Archive | Glen Eden

Bayleys apartment action slow

Bayleys sold 2 northern beach properties under the hammer at its auction yesterday, but action in the apartment sector was slow.

A beach house at 10 Kokopu St, Omaha, sold for $1.575 million and another at 6 Breve St, Mangawhai Heads, sold for $1.125 million.

A new unit in the Hereford Residences just down from the transforming Karangahape Rd received no bid, a cross-leased unit in Mt Albert was passed in, a Glen Eden townhouse was withdrawn from the auction list and put back on the market with a price tag, and the receiver’s auction of a Parnell townhouse was postponed  fortnight.

CBD

Uptown

Hereford Residences, 8 Hereford St, unit 814:
Features: 130m² internal, 20m² covered balcony, 2 bedrooms, 2 bathrooms, 2 lounges, 2 parking spaces
Outgoings: body corp levy $5082/year
Outcome: no bid
Agents: Julie & Ellie Prince

Isthmus east

Parnell

Fox Terrace Apartments, 5-7 Fox St, unit 13:
Features: 135m², 3-level standalone townhouse, 2 bedrooms, 2 bathrooms, 2 parking spaces, ground-floor courtyard, rooftop terrace, in leaky complex which has settled with council
Outcome: taken to market by receiver, auction postponed to Wednesday 2 August
Agent: Chris Reeves

Isthmus west

Mt Albert

825 New North Rd, unit 9:
Features: cross-lease, 1/10 share in 1088m², 2-bedroom unit, parking space
Outcome: passed in at $430,000
Agents: Summer Sun

North-west

Glen Eden

94 Glengarry Rd, unit 19:
Features: 2-level 2-bedroom townhouse, deck, parking space
Income assessment: $390/week appraisal
Outcome: withdrawn from auction, back on market at $478,000
Agents: Christopher Valladares & Michelle Hicks

Attribution: Auction.

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3 ex-Masala restaurants nearly make $8 million forfeiture order price tag at auction

3 restaurants in the former Masala chain were sold for $7.875 million at Bayleys’ auction yesterday, just short of a forfeiture order made in February.

Image above: Dining room of the former Masala restaurant in Mt Eden.

A Glen Eden shop with the Mad Butcher as tenant and a Dilworth apartment at the foot of Queen St were also sold under the hammer.

The restaurants, owned by JKK Holdings Ltd (Supinder Singh & Daisy Kaur) were taken to auction by the Official Assignee under the Criminal Proceeds (Recovery) Act after Justice Rebecca Edwards agreed in the High Court to an $8 million assets forfeiture order between the Commissioner of Police and 8 companies & 2 individuals associated with the Masala restaurant chain.

Justice Edwards said in her decision approving the settlement: “The settlement sum of $8 million represents almost all of the unlawful benefit said to have been derived from the tax evasion offending. The settlement sum is expected to be met in full through the sale of restrained properties.”

The 2 individuals, Joti Jain & Rajwinder Singh Grewal, were sentenced in 2015 to home detention and ordered to pay reparations on a long list of immigration & exploitation charges.

In March, Ms Jain was reported to have left New Zealand ahead of an appeal against being deported, but she was in the auctionroom yesterday.

All 3 restaurants in Mt Eden, Stanmore Bay & Birkenhead attracted multiple bidders. The properties were marketed for sale on an “as is where is” basis and subject to occupancy.

Apartments

CBD

Queen St

Dilworth, 22 Queen St, unit 5L:
Features: one bedroom, high stud
Outcome: sold for $530,000
Agents: Julie Prince & Diane Jackson

Commercial

Isthmus west

Mt Eden

510 Mt Eden Rd:
Features: 554m² section, 200m² restaurant in converted villa at corner of Disraeli St in Mt Eden village, additional 206m² downstairs area gives potential to split risk
Outcome: sold for $3.61 million on “as is where is” basis, subject to occupancy
Agents: Scott Kirk, Adam Curtis, John Algie

North-east

Birkenhead

188-192 Hinemoa St:
Features: 835m² site, development potential, 280m² restaurant in converted villa, wraparound covered deck, vacant office area below restaurant previously used as accommodation
Outcome: sold for $2.535 million on “as is where is” basis, subject to occupancy
Agents: Adam Curtis, John Algie & Damian Stephen

Stanmore Bay

195 Brightside Rd:
Features: 1783m² site, 276m² restaurant
Outcome: sold for $1.73 million on “as is where is” basis, subject to occupancy
Agents: Jeremy Milton, John Algie & Adam Curtis

North-west

Glen Eden

5 Oates Rd, unit 5:
Features: 292m² corner unit in block of 13 shops, dual access, split internally between retail, office storage, meat processing & cool storage, opportunity to split or occupy the tenancy
Rent: $92,040/year net + gst from established tenant, the Mad Butcher
Outcome: sold for $1.375 million at a 6.7% yield
Agents: Adam Curtis, Adam Watton & Oscar Kuang

Earlier story:
28 February 2017: $8 million Masala assets forfeiture agreed

Attribution: Auction.

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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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Glen Eden property sold

Jones Lang LaSalle has sold a Glen Eden office & warehouse combination (outlined) on a 6.1% yield, although the warehouse will become vacant on settlement.

North-west

Glen Eden

7 Waikaukau Rd:
Features: 2 buildings – a 264m² front office building and a 1728m² warehouse at rear
Rent: combined rent $90,200/year, but warehouse will be vacant at settlement; office building is leased for $26,400/year + gst + opex until June 2020
Outcome: sold for $1.475 million at a 6.1% yield on current rent
Agents: Jason Armstrong & Alex Wefers

Attribution: Agent release.

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2 Rosebank Rd properties among sales

2 Rosebank Rd properties have been bought by the one investor on yields of 6.3% & just under 7%.

They’re among 5 sales & one lease in the latest transactions in West Auckland by Bayleys agents.

Sales

Isthmus west

Avondale

527A Rosebank Rd:
Features: 1428m2 2-level office building in 3 strata titles, 48 parking spaces, in the Harbourside Business Park; 4 tenants on 3- to 5-year lease terms to 2017 & 2018
Rent: $278,000/year net + gst
Outcome: sold for $4 million at a 6.95% yield
Agent: Alan Haydock & Damien Bullick 

527B Rosebank Rd:
Features: 444m2 top floor office in 2 unit titles; NZ head office of Cadpro Systems, in occupation since 2003 with current lease running until late until November 2021, 2 3-year rights of renewal
Rent: $110,450/year net + gst
Outcome: sold for $1.75 million at 6.31% yield to buyer of No 527A
Agent: Alan Haydock & Damien Bullick

North-west

Glen Eden

83 West Coast Rd, unit A:
Features: 110m2 retail unit leased to Dominos Pizza NZ for 5 years from October 2014, one 5-year right of renewal
Rent: $39,543/year net + gst
Outcome: sold for $580,000 at a 6.8% yield
Agent: Owen Ding

Henderson

16 Catherine St:
Features: 781m2  site with town centre zoning, 780m2 2-level office building in need of renovation, 12 parking spaces
Outcome: sold vacant for $1.86 million
Agent: Grant Miller

21 Catherine St:
Features: 450m2 retail unit occupied by an Aussie Butcher outlet on new 6-year lease, 2 4-year rights of renewal
Outcome: sold for $2 million at a 5.5% yield
Agents: Ed Donald & Tony Chaudhary

Lease

Isthmus west

Avondale

15 Fremlin Place:
Features: 569m2 of warehouse, 275m2 office on 1148m2 site, leased for 6 years from 16 January, one 4-year right of renewal & 2-yearly rent reviews to market
Rent: $110,000/year net + gst
Agents: Mike Adams & Laurie Bell

Attribution: Agency release.

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8 of 28 apartments & cross-leases sell at Barfoots

8 apartments, townhouses & suburban cross-leased properties were sold out of 28 offered at Barfoot & Thompson’s auctions in its city office this week. The auction for another 2 Docks apartments was postponed.

All up, 16 of the 60 residential properties taken to auction were sold, and no bid was offered on 26.

The one commercial property auctioned, a West Auckland industrial unit taken to court-ordered auction by the body corporate, was sold under the hammer.

Commercial

North-west

Glen Eden

9 Westward Ho Rd, unit H + accessory unit 16 (parking):
Features: single-level industrial unit, parking space, taken to auction by body corporate
Outcome: sold at court-ordered auction for $195,000
Agents: Colin Stewart & Philip Davis

Apartments & suburban cross-leases

CBD

Federal St

Hampton Court, 182 Federal St, unit 5C:
Features: 47m², one-bedroom apartment
Outcome: no bid
Agents: Stephen Shin & Justin Choi

Learning Quarter

Tower Hill, 1 Emily Place, unit 2C:
Features: 78m², 2-bedroom apartment, 33m² courtyard, carport
Outcome: no bid
Agent: Alan Vessey

Quay Park

The Docks, 2 Dockside Lane, unit 203:
Features: leasehold, one-bedroom apartment, balcony, parking space
Outcome: auction postponed
Agent: Sudesh Kumar

The Docks, 8 Dockside Lane, unit 236:
Features: leasehold, one-bedroom apartment, parking space
Outcome: auction postponed
Agent: Sudesh Kumar

Victoria Quarter

Harvard, 147 Hobson St, unit GJ:
Features: 2-bedroom apartment, deck, secure parking space
Outcome: no bid
Agents: Simon Cai & Julie Tri

Wiltshire, 89 Victoria St West, unit 10B:
Features: 56m², one bedroom, balcony
Outgoings: body corp levy $2676/year
Outcome: passed in
Agent: Fiona Lee

Isthmus east

Mission Bay

16 Atkin Avenue, unit 6:
Features: cross-lease, 1/8 share in 1664m², 3-bedroom apartment, balcony, tandem garage
Outcome: sold for $1.75 million
Agent: Dennis Dunford

9 Marua Crescent, unit 11:
Features: cross-lease, 1/12 share in 1011m², one-bedroom apartment, deck, carport
Outcome: passed in
Agent: Lynette Boyd

Panmure

60 Jellicoe Rd, unit 3:
Features: cross-lease, 1/6 share in 1012m², one-bedroom unit, deck, backyard, carport
Outcome: sold for $420,000
Agent: Jessie Yang

Remuera

27B Dell Avenue:
Features: cross-lease, 1/3 share in 903m², 3 bedrooms, garage
Outcome: sold for $1.41 million
Agents: Kathy Bower & Julie Fitzpatrick

12 Kelvin Rd:
Features: cross-lease, half share in 1292m², 4 bedrooms, study, double garage
Outcome: no bid
Agent: Duncan Wu

40A Monteith Crescent, unit G:
Features: 3 bedrooms, conservatory, double garage
Outgoings: body corp levy $1741/year
Outcome: no bid
Agents: Angus Campbell & Michael Bacher

1 Shore Rd, unit 16:
Features: standalone house on 200m² freehold section, 4 bedrooms, carport
Outcome: sold for $1.265 million
Agent: Liz Derbyshire

St Heliers

28 Tarawera Terrace, unit 1:
Features: cross-lease, quarter share in 1586m², 4 bedrooms, internal-access garage
Outcome: sold for $1.87 million
Agents: Bob Gordon & Trevor Wyness

Isthmus west

Eden Terrace

Der Rohe, 10 Flower St, unit 104:
Features: 57m², 2-bedroom apartment, deck
Income assessment: $450/week current
Outcome: passed in, back on market at $500,000
Agents: Aaron Cook & Betty Shao

15 Rendall Place, unit 503:
Features: 2-bedroom apartment, balcony basement parking space, storage locker
Outgoings: body corp levy $3732/year
Outcome: passed in
Agent: Anna Stephens-Brown

Grey Lynn

6 Schofield St, unit 10:
Features: 3-bedroom terrace, deck, carport
Outgoings: body corp levy $4596/year
Outcome: sold for $800,000
Agent: Liz Derbyshire

Hillsborough

15 Currie Avenue, unit 1:
Features: cross-lease, half share in 766m², 2-bedroom unit, basement garage & storage
Outcome: sold for $687,000
Agent: Robin Cross

Mt Eden

40 Horoeka Rd, unit 2:
Features: cross-lease, 1/9 share in 931m², 2-bedroom unit, offstreet parking
Outcome: sold for $700,000
Agents: Verena Lobb & Lisa MacQueen

Mt Roskill

56A May Rd:
Features: cross-lease, half share in 826m², 3 bedrooms, double internal-access garage
Outcome: passed in at $900,000
Agent: Alex Yang

Sandringham

65 Burnley Terrace, unit 5:
Features: one-bedroom ground unit, carport, parking space
Outgoings: body corp levy $1819/year
Outcome: no bid
Agent: Julie Hey

297A Mt Albert Rd:
Features: cross-lease, half share in 843m², 4 bedrooms, deck, carport
Outcome: no bid
Agent: Steve Hood

16 St Lukes Rd:
Features: cross-lease, 1/3 share in 1358m², 4-bedroom villa
Outcome: no bid
Agents: Reeka Lelaulu & Sue Cohen

34 Watea Rd, unit 3:
Features: cross-lease, 1/8 share in 1227m², 2-bedroom unit, garage
Outcome: no bid
Agents: Jeff Stretton & Monica Bajaj

North-west

Glendene

4 Lydford Place, unit 2:
Features: cross-lease, half share in 675m², 3 bedrooms, deck, garage, workshop
Outcome: no bid
Agents: Julia Barnett & Ryan Littler

Glen Eden

9 Evans Rd, unit 12:
Features: 2-bedroom unit, deck, internal-access garage
Outgoings: body corp levy $595/year
Outcome: passed in
Agents: Julia Barnett & Ryan Littler

Henderson

38 Eyre St:
Features: cross-lease, half share in 1026m², 3 bedrooms, basement garage, double carport
Outcome: passed in
Agent: Roger Franklin

New Lynn

2 Kiritoa St:
Features: cross-lease, half share in 870m², 3 bedrooms, garage
Outcome: no bid
Agent: Jennifer Peary

116 Titirangi Rd, unit 1:
Features: cross-lease, 1/10 share in 4116m², 3-bedroom bungalow, carport
Outcome: no bid
Agents: Aken Yuan & Michelle Zhou

Swanson

637 Swanson Rd, unit 1:
Features: cross-lease, half share in 1012m², 2-bedroom bungalow, deck, offstreet parking
Outcome: no bid
Agents: Raj Mitra & Maggie Altaf

Attribution: Auctions.

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Updated: St Marys Bay townhouse among mix of auction sales

Published 10 November 2016, updated 13 November 2016:
A large St Marys Bay townhouse on a cross-lease (pictured) was sold among a mix of properties auctioned at Bayleys yesterday.

Other sales included a Dilworth apartment on Queen St, a Glen Eden unit, 2 Marina Park apartments (one pre-auction – and the update gives the price) & a canalside house with pontoon at Whitianga, and a Rosedale commercial building.

Apartments, townhouses & cross-leases

CBD

Queen St

Dilworth, 22 Queen St, unit 6B:
Features: 2-bedroom apartmen
Outgoings: rates $2624/year including gst; body corp levy $5864/year + gst, plus special maintenance levy $3466 + gst payable for period 1 October 2014-30 September 2020
Outcome: sold for $750,000
Agents: Diane Jackson & Julie Prince

Isthmus west

St Marys Bay

16 London St, flat 3:
Features: cross-lease, 1/5 share in 1336m², 4 levels, 3 bedrooms, 3 bathrooms, 2 living areas, terrace, balconies, double internal-access garage, 2 offstreet parking spaces, wine cellar, room available for gym or media room
Outcome: sold for $2.275 million
Agent: Chris Batchelor

North-west

Glen Eden

233 Glengarry Rd, unit 1:
Features: cross-lease, half share in 803m², 3 bedrooms
Outcome: sold for $516,000
Agents: Jock Kooger & Pawel Smuga

South of the Bombays – Coromandel

Whitianga

Marina Park Apartments, 84-86 Albert St, unit 1:
Features: 91m², 2-bedroom ground-floor apartment
Outgoings: body corp levy $2798/year
Outcome: sold at mortgagee auction for $290,000
Agents: Belinda Sammons & Kylie Pullen

Updated: Marina Park Apartments, 84-86 Albert St, unit 41:
Features: fully furnished 2-bedroom top-floor apartment, 2 parking spaces
Outcome: sold prior for $450,000
Agents: Kylie Pullen & Belinda Sammons

15 Aquila Drive:
Features: 808m² canal-front section, 4-bedroom house, 2 bathrooms, 27.74m frontage + 7.3m pontoon
Outcome: sold for $1.2 million
Agents: Bev Calder & Sheree Henderson

Commercial

North-east

Rosedale

57-59 Paul Matthews Rd, unit 2:
Features: 215m² floor area, no consent or code compliance certificate for warehouse mezzanine & workshop addition, Transport Specifications Ltd lease expires in March 2019
Outgoings: body corp levy $2258/year
Rent: $39,000/year + gst + outgoings
Outcome: sold for $720,000
Agents: James Kidd & Ashton Geissler

Rural

South of the Bombays – Coromandel

Coroglen

215 Rangihau Rd:
Features: 45.8ha farm, 3-bedroom house, 2 bathrooms, 159m² barn with carport & rumpus room
Outcome: passed in at $1 million
Agents: Belinda Sammons & Kylie Pullen

Attribution: Auction.

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19 intensive properties sell at 3 Barfoot sessions

In 3 auction sessions at its city rooms on Wednesday & Thursday, Barfoot & Thompson sold 17 intensive properties out of 28 on offer, and another 2 shortly after the auction – a 68% clearance rate.

12 of those properties are on cross-leases, some of them fullscale houses, but I rate them as intensive because they do intensify land use and certainly affect land values.

The auctionrooms are mostly quieter, and the process much slower as vendors negotiate for an immediate sale or hang in for what might ultimately not be a sale at a higher figure.

I’ve reported separately on the agency’s apartments & commercial auction on Thursday morning, when one of 2 commercial properties and 3 of the 4 apartments were sold.

CBD

Learning Quarter

Silo, 23 Emily Place, unit 4N:
Features: 17m² studio, enclosed courtyard, parking space
Outcome: sold for $395,000 at pre-auction
Agents: Leo & Stephen Shin

Isthmus east

Epsom

30 Gardner Rd, units A & B:
Features: 2 homes totalling 270m², one of 2 bedrooms, the other of 3 bedrooms
Outgoings: body corp levy $2674/year
Income assessment: $1400/week current
Outcome: passed in
Agents: Julia Zhu

228F Green Lane West:
Features: 2-bedroom townhouse, double carport, storage
Outgoings: body corp levy $4956/year
Outcome: sold for $687,000
Agent: Victor Lai

33A King George Avenue:
Features: cross-lease, half share in 776m², 4 bedrooms, 3 bathrooms, study, patio, double internal-access garage
Outcome: no bid, back on market at $1.625 million
Agents: Frank Excell & Ketiesha Elliott

17 Selwyn Rd unit 2:
Features: cross-lease, 1/6 share in 1485m², 2-bedroom unit, deck, internal-access garage
Outcome: sold for $876,000
Agents: Robyn Preece

71 Wheturangi Rd:
Features: cross-lease, 1/3 share in 1434m², 4-bedroom house, 2 bathrooms, 2 parking spaces
Outcome: passed in at $1.75 million
Agents: Wendy Sadd & Helen Lam

Greenlane

8 Korokino Rd:
Features: cross-lease, half share in 870m², 3 bedrooms, 2 bathrooms, deck, double garage
Outcome: sold for $1.15 million
Agents: Cici Wang

Mission Bay

10 Tagalad Rd, unit 6;
Features: one-bedroom apartment, conservatory, storage room
Outcome: sold for $890,000
Agent: Karin Cooper

Onehunga

111H Church St:
Features: cross-lease, 1/5 share in 769m², 2-bedroom townhouse, 2 parking spaces
Outgoings: body corp levy $2183/year
Outcome: sold for $650,000
Agent: Elvira Abdrazakova

76 Galway St, unit 2:
Features: 3-bedroom unit, 2 bathrooms, courtyard, double internal-access garage + 2 offstreet spaces
Outcome: sold for $805,000
Agent: Vicki Du

One Tree Hill

51A Tawa Rd:
Features: cross-lease, half share in 819m², 3 bedrooms, 2 bathrooms, patio, 2 parking spaces
Outcome: sold for $1.16 million
Agent: Wendy Sadd

Parnell

16 Aorere St:
Features: 213m² site, 3 bedrooms, 2 bathrooms, 2 balconies, ground-floor deck, patio, single garage + 2 offstreet spaces
Outcome: no bid, back on market at $1.495 million
Agent: Steve Hood

26 Brighton Rd, unit 3:
Features: 169m², 3-bedroom townhouse, 2 bathrooms, double internal-access garage, garden
Outgoings: rates $3275/year including gst; body corp levy $1376/year
Outcome: sold for $1.515 million
Agent: Cindy Yu

Remuera

171 Portland Rd, unit 2:
Features: 2-bedroom unit
Outcome: no bid, back on market at $898,000
Agent: Julie Fitzpatrick

5A Ventnor Rd:
Features: cross-lease, half share in 852m², 3 bedrooms, 3 bathrooms, office, deck, double internal-access garage
Outcome: passed in at $1.575 million
Agent: Debbie-Lee Wallace

St Heliers

278 St Heliers Bay Rd, unit 2:
Features: 2-bedroom townhouse, balcony for each bedroom, deck
Outcome: sold for $840,000
Agent: Julie Kennedy

St Johns

35 Simkin Avenue, unit 2:
Features: cross-lease, 607m², 82m² 2-bedroom unit, storage, garden, carport
Outcome: no bid, sold post-auction
Agent: Keith Simpson

Isthmus west

Freemans Bay

148 Howe St, unit 18:
Features: 2 bedrooms, offstreet parking space
Outgoings: body corp levy $4362/year
Outcome: sold post-auction
Agents: Andre Bodde

Hillsborough

55 Aldersgate Rd:
Features: cross-lease, half share in 1542m², 4 bedrooms, 2 bathrooms, double carport
Outcome: sold for $1.2 million
Agents: Anna Copeland

Mt Albert

1 Preston Avenue, unit 4:
Features: 73m² land, 2-bedroom unit, garage
Outcome: passed in
Agents: Wayne Guo & Sammi Huang

Mt Eden

1 Akiraho St, unit 13:
Features: 2-bedroom apartment, 2 bedrooms, balcony, 2 parking spaces
Outgoings: body corp levy $3842/year
Outcome: sold for $728,000
Agents: Sue Saywell

79A Grange Rd:
Features: 3-bedroom villa converted into 3 one-bedroom flats
Outgoings: body corp levy nil
Income assessment: $73,840/year current
Outcome: sold for $1.7 million
Agents: Paul Donovan & Sharon Walls

Mt Roskill

980 Dominion Rd:
Features: 875m² section, ex-state house, 4 bedrooms, carport, zoned business – mixed use under unitary plan
Outcome: sold for $2.252 million
Agent: Kathy Bower

Sandringham

268A Balmoral Rd:
Features: cross-lease, half share in 1586m², 2-bedroom art deco house, garage
Outcome: passed in
Agents: Frank Excell & Ketiesha Elliott

6 Eden View Rd, unit 5:
Features: cross-lease, 1/10 share in 1231m², 57m² 2-bedroom unit, offstreet parking
Outcome: sold for $510,000
Agents: Lucy Liu

Westmere

111 West End Rd:
Features: cross-lease, half share in 721m², 3 bedrooms, 3 bathrooms, office, offstreet parking
Outcome: sold for $1.5 million
Agents: George Damiris & Bruce Murtagh

North-west

Glen Eden

111 Albionvale Rd:
Features: 103m² fee simple section, 3-bedroom townhouse, 2 bathrooms, garage
Outcome: passed in
Agents: Sachin & Naresh Mistry

Sunnyvale

20 Sunshine Boulevard:
Features: 199m² site, 180m² internal space, 4 bedrooms, 2 bathrooms, internal-access garage
Outcome: sold for $726,000
Agents: Stephen Shin & Barry He

Apartments & commercial auction, 3 November 2016: Grey Lynn shops & 3 apartments sell

Attribution: Auctions.

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5 sell at Colliers retail & commercial auction

The first 5 properties auctioned at Colliers yesterday all sold under the hammer, but there was no bid on the sixth and the auction of the seventh was postponed.

3 of the properties were in local or neighbourhood centres, offering a range of shops (some vacant). The one pictured, on Glengarry Rd, Glen Eden in West Auckland, has 5 shops, but 4 of the basement storage units are vacant.

CBD

Queen St

175 Queen St, part level 2:
Features: 82m² strata unit, long-term tenant
Rent: $42,808/year gross
Outcome: auction postponed
Agents: Simon Felton, Adam White & Gareth Fraser

North-east

Hillcrest

51 Eban Avenue:
Features: 900m² site, new purpose-built childcare centre
Rent: $165,880/year net, new 12-year lease with personal guarantees, fixed 2% annual increases
Outcome: sold for $3.01 million at a 5.5% yield
Agents: Shoneet Chand & Peter Kermode

North-west

Glendene

4343 Great North Rd:
Features: 344m² lettable area in local centre, 2 tenancies, pharmacy as anchor
Rent: $87,880/year net + gst
Outcome: no bid
Agents: Deborah Dowling & Michael Bray

Glen Eden

94-106 Glengarry Rd (pictured):
Features: 1027m² neighbourhood centre site, 950m² lettable area on 2 levels, 5 shops, 4 basement storage units
Rent: $125,803/year net + gst, potential including 4 vacant storage sheds $174,451/year
Outcome: sold for $2.18 million
Agents: Michael Bray, Deborah Dowling & Gareth Fraser

South

Airport Oaks

14 Andrew Baxter Drive:
Features: 2023m² site, 1182m² net lettable area, occupied by NZ Bloom Ltd
Rent: $160,000/year net + gst from new 6-year lease
Outcome: sold for $3.135 million at a 5.1% yield
Agents: Paul Jarvie & Brad Johnston

Papatoetoe

21 East Tamaki Rd:
Features: 700m² site, 516m² lettable area on 2 levels 
Rent: $120,300/year + gst
Outcome: sold for $1.61 million at a 7.47% yield
Agents: Jeremy Barnett, Matthew Barnes & Gareth Fraser

138 Great South Rd:
Features: 848m² corner site 621m² lettable area
Rent: $53,462/year + gst current from 2 shops, one other vacant
Outcome: sold for $1.65 million
Agents: Jeremy Barnett, Matt Barnes & Gareth Fraser

Attribution: Auction.

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4 apartments & townhouses sold

Bayleys sold 4 apartments & townhouses at its Remuera & city auctions last week, including 2 in Broadway Park (picture shows the Oakridge apartments at Broadway Park).

CBD

Learning Quarter

Oxford, 13-15 Mount St, unit 10B:
Features: furnished corner unit, 2 bedrooms
Outgoings: rates $1367/year including gst
Outcome: passed in
Agent: Dave Hamlyn

Isthmus east

Remuera

Broadway Park, 25 John Stokes Terrace:
Features: split level, 4 bedrooms, 2 bathrooms, double garage
Outgoings: rates $4696/year including gst
Outcome: sold for $2 million
Agents: Wei Wei Elder & Ross Tierney

Broadway Park, Oakridge, 10 Middleton Rd, unit 201:
Features: 3 bedrooms, 2 bathrooms, tandem parking, 2 storage units
Outcome: sold for $1.8 million
Agent: Paul Sissons

Isthmus west

Freemans Bay

28 College Hill, unit 303:
Features: 2 bedrooms, 2 bathrooms, 2 parking spaces
Outgoings: rates $2690/year including gst
Outcome: passed in
Agents: Jenna Kendrick & Wendy Nichols

Grey Lynn

39 Mackelvie St, unit 4D:
Features: top floor, 2 bedrooms, 2 bathrooms, balcony, 2 parking spaces
Outcome: sold for $926,000
Agent: Chris Batchelor

North-west

Glen Eden

35 Barnea Circle:
Features: m², 3-level townhouse, 3 bedrooms, 2 bathrooms, internal-access garage
Outcome: sold for $545,000
Agent: Mark Birdling

South

Mangere Bridge

32 Kapuka Rd, lots 1, 2 & 3:
Features: 1128m² of flat land in 3 titles – one 2-bedroom flat & 2 one-bedroom flats
Outcome: passed in
Agents: Wei Wei Elder & Ross Tierney

Attribution: Agency release.

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