Archive | Newton

4 isthmus commercial sales

Bayleys’ city & fringe commercial team has completed sales in the fast-changing Sale St above Victoria Park (13 Sale St outlined in the picture above), and in Morningside, Newton & Remuera.

CBD

Victoria Quarter

13 Sale St:
Features: 438m² character office building, seismic rating 72% new building standard290m² open plan ground floor plus mezzanine, 9 secure basement parking spaces
Outcome: sold with vacant possession for $3.2 million
Agents: Cameron Melhuish, Matt Gordon & Genevieve Thompson-Ford

Isthmus east

Remuera

591 Remuera Rd:
Features: 167m² Upland Village site zoned neighbourhood centre, 159m² 2-level building built in 1973; ground-floor tenant Remuera Village Medical Centre exercised the first of 4 5-year rights of renewal in 2016, upstairs beauty clinic exercised last 2-year right of renewal in 2016
Rent:
 $65,839/year net + gst
Outcome: sold for $1.61 million at a 4.09% yield 
Agents:
 Cameron Melhuish, Andrew Wallace & Genevieve Thompson-Ford                                   

Isthmus west

Morningside

596 New North Rd:
Features: 813m² site zoned local centre, 18m height limit, 295m² warehouse & office building at rear, 2 short-term leases provide holding income until July 2018
Rent: $69,500 /year net + gst
Outcome: sold for $2.52 million
Agents: James Were & Scott Kirk

Newton

19 Newton Rd: 
Features: 1804m² site zoned business – mixed use, 18m height limit, 2123m² 3-level commercial building, 52 parking spaces, partly leased on short-term tenancies
Outcome: sold for $7.675 million
Agents: Scott Kirk & James Were

Attribution: Agency release.

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7 apartments sell at Ray White auction

7 apartments were sold at Ray White City Apartments’ auction yesterday out of 9 on offer, including one of 2 leasehold units at The Docks and another Quay Park leasehold at The Landings.

On the North Shore, 2 units in the Spencer on Byron (pictured) and one in the nearby Shoalhaven were sold.

An unusual moment for the city apartment office was a plus-$1 million sale for a large unit in H47, although once the size (116m²) & 2 parking spaces are taken into account, the square metre rate would come down to $7300/m² internal.

CBD

Quay Park

The Docks, 8 Dockside Lane, unit 154:
Features: leasehold, 30m², one bedroom, patio
Outgoings: rates $708/year including gst; body corp levy $4581/year including $1760/year ground rent, next ground rent review November 2018
Income assessment: $350/week current
Outcome: sold for $112,000
Agent: Dominic Worthington

The Docks, 6 Dockside Lane, unit 520:
Features: leasehold, 60m², 2 bedrooms, parking space
Outgoings: rates $1671/year including gst; body corp levy $11,967/year including $4598/year ground rent, next ground rent review November 2018
Income assessment: $600/week current
Outcome: no bid
Agents: Dominic Worthington & Ady Huang

The Landings, 10 Ronayne St, unit 211:
Features: leasehold, 61m², 2 bedrooms, 2 bathrooms, secure covered parking space, storage locker
Outgoings: rates $1037/year including gst; body corp operational levy $2972/year, ground levy $2488/year
Income assessment: $450/week current until October
Outcome: sold for $135,000
Agents: James Mairs & Dominic Worthington

Victoria Quarter

H47, 47 Hobson St, unit 1107:
Features: 116m², 2 bedrooms, 2 bathrooms, balcony, 2 parking spaces, storage locker
Outgoings: rates $2596/year including gst; body corp levy $9235/year after 10% discount
Income assessment: $770/week current for apartment + one parking space fixed until 15 May, appraisal $850-900/week furnished
Outcome: sold for $1.007 million
Agents: May Ma & Mark Li

Zest, 72 Nelson St, unit 113:
Features: 37m², fully furnished 2 bedrooms,
Outgoings: rates $1126/year including gst; body corp levy $3477/year after 10% discount
Income assessment: $430-450/week
Outcome: sold for $326,000
Agent: Victor Liu

Isthmus west

Newton

2H Diamond St:
Features: 61m², fully furnished 2 bedrooms with new furniture package, 2 parking spaces
Outgoings: rates $1628/year including gst; body corp levy $1905/year
Income assessment: $600-650/week furnished
Outcome: passed in at $600,000
Agents: Ryan Bridgman & Mitch Agnew

North-east

Takapuna

Shoalhaven, 130 Anzac St, unit B207:
Features: 50m², 2 bedrooms, balcony, secure parking space
Outgoings: rates $1486/year including gst; body corp levy $3573/year
Income assessment: $550-580/week furnished
Outcome: sold for $560,000
Agents: Damian Piggin & Daniel Horrobin

Spencer on Byron, 9-17 Byron Avenue, unit 1810:
Features: 30m² studio, balcony, parking space
Outgoings: rates $1968/year including gst; body corp levy $2568/year
Outcome: sold for $275,000 + gst
Agents: Gillian Gibson & James Mairs

Spencer on Byron, 9-17 Byron Avenue, unit 1606:
Features: 48m², one bedroom, secure parking space, under hotel management
Outgoings: rates $2524/year including gst; body corp levy $3471/year
Outcome: sold for $351,000 + gst
Agents: Gillian Gibson & James Mairs

Attribution: Company release.

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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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One apartment sells at Bayleys

A St Benedicts St apartment was sold under the hammer at Bayleys’ auction yesterday, but a unit in the Northridge in Parnell was passed in.

Isthmus east

Parnell

Northridge, 28C Stanwell St:
Features: 2 bedrooms, study, 2 bathrooms, 2 parking spaces
Outgoings: rates $1764/year including gst; body corp levy $7059/year
Outcome: passed in at $630,000, back on market at $725,000
Agent: Chris Reeves

Isthmus west

Newton

31 St Benedicts St, unit 7:
Features: one bedroom in converted warehouse, high stud, balcony, storage locker
Outgoings: body corp levy $9813/year
Outcome: sold for $601,000
Agents: Diane Jackson & Julie Prince

Attribution: Auction.

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7 sub-5% sales at Bayleys commercial auction

Today’s Reserve Bank cut in the official cashrate was well & truly factored into commercial property prices yesterday at Bayleys’ Total Property auction as 6 fully leased properties sold at sub-5% yields. 3 more were sold at yields under 5.6%, and another at sub-5% was achieved at an auction brought forward.

11 of the 16 properties on the day’s auction list were sold under the hammer.

CBD

High St

3-7 High St, unit G1:
Features: 173m² retail unit on ground floor of 7-storey character building, new 3-year lease to fashion retailer Flo & Frankie from 1 October + 3 3-year rights of renewal
Rent: $150,000/year net + gst
Outcome: sold for $2.83 million at a 5.3% yield
Agents: Sarah Boles

Learning Quarter

The Waldorf Tetra, 85 Wakefield St.

The Waldorf Tetra, 85 Wakefield St.

Waldorf Tetra, 85 Wakefield St, units E & K:
Features: 15 serviced, fully furnished apartments plus additional space currently used as a common room, totalling 447m² on 2 titles on one floor, lease to Waldorf Group until February 2018 with no right of renewal
Rent: $152,104/year net + gst
Outcome: sold for $2.75 million at a 5.53% yield
Agents: Quinn Ngo, James Chan & Matt Lee

Queen St

115 Queen St, unit C:
Features: 210m² ground-floor retail unit fronting pedestrian lane at foot of Swanson St, for sale with vacant possession
Rent: had holding income of $104,000/year + gst until end of August
Outcome: no bid
Agents: Quinn Ngo & Owen Ding

Isthmus east

Onehunga

6 Newsome St, Onehunga.

6 Newsome St, Onehunga.

6 Newsome St:
Features: 477m² site, 336m² building in Onehunga industrial precinct, recently renewed 4-year lease to Petty Dies & Laser Cutting Ltd, which also occupies interconnected neighbouring property
Rent: $33,000/year net + gst
Outcome: sold for $810,000 at a 4.07% yield
Agents: James Valintine & Greg Hall

93 Selwyn St:
Features: 959m² site (improvements not included) zoned terrace housing & apartment building under proposed unitary plan, holding income from lease to community trust childcare centre until February 2018, with 6-month cancellation clause
Rent: $12,000/year net + gst
Outcome: sold for $1.7 million
Agents: Paul Dixon & Tony Chaudhary

Panmure

24 Queens Rd:
Features: 175m² site in retail strip, town centre zoning under proposed unitary plan, 223m² building, pizza outlet on ground floor & law firm above
Rent: $33,000/year net + gst
Outcome: passed in at $510,000
Agents: Simon Aldridge & Oscar Kuang

Isthmus west

Mt Eden

471 Mt Eden Rd (pictured at top):
Features: 273m² business 1 corner site going to mixed use under proposed unitary plan, 113.5m² retail premises with short-term tenancy, 6 parking spaces
Rent: $87,821.50/year net + gst holding income
Outcome: sold for $1.885 million at a 4.66% yield
Agents: Phil Haydock & Tony Chaudhary

Newton

3 Abbey St, Newton, sold at a 4.31% yield.

3 Abbey St, Newton, sold at a 4.31% yield.

3 Abbey St:
Features: 607m² mixed-use site on corner of Gundry St, 2-level building occupied by Art + Object for 9 years, final 3-year right of renewal from September exercised
Rent: $152,000/year net + gst + outgoings
Outcome: sold for $3.525 million at a 4.31% yield
Agents: Dave Stanley, Alan Haydock & Tony Chaudhary

North-east

Rosedale

42 Constellation Drive:
Features: 121m² ground-floor premises in commercial complex, leased to 3A Copies & Design Ltd
Rent: $30,000/year net + gst
Outcome: sold for $560,000 at a 5.36% yield
Agents: Own Ding, James Chan & Eddie Zhong

9 Orbit Drive, Rosedale, sold at a 4.47% yield.

9 Orbit Drive, Rosedale, sold at a 4.47% yield.

9 Orbit Drive, unit 1:
Features: 664m² roadfront office & warehouse unit, 10 parking spaces, new 6-year lease to Advanced Lighting Technologies (NZ) Ltd
Rent: $95,000/year net + gst, increasing to $110,000/year in 2017
Outcome: sold for $2.125 million at a 4.47% yield
Agents: Matt Mimmack & Ashton Geissler

9 Parkhead Place, unit B:
Features: 246.5m² industrial unit – high stud warehouse 208.5m², office & amenities 38m²
Rent: $29,000/year net + gst, leased until March 2017
Outcome: sold for $655,000 at a 4.43% yield
Agents: Matt Mimmack & James Kidd

Wairau Valley

15 Kaimahi Rd:
Features: 1011m² industrial site – 404m² yard, 521m² warehouse, established tenant Geovert Ltd has renewed for 5 years from 1 August
Rent: $64,752/year net + gst
Outcome: sold for $1.369 million at 4.73% yield
Agent: Matt Mimmack

North-west

Henderson

260 Swanson Rd, unit E:
Features: 100m² retail unit, established tenant Ezycash on renewed 4-year lease + 3 further terms of 4 years
Rent: $30,000/year net + gst
Outcome: passed in at $610,000
Agents: Mark Pittaway

New Lynn

80 Delta Avenue:
Features: 1142m² site, 1469m² 2-level warehouse & office building, part-tenanted, vendor occupying the balance
Rent: $54,050/year net + gst
Outcome: sold for $1.7 million
Agents: Grant Miller, Laurie Bell & Mike Adams

2-6 Todd Plaza:
Features: 377m² town centre site, 313m² single-level character building fully leased to 3 tenants – Thai restaurant, Glover Real Estate & dairy
Rent: $105,420/year + gst + outgoings
Outcome: sold for $2.11 million at a 4.99% yield, auction brought forward with declared reserve of $1.975 million
Agents: Tony Chaudhary, Amy Weng & Mike Adams

South

Highland Park

20-22 Dunrobin Place, unit 7:
Features: 180m² unit, 8-year lease to Flow Academy of Motion from June 2014, has had seismic upgrade to A+
Rent: $54,000/year net + gst
Outcome: passed in at $880,000
Agents: Eddie Zhong & Ranjan Unka

Papakura

61-63 O’Shannessey St:
Features: 500m² site in 2 titles, refurbished 957m² building, Veolia Water NZ Ltd head office
Rent: $149,062/year net + gst
Outcome: no bid
Agents: Graeme Moore

South of Bombays – Coromandel

Hahei

404 Lees Rd:
Features: 21ha of waterfront land, full coastal access
Outcome: withdrawn from auction
Agents: John Greenwood & Belinda Sammons

Attribution: Auction.

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4 of 7 auction sales at very strong yields

Bayleys’ commercial auction today began with a sale at what used to be a very firm yield, 5.5%, which was followed by 3 sales at yields under 5%.

7 of the 9 commercial properties in the auction were sold under the hammer, one was passed in and the auction of the other one was postponed a week.

3 other properties were sold at auctions brought forward or outside the auction room, and one was turned over to sale by deadline private treaty closing on Friday.

Isthmus east

Mt Wellington

59 Carbine Rd, unit C:
Features: 536m² industrial site, building has A+ seismic rating
Rent: $72,000/year net on new 6-year lease to established tenant
Outcome: sold for $1.505 million at a 4.8% yield
Agents: Tony Chaudhary & Sunil Bhana

Isthmus west

Newton

18 Newton Rd (pictured):
Features: 304m² site, 344m² building
Rent: $63,654/year net + gst, built-in rental growth of 3%/year
Outcome: sold for $1.42 million at a 4.5% yield
Agents: Cameron Melhuish & Andrew Wallace

North-east

Albany

Bruce Lee Sushi, The Foundation, 270 Oteha Valley Rd, unit 8:
Features: 58m², in the 22-unit Foundation retail centre
Rent: $31,413/year net + gst + opex, annual rent increases of CPI + 1%, 9-year lease from June 2014, one further right of 6 years
Outcome: auction bought forward with a declared reserve of $600,000, sold after a further 41 bids for $700,000 at a yield of 4.5%; this unit was initially sold at auction by the developer in July 2014 for $580,000 at a 5.4% yield
Agents: Terry Kim & Michael Block

The Foundation, 270 Oteha Valley Rd, unit 22:
Features: 356m² unit leased to national quantity survey company Cuesko for 6 years to October 2020, 10 parking spaces
Rent: $106,861.83/year net + gst, annual increases of 2%
Outcome: auction brought forward, sold at declared reserve price of $1.5 million at a 7.1% yield
Agents: Quinn Ngo & Eddie Zhong

Rosedale

Interplex business park, 19A Triton Drive:
Features: 745m² unit in 6-unit development, ground-floor showroom or office plus mezzanine office, high stud clearspan warehouse at rear
Rent: $130,000/year net + gst + opex
Outcome: auction postponed until next Wednesday
Agents: Laurie Burt & Matt Mimmack

Takapuna

22 Tennyson Avenue:
Features: 514m² corner site, zoned for terraced housing & apartments under the proposed unitary plan, 90m² 1940s house
Outcome: sold for $1.59 million at $3093/m² land
Agents: Ashton Geissler & Simon Aldridge

Wairau Valley

Wairau Park, 12 Link Drive, unit F:
Features: 649m² roadfront unit, seismic rating 99% new building standard,
Rent: $164,991/year net + gst + opex from 2 established tenants on new leases
Outcome: passed in after top bid at $2.4 million, vendor bid $2.5 million
Agents: Trevor Duffin & Adam Watton

North-west

Glen Eden

1-2 West Coast Rd:
Features: 1490m² corner site across road from Kelston shopping centre, 800m² building, 21 parking spaces
Rent: $118,000/year net from 5 tenancies, one more to be leased
Outcome: sold for $2.335 million at a 5.1% yield
Agents: Mustan Bagasra & Millie Liang

Henderson

Lincoln North Shopping Centre, 192 Universal Drive, unit 8B, corner Lincoln Rd:
Features: bank branch
Rent: $132,023/year net + gst from BNZ as tenant
Outcome: sold for $3.02 million at a 4.37% yield
Agents: Oscar Kuang & James Chan

South

East Tamaki

333 East Tamaki, unit C:
Features: 572m² specialist food-grade unit, seismic rating 80% of new building standard, new 6-year lease with rights of renewal
Rent: $82,000/year net
Outcome: auction turned into sale by deadline private treaty closing on Friday
Agents: Tony Chaudhary & Janak Darji

333 East Tamaki Rd, unit H:
Features: 540m² industrial building – 350m² warehouse, 94m² office, 96m² showroom, 5-year lease to Retailquip NZ Ltd from this month + one 5-year right of renewal
Outcome: sold prior for $1 million at a 6.5% yield
Agents: Katie Wu & John Bolton

441 East Tamaki Rd:
Features: 2000m² corner site, 718m² building sold by Pumpkin Patch Ltd – 170m² mezzanine office, 548m² high stud workshop & warehouse, A+ seismic rating, 2 container-height roller doors, 25 parking spaces & potential to expand
Outcome: sold for $1.85 million
Agents: Marty Roestenburg

Mangere

47 Rennie Drive:
Features: 1593m² site, 780m² industrial building, dual access, multiple roller doors, 90% seismic rating
Rent: $80,000/year net, rising to $84,000 next year
Outcome: sold for $1,442,500 at a 5.5% yield
Agents: Tony Chaudhary & Janak Darji

Image at top: The mechanic’s workshop at 18 Newton Rd, above the North-western Motorway.

Attribution: Auction.

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11 apartment sales by Impression

Impression Real Estate has reported 11 apartment sales in Auckland’s central area and the western fringe suburbs of Eden Terrace & Newton.

CBD

Federal St

Federal, 207 Federal St, unit 703:
Features: 61m², partly furnished, 2 bedrooms, balcony
Outgoings: rates $1397/year including gst; body corp levy $5141/year
Outcome: sold vacant for $480,000; last sold for $387,000 in July 2006

Learning Quarter

Argent Hall, 2 Eden Crescent, unit 14A:
Features: 43m², partly furnished, one bedroom, balcony
Outgoings: rates $1274/year including gst; body corp levy $5237/year
Outcome: sold vacant for $398,000; last sold for $147,000 in April 2004

Uptown

Q Central, 30 Liverpool St, unit 6A:
Features: 60m², leasehold, furnished 2 bedrooms, balcony
Outgoings: rates $1163/year including gst; ground rent $7400/year, opex $3759/year
Outcome: sold vacant for $177,000; last sold for $145,000 in May 2014

Volt, 430 Queen St, unit 525:
Features: 38m², partly furnished, 2 bedrooms, balcony
Outgoings: rates $1200/year including gst; body corp levy $4917/year
Outcome: sold vacant for $364,000; last sold for $280,000 in April 2004

Volt, 430 Queen St, unit 1217:
Features: 40m², furnished 2 bedrooms, balcony, parking space
Outgoings: rates $1151/year including gst; body corp levy $5595/year for unit & parking
Outcome: sold vacant for $398,000; last sold for $249,000 in November 2010

Eclipse, 156 Vincent St, unit 7K:
Features: 41m², furnished one bedroom, balcony
Outgoings: rates $1275/year including gst; body corp levy $3271/year
Outcome: sold vacant for $350,000; last sold for $290,000 in October 2006

Victoria Quarter

Harvard, 147 Hobson St, unit 1G: 
Features: 37m², furnished 2 bedrooms
Outgoings: rates $1052/year including gst; body corp levy $3627/year
Income assessment: $400/week current
Outcome: sold for $275,000; last sold for $192,000 in September 2013

Harvard, 147 Hobson St, unit 1K:
Features: 37m², furnished 2 bedrooms
Outgoings: rates $1052/year including gst; body corp levy $3627/year
Outcome: sold vacant for $285,000; last sold for $169,000 in October 2003

Zest, 72 Nelson St, unit 1503:
Features: 36m², furnished 2 bedrooms, balcony
Outgoings: rates $1126/year including gst; body corp levy $3801/year
Income assessment: $430/week current
Outcome: sold for $309,000; last sold for $207,000 in July 2003

Isthmus west

Eden Terrace

Fleetwood, 19 Fleet St, unit G6:
Features: 98m², partly furnished, 2 bedrooms, 2 balconies
Outgoings: rates $1241/year including gst; body corp levy $3308/year
Outcome: sold vacant for $695,250; last sold for $320,000 in 2007

Newton

Citizen, 10 Exmouth St, unit 207:
Features: 50m², unfurnished one bedroom, balcony
Outcome: sold off the plans for $524,000

Attribution: Agency release.

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3 sales & 4 leases around Newton area

Bayleys agents working on the city fringe have completed 3 sales & 4 leases in Newton, Eden Terrace & Grafton.

Sales

Isthmus west

Newton

60 New North Rd:
Features: 708m2  corner site zoned mixed use, 956m3-level building, 2 office levels, basement parking, new 5-year lease on ground floor to multinational tenant, 504m2 of vacant space on level 1
Rent: $142,660/year net + gst
Outcome: sold by tender for $3.95 million
Agents: Alan Haydock, Scott Kirk & Phil Haydock

91 Newton Rd (pictured above):
Features: 1310m2 site zoned mixed use, 735m2 of buildings – 2 workshops, apartment, 23 parking spaces, owned & occupied by tyre services since the late 1980s
Rent: holding income of $125,280/year net + gst
Outcome: sold vacant for $4.21 million at land value of $3214/mand a 3% yield
Agents: Alan Haydock, Damien Bullick & Owen Ding

60-64 Upper Queen St.

60-64 Upper Queen St.

60-64 Upper Queen St:
Features: 660msite zoned mixed use with an increase in height limit under the proposed unitary plan from 15m to 32.5m, 948m3-level building, 31 parking spaces, leased to 4 tenants on short-term leases
Rent: $254,429/year net + gst
Outcome: sold before close of tenders for $3.9 million at a 6.5% yield
Agents: Alan Haydock & Damien Bullick

Leases

Isthmus east

Grafton

181 Khyber Pass Rd:
Features: 548mbuilding – 380m2 office, 168m2 warehouse, 11 parking spaces, leased for 3 years plus 4 3-year rights of renewal
Rent: $143,980/year net + gst (including parking @ $35/space/week)
Agent: Matt Gordon

Isthmus west

Eden Terrace

15 Khyber Pass Rd, units 1 & 2:
Features: 42m& 43mground-floor retail units in recently refurbished character building, leased for $450/mon separate tenancies for 2 years with 2-yearly rent reviews & 3 2-year rights of renewal
Rent: unit 1, $18,900/myear net + gst; unit 2, $19,350/m2  year net + gst
Agent: Sarah Boles

Newton

1 Cross St, level 2:
Features: 284.5moffice, 2 parking spaces, leased for $255/m2 for 5 years with 3% annual rent increases & one 3-year right of renewal
Rent: $78,267.50/year net + gst (including parking @ $55/space/week)
Agents: Ben Wallace & Matt Gordon

15 Gundry St:
Features: 910m2 site zoned mixed use, 456mshowroom, 234m2 office, 139m2 warehouse, leased for 9 years
Rent: $200,740/year + gst
Agent: Phil Haydock

Attribution: Agency release.

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9 “intensive living” properties sold at Barfoots auction

5 of the 22 “intensive living” properties auctioned at Barfoot & Thompson on Wednesday (apartments, cross-leases, townhouses & flats) were sold under the hammer and 4 apartments were sold pre-auction.

A block of 4 flats in Mt Wellington was sold under the hammer but 4 apartments in another Mt Wellington complex, with a remediation claim lodged & offered individually, were all passed in. A cross-leased property in Kohimarama, a home in a gated Blockhouse Bay complex, a Hillsborough unit and an apartment in cbd-fringe Eden Terrace were also sold under the hammer.

CBD

Learning Quarter

Oxford, 13 Mount St, unit 4H:
Features: studio
Outgoings: body corp levy $2238/year
Outcome: passed in
Agents: Stephen Shin & Yasu Ka

Queen St

Portland Towers, 62 Queen St, unit 16C:
Outcome: sold prior
Agents: Stephen & Leo Shin

Victoria Quarter

Fiore, 152 Hobson St, unit 801:
Outcome: sold prior
Agents: Annie Xu & Sean Zhang

Oaks on Hobson, 188 Hobson St, unit 202:
Outcome: sold prior
Agents: Aaron Cook & Betty Shao

Isthmus east

Epsom

166 St Andrews Rd, unit 3:
Features: 118m² unit, 2 bedrooms, balcony, courtyard, garage
Outcome: no bid
Agents: Doug Lum & Ross Girven

Glendowie

218 West Tamaki Rd:
Features: cross-lease, half share in 779m², 3 bedrooms, carport
Outcome: passed in
Agent: Zdenka Zinajic

Kohimarama

59 Southern Cross Rd:
Features: cross-lease, one-third share in 1328m², 3-bedroom townhouse, 2 bathrooms, terrace, double garage
Outcome: sold for $1.05 million
Agent: Alex Baker

Mt Wellington

6C Harrison Rd:
Features: 3 bedrooms, 2 bathrooms, balcony, yard, tandem garage – one of 4 units in this block up for auction; the body corporate has lodged a claim with the Weathertight Homes Resolution Service, and remedial plans have been drawn up for an estimated $1.2 million + gst repair
Outgoings: body corp levy $1814/year
Outcome: passed in
Agent: Veronica Schoonraad

6E Harrison Rd:
Features: 3 bedrooms, 2 bathrooms, balcony, courtyard, tandem garage
Outgoings: body corp levy $1814/year
Outcome: no bid
Agents: Veronica Schoonraad & Cheryl Woodward

6F Harrison Rd:
Features: 3 bedrooms, 2 bathrooms, balcony, tandem garage
Outgoings: body corp levy $1814/year
Outcome: no bid
Agents: Veronica Schoonraad & Cheryl Woodward

6G Harrison Rd:
Features: 3 bedrooms, 2 bathrooms, balcony, yard
Outgoings: body corp levy $1850/year
Outcome: no bid
Agent: Veronica Schoonraad

34 Malone Rd, flats 1-4:
Features: 1131m²section, 4 flats each on own title & with own parking space
Outcome: sold for $2 million
Agents: Gerry Philpott & Dong Liu

9A Rutland Rd:
Features: cross-lease, half share in 931m², 4 bedrooms, 2 bathrooms, 5 offstreet parking spaces
Outcome: no bid
Agents: James Yang & Paul Knussen

Onehunga

20 Spring St, unit 3:
Features: cross-lease, one-third share in 1434m², 2-bedroom townhouse, renovated, courtyard, carport
Outcome: no bid
Agent: Jane Wang

Isthmus west

Avondale

5E Rosebank Rd:
Features: 2 bedrooms
Outcome: no bid
Agent: Anna Copeland

Blockhouse Bay

28 Taylor St, unit 6:
Features: 347m² site in gated complex, no body corporate, 3 bedrooms, 2 bathrooms, double internal garage
Outcome: sold for $716,000
Agent: Robin Cross

Eden Terrace

40 Charlotte St, unit 1F:
Features: 78m², 2-bedroom apartment, parking space, storage locker
Outgoings: rates $1551/year including gst; body corp levy $2712/year
Outcome: sold for $495,500
Agents: Belinda Illingworth & Anah Jordan

3 Ngahura St, unit 24:
Outcome: sold prior
Agent: Livia Li

Herne Bay

The Moorings, 67 Sarsfield St, unit 2:
Features: cross-lease, one-24th share in 2147m², 2-bedroom apartment, terrace, single carport
Outcome: no bid
Agents: Liz Derbyshire & David Dowse

Hillsborough

551 Hillsborough Rd, unit 3:
Features: 3-bedroom unit, deck, single garage
Outcome: sold for $686,500
Agents: Gail Beaton & Kevin He

Mt Eden

38 Woodford Rd, unit 2:
Features: 2-bedroom unit, exclusive outdoor area, garage
Outcome: passed in
Agents: Paul Donovan & Sharon Walls

Newton

30 Randolph St, unit 2K:
Features: 50m², one-bedroom apartment, 2 parking spaces, building reclad & new code compliance certificate issued
Outgoings: body corp levy $2981/year
Outcome: passed in
Agents: Joy Zhao & Louie Liu

Attribution: Auctions.

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Retail building & 5 suburban units sell

A Newmarket unit containing 2 shops (pictured) was sold on a 5.66% yield at Barfoot & Thompson’s auction on Wednesday, along with 5 cross-leased suburban residential units.

Commercial

Isthmus east

Newmarket

2A Balm St:
Features: 116m², 20m from Broadway, parking space, divided into 2 shops, IEP rating 100% of new building standard, one of 9 units in body corporate on 1581m² site zoned business 3, which allows business-orientated development up to 30m high, and the proposed unitary plan allows a combination of business or residential use to 32.5m
Rent: $93,613/year with reviews in February 2016 & 2018, no right of renewal at expiry in 2020
Outcome: sold for $1.655 million + gst at a 5.66% yield
Agents: Cam Paterson & Kim Loo

Penrose

10 Olive Rd, unit 20:
Features: cross-lease – one-20th of 2000m² site; 430m² unit, onsite parking
Rent: vacant
Outcome: no bid, back on market at $780,000 + gst
Agents: Ben Johnson & James Marshall

Apartments

CBD

Quay Park

Hudson Brown, 57 Mahuhu Crescent, unit 106:
Features: leasehold, 86m², 2 levels, 2 bedrooms, parking space
Outgoings: rates $1509/year including gst; body corp levy $10,271/year
Outcome: passed in at $180,000
Agents: Stephen Shin & Leo Shin

Isthmus east

Grafton

Phoenix Gardens, 135 Grafton Rd, unit 107:
Features: 80m², one bedroom, deck, secure parking space, storage
Outgoings: body corp levy $7330/year
Outcome: no bid; back on market at $560,000
Agents: Rita Herceg & Alex Allan

Kohimarama

31 Speight Rd, unit 2:
Features: cross-lease, 2 bedrooms, 2 bathrooms, balcony, carport, offstreet parking space
Outcome: no bid
Agents: Andy Dye

One Tree Hill

61 Rawhiti Rd, unit 4:
Features: cross-lease – one-quarter of 1198m² site; 2 bedrooms, deck, garden, garage, 2 offstreet parking spaces
Outcome: sold for $850,000
Agents: Janice Hamilton-Cox & Philip Cox

Panmure

23 Kings Rd, unit 5:
Features: cross-lease – one-sixth of 2005m² site; 2 bedrooms, conservatory, garage, 2 offstreet parking spaces
Outcome: sold for $690,000
Agents: Margaret Johnston & Phyllis Brooks

Parnell

5 Claybrook Rd, unit 4:
Features: one bedroom, ground floor
Outgoings: body corp levy $1105/year
Outcome: passed in
Agents: Liz Derbyshire

Isthmus west

Newton

The Saint, 17-19 St Benedicts St, unit 302:
Features: 2 bedrooms, 2 bathrooms, covered wraparound deck, secure parking space
Outgoings: body corp levy $3869/year
Outcome: sold for $810,000
Agents: Rico Zhao & Carolyn Kang

Onehunga

23 Clarke Rd, unit 2:
Features: cross-lease – one-third of 810m² site; 2 bedrooms, double carport
Outcome: sold for $636,000
Agents: Ian Griffiths & Winnie Groom

North-west

Te Atatu South

15 Valron Rd, unit 3:
Features: cross-lease – one-fifth of 1752m² site, 2 bedrooms, carport, offstreet parking space
Outcome: sold for $400,000
Agents: Scott Huynh

Attribution: Auction documents.

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