Archive | Isthmus west

2 mixed-use buildings and a childcare centre sell

Bayleys agents have sold 2 buildings zoned mixed use in Kingsland & Glen Eden, and a new childcare centre at Westgate.

Isthmus west

Kingsland

343 New North Rd:
Features: 372m² site zoned mixed use (height limit 21m), 222m² industrial building with mezzanine storage, constructed in mid 1970s; automotive tenant in occupation for over 20 years, now on month-to-month lease
Rent: $36,000/year net + gst
Outcome: sold for $1.65 million at a 2.18% yield
Agents: Kate Kirby & Stephen Scott

North-west

Glen Eden

41 Cartwright Rd:
Features: 2062m² site zoned mixed use, 3 industrial buildings of 345m², 372m² & 527m², one tenanted & 2 vacant, both vacant premises refurbished & ready for occupation; 3-year lease on 372m² building to automotive tenant until August 2019, 2 3-year rights of renewal; residential redevelopment potential longer term
Rent: $24,000/year net + gst
Outcome: sold for $1.7 million
Agents: James Valintine & William Gubb

Westgate

575 Don Buck Rd, unit 6:
Features: 3998m² site, new 1159m² childcare centre licensed for 110 children; one of 6 units in recently built commercial complex near intersection with Fred Taylor Drive, leased to Learning Tree Childcare Centre for 15 years plus 2 10-year rights of renewal
Rent: $286,000/year net + gst, 3% fixed rental increases every 2 years from November 2020
Outcome: sold for $4.7 million at a 6.08% yield
Agents: Tony Chaudhary, Janak Darji, James Chan & Matt Lee

Attribution: Company release.

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3 of 13 apartments & units sell at auctions

3 of the 13 intensive residential properties – city centre apartments, suburban units & townhouses – auctioned at Barfoot & Thompson’s city branch at sessions on Wednesday & Thursday sold under the hammer.

Of the 36 residential properties, including standalone homes, auctioned over the 2 days, 17 sold at the auction.

CBD

Albert St

Stamford Residences, 26 Albert St, unit 1511:
Features: 127m², 2 bedrooms, 2 bathrooms, conservatory, parking space
Outgoings: body corp levy $8475/year
Outcome: passed in at $1.3 million
Agents: Stephen & Leo Shin

Learning Quarter

Waldorf Celestion, 19 Anzac Avenue, unit 502:
Features: 2 bedrooms, balcony
Outgoings: body corp levy $4410/year
Outcome: passed in at $440,000
Agent: Jason Buckwell

Victoria Quarter

Fiore, 152 Hobson St, unit 408:
Features: 40m², one-bedroom apartment
Outgoings: body corp levy $2907/year
Outcome: passed in at $250,000
Agents: Andre Volkov & Mike Ma

Isthmus east

Meadowbank

21 Houghton St, unit 1:
Features: 2-bedroom unit, patio, raised deck, garage
Outcome: sold for $660,000
Agent: Steve Hood

Onehunga

279A Onehunga Mall:
Features: 3-bedroom loft, 2 bathrooms, balcony, tandem parking
Outcome: sold for $720,000
Agents: Wendy Sadd & Ron Maman

151 Selwyn St, unit 7:
Features: 2-bedroom unit, carport
Outcome: sold for $775,000
Agent: Digna Clark

St Heliers

40 Devore St:
Features: 3-bedroom refurnished penthouse with internal lift, 2 bathrooms, 2 conservatories
Outcome: passed in
Agent: Karin Cooper

Isthmus west

Coxs Bay

Bayside Lofts, 571 Livingstone St:
Features: 2-bedroom loft, 2 bathrooms, 2 parking spaces
Outcome: passed in at $900,000
Agents: Carl & Roseanne Madsen

Grey Lynn

M-One, 250 Richmond Rd, unit 3N:
Features: 42m², one-bedroom apartment, patio, storage locker, secure covered parking space; remedial work planned
Outcome: passed in at $240,000
Agents: Sheryl Jones & Jack Atherton

Herne Bay

3 Hamilton Rd, unit 10:
Features: one-bedroom apartment, storage locker, secure parking space
Outcome: passed in at $770,000
Agent: Felicity Scott

Sandringham

43 Kingsway Avenue, unit 6:
Features: 3-bedroom unit, 2 bathrooms, garage
Outcome: passed in at $730,000
Agents: Yi Wei Lowndes & Tian Qiu

North-west

New Lynn

1 Briar Way, unit 19:
Features: 3-bedroom terrace, 2 bathrooms, internal-access garage, reclad & redecorated
Outcome: no bid
Agent: Isabella Li

43A Rata St:
Features: 135m² site, 3 bedrooms, 2 bathrooms, study, internal-access garage
Outcome: no bid
Agent: Michelle Zhang

Attribution: Auctions.

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Shop & small industrial unit sell at auction

Barfoot & Thompson agents sold 2 commercial properties at auction yesterday, one a Mt Roskill liquor store and the other an industrial unit in Mt Wellington.

Isthmus east

Mt Wellington

84 Elizabeth Knox Place, unit 2:
Features: 140m² air-conditioned industrial unit – 2 offices, showroom, unconsented mezzanine floor, camera security system, 3 parking spaces
Outcome: sold vacant for $706,000
Agent: Mike Jensen

Isthmus west

Mt Roskill

1228 Dominion Rd:
Features: 159m² site, dual access, 238m² building, liquor store & basement,
Rent: $42,000/year + gst + outgoings, next rent review August 2018
Outcome: sold for $815,000 at a 5.15% yield
Agents: Nick Wilson & Cam Paterson

Attribution: Auction.

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Sub-3% yields on College Hill, and Queen St office sells

A Queen St office floor has been sold at just under a 7% yield, and the second of 2 College Hill properties auctioned by Bayleys in May has now sold.

Both of the adjoining College Hill properties were sold at sub-3% yields. No 42 is outlined in the picture and No 44 is on its right.

CBD

Queen St

175 Queen St, level 6:
Features: 408m² office floor plus 88m² courtyard, one basement parking space, 2-year lease renewed from April 2017 to property management company AJ Stevenson Ltd
Rent: $89,520/year net + gst
Outcome: sold for $1.28 million at 6.99% yield
Agents: Quinn Ngo & Matt Lee

Isthmus west

Freemans Bay

42 College Hill:
Features: 511m² site, 124m² house, leased to a recruitment company with final expiry in April 2019
Rent: $44,500/year net + gst
Outcome: passed in at $1.5 million at auction on 17 May, sold for $1.7 million at a 2.62% yield
Agents: James Were & Scott Kirk

44 College Hill:
Features: 389m² site, 156m² dwelling, leased to a Thai spa until September 2018 with one final 2-year right of renewal
Rent: $44,000/year net + gst
Outcome: sold shortly after the 17 May auction for $1.5 million at a 2.93% yield
Agents: James Were & Scott Kirk

Earlier auction story:
28 May 2017: Updated: Wairau Valley car yard sells at over $2000/m² at Bayleys auction

Attribution: Agency release.

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3 of 5 suburban units sell

3 of the 5 suburban apartments & units auctioned at Barfoot & Thompson’s city office on Wednesday were sold under the hammer.

The agency sold 7 of the 25 residential properties (intensive & standalone) offered at 2 auction sessions.

Isthmus east

Meadowbank

146 St Johns Rd, unit 9:
Features: 2-bedroom unit, courtyard, garden, offstreet parking
Outcome: no bid
Agents: George Damiris & Carl Madsen

Remuera

16 Belmont Terrace, unit 14:
Features: 3-bedroom apartment, balcony, double garage
Outcome: sold for $795,000
Agent: Thomas Farmer

St Heliers

12 Kaimata St, unit 4:
Features: 3-bedroom apartment, 2 bathrooms, deck, 4-car garage
Outcome: no bid
Agent: Margot Torrance

36 Towai St, unit 2:
Features: one-bedroom unit, courtyard
Outcome: sold for $625,000
Agent: Lynette Boyd

Isthmus west

Mt Albert

3 Wagener Place, unit 42:
Features: 2-bedroom duplex townhouse, double carport
Outcome: withdrawn from auction, back on market at $759,000
Agents: Shirley Shen

North-west

New Lynn

Tuscany Towers, 1 Ambrico Place, unit 35:
Features: townhouse on 3 levels, 4 bedrooms, deck, internal-access double garage
Outcome: sold for $650,000
Agents: Dong & Lucca Liu

Attribution: Auctions.

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St Martins Lane & Kingsland apartments sell

Both apartments auctioned at Bayleys on Wednesday were sold under the hammer, one in an upmarket commercial conversion on St Martins Lane (pictured), with a view down Grafton Gully, and the other in Kingsland.

CBD

Learning Quarter

2 St Martins Lane, unit 9B:
Features: 2 bedrooms, 2 bathrooms, office space in commercial conversion, floor-to-ceiling windows, balcony, 3 parking spaces
Outcome: sold for $1.44 million
Agents: Julie Prince & Diane Jackson

Isthmus west

Kingsland

44 Aitken Terrace, unit 1E:
Features: 2-bedroom apartment, balcony, 2 covered parking spaces
Outcome: sold for $630,000
Agents: Chris Batchelor

Attribution: Auction.

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4 intensive properties sell

4 intensive residential properties were sold at Barfoot & Thompson’s city auctions on Wednesday, out of 11 units & cross-leases offered (Thursday results to come in separate story).

Isthmus east

Epsom

55 Empire Rd:
Features: cross-lease, half share in 965m², 3 bedrooms, double internal-access garage
Outcome: sold for $1.66 million
Agents: Di Lynds & Leonie Stabler

Glendowie

18 Cranbrook Place, unit 1B:
Features: 3 bedrooms, carport
Outgoings: body corp levy $1472/year
Outcome: passed in
Agents: Jane Wang & Dragon Zhou

18 Cranbrook Place, unit 6A:
Features: 2-bedroom unit
Outgoings: body corp levy $1153/year
Outcome: passed in
Agent: Zdenka Zinajic

Kohimarama

21A Melanesia Rd:
Features: cross-lease, 1/3 share in 766m², 3 bedrooms, double garage
Outcome: passed in
Agents: Maree Currie & Paul Robertson

Panmure

12 Kings Rd, unit 4:
Features: cross-lease, quarter share in 1256m², 3 bedrooms
Outcome: passed in
Agent: Nanette Graham

Parnell

20A St Georges Bay Rd:
Features: cross-lease, quarter share in 835m², 2 bedrooms, study, double internal-access garage
Outcome: passed in at $1 million
Agent: Linda Galbraith

St Heliers

42 West Tamaki Rd:
Features: cross-lease, 1/3 share in 1098m², 3 bedrooms, double carport
Outcome: sold for $1.14 million
Agents: Sam Bowen & Charles Benedict

Isthmus west

Grey Lynn

14 Peel St, unit 1:
Features: cross-lease, half share in 946m², 3-bedroom villa
Outcome: sold for $1.5 million
Agent: Carl Madsen

Hillsborough

28E Hillsborough Rd:
Features: cross-lease, 1/5 share in 1960m², 5 bedrooms, offstreet parking
Outcome: no bid
Agents: John Zhang & Kevin Sun

North-west

Massey

188 Waimumu Rd, unit 2:
Features: 2-bedroom unit, garage
Outcome: passed in at $510,000
Agents: Sunny Chae & Chris Lee

South

Howick

92B Howe St:
Features: cross-lease, half share in 1017m², 3 bedrooms, double garage
Outcome: passed in at $865,000, sold shortly after for $870,000
Agents: Sara-Jayne Kingston & Sheryl Orchard

Attribution: Auctions.

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Updated: Wairau Valley car yard sells at over $2000/m² at Bayleys auction

Published 18 May 2017, updated 21 & 28 May 2017:
11 of the 21 commercial properties auctioned by Bayleys on Wednesday in its third Total Property portfolio for the year were sold under the hammer. 2 more have been sold post-auction – first, 100 Hinemoa St, Birkenhead, followed by 44 College Hill.

The first were sold, followed by a lull, but 2 of the most expensive offerings were well down the auction list.

One was a Wairau Valley car sales yard, set among a line of lowrise buildings jammed between the Northern Motorway & Wairau Rd on the North Shore, a stretch where the height limit is now 20m under the unitary plan.

The car yard was sold at $2365/m², which means it’s destined for multi-level development.

2 properties were sold for $4 million, both in Henderson. The first was a bank branch on Great North Rd, sold on a 5.5% yield, and the second, a Supercheap Auto outlet in the Lincoln North shopping centre, sold on a 5.3% yield.

CBD

Victoria Quarter

166 Hobson St:
Outcome: sold prior
Agents: Sarah Boles & Terry Kim
Story, 11 May 2017: 12 years after demolition order scrapped, Hobson St building sells

Isthmus east

Panmure

63 Queens Rd:
Features: 97m² retail unit on 2 levels occupied by Willow Hair Design, parking space
Rent: $24,000/year net + gst on new 3-year lease with 2 2-year renewals
Outcome: passed in
Agents: Ken Hu

Parnell

385 Parnell Rd, unit E:
Features: 54m², retail fully leased on month-to-month basis, 2 secure parking spaces
Rent: $32,760/year net + gst
Outcome: sold for $505,000
Agents: Andrew Wallace & Cameron Melhuish

Remuera

563 Remuera Rd:
Features: 144m² cafe, Upland Rd shopping village
Rent: $76,104/year net + gst
Outcome: sold for $1.6 million
Agents: Cameron Melhuish & Andrew Wallace

Isthmus west

Freemans Bay

42 College Hill:
Features: 511m² section, house with 124m² floor area, onsite parking
Rent: $44,500/year net + gst
Outcome: passed in at $1.5 million
Agents: James Were & Scott Kirk

Updated: 44 College Hill:
Features: 389m² section, house, onsite parking
Rent: $44,000/year net + gst
Outcome: passed in, sold post-auction for $1.5 million
Agents: James Were & Scott Kirk

Mt Roskill

74 Carr Rd:
Features: 835m² site, 697m² single-level building
Outcome: withdrawn from auction, changed to sale by deadline private treaty
Agents: Tony Chaudhary & Sunil Bhana

North

Kaikohe

39 Station Rd:
Features: 7199m² commercial property in 2 titles
Outcome: withdrawn from auction
Agents: John Greenwood & Paul Dixon

Warkworth

The Grange, 67 Auckland Rd, unit 11:
Features: 59m², Fish Nets fish & chips shop on 10-year lease in new retail development
Rent: $30,975/year net + gst
Outcome: passed in at $480,000
Agents: Matt Lee, Jan Hutcheson & James Chan

North-east

Albany

75 Corinthian Drive, unit L1:
Features: 197m² first-floor office, new 6-year lease in place with renewal rights, 5 parking spaces
Rent: $58,800/year net + gst + outgoings
Outcome: sold for $1.095 million
Agents: Jane Sims & Tonia Robertson

Birkenhead

Updated: 100 Hinemoa St:
Features: 757m² corner site, 421m² 2-storey building
Rent: $103,907/year net + gst from 6 tenancies
Outcome: passed in at $2.7 million, sold post-auction for $2.7 million
Agents: Simon Aldridge & David Huang

27-33 Mokoia Rd, units 4, 5 & 7:
Features: 59m² total, 3 strata units next to Highbury mall, tenants are a dry cleaner & kebab shop, third unit vacant
Agents for all 3: Michael Nees, Owen Ding & Oscar Kuang
Unit 4, vacant:
Outcome: passed in at $300,000
Unit 5, kebab shop:
Rent: $24,000/year net + gst, lease running to 2030
Outcome: passed in at $470,000
Unit 7, dry cleaners:
Rent: $18,942/year net + gst, lease 6 years from last October
Outcome: passed in at $300,000

225 Onewa Rd:
Features: cross-lease, 1/3 share in 913m², vacant ex-surgery, 5 parking spaces
Outcome: sold for $650,000
Agents: Michael Nees, Owen Ding & Oscar Kuang

Rosedale

7 Vega Place, unit E:
Features: 272m² industrial unit,
Rent: $52,000/year net + gst from established tenants on new leases
Outcome: sold for $980,000
Agents: James Kidd & Matt Mimmack

Silverdale

1 Polarity Rise, ground floor:
Features: 145m², 2 shops on 2 titles for sale as one
Rent: $61,966.70/year net + gst + opex
Outcome: passed in
Agents: Ashton Geissler, Eddie Zhong & Mustan Bagasra

Takapuna

424 Lake Rd:
Features: 3 tenancies
Rent: $61,950/year net + gst, rising to $63,383 in November,
Outcome: sold for $1.5 million
Agents: Michael Nees & David Huang

Wairau Valley

107 Wairau Rd:
Features: 1184m² site, 13-year-old car dealership Car7, 40m² office 
Rent: $63,600/year net + gst, redevelopment potential up to 20m height limit
Outcome: sold for $2.8 million at $2365/m²
Agents: Brian Caldwell & Ranjan Unka

North-west

Henderson

Lincoln North Shopping Centre, 192 Lincoln Rd, unit A1:
Features: 756m² retail unit, 7-year lease to Supercheap Auto from July 2016
Rent: $212,292.82/year net + gst
Outcome: sold for $4 million at a 5.3% yield
Agents: Matt Lee, Tony Chaudhary & James Chan

373 Great North Rd:
Features: 808m² corner site, 1240m² floor area, BNZ as tenant on lease to 2020 with further renewal rights, basement parking
Rent: $219,360/year net + gst + opex, rent review in December
Outcome: sold for $4 million
Agents: Mike Adams & Laurie Burt

South

East Tamaki

44D Andromeda Crescent:
Features: 400m² industrial unit – high stud, clearspan warehouse 300m², office/amenities 40m², mezzanine 60m²
Outcome: sold for $735,000
Agents: Nelson Raines

Mangere Bridge

19 Coronation Rd:
Features: 273m² town centre site, 160m² bank branch, seismic rating 67% of new building standard
Rent: $34,000/year net + gst
Outcome: sold for $973,000
Agents: Nicolas Ching & Beterly Pan

South of the Bombays

Hawke’s Bay

Napier, Onekawa

Deco City Motor Lodge, 308 Kennedy Rd:
Features: 2682m² site, 30 studios and 1- & 2-bedroom units, conference suite, manager’s quarters, freehold going concern, Qualmark 4.5 stars, in Host Accommodation Group, seismic rating 80% of new building standard
Outcome: no bid
Agents: Paul Dixon, Daniel Moffitt & Carolyn Hanson

Attribution: Company release.

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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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Bendon showroom sells at auction but 3 other properties fail to attract a bid

A Bendon Retail showroom in Otara sold on a 4.4% yield at Barfoot & Thompson’s commercial auction yesterday.

2 retail assets in an Avondale shopping centre building – one with some residential potential and both with a 32.5m height limit through their town centre zoning under the new unitary plan – were passed in without a bid. A Ponsonby office unit also failed to attract a bid.

Isthmus west

Avondale

1976 Great North Rd, unit 5:
Features: 140m², ground-floor retail unit with 10 years to run on lease
Rent: $49,735/year net + gst
Outcome: declared reserve $695,000, no bid
Agents: Reese Barragar & Colin Stewart

1976 Great North Rd, unit 6:
Features: 227m², 3 tenants – 2 retail + unconsented residential
Rent: $75,400/year gross
Outcome: declared reserve $895,000, no bid
Agents: Reese Barragar & Colin Stewart

Ponsonby

70 Ponsonby Rd, unit G5:
Features: office unit, 2 large signboards & secure parking space, on ground floor of the Quest apartment complex
Rent: $42,640/year net + gst on new long-term lease
Outcome: no bid, back on market at $898,000 + gst
Agents: Reese Barragar & Murray Tomlinson

South

Otara

18 Birmingham Rd:
Features: 1143m² section, 602m² building; Bendon Retail Ltd, tenant since 1999, is on 2-year lease with one more 2-year right of renewal
Rent: $53,857/year net + gst
Outcome: sold for $1.211 million at a 4.44% yield on current rent
Agents: James Marshall & Murray Tomlinson

Attribution: Auction.

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