75% of new building standard
Rent: $111,939/year net + gst, rent reviews 2-yearly to higher of CPI + 5% or market
Outcome: no bid
Agents: Janak Darji & Tony Chaudhary

Papakura

26 Elliot St:
Features: 808m² site on a main arterial road that connects the Southern Motorway & the Papakura cbd, 2 industrial units totalling 480m² from which Hugh Munro Panelbeaters has been operating for 30 years
Rent: $55,157/year net + gst
Outcome: sold for $1,033,000 at a 5.34% yield.
Agents: Shane Snijder & Peter Migonouff

Pukekohe

3 West St:
Features: 397m², 2-storey corner building at top end of main street, 3 tenancies, 34% new building standard
Rent: $70,606/year + gst + outgoings
Outcome: passed in $1.04 million
Agents: Graeme Moore

Attribution: Auction.

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Kingsland site & 2 intensive residentials sell at Bayleys auction

A commercial offering in Kingsland (pictured) – 2 adjoining buildings on separate titles – sold at a 5% yield at Bayleys’ auction yesterday.

A suburban unit & a house on a cross-lease also sold under the hammer, leaving unsold an apartment with remediation to be done, another large apartment & a townhouse.

Commercial

Isthmus west

Kingsland

332 & 334 New North Rd:
Features: 592m² in 2 titles zoned mixed use, 2 underdeveloped sites of 326m² & 266m², floor area 281.4m²
Rent: $129,420/year
Outcome: sold for $2.575 million at a 5% yield
Agents: James Were & Phil Haydock

Intensive residential

CBD

Uptown

8 Scotia Place, unit 2F:
Features: one bedroom
Outgoings: body corp levy $4240/year ($2610 standard levy + $1630, last of second remediation levy; report on remediation costs has 2 estimates, $4 million & $9.7 million
Income assessment: $300/week current, to rise to $350/week, appraisal $380-400/week
Outcome: passed in at $96,000
Agent: Marcus Fava

Isthmus east

Epsom

57B Epsom Avenue:
Features: cross-lease, one-third share in 1705m², 178m² house, 4 bedrooms, 2 bathrooms, double garage + offstreet parking
Outgoings: rates $4056/year including gst
Outcome: sold for $1.72 million
Agent: Blair Haddow

Greenlane

29A Tawera Rd:
Features: 2-bedroom unit, conservatory, parking space
Outcome: sold for $1.172 million
Agent: David Sharratt

Isthmus west

Grey Lynn

The Surrey, 19 Surrey Crescent, unit 102:
Features: 125m², 2-bedroom townhouse, 2 bathrooms, 2 parking spaces, 2 storage lockers
Outgoings: rates $2487/year including gst; body corp levy $8197/year
Outcome: no bid
Agents: Blair Haddow

Herne Bay

Clytha Court, 55 Sentinel Rd, unit 4:
Features: 257m² including terrace, single-level penthouse, 3 bedrooms, study, 2 bathrooms, double garage
Outgoings: body corp levy $15,465/year
Outcome: 2 vendor bids at $2.5 million & $2.6 million, passed in
Agents: Suzie Paine & Simon Smith

Attribution: Auction.

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Corrected: 7 suburban units sell

Published 19 May 2016; corrected 25 May 2016
Barfoot & Thompson agents sold 7 suburban apartments & units out of 11 auctioned on 18 May. The price for one of them, a one-bedroom apartment in Herne Bay, was incorrectly given as $1.89 million (that was the previous property on the auction list); the correct price was $696,000.

Isthmus east

Epsom

34 & 36 Buckley Rd:
Features: 1257m² section, resource & building consents granted for 3 2-storey units, each with 5 bedrooms, 4½ bathrooms – 2 on 400m² with units of 293m² & 289m², third unit of 265m² on 457m²
Outcome: passed in
Agent: Kevin He

Kohimarama

331 Kohimarama Rd, unit 1:
Features: cross-lease, half share in 1100m², 3-bedroom unit, 2 bathrooms, double carport, 4 offstreet parking spaces
Outcome: sold for $952,500
Agent: Peter Hutson

Mission Bay

105 Tamaki Drive, unit 2:
Features: refurbished 2-bedroom apartment across road from beach, offstreet parking, garden
Outcome: passed in
Agents: David & Angela Howie

Newmarket

118 Broadway, unit 38:
Features: 2-bedroom apartment, deck, 2 offstreet parking spaces
Outcome: sold for $880,000
Agents: Joanne Yu & Christine Wooding

Remuera

15 Liley Place, unit 1:
Features: 2-bedroom unit, carport
Outcome: sold for $736,000
Agent: Steve Hood

St Johns

30 Felton Mathew Avenue, unit 2:
Features: cross-lease, 2-bedroom unit, 2 bathrooms, balcony, double garage + 2 offstreet parking spaces
Outcome: sold for $977,000
Agent: Jane Chen

Isthmus west

Herne Bay

Corrected: 59 Sentinel Rd, unit 1:
Features: cross-lease, one 12th share in 1335m², furnished one-bedroom apartment, study, carport
Outcome: sold for $696,000; price was incorrectly written as $1.89 million
Agents: Jill Jackson & Emma John

Kingsland

25 Rossmay Terrace, unit 21:
Features: terraced townhouse, one bedroom, internal-access garage, deck, private courtyard
Outcome: no bid
Agent: Repeka Lelaulu

Mt Albert

15 Morning Star Place, unit 1C:
Features: 2-bedroom apartment
Outcome: no bid, back on market at $369,000
Agent: Nick Guan

North-west

New Lynn

11 Karaka St, unit 2:
Features: 2-bedroom unit, basement garage, storage
Outcome: sold for $600,000
Agent: Meg Jiang

60 Nikau St, unit 9:
Features: 80m², 2-bedroom duplex unit, internal-access garage, garden
Outcome: sold for $572,000
Agent: Anna Lechtinski

Attribution: Auctions.

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Small office buildings & under-developed site sell

6 commercial properties around the Auckland isthmus have been sold by Bayleys agents, along with a Colliers agent on one.

They include an underdeveloped holding on New North Rd in Kingsland, 4 are small office buildings and the other sale was of an office unit on Queen St.

CBD

Queen St

175 Queen St, unit Q:
Features: 416m2 office unit, parking space
Outcome: sold for $1.02 million with vacant possession
Agent: Phil Haydock

Isthmus east 

Epsom

27-29 Great South Rd:
Features: 2644m² site in 2 titles, dual frontage to Great South Rd & Ngaire Avenue, mixed-use zoning under the proposed unitary plan, office buildings totalling 1852m² with multiple tenancies, 426m² of vacant ground-floor space, 50 onsite parking spaces
Outcome: sold for $8,000,088 to an investor looking to develop the site longer term
Agents: Mike Adams, Laurie Bell & Sarah Liu

Grafton

117 Khyber Pass Rd:
Features: 1875m² site in mixed-use zone, 4-level commercial building, 2750m² of office space on 3 levels, 75 basement parking spaces; previously occupied by NZ Lotteries, the building has undergone a full shell upgrade including new carpets, suspended ceilings, lighting & services reconfiguration
Outcome: sold vacant for $10 million to an investor looking to lease it up
Agent: Paul Hain

Newmarket

5 Broadway:
Features: 819m² site, 778m² 2-level office building, 25 parking spaces, 2 leases in place until next March, one tenant has just moved from 421m² top level which is for lease
Rent: $283,132/year net + gst
Outcome: sold for $5.1 million at a 5.55% yield
Agent: Ben Wallace

Isthmus west

Freemans Bay

31 Spring St:
Features: 482m² site, 2-storey rectangular concrete commercial building comprising a full lower level of basement parking for 10 vehicles and 500m² of upper-level high stud modern office space, established tenant
Rent: $189,372/year net + gst
Outcome: sold for $3.5 million at a 5.4% yield
Agents: Scott Kirk & James Were (Bayleys) & Jonathan Lynch (Colliers)

Kingsland

326-328 New North Rd:
Features: 2202m² mixed-use underdeveloped landholding, 1754m² fully leased 2-level character office building, multiple creative tenancies located on a 1116m² title, parking for 40 cars on second 1086m² title
Rent: $530,894/year net + gst
Outcome: sold for $8,228,888 888 at a 6.45% yield
Agent: Alan Haydock

Attribution: Agency release.

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