Archive | Mt Albert

Hotel unit sells on low yield and Mission Bay church goes

A Portland Tower apartment on Queen St, in the Quest hotel pool, was sold by the mortgagee on a 4.2% yield at Bayleys’ auction today, and a Mission Bay church was also sold, future use unknown.

CBD

Queen St

Portland Tower, 62 Queen St, unit 14A:
Features: 31m², one-bedroom apartment on Quest hotel lease until 2030, balcony
Outgoings: rates $2440/year including gst
Income assessment: $12,000/year
Outcome: sold at ANZ Bank mortgagee auction for $286,500 at a 4.19% yield
Agents: Dave Hamlyn & Marcus Fava

Isthmus east

Mission Bay

69 Patteson Avenue:
Features: 1313m² section, Orakei Methodist church & hall, zone changing from residential 2B (one dwelling/600m²) to mixed housing suburban (minimum lot size 400m²)
Outcome: sold for $2.5 million at $1904/m² land
Agent: Alan Elliott

Isthmus west

Mt Albert

10 Counsel Terrace, unit 1:
Features: cross-lease, 1/3 share in 1050m², 3-bedroom townhouse, 2 bathrooms, conservatory, garage converted to fourth bedroom
Outcome: no bid
Agent: Angela Yang

Attribution: Auction.

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3 apartments & 2 suburban units sell at Barfoots

3 apartments were sold at Barfoot & Thompson’s city auctions yesterday out of 8 on offer, and 2 of the 4 suburban units were sold. The sales included a unit in City Gardens (pictured), where owners have succeeded in leaky building litigation but the work hasn’t been done yet.

A commercial office unit in Mt Wellington didn’t attract a bid.

CBD

Albert St

City Gardens, 76 Albert St, unit 19K:
Features: 42m², one bedroom, parking space
Outgoings: body corp levy $581/year; estimated remediation levy $24,735 on top of payment from litigation claim
Outcome: sold for $306,000
Agents: Sarah Garlick & Estee Zeng

Learning Quarter

Eden Hall, 3 Eden Crescent, unit 6:
Features: 90m², 2 bedrooms, garage
Outgoings: body corp levy $6294/year
Outcome: sold for $960,000
Agents: Liz Derbyshire & Leo Shin

Uptown

Avoka, 31 Day St, unit 4C:
Features: 81m², fully furnished one bedroom, parking space
Outgoings: body corp levy $7370/year
Outcome: no bid
Agents: Selina Zheng & Tommy Zhang

Chatham, 70 Pitt St, unit 506:
Features: 67m², 2 bedrooms, storage locker, parking available
Outgoings: body corp levy $4837/year
Outcome: passed in
Agents: Luke Shi & Alexander Kramarenko

Bianco off Queen, 8 White St, unit 9C:
Features: 54m², 2 bedrooms, balcony
Income assessment: not in hotel management, rent assessment $600/week
Outcome: auction postponed until Thursday 23 March
Agents: Annie Xu & Sean Zhang

Victoria Quarter

Grand Chancellor, 1 Hobson St, unit 603:
Features: 57m², one bedroom, parking space, storage locker
Outgoings: body corp levy $4592/year
Outcome: sold for $633,000
Agent: Aaron Cook

Grand Chancellor, 1 Hobson St, unit 704:
Features: 56m², fully furnished 2 bedrooms, storage locker
Outgoings: body corp levy $4169/year
Outcome: no bid, back on market at $595,000
Agent: Aaron Cook

Hobson Gardens, 196 Hobson St, unit 11B:
Features: 100m² sub-penthouse, 2 bedrooms, 2 bathrooms, enclosed balcony, 2 parking spaces
Outgoings: body corp levy $10,070/year, special levy set for further remedial works
Outcome: no bid, back on market at $868,000
Agent: Michele Ballinger

Regatta Court, 92 Nelson St, units A & B:
Features: 2 units on ground floor, no bedrooms or bathrooms, leased to hotel management
Outgoings: body corp levy $1615/year
Income assessment: $20,224.80/year net + gst
Outcome: passed in, back on market at $425,000
Agents: Wendy Feng & Jack Li

Isthmus east

Mt Wellington

6 Faber Avenue, unit 1:
Features: cross-lease, half share in 1168m², 2-bedroom duplex, deck, double garage & carport
Outcome: no bid
Agents: Samantha Chaudhry & Leo Perera

Panmure

68 Ireland Rd, unit 2:
Features: 3-bedroom unit, parking space
Outgoings: body corp levy $1268/year
Outcome: sold for $582,500
Agents: Mark Tung & Michelle Mi

Isthmus west

Mt Albert

17 Owairaka Avenue, unit 3:
Features: cross-lease, 1/3 share in 766m², 2-bedroom unit, garage
Outcome: sold for $735,000
Agent: Les Walbridge

North-west

New Lynn

11B Akehurst Avenue:
Features: cross-lease, 1/3 share in 1011m², 2-bedroom unit, deck, carport
Outcome: no bid
Agent: Ricky Fan

Commercial

Isthmus east

Mt Wellington

161 Marua Rd, unit 2:
Features: 113m², first-floor office & showroom, kitchen, storage, 3 parking spaces
Outcome: no bid
Agents: Mike Jensen

Attribution: Auctions.

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Boston Rd mix and Chambers & Station apartment sell

5 of 11 intensive residential properties have sold at Barfoot & Thompson’s city auctions over the last 2 days, including a mixed property in Grafton (pictured above) containing 2 apartments, office space, a warehouse & parking. It was sold under the hammer, up $920,000 from the starting price.

A new apartment in the Chambers & Station conversion in Mt Eden was also sold.

CBD

Uptown

Chatham, 70 Pitt St, unit 704:
Features: 70m², vacant fully furnished 2-bedroom sub-penthouse, 2 bathrooms, balcony
Outgoings: body corp levy $5351/year
Outcome: passed in at $600,000
Agents: Mike Campbell & Grant Elliott

Isthmus east

Grafton

31 Boston Rd:
Features: 151m² 4-bedroom apartment, mezzanine lounge, private courtyard; 112m² 2-bedroom apartment, balcony, nearing end of fixed-term lease at $600/week; 87m² 3-room office space was leased at $18,200/year gross including gst; 158m² warehouse, 7 offstreet parking spaces; total 530m²
Outcome: sold for $2.82 million
Agents: Ross & Joss Goodall

Parnell

300 Parnell Rd, unit 8:
Features: 3-bedroom terrace, deck & balcony, internal-access garage, reclad and has fresh code compliance certificate
Outcome: no bid
Agents: Jill Jackson & Emma John

Remuera

266 Victoria Avenue, unit 2:
Features: 4-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: sold for $2.2 million
Agent: Alex Baker

Isthmus west

Mt Albert

7 Amandale Avenue, unit 3:
Features: 2-bedroom unit, carport
Outcome: no bid
Agents: Jane Wang & Angela Qi

Mt Eden

111 Balmoral Rd, unit 2:
Features: cross-lease, 2-bedroom unit, courtyard, carport
Outcome: sold for $840,000
Agent: Nick Lyus

35 Reimers Avenue, unit 1:
Features: cross-lease, quarter share in 754m² across the street from Eden Park, 2-bedroom unit, carport
Income assessment: $515/week current
Outcome: passed in at $500,000
Agent: Robert Thompson

Chambers & Station, 64 Valley Rd, unit 3:

Chambers & Station on Valley Rd, Mt Eden.

Features: one-bedroom apartment in the former Mt Eden Borough Council chambers built in 1912 and neighbouring fire station built in 1925, 3.7m stud height, 2 living areas, storage, basement parking space
Outcome: sold for $1.208 million
Agent: Julie Fitzpatrick

St Marys Bay

72B Shelly Beach Rd:
Features: 181m², 3-bedroom apartment, 2 bathrooms, internal lift, deck, garden, internal-access garage
Outcome: no bid
Agents: Keith Simpson

117 Shelly Beach Rd, unit 1:
Features: 4-bedroom townhouse, 2 bathrooms, deck, 2 parking spaces, pool
Outgoings: body corp levy $7119/year
Outcome: passed in
Agents: Carl & Roseanne Madsen

Three Kings

19 Hayr Rd, unit 2:
Features: 2-bedroom unit, garage
Outcome: sold for $700,000
Agents: Margaret Johnston & Jane Chen

Attribution: Auctions.

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Sales a rarity at final Barfoots auctions for year

A Bucklands Beach house on a cross-lease sold at Barfoot & Thompson’s city auction yesterday, but 2 others in Epsom & Mt Albert were passed in. Both city apartments offered this morning were also passed in, and at this afternoon’s final auction session for the year 2 houses were sold and the other 7 on the list were passed in.

CBD

Commerce & Gore

HarbourCity, 16 Gore St, unit 8C:
Features: one-bedroom apartment
Outgoings: body corp levy $1969/year, additional levy of $1984 for building defects claim; claim will be assigned to buyer
Outcome: passed in at $190,000
Agents: Stephen Shin & Rhys Chen

Victoria St

QV Building, 6 Victoria St East, unit 3J:
Features: 77m², 2-bedroom corner apartment, high stud
Outgoings: body corp levy $6328/year
Outcome: passed in at $500,000
Agents: Stephen Shin & Zoran Farac

Isthmus east

Epsom

14B Liverpool St:
Features: cross-lease, half share in 968m², 2 bedrooms, double carport
Outcome: passed in, back on the market at $928,000
Agent: Robert Thompson

Pt England

39 & 39A Waddell Avenue:
Features: 812m² in 2 titles, 2-bedroom house & 2-bedroom unit, each with a garage, in terraced housing & apartments zone under unitary plan
Outcome: withdrawn from auction, back on the market at $1.175 million
Agent: Fae Bryant

Isthmus west

Mt Albert

21 Ruarangi Rd, unit 14:
Features: cross-lease, 1/6 share in 1280m², 2-bedroom unit, carport, storage
Outcome: passed in, back on the market at $668,000
Agents: Christine & Mark Wooding

South

Bucklands Beach

33 Hattaway Avenue, unit 1:
Features: cross-lease, half share in 874m², 3 bedrooms
Outcome: sold for $910,000
Agent: Roger Franklin

Attribution: Auctions.

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11 intensive residential properties sell at Barfoot auctions

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

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

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

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

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

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

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

CBD

Uptown

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

Isthmus east

Ellerslie

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

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

Epsom

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

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

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

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

Meadowbank

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

Mt Wellington

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

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

Panmure

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

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

Remuera

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

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

Royal Oak

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

St Heliers

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

Isthmus west

Blockhouse Bay

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

Mt Albert

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

Mt Eden

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

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

Sandringham

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

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

Waterview

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

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

Westmere

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

North-east

Schnapper Rock

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

North-west

Henderson

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

Kelston

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

New Lynn

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

Ranui

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

South

Manurewa

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

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

Attribution: Auctions.

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Auction clearance falls as no-bids rise

Auction results have been mixed in the apartment & residential markets in recent weeks, as Barfoot & Thompson’s auction sessions at its city office demonstrated this week.

In 3 sessions on Wednesday-Thursday, the agency offered 59 homes, with another 10 listings sold pre-auction. Including the presales, the 28 sales represented a 41% clearance.

In the apartments auction yesterday (link below to separate story), 2 of the 8 listed sold under the hammer and another 2 prior, for a 50% clearance.

At the 3 residential sessions, 17 of the properties offered were what I classify as intensive, including 13 cross-leases. The others were 2 suburban units not on cross-lease, an apartment & a townhouse

Of the 17, 5 were sold and 12 were passed in, including 7 which received no bid.

The process has slowed right down as vendors adjust to something approaching normal, where bidding no longer starts at an assumed million and no longer carries on skyward. As well as more completions than would be the case if the hesitancy resulted in quick passing in, I understand there’s also been a transfer of sales from the auction room to post-auction negotiation.

There’s also a big reduction in stock being taken to auction, the number of Chinese investors has fallen away and those who do turn up have been sitting on their hands as much as anybody else.

Below, the intensive market results:

Isthmus east

Ellerslie

20 Laud Avenue:
Features: cross-lease, half share in 997m², 2 bedrooms, deck, garden, double carport
Outcome: sold for $885,000
Agents: Di Martens

Epsom

42 Cornwall Park Avenue:
Features: cross-lease, half share in 1013m², 3 bedrooms, garage
Outcome: passed in
Agent: Ling Zhu

11 Tuperiri Rd, unit 3:
Features: cross-lease, half share in 971m², m², 4 bedrooms, 2 bathrooms, courtyard, double internal-access garage
Outcome: passed in
Agents: Leon Bao

Kohimarama

19A John Rymer Place:
Features: cross-lease, half share in 824m², 4 bedrooms, double internal-access garage
Outcome: no bid
Agent: Kelly Midwood

17A Rawhiritoa Rd:
Features: cross-lease, half share in 700m², 3 bedrooms, double internal-access garage
Outcome: no bid
Agents: Russell Birkinshaw & Serrine Chen

1 Taranaki Rd, unit 3:
Features: cross-lease, 1/3 share in 728m², 2-bedroom unit, garden, carport
Outcome: sold for $1.015 million
Agent: Teresa Weiss

Mt Wellington

113 Panama Rd, unit 6:
Features: cross-lease, 1/7 in 1982m², 2-bedroom unit, courtyard, internal-access garage
Outcome: passed in
Agents: Sally Giles

Otahuhu

4 Albert St:
Features: cross-lease, 1/5 in 1223m², 3 bedrooms, offstreet parking
Outcome: passed in, back on the market at $598,000
Agents: Michael Zhang & Kelly Fan

Panmure

66 Pilkington Rd, unit 3:
Features: 3-bedroom unit, deck, garden, rumpus/storage, offstreet parking
Outgoings: body corp levy nil
Outcome: no bid
Agents: Margaret Johnston & Phyllis Brooks

Remuera

32 Lochiel Rd, unit 2:
Features: cross-lease, quarter share in 1332m², 2 bedrooms, courtyard, garden
Outcome: sold for $1.25 million
Agent: Sara-Jayne Kingston

Isthmus west

Mt Albert

9 Richardson Rd, unit 5:
Features: cross-lease, 1/3 share in 2047m², 4 bedrooms, internal-access garage
Outcome: sold for $917,000
Agents: Christine & Mark Wooding

Mt Roskill

21A Graham Bell Avenue:
Features: cross-lease, half share in 809m², 3 bedrooms, deck, double internal-access garage
Outcome: passed in
Agents: Daisy Hu & Yogesh Suri

16B Penney Avenue, unit 2:
Features: cross-lease, 1/3 share in 1077m², 120m² 2-bedroom unit, conservatory, garage
Outcome: no bid
Agent: Dermot Kelly

Ponsonby

22 Prosford St, unit 1:
Features: one-bedroom apartment, patio, storage
Outgoings: body corp levy $5166/year
Outcome: sold for $731,000
Agent: André Boddé

Pt Chevalier

12 Walmer Rd:
Features: cross-lease, half share in 695m², 3 bedrooms, carport, storage
Outcome: no bid
Agents: Matt O’Rourke & Ryan Harding

Three Kings

531 Mt Albert Rd, unit 2:
Features: 2-bedroom unit, storage, internal-access garage
Outgoings: body corp levy $792/year
Outcome: passed in
Agent: Zaki Murumkar

North-west

New Lynn

14 Ambrico Place, unit 5:
Features: 110m², 3-bedroom townhouse, 2 bathrooms, internal-access garage
Outgoings: body corp levy $2199/year
Outcome: no bid
Agents: Aken Yuan & Michelle Zhou

Apartments story today: Converted warehouse sells post-auction

Attribution: Auctions.

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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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Grey Lynn shops & 3 apartments sell

A small retail building in Grey Lynn (outlined in picture), with 2 newly refurbished vacant apartments upstairs, was sold under the hammer at Barfoot & Thompson’s commercial & apartments auction this morning.

The other commercial unit was passed in without a bid, and 3 of the 4 apartments were sold.

Apartments

CBD

Queen St

Kiwi on Queen, 421 Queen St, unit 516:
Features: 3 bedrooms
Outgoings: body corp levy $7202/year
Income assessment: $650/week current
Outcome: sold for $471,000
Agent: Fiona Lee

Uptown

The Rodney, 109 Vincent St, unit 10E:
Features: one bedroom, balcony
Outgoings: body corp levy $3662/year
Outcome: sold for $291,000
Agents: Annie Xu & Sean Zhang

Victoria Quarter

Harvard, 147 Hobson St, unit 70:
Features: 2 bedrooms, balcony
Outgoings: body corp levy $3586/year
Outcome: sold for $285,000
Agent: Tom Wang

Hobson Gardens, 205 Hobson St, unit 8C:
Features: 140m², 3 bedrooms, 2 bathrooms, study, parking space
Outgoings: body corp levy $6267/year
Outcome: no bid
Agents: Stephen Shin & Yasu Ka

Commercial

Isthmus west

Grey Lynn

570 Great North Rd:
Features: 268m² site, 2 storeys, 2 shops, 2 recently refurbished & vacant apartments upstairs, zoned mixed use with potential under the unitary plan to build to 13m, seismic rating 67% of new building standard
Rent: $66,000/year net + gst
Outcome: sold for $2.6 million
Agents: Cam Paterson & Shaydon Young

Mt Albert

1087 New North Rd:
Features: 134m² site zoned business – neighbourhood centre under the unitary plan with maximum build height of 12.5m, unit fitted out as coffee shop or café, catering equipment & furniture included, parking at rear, low seismic rating
Outcome: no bid
Agent: Colin Stewart

Attribution: Auction.

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Work starts on 3 striking special housing area projects

Activity on 3 projects signalled progress – beyond signing up for land use – on providing supply to meet the acute housing shortage in Auckland.

All 3 have striking features:

  • The last, Auranga at Drury, where Building & Housing Minister Nick Smith turned the first sod on Friday (pictured above), is a very large & private project to build 1350 homes on 84.6ha in a mix of standalones, apartments, duplexes & terraces
  • The second is a 100-home development in New North Rd, Mt Albert, where Dr Smith signed an agreement under the Government’s Crown land housing programme on Wednesday with Marutuahu Ropu & Ockham Residential Ltd, and
  • The first, also under the Crown land housing programme, is a 196-home project on Moire Rd, Massey East, where Fletcher Residential Ltd & its partner, Ngati Whatua Orakei, blessed the site and turned the first sod to pave the way for earthworks to start in early November.

Moire Rd

On Moire Rd, 30% of the homes (59 of them), will be made available for social housing. Community housing providers will have first option to buy them and, if not taken up, they will be available to first-homebuyers.

The staged development will be a mix of detached single-storey dwellings, terraces & duplexes. The first homes are scheduled to be completed by the end of August 2017 and the whole development completed by mid-2019.

The site had been held by the Ministry of Education for a new school but became surplus to its requirements when Hobsonville Point Secondary School was built instead.

It was bought by the Ministry of Business, Innovation and Employment in November 2015 and offered to Tamaki Makaurau LP in January, but this wasn’t taken up. Fletcher Residential was offered the site in April as the most highly ranked member of the development panel, and heads of agreement reached in June. Resource consents have since been granted for the subdivision & earthworks.

Dr Smith said: “This project will provide nearly 200 homes in a part of Auckland where housing demand is strongest. The Government is using its ownership of the land to require a pace of construction and a mixed development with a significant portion of social housing.”

Mt Albert

Dr Smith said the agreement with Marutuahu Ropu & Ockham Residential would result in a 100-home development with an average house price of $573,000, 8km from Auckland’s city centre.

The Marutuahu iwi has led the project and it’s the first development under the housing protocol between the Crown & the Tamaki Collective.

“This site was originally owned by the NZ Transport Agency as part of the Waterview roading development and was identified last year as a candidate for the Crown land housing programme. The development opportunity was optimised by purchasing earlier this year an adjacent section which was privately owned,” Dr Smith said.

“The key to more affordable housing close to Auckland city is greater density & smart design. The special housing area status granted earlier this year enables 100 homes on the site, rather than 24 under the old planning rules.

“Ockham has proven experience in developing innovative, high quality & affordable housing with a focus on 3- & 4-level character apartments. Marutuahu Ropu is an important partner and, through the Tamaki Collective, helped achieve the successful housing development at Waimahia at Weymouth.”

Following the heads of agreement signed on Wednesday, a detailed development agreement is expected to be concluded in December. It’s anticipated construction will begin on the first stage in July 2017, with the first dwellings due to be completed by May 2018. The balance will be completed over 2018-19.

Under the Crown land housing programme, the Government is using its ownership to help facilitate an increase in the supply & affordability of housing. It receives deferred settlement for the land but places requirements on development to occur at pace, and for the homes to be constructed at the more affordable end of the housing market.

“The Government is step by step, development by development, resolving Auckland’s housing challenges.”

Drury

The Auranga masterplan at Drury.

The Auranga masterplan at Drury.

The start of works at the Auranga special housing areas on Bremner Rd, Drury, follows a rapid course from approval in Auckland Council’s tranches 6 & 9 in August 2015 & February 2016, through plan change & subdivision consent.

Auranga managing director Charles Ma said this demonstrated how the Government, council, utility providers & private developers could work together to speed up the supply of good quality housing in Auckland: “I am immensely proud that everyone has worked so hard & well together. This resulted in our application to rezone the greenfields site for residential development being unanimously supported by submitters, and has enabled work to start in extremely quick time for a project of this scale.”

Auranga, meaning ‘a life force that sets progress in motion’, will provide 1350 homes, over 200 of them in the affordable category, which is 50% more than required under the special housing area provisions.
Mr Ma dispelled the notion that it was just about pumping out houses: “It is way more than just bricks & mortar. Auranga is about people, community & providing the foundations for good living. Often developments try to create a sense of community, but end up being just rows of houses with no heart & little atmosphere.

“I love timeless, elegant aesthetics & beautiful outdoor spaces. Auranga will be a celebration of traditional architecture & visually stunning surroundings that will encourage people to connect. I want to bring back community values like knowing everyone in your street and knowing your kids are safe to play freely around the neighbourhood.”

Auranga will include a network of walkways, boardwalks, bridges & cyclepaths, a jetty so people can enjoy the water, a village square & shops, a playground and dedicated dog exercise area.

Attribution: Ministerial & Auranga releases.

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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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