Archive | Pt Chevalier

6 intensive homes sell at Barfoots

6 of the 12 intensive homes (apartments, suburban units & cross-leased houses) auctioned at Barfoot & Thompson’s city office on Wednesday were sold under the hammer.

17 of the 38 residential properties auctioned in the day’s 2 sessions were sold under the hammer or shortly after.

CBD

Learning Quarter

Waldorf Bankside, 8 Bankside St, unit 8C:
Features: one-bedroom apartment
Income assessment: $400/week current
Outcome: sold for $288,000
Agents: Rain Diao & Beili Yi

Isthmus east

Grafton

49I Seafield View Rd:
Features: one-bedroom apartment, carport
Outcome: sold for $300,000
Agent: Alex Baker

One Tree Hill

55 Rawhiti Rd, unit 4:
Features: cross-lease, 1/5 share in 981m², 2-bedroom unit
Outcome: passed in at $660,000, sold shortly after auction
Agents: Cici Wang & Helen Lin

Panmure

30 Ireland Rd, unit 1:
Features: 2-bedroom unit, internal-access garage
Outcome: sold for $656,000
Agents: Margaret Johnston & Phyllis Brooks

Remuera

658 Remuera Rd, unit 2:
Features: 2-bedroom unit, deck, 2 garages
Outcome: sold for $1.08 million
Agents: Paul Robertson & Maree Currie

Isthmus west

Herne Bay

24A Hamilton Rd, unit 3:
Features: 2-bedroom unit, balcony, courtyard, carport
Outgoings: body corp levy $3892/year
Outcome: sold for $700,000
Agent: Felicity Scott

Mt Albert

103A St Lukes Rd, units 1-6:
Features: 1590m² section, 6 remodelled 3-bedroom units, offstreet parking
Outcome: passed in
Agents: George Fong & Laura McAuley

Mt Eden

13 Bank St:
Features: cross-lease, half share in 1387m², 3-bedroom bungalow
Outcome: no bid
Agents: Vern Hines & Sara Knight

11B Horeka Avenue:
Features: cross-lease, 1/3 share in 1283m², 3-bedroom house, garage
Outcome: passed in
Agents: Leonie Stabler & Di Lynds

Pt Chevalier

10 Walmer Rd:
Features: cross-lease, half share in 695m², 3-bedroom bungalow, garage
Outcome: no bid
Agent: Travis Nicholls

Westmere

11D Garnet Rd:
Features: 2-bedroom apartment, balcony, secure internal-access double garage
Outcome: sold for $1.01 million
Agents: Carl & Roseanne Madsen

South

Manurewa

144, 144A & 144B Browns Rd:
Features: 2939m², 3 homes on separate titles, consent for 12 dwellings
Income assessment: $68,000/year current
Outcome: no bid
Agents: Thomas & Helen Weber

Attribution: Auctions.

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Commercial property & 2 apartments sell as 8 units passed in

The one commercial property on Barfoot & Thompson’s city auction list this morning, an early learning centre, was sold under the hammer, followed by a slow journey as 8 apartments were passed in. Then, breaking the run at the end of the auction, the last 2 apartments sold (they’re listed below by location, not by auction list order), in the Cintra (pictured) off Symonds St and a unit in Zest.

Apartments

CBD

Commerce/Gore

Harbour Oaks, 16 Gore St, unit 33H:
Features: 2 bedrooms, secure parking space
Outgoings: body corp levy $5345/year
Outcome: passed in at $512,000
Agents: Wendy Feng & Jack Li

Learning Quarter

Crown on Cintra, 3 Whitaker Place, unit 16C:
Features: 39m² studio, study, balcony, parking space, leaky issues identified
Outgoings: body corp levy $4155/year
Outcome: sold for $222,000
Agents: Oscar Zhao & Leo Shin

Uptown

Q Central, 54 Liverpool St, unit 7B:
Features: leasehold, 64m² 2-bedroom penthouse, balcony
Outgoings: rates $1582/year including gst; body corp levy $3549/year, ground rent $7642/year
Income assessment: $450/week
Outcome: passed in at $115,000
Agents: Zoran Farac & Stephen Shin

Bianco off Queen, 8 White St, unit 9C:
Features: 54m², 2 bedrooms, balcony
Outgoings: body corp levy $6561/year
Income assessment: $600/week
Outcome: passed in at $480,000, back on the market at $538,000
Agents: Annie Xu & Sean Zhang

Victoria Quarter

88 Cook St, unit 7:
Features: 148m², 2 levels, 3 bedrooms, living area on each floor, 2 secure parking spaces
Outgoings: body corp levy $3003/year
Outcome: no bid
Agent: Sean Lee

Hobson Gardens, 205 Hobson St, unit 5H:
Features: 140m², 3 bedrooms, 2 bathrooms, study, parking space
Outgoings: body corp levy $6167/year excluding water
Outcome: no bid
Agents: Stephen Shin & Yasu Ka

Zest, 72 Nelson St, unit 1028:
Features: 48m², 2 bedrooms, 2 bathrooms, balcony, parking space
Outgoings: body corp levy $5774/year
Income assessment: $450/week
Outcome: sold for $450,000
Agents: Wendy Feng & Jack Li

Alpha, 17 Vogel Lane, unit 1102:
Features: 46m², one bedroom, balcony, parking space
Outgoings: rates $1457/year including gst; body corp levy $4460/year
Outcome: no bid, back on market at $569,000
Agents: Stephen Shin & Justin Choi

Kingsbridge, 72 Wellesley St, unit 30:
Features: 2 bedrooms, wraparound balconies, parking space
Outcome: passed in at $550,000
Agents: Rita Herceg & Alex Allan

Waterfront

Quay Regency, 148 Quay St, unit 7C:
Features: one bedroom
Outgoings: body corp levy $4154/year
Outcome: passed in at $405,000
Agents: Alex Allan & Rita Herceg

Commercial

Isthmus west

Pt Chevalier

90 Pt Chevalier Rd:
Features: 639m² corner site, 110m² building, early learning centre
Outcome: sold for $1.36 million
Agents: Duane Mullooly & Chris Peterson

Attribution: Auction.

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3 apartments & 6 cross-leases among Barfoot sales

12 of the 28 residential properties auctioned at Barfoot & Thompson’s city office yesterday were sold under the hammer.

They included 6 of the 10 cross-leased homes and all 3 apartments – one apartment the mortgagee sale of a unit in Metropolis, one on Khyber Pass and the third in Kings Square, Newmarket (pictured above).

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2101 (21A):
Features: one-bedroom apartment
Outcome: sold at mortgagee auction for $372,000
Agent: Philip Davis

Isthmus east

Glendowie

2A Monterey St:
Features: cross-lease, half share in 791m², 153m² 3-bedroom townhouse, 2 bathrooms, courtyard, double garage
Income assessment: $760/week current
Outcome: no bid
Agent: Kelly Midwood

Glen Innes

10A Courtland Avenue:
Features: cross-leased 1813m², 3 bedrooms, deck, carport
Outcome: no bid
Agent: Shane Anderson

Meadowbank

1 Hawkins St:
Features: cross-lease, half share in 728m², 105m² 2-bedroom duplex, deck, offstreet parking
Outcome: sold for $885,000
Agents: Michael & Tatyana Ataman

30A Hawkins St:
Features: cross-lease, half share in 660m², 2 bedrooms, carport
Outcome: sold for $862,000
Agents: Trevor Wyness & Louise Barnsley

Newmarket

373 Khyber Pass Rd, unit 3:
Features: studio, courtyard
Outgoings: body corp levy $3049/year
Outcome: sold for $381,000
Agent: Cici Wang

Kings Square, 26 Remuera Rd, unit 718:
Features: 100m², 3-bedroom apartment, 2 bathrooms, 2 basement parking spaces
Outgoings: body corp levy $4617/year
Outcome: sold for $1 million at pre-auction auction
Agents: Cici & Miro Wang

Onehunga

Somerset Gardens, 53 Mays Rd, unit 9:
Features: cross-lease, 1/13 share in 5096m², 3 bedrooms, internal-access garage
Outcome: sold for $795,000 at auction brought forward
Agents: Leonie Stabler & Di Lynds

Parnell

21B Cathedral Place:
Features: cross-lease, 1/3 share in 1719m², 3-bedroom townhouse, 2 bathrooms, study, 3 living areas, patios, decks, double garage
Outcome: sold for $1.735 million
Agents: Jill Jackson & Emma John

73 Gibraltar Crescent:
Features: 3-bedroom townhouse, 2 bathrooms, deck, double garage
Outgoings: body corp levy $1973/year
Outcome: no bid
Agents: George Fong & Laura McAuley

Pt England

38 & 38A Tamatea Avenue:
Features: both halves of a 787m² cross-lease, 3 bedrooms, deck, garage
Outcome: passed in at $850,000
Agents: George Fong & Amy Xiong

Royal Oak

14 Campbell Rd, unit 2:
Features: cross-lease, 1/6 share in 1206m², 2-bedroom unit, garage
Outcome: sold for $730,000
Agent: Sylvia Lu

Isthmus west

Pt Chevalier

220 Pt Chevalier Rd, unit 2:
Features: cross-lease, half share in 609m², 3 bedrooms, deck, carport
Outcome: sold for $1.21 million
Agent: Felicity Scott

North-west

Henderson

1 Ribblesdale Rd, unit 3;
Features: cross-lease, 1/7 share in 2023m², 2-bedroom unit, carport, storage unit
Outcome: no bid, back on market at $480,000
Agent: Grant Hetherington

South

East Tamaki

9 Haven Drive:
174m² townhouse on 147m² section, 2 bedrooms, double garage, courtyards
Outcome: sold for $632,000
Agents: Thomas & Helen Weber

Attribution: Auctions.

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Updated: Strong yields as 14 sell at Bayleys’ commercial auction, 3 post-auction sales

Published 2 December 2016, updated 5 & 12 December 2016:
Strong yields were a feature as 14 of the 27 properties taken to auction in Bayleys’ final Total Property portfolio for the year were sold under the hammer on Wednesday.

They included 3 units sold in stage 3 of the Grange development (pictured) at the southern entrance to Warkworth, and another one sold post-auction.

2 other properties have been sold post-auction – a unit on Amera Place, East Tamaki, and a property on Moore St, Howick, sold on a 4.1% yield.

CBD

Federal St

205 Federal St, unit R1:
Features: 60m², one of only 2 retail tenants in Federal City apartment building, 8-year lease from July 2014
Rent: $29,120/year net + gst
Outcome: passed in at $475,000
Agents: Piyush Kumar & Oscar Kuang

Learning Quarter

23 Whitaker Place, units 110 & 111:
Features: 120m² unit, suitable for restaurant
Rent: $23,478.26/year from tenant on 3-year lease from 1 August 2014
Outcome: sold for $150,000
Agents: Nicolas Ching & Beterly Pan

Queen St

Mid-City, 239 Queen St, unit 2A:
Features: 282m² floor area on first floor, tenant the Ryo Japanese restaurant, 6-year lease, 2 rights of renewal
Rent: $120,000/year average from 6-year lease
Outcome: no bid
Agents: Graeme Sun & Oscar Kuang

Uptown

3 shops & gym of 14 ground-floor commercial units in the Summit on Symonds apartment conversion building, next to the Langham Hotel at the corner of Karangahape Rd & Symonds St:

105 Symonds St, shop 5, Nata Portuguese Bakery:
Features: 69.47m², 6-year lease
Rent: $49,400/year net + gst
Outcome: passed in at $500,000
Agents: Millie Liang

105 Symonds St, shop 9, laundromat:
Features: 43.41m², self-service laundromat, 8-year lease
Rent: $30,387/year net + gst
Outcome: passed in at $350,000
Agents: Millie Liang

105 Symonds St, shop 11, The Corner Café:
Features: 68.39m², 8-year lease
Rent: $47,873/year net + gst
Outcome: passed in at $500,000
Agents: Millie Liang

103-105 Symonds St, unit 15, Anytime Fitness:
Features: m², 10-year lease, beside the entrance to the Langham Hotel
Rent: $184,000/year net + gst
Outcome: withdrawn from auction
Agents: Millie Liang

Isthmus east

Onehunga

106 Beachcroft Avenue:
Features: 692m² site, 431m² standalone warehouse & office building
Outcome: sold vacant for $1.505 million
Agents: James Valintine & Graeme Moore

255 Onehunga Mall:
Features: 379m² site, Cotton On Clothing (NZ) Ltd on 8-year lease from 15 August with one 8-year right of renewal
Rent: $110,000/year + gst + outgoings, 3%/year rental growth
Outcome: sold for $2.21 million at a 4.98% yield
Agents: Tony Chaudhary & Damien Bullick

Otahuhu

121 Church St:
Features: 731m² site zoned terrace housing & apartment building, 138m² floor area, medical centre on 5-year lease from October 2015
Rent: $48,000/year + gst + outgoings
Outcome: declared reserve of $800,000, sold prior for $933,000 at a 5.14% yield
Agents: Tony Chaudhary & Janak Darji

Panmure

141-157 Queens Rd:
Features: 2963m² site on 2 titles, 1464m² floor area, 35 parking spaces, residential potential under the unitary plan, 27m height limit
Rent: $357,000/year net + gst
Outcome: no bid
Agents: Mark Pittaway

Penrose

419B Church St East:
Features: 1596m² industrial site, 25 parking spaces, 8-year head lease to Southpark Corp Ltd from 1 November 2015
Rent: $25,485/year net + gst
Outcome: passed in after vendor bid at $3.7 million
Agents: James Hill & Ben Bayley

Isthmus west

Morningside

4 Taylors Rd:
Features: 809m² site zoned mixed use, 585m² office & high stud warehouse
Outcome: sold vacant for $2.9 million
Agents: Scott Kirk & James Were

Pt Chevalier

1191 Great North Rd:
Features: 226m² retail, occupied by optometrist & osteopath
Rent: $83,900/year
Outcome: sold for $1.55 million at a 5.4% yield
Agents: Owen Ding & Quinn Ngo

North-east

Birkenhead

268 Onewa Rd, unit 10A:
Features: 125m², office & residential tenancies, town centre zoning, 2 parking spaces
Rent: $23,464.57/year net + gst + outgoings
Outcome: withdrawn from auction
Agents: Tonia Robertson & Chris White

Torbay

934 Beach Rd:
Features: cross-lease, 1/3 share in 1072m², 140m² beachfront retail, only business-zoned property on the Torbay/Waiake beachfront, taken to auction by the Official Assignee under the Criminal Proceeds (Recovery) Act
Outcome: sold for $1.8 million
Agents: Damian Stephen & Adam Curtis

Warkworth

4 units in stage 3 of the Grange, 67 Auckland Rd, development by Square & Main St Ltd (Adam Reynolds), stages 1 & 2 both fully sold
Agents: Matt Lee, Quinn Ngo, Jan Hutcheson & James Chan, and Paul Dixon on unit 14

Unit 5A, Cizzlin:
Features: 128.3m², 8-year lease
Rent: $65,000/year net + gst
Outcome: sold for $1.005 million at a 6.47% yield

Unit 13B, The Grange Bakery:
Features: 76.8m², 5-year lease
Rent: $30,000/year net + gst
Outcome: sold for $560,000 at a 5.34% yield

Unit 11, Fish Nets:
Features: 59m², 10-year lease
Rent: $30,975/year net + gst
Outcome: sold for $565,000 at a 5.48% yield

Updated: Unit 14, Green Bay Fruit & Veg:
Features: 297.2m², 8-year lease
Rent: $92,500/year net + gst
Outcome: passed in after vendor bid at $1.25 million, sold post-auction for $1.365 million at a 6.77% yield

Unit 22, Cross Gate Variety Store:
Features: 373.7m², 6-year lease
Rent: $86,700/year net + gst
Outcome: withdrawn from auction

North-west

Henderson

349 Great North Rd:
Features: 276m² site, 10-year lease from July
Rent: $50,000/year net + gst
Outcome: sold for $1.045 million at a 4.8% yield
Agents: Mike Adams & Laurie Bell

Lincoln North shopping centre, 192 Lincoln Rd, unit B4:
Features: 60.12m², retail unit, new 5-year lease to OPSM
Rent: $22,545/year net + gst
Outcome: sold for $465,000 at a 4.85% yield
Agents: Matt Lee & Quinn Ngo

South

East Tamaki

Updated: 12 Amera Place, unit 5:
Features: 105m² unit, 6-year lease starting this month
Rent: $50,150/year net + gst + outgoings
Outcome: passed in at $900,000, sold post-auction for $910,000 at a 5.5% yield
Agents: Katie Wu & John Bolton

9-11 Nandina Avenue:
Features: 2 titles, each of 2552m², metalled & flat, 74m road frontage, business 5 zoning
Outcome: sold for $2.86 million
Agents: John Bolton & Katie Wu

Howick

Updated: 8-14 Moore St:
Features: 875m² site zoned business town centre under unitary plan, 590m² floor area, 6 tenancies
Rent: $94,262.74
Outcome: passed in at $2.11 million, sold post-auction for $2.3 million at a 4.1% yield
Agents: Tony Chaudhary & Janak Darji

Manukau

Pacific Retail Centre, 792 Great South Rd, unit 6:
Features: 89m² Subway restaurant
Rent: $39,367.45/year net + gst + outgoings
Outcome: passed in at $750,000
Agents: Terry Kim & Janak Darji

52-58A St George St:
Features: 971m² in 2 titles zoned town centre under unitary plan, 2 tenants,
Rent: $80,040/year + gst
Outcome: no bid
Agents: Oscar Kuang & James Chan

Pukekohe

1722 & 1748 Buckland Rd:
Features: 14.4336ha in 2 titles overlooking Pukekohe racetrack, zoned future urban, proposed light industrial, has 3-bedroom house & 2-bedroom cottage
Outcome: no bid
Agents: Shane Snijder & Peter Migounoff

South of the Bombays

Coromandel

Whitianga

17 Monk St:
Features: 516m² site, 800m² floor area – 4 shops in 335m² on ground floor, plus carport, 2 apartments in 376m² upstairs licensed as traveller accommodation, plus 60m² deck & terrace; separate studio & workshop
Rent: about $53,000/year net
Outcome: sold for $1.03 million at a 5.15% yield
Agent: Noel Rogers

Hawke’s Bay

Napier

359 Marine Parade:
Features: 1413m² site, 20 self-contained motel units + manager’s accommodation
Rent: $225,750/year + gst from motel lease running until 2040
Outcome: sold for $3.75 million at a 6% yield
Agents: Paul Dixon & Sam MacDonald

Attribution: Auction.

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The $1 million property, and the intensive auction results

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

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

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

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

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

CBD

Learning Quarter

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

Quay Park

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

Isthmus east

Ellerslie

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

Epsom

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

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

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

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

Glendowie

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

Greenlane

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

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

Meadowbank

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

Mission Bay

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

Mt Wellington

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

Onehunga

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

Remuera

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

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

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

St Heliers

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

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

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

St Johns

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

Isthmus west

Kingsland

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

Mt Eden

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

Mt Roskill

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

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

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

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

Pt Chevalier

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

Waterview

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

North-west

Henderson

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

South

Pakuranga

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

Attribution: Auctions.

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Suburban units sell

2 units in Herne Bay (pictured) & Pt Chevalier and a double offering of an apartment & studio in the Bianco off Queen in the cbd were sold at Bayleys’ residential auction on Wednesday.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2312:
Features: 2 bedrooms, storage locker, parking space
Outgoings: rates $1912/year including gst; body corp levy $9212/year
Outcome: passed in at $775,000
Agents: Julie Prince & Diane Jackson

Uptown

Bianco off Queen, 8 White St, unit 6A:
Features: 2 apartments on one title, one of 2 bedrooms and the other a studio, secure parking space
Outgoings: body corp levy $9092/year
Outcome: sold for $650,000
Agents: Dave Hamlyn & Walter Thompson

Waterfront

148 Quay St, unit 11C:
Features: 3 bedrooms, 3 bathrooms, secure parking space
Outgoings: rates $3597/year including gst; body corp levy $12,307/year
Outcome: passed in (vendor bid at $1.2 million)
Agents: Julie Prince & Diane Jackson

Isthmus east

St Heliers

24 Auckland Rd, unit 4:
Features: cross-lease, 1/6 share in 834m², 2 bedrooms, parking space
Outgoings: rates $2578/year including gst
Outcome: passed in at $950,000
Agents: Chris Reeves

Isthmus west

Herne Bay

2 Herne Bay Rd, unit 4:
Features: cross-lease, 1/8 share in 645m², one-bedroom unit
Outcome: sold for $800,000
Agents: Chris Batchelor

Pt Chevalier

209A Pt Chevalier Rd:
Features: cross-lease, half share in 673m², 2-bedroom unit
Outcome: sold for $764,000
Agents: Murray Savage

North-west

Henderson

16 Frank Evans Place, unit 1:
Features: cross-lease, half share in 915m², 2-bedroom townhouse, covered deck, lockup carport
Outcome: no bid, back on market at $529,000
Agents: Jeannette Young-Smith & Richard Cadness

Te Atatu South

132 Edmonton Rd, unit 3:
Features: cross-lease, 1/3 share in 1297m², 3 bedrooms, parking space
Outcome: passed in at $650,000
Agents: Jock Kooger & Lisa Girvan

Attribution: Auction.

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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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11 of 31 “intensive” properties sell at Barfoots auctions

Details below are on 31 properties offered at Barfoot & Thompson’s auctions last Wednesday & Thursday which fit my description of at least slightly intensive – apartments, townhouses, terraces, and many of them on cross-leases.

They were among a total 76 residential properties auctioned at 3 sessions, excluding the apartment-specific session on Wednesday (link below), another 17 which were sold prior and 2 withdrawn.

11 of the 31 were sold under the hammer and no bid was offered on another 12.

Isthmus east

Ellerslie

8 Eaglehurst Rd, unit 3:
Features: 2-level townhouse, 3 bedrooms, deck
Outgoings: body corp levy $2915/year
Outcome: no bid
Agent: Wendy Sadd

39 Marua Rd, unit 3:
Features: cross-lease, one-third share in 1012m², 3 bedrooms, courtyards
Outcome: no bid
Agents: Heath Jones & John Hight

Epsom

14 Cornwall Park Avenue, unit 3:
Features: cross-lease, one-6th share in 1384m², 2-bedroom unit, garage
Outcome: sold for $892,000
Agents: Dong & Lucca Liu

Greenlane

3A Irirangi Rd:
Features: cross-lease, half share in 814m², 4 bedrooms, internal-access garage
Outcome: no bid
Agent: Debbie-Lee Wallace

85A Wheturangi Rd:
Features: 2-bedroom unit
Outcome: sold for $800,000
Agents: Leila MacDonald & Michael Bacher

Meadowbank

109 Gowing Drive, units 1-4:
Features: 4 2-bedroom units on one title
Outcome: passed in at $1.86 million
Agent: Brett Innes

Mission Bay

131B Selwyn Avenue:
Features: 3-bedroom unit, garage
Outcome: sold for $975,000
Agent: Thomas Weber

Mt Wellington

8-10 Roslyn Rd:
Features: 1629m² section, 6 units – 4 of 2 bedrooms, one of 3 & one of 4 bedrooms, 5 carports, onsite parking for 10 cars
Outcome: sold for $3.46 million
Agents: Yi Wei Lowndes & Eric Zhu

Onehunga

121 Galway St:
Features: 12-bedroom boarding house, 5parking spaces + offstreet parking, basement storage
Outcome: no bid
Agent: Kevin Liu

93C Mays Rd:
Features: 2-level 2-bedroom terrace, offstreet parking
Outcome: no bid
Agents: Sue Ma & Hattie Huo

69 Trafalgar St:
Features: cross-lease, one-third share in 1819m², 4 bedrooms
Outcome: passed in
Agent: Neil Dayal

104A Victoria St, unit 3:
Features: cross-lease, one-6th share in 1325m², 2-bedroom unit, carport, storage
Outcome: passed in
Agent: Jannette Wouters

One Tree Hill

53 Mariri Rd, unit 2:
Features: cross-lease, half share in 626m², 3 bedrooms
Outcome: sold for $626,000
Agents: Wayne Guo & Coco Wang

Panmure

51 Ireland Rd, unit 64:
Features: 3-bedroom terrace, tandem garage
Outcome: passed in
Agent: Rain Diao

Remuera

Broadway Park, D’Urville complex, 38 James Cook Crescent, unit GA:
Features: 2-bedroom apartment, 2 secure parking spaces
Outgoings: body corp levies $4297 & $1748/year for unit & parking
Outcome: sold for $810,000
Agents: Christine Wooding & Joanne Yu

Royal Oak

639 Mt Albert Rd, unit 1:
Features: cross-lease, one-third share in 1325m², 2 bedrooms, double garage
Outcome: no bid
Agent: Craig Smith

St Heliers

121A Maskell St:
Features: cross-lease, half share in 809m², 3-bedroom bungalow
Outcome: no bid
Agents: John Yao & Amy Liu

Isthmus west

Avondale

84 St Georges Rd, unit 2:
Features: cross-lease, one-third share in 979m², 3-bedroom unit, deck
Outcome: passed in
Agents: Bella Stefano & Sherry Shao

Grey Lynn

Aston, 332 Great North Rd, unit 18:
Features: 2-level apartment, 2 bedrooms, 2 bathrooms, deck, private courtyard, internal-access double garage
Outgoings: rates $2195/year including gst; body corp levy $4364/year
Outcome: sold for $934,000
Agents: Ryan Harding & Matt O’Rourke

59 Williamson Avenue:
Features: 5-bedroom villa converted into 2 flats, double garage, gardens, 2 decks
Outcome: passed in
Agents: Matt O’Rourke & Ryan Harding

Mt Eden

69 View Rd, unit 5:
Features: cross-lease, one-6th share in 769m², 2-bedroom unit
Outcome: no bid
Agent: Dee Brennan

41 Grange Rd, unit 1:
Features: cross-lease, one-12th share in 1399m², one-bedroom unit
Outcome: sold for $520,000
Agent: Mark Molloy

736 Mt Eden Rd, unit 3:
Features: cross-lease, one-12th share in 2023m², 2-bedroom unit, storage unit, offstreet parking
Outcome: passed in
Agents: James Yu & Danny Upton

Mt Roskill

1338 & 1338A Dominion Rd:
Features: cross-lease, 2 half shares in 799m², 2 homes of 2 & 3 bedrooms
Outcome: no bid when offered together and separately
Agents: Sejal Patel & Jeff Stretton

369 Richardson Rd:
Features: cross-lease, half share in 829m², 3 bedrooms, double carport
Outcome: no bid
Agent: Kim Tilly

Pt Chevalier

52 St Michaels Avenue, unit 4:
Features: cross-lease, quarter share in 876m², 2-bedroom unit, garage
Outcome: sold for $825,000
Agent: Dan Reed

Sandringham

7 Begbie Place, unt 2:
Features: 2-bedroom unit, carport
Outcome: no bid
Agent: Tom Wang

Three Kings

10 Churches Avenue:
Features: one-bedroom home + 2-bedroom flat
Outcome: sold for $1.43 million
Agents: Kam & Yogesh Dahya

Westmere

66 Larchwood Avenue, unit 6:
Features: 3 bedrooms, internal-access garage
Outgoings: body corp levy $1234/year
Outcome: passed in
Agents: Luke Dallow & Michael Rawlence

North-west

Glen Eden

4 Kotinga Avenue, unit 1:
Features: cross-lease, quarter share in 2008m², 3 bedrooms, deck
Outcome: no bid
Agent: Daisy Hu

West Harbour

3 Holmes Drive:
Features: cross-lease, half share in 916m², 140m² house, 3 bedrooms, internal-access double garage
Outcome: sold for $727,000
Agents: Lin Qiu & Patrick Yang

Attribution: Auctions.

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9 apartment & suburban unit sales at auction

An apartment on the city side of Grafton & 6 suburban units were sold at Barfoot & Thompson’s residential auction yesterday afternoon, and 2 units in Remuera sold at the end of the agency’s Wednesday auction.

CBD

Learning Quarter

Columbia, 15 Whitaker Place, unit 9D:
Features: fully furnished 3-bedroom apartment
Outgoings: body corp levy $5732/year
Outcome: sold for $240,000
Agents: Nina Wo & Thomas Tang

Isthmus east

Newmarket

26 Remuera Rd, unit 512:
Features: 3-bedroom apartment, balcony, 2 secure parking spaces
Outgoings: body corp levy $4041/year
Outcome: sold for $991,000
Agents: Mark Tung & MiHong Mi

Onehunga

37B Brookfield Avenue:
Features: 2-bedroom unit, internal-access garage
Outgoings: body corp levy $1164/year
Outcome: sold for $773,000
Agent: Les Walbridge

141 Selwyn St, unit 3:
Features: 3-bedroom unit, sunroom, single garage
Outcome: sold for $830,000
Agents: Scarlett Ouyang & Jennifer Soulsby

44 Spring St, unit 4:
Features: m², 2-bedroom unit, carport
Outcome: passed in
Agent: David Chen

Parnell

10 Augustus Terrace, unit 3A:
Features: 3-bedroom apartment, balcony, 2-car garaging
Outgoings: body corp levy $12,875/year
Outcome: sold for $1.125 million
Agent: Tristan Young

Remuera

13 Armadale Rd, unit 7:
Features: 2-bedroom unit, carport
Outcome: no bid
Agents: Rean Khoo & Karen Cheng

18 Joseph Banks Terrace, unit 2D:
Features: one-bedroom apartment, parking space
Outcome: sold for $770,000
Agent: Cici Wang

Royal Oak

50 Turama Rd, unit 3:
Features: cross-lease, one-6th share in 1556m², 2-bedroom duplex unit, internal-access garage
Outcome: sold for $860,000
Agent: Mitch Owens

Isthmus west

Pt Chevalier

57 Pt Chevalier Rd, unit 12:
Features: 2-bedroom unit, courtyard, offstreet parking
Outcome: sold for $702,000
Agent: John Gray

North-west

Glen Eden

28 West Coast Rd, unit 1:
Features: 2-bedroom unit, single carport
Outcome: passed in
Agents: James Ju & Jane Li

Henderson

152 Lincoln Rd, unit 1:
Features: cross-lease, one-third share in 860m², 2 bedrooms, internal-access garage
Outcome: sold for $605,000
Agent: Jenny Feng

Attribution: Auctions.

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12 suburban units sell at Barfoots auctions

Barfoot & Thompson sold all 4 units & cross-leases in the eastern suburbs at auction yesterday, and 8 of the 10 in the west of the isthmus and out to New Lynn.

Isthmus east

Glendowie

5 Crossfield Rd, unit 1:
Features: cross-lease, half share in 1067m², 2-bedroom unit, single garage + offstreet parking
Outcome: sold for $933,000
Agent: Teresa Weiss

Meadowbank

146 St Johns Rd, unit 6:
Features: one-bedroom unit, patio, offstreet parking space
Outcome: sold for $575,000
Agent: Liz Derbyshire

Remuera

48 St Vincent Avenue, unit 1:
Features: 3-bedroom unit, deck, double garage
Outcome: sold for $1.145 million
Agents: Frances Li & Ian Thornhill

Royal Oak

24L Mt Smart Rd:
Features: 3- bedroom terrace, private back yard, single internal-access garage
Outcome: sold for $812,000
Agent: Kelly Zhang

Isthmus west

Avondale

18C Esmeralda Avenue:
Features: cross-lease, one-17th share in 8933m², 3-bedroom house, 2 bathrooms, deck, double internal-access garage
Outcome: sold for $760,000
Agents: Clara Wu & Shirley Zhong

Eden Terrace

Devon, 6 Piwakawaka St, unit 2E:
Features: 86m², 2-bedroom apartment, 2 bathrooms, balcony, secure parking space
Outgoings: body corp levy $6019/year
Outcome: sold at pre-auction offer of $585,000
Agent: Albert Low

Grey Lynn

The Dylan, 375 Great North Rd, unit 205:
Features: 3-bedroom apartment, 2 parking spaces, storage lockers
Outgoings: body corp levy $6173/year
Outcome: sold post-auction
Agent: Felicity Scott

Mt Albert

9 Richardson Rd, unit 2:
Features: cross-lease, one-9th share in 2047m², 4-bedroom townhouse, 2 bathrooms, balcony, internal access garage, storage
Outcome: sold for $1.054 million
Agents: David Li & Hannah Wang

Mt Eden

53 Grange Rd, unit 11:
Features: cross-lease, one-12th share in 1823m², 2-bedroom unit, offstreet parking
Outcome: sold for $650,000
Agent: Robert Thompson

Mt Roskill

172 White Swan Rd:
Features: cross-lease, one-6th share in 2580m², 140m² 3-bedroom bungalow, single garage, basement, deck
Outcome: passed in, back on market at $769,000
Agent: Alex Wu

Pt Chevalier

108 Huia Rd, unit 1:
Features: cross-lease, half share in 680m², 2-bedroom unit, carport
Outcome: sold for $860,000
Agents: Ryan Harding & Matt O’Rourke

Sandringham

20 Patterson St, unit 1:
Features: cross-lease, one-fifth share in 1214m², 2-bedroom unit, carport
Outcome: sold for $670,000
Agents: Derek Helliwell & Cathy Giles

North-west

New Lynn

4 Hutchinson Avenue, unit 2:
Features: cross-lease, quarter share in 1033m², 3-bedroom unit, single carport
Outcome: passed in, back on market at $589,000
Agents: Gopika & Yogesh Kaku

4 Pimento Place:
Features: 2-bedroom unit upstairs, separate granny flat downstairs, 2 bathrooms, deck, basement garage & workshop
Outcome: sold for $785,000
Agents: Lilian Rolston & Matt O’Brien

Attribution: Auctions.

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