Archive | Isthmus west

Sales start to flow post-auction

City Sales had an unsuccessful hour in the auctionroom on Wednesday as all 6 apartments were passed in, but by the end of the afternoon had 2 sold conditionally and offers had been made on 2 more.

The 2 conditional sales were at the Zest on Nelson St and The Point on the Viaduct Basin.

The Point unit was taken to market by the receiver & manager of owner Glenys Treweek’s affairs, Tom Rodewald of Tauranga, appointed on 30 March. The apartment has 3 mortgages over it, 2 registered last year and the third registered on Monday to the owner of another unit in the building.

Ms Treweek was crowned Miss New Zealand in 1970, and in recent years was involved in property investment & the thoroughbred industry. Her partner, longtime property investor & stud owner Michael Tololi, was bankrupt from 2010-13 after creditors turned down his debt-compromise offer of $300,000 to have been paid over time on $40.3 million of debt. Ms Treweek was a director of Karaka companies Karaka Group Ltd, Stony Bridge Thoroughbreds Ltd & Twin Pines Thoroughbreds Ltd.

CBD

Quay Park

Grand Central, 26 Te Taou Crescent, unit 109:
Features: leasehold, 34m², 2 bedrooms
Outgoings: rates $1101/year including gst; body corp levy $11,652/year including ground rent
Income assessment: $385/week current
Outcome: passed in at $49,000 (excluding gst)
Agents: Tom Faye

Uptown

Hereford Residences, 8-15 Hereford St, unit 11D:
Features: 84m², 2 bedrooms, 2 bathrooms, parking available from developer at $80,000/space
Income assessment: $750-800/week
Outcome: passed in at $825,000
Agents: Tom Faye & Anna Birkenhead

Victoria Quarter

Zest, 72 Nelson St, unit 228:
Features: 32m², 2 bedrooms, deck
Outgoings: rates $1037/year including gst; body corp levy $3197/year
Income assessment: $450-500/week
Outcome: passed in at $307,000, sold conditionally post-auction, price confidential
Agents: Steve Kirk & Habeeb Urrahman

Waterfront

The Point, 121 Customs St, unit 415:
Features: leasehold, 92m², 2 bedrooms, 2 bathrooms, 24m² deck, 2 parking spaces
Outgoings: rates $3584/year including gst; body corp opex levy $9606/year, ground rent $14,079/year
Income assessment: $1100/week
Outcome: passed in at $910,000, sold post-auction conditional on vendor consent, price confidential
Agents: Gabrielle Hoffmann & Nicola Hunt

Isthmus west

Eden Terrace

Memphis, 11 Charlotte St, unit GI:
Features: 47m², one bedroom, deck, storage locker, parking space
Outgoings: rates $1169/year including gst; body corp levy $3153/year
Income assessment: $450-500/week
Outcome: passed in at $450,000
Agents: Steve Kirk & Habeeb Urrahman

North-west

New Lynn

10 Crown Lynn Place, unit 3L:
Features: 28m² studio; unallocated parking is available on the property
Outgoings: rates $853/year including gst; body corp levy $2320/year
Income assessment: $280/week
Outcome: passed in at $90,000
Agents: Trish Shanaghan

Attribution: Auction.

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Former Ponsonby fire station sale settles

Sale of the former fire station at 182 Ponsonby Rd (pictured) has settled after a tender process that closed in December, but Bayleys, which handled the sale, said the buyer hadn’t been disclosed. The brigade moved out of its station on the corner of Lincoln St last May for new premises at 134 Williamson Avenue, Grey Lynn.

Also in Ponsonby, a showroom across Ponsonby Rd has been leased.

Sale:

Isthmus west

Ponsonby

182 Ponsonby Rd:
Features: 1400m2  vacant site on corner of Lincoln Rd containing 820m2  2-level former fire station building & large rear yard currently a Wilson’s carpark; town centre zoning has 13m height limit to ensure any new development is in keeping with other buildings along Ponsonby Rd
Outcome: sold for $12 million
Agents: Cameron Melhuish & Mike Adams

Lease:

161 Ponsonby Rd, ground floor:
Features: 120mshowroom leased for 3 years plus 2 3-year rights of renewal to recycled clothing retailer
Rent: $100,000/year net + gst at $833/m2
Agent: Quinn Ngo

Earlier story:
11 November 2016: Last Ponsonby fire station goes on market

Attribution: Agency release.

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Siena Terraces & Nova en Scotia apartments sell

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

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

CBD

Learning Quarter

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

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

Uptown

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

Isthmus west

Grey Lynn

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

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

Attribution: Auction.

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Shore agents sign 9 commercial leases

Bayleys agents on the North Shore have signed 9 commercial & retail leases, 4 of them in Rosedale, 2 in Northcote and one each in Silverdale, the Wairau Valley and across the harbour bridge in Three Kings.

Leases

Isthmus west

Three Kings

528 Mt Albert Rd, unit F:
Features: 125m² office
Rent: leased in April for $24,585/year net + gst, premises rental $196.68/m²
Agents: IIdiko Meixner, Steven Liu, Eddie Zhong & Ed Donald

North-east

Northcote

3 Akoranga Drive, tenancy 10:
Features: 91.56m² retail unit, no parking
Rent: leased in March for $48,280/year net + gst – premises $45,780/year, premises rental $500/m², signage rental $2500/year
Agents: Jane Sims & John Algie

Northcote Shopping Centre, 7-9 Pearn Crescent:
Features: 170m² shop, 3 parking spaces
Rent: leased in April for $115,000/year net + gst, premises rental $676.47/m² (parking free)
Agents: James Yu & Terry Kim

Rosedale

31 Apollo Drive, unit E:
Features: 95m² office, 3 parking spaces
Rent: leased in April for $26,900/year net + gst, parking $25/space/week, net premises rental $23,000/year, $242.11/m²
Agent: Ryan Dannhauser

33 Apollo Drive unit 8:
Features: 234m² office unit, 7 parking spaces
Rent: leased in April for $64,000, parking $20/space/week, net premises rental $56,720. $242.39/m²
Agent: Alex Strever

63-65 Paul Matthews Rd, unit L:
Features: 71.5m² office, shared parking space
Rent: leased in January for $16,000/year net + gst, premises rental $223.78/m²
Agents: Steven Liu, Paul Prouse & Jane Sims

Rosedale Retail Centre, 94 Rosedale Rd, unit 11:
Features: 121m² shop, shared parking
Rent: leased in April for $60,000/year net + gst, premises rental $495.87/m²
Agents: Steven Liu & Eddie Zhong

Silverdale

6 & 6A Tavern Rd:
Features: 406m² industrial unit – warehouse 390m², office 16m²
Rent: leased in April for $70,000/year net + gst, premises rental $172.41/m²
Agent: Rosemary Wakeman

Wairau Valley

32-34 Poland Rd, unit C:
Features: 524.8m² industrial unit – warehouse 267.3m², office 257.5m², 8 parking spaces
Rent: leased in March for $95,000/year net + gst, premises rental $181.02/m² (parking free)
Agents: Trevor Duffin & Matt Mimmack

Attribution: Agency release.

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4 apartments sell at Ray White auction

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

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

CBD

Learning Quarter

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

Quay Park

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

Queen St

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

Victoria Quarter

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

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

Isthmus west

Grey Lynn

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

Attribution: Auction.

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Mt Roskill & Herne Bay units sell

2 of the 5 intensive residential properties – suburban units & townhouses and cross-leases – auctioned at Barfoot & Thompson’s city office today were sold under the hammer. In 2 auction sessions, 10 of the 24 homes were sold.

Isthmus west

Avondale

34 Victor St, unit 1:
Features: cross-lease, 1/2 share in 1029m², 2-bedroom unit, garage
Outcome: passed in
Agents: Allen Wang & Meg Jiang

Herne Bay

22 Curran St, unit 3:
Features: 3-bedroom townhouse, 2 bathrooms, double internal-access garage
Outgoings: body corp levy $6700/year
Outcome: sold for $1.51 million
Agents: Carl Madsen & George Damiris

Mt Albert

75 Richardson Rd, unit 5:
Features: cross-lease, 1/7 share in 1386m², 2-bedroom unit, large basement, garage
Outcome: passed in
Agent: James Ju

84 Taylors Rd:
Features: cross-lease, 1/3 share in 1225m², 4-bedroom house
Outcome: passed in
Agents: George Fong & Laura McAuley

Mt Roskill

542 Dominion Rd Extension, unit 1:
Features: cross-lease, 1/5 share in 1267m², 2-bedroom unit, internal-access garage
Outcome: sold for $710,000
Agents: Christine & Mark Wooding

Attribution: Auctions.

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Edinburgh Castle among 3 Bayleys sales

The refurbished Edinburgh Castle, at the top of Symonds St and the start of Eden Terrace, has been sold after a tender opened in February. Bayleys agents have also sold a mixed-use (office, retail & residential) building round the corner at the start of Mt Eden Rd and a vacant Glendene warehouse.

Image shows: The Edinburgh Castle on the Newton Rd-Symonds St corner after a complete makeover, at the centre of a widening regeneration zone that spreads from city fringe Newton & Eden Terrace and heads west along both New North & Great North Rds.

Isthmus west

Eden Terrace

215 Symonds St:
Features: 571msite on corner of Newton Rd, 150-year-old recently refurbished Edinburgh Castle Hotel, 724m2 2-level building with new 10-year lease to food & beverage and residential accommodation business
Rent: $230,000/year net + gst
Outcome: sold for $3.9 million at a 5.9% yield
Agents: Alan Haydock & Damien Bullick

Mt Eden

15-19 Mt Eden Rd:
Features: 455m² site in Grammar zone, 452m² 2-level building with 2 ground-floor retail tenants & residential tenancy above, 7 onsite parking spaces to the rear
Rent: $181,220 /year net + gst
Outcome: sold for $3.3 million at a 5.49% yield
Agent: Phil Haydock

North-west

Glendene

4 Bancroft Crescent:
Features: 2187msite, 887mindustrial building – warehousing 800m2, office 87m2, 10 parking spaces
Outcome: sold with vacant possession for $1.55 million
Agents: Bill Lissington & James Hill

Attribution: Agency release.

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Buyers baulk at Spencer price as remediation awaited

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

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

CBD

Hobson St

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

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

Isthmus west

Grey Lynn

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

North-east

Takapuna

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

Attribution: Auction.

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5 apartments sell at Bayleys auction

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

CBD

Albert St

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

Learning Quarter

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

Uptown

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

Isthmus east

Parnell

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

Remuera

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

St Heliers

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

Isthmus west

Eden Terrace

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

Grey Lynn

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

Sandringham

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

Attribution: Auction.

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2 units sell at City Sales

A unit in Forte and one of 2 leasehold apartments at Quay Park, at 8 on Quay (pictured), were sold under the hammer at City Sales’ auction yesterday. Auction of a fourth unit in Eden Terrace was postponed.

CBD

Learning Quarter

Forte, 37 Symonds St, unit 809:
Features: 46m², 2 bedrooms, deck
Outgoings: rates $1316/year including gst; body corp levy $4087/year
Outcome: sold for $420,000
Agents: Chris Bell & Lucy Piatov

Quay Park

Scene 2, 18 Beach Rd, unit 504:
Features: leasehold, 90m², 3 bedrooms, 2 bathrooms, deck, storage locker, parking space
Outgoings: rates $1671/year including gst; body corp levy $4509/year, ground rent $6215/year
Outcome: passed in at $210,000
Agents: Tania Toparea

8 on Quay, 8 Quay St, unit 14A:
Features: leasehold, 91m², 2 bedrooms, 2 bathrooms, deck, 2 parking spaces
Outgoings: rates $1623/year including gst; body corp levy $4260/year, ground rent $9994/year with review in August 2018
Income assessment: $580/week current
Outcome: sold for $122,000
Agents: Gabrielle Hoffmann & Nicola Hunt

Isthmus west

Eden Terrace

Charlotte Mews, 40 Charlotte St, unit 1B:
Features: 88m², 2 bedrooms, 2 decks, parking space
Outgoings: rates $1564/year including gst; body corp levy $2724/year
Income assessment: $500/week current
Outcome: auction postponed
Agents: Elena Tarasova

Attribution: Auction.

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