Archive | Glendene

2 post-auction sales in Onehunga & Glendene

2 properties passed in at Bayleys 12 April Total Property commercial auction have since been sold. The agency’s next Total Property auction is next Wednesday, 17 May.

Isthmus east

Onehunga

4 Newsome St:
Features: 493m2 bare site zoned mixed use, height limit 21m
Outcome: no bid at auction, sold for $725,000 at $1470.60/m2
Agents: Tony Chaudhary & Janak Darji

North-west

Glendene

3 Bancroft St:
Features: 3584m2 site, partially refurbished 2500mstandalone industrial building, 6-year lease to a tenant in occupation for over 30 years
Rent: $225,000/year net + gst
Outcome: passed in at $2.775 million at the 12 April auction, sold for $2.8 million at an 8% yield
Agents: Dave Stanley & Stuart Bode

Attribution: Agency release.

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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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10 sell at Bayleys’ commercial auction

9 properties were sold under the hammer and one post-auction of the 17 in Bayleys’ commercial auction yesterday. Another 3 were sold prior.

[Today’s report is short on some detail.]

CBD

Learning Quarter

5 Eden Crescent, units A & B:
Features: 600m² strata title, renovated, licensed karaoke bar & restaurant
Rent: $161,000/year net + gst
Outcome: passed in at $2.5 million
Agents: Oscar Kuang & Nicolas Ching

Queen St

239 Queen St, unit 1A:
Features: new 12-year lease
Rent: $150,657/year net + gst
Outcome: withdrawn from auction
Agents: Quinn Ngo & James Chan

Isthmus east

Ellerslie

38 Eaglehurst Rd, unit 7:
Features: warehouse
Outcome: declared reserve of $600,000, sold for $800,000
Agents: Andrew Wallace & Cameron Melhuish

Epsom

206 Manukau Rd:
Features: 898m² corner section,
Rent: $67,340/year holding income
Outcome: passed in at $3.55 million
Agents: Owen Ding & James Chan

Mission Bay

2 Atkin Avenue, unit 1:
Features: 374m² site zoned mixed use (up to 18m) under unitary plan, 3-bedroom unit, garage
Outcome: sold for$1.955 million
Agents: Phil Haydock & Angela Yang

Onehunga

18 George Terrace:
Features: 342m² site zoned mixed use, warehouse, office, amenities
Outcome: sold for $1.072 million
Agents: James Valintine & William Gubb

4 Newsome St:
Features: 493m², permissible height 20m
Outcome: no bid
Agents: Tony Chaudhary & James Valintine

Panmure

100 Queens Rd:
Features: town centre zone under unitary plan
Rent: $121,000/year net + gst
Outcome: passed in at $1.6 million
Agents: Mark Pittaway

Isthmus west

Eden Terrace

12 Fleet St:
Features: 336m² site
Rent: $52,260/year
Outcome: sold prior at declared reserve of $1.25 million
Agents: James Were & Scott Kirk

Mt Roskill

439 Mt Albert Rd:
Features: corner site, 4-bedroom home, internal garage, 3 commercial tenancies on ground floor
Outcome: auction postponed
Agents: Phil Haydock & Angela Yang

Ponsonby

91 College Hill:
Features: 337m² site zoned mixed use, 275m² gross floor area, 5 secure parking spaces
Outcome: sold for $2,577,500
Agents: Nigel McNeill & Meredith Graham

Sandringham

513 Sandringham Rd:
Features: retail + refurbished 3-bedroom flat
Rent: $88,060/year
Outcome: sold for $1.75 million
Agents: Scott Kirk & Damien Bullick

North-east

Northcote

44 Akoranga Drive:
Features: 946m² corner site, mixed use zone next to AUT
Outcome: sold for $2.5 million
Agents: Michael Nees & Simon Aldridge

Takapuna

6 & 6A Blomfield Spa:
Outcome: withdrawn from auction
Agents: Simon Aldridge & David Huang

Wairau Valley

170 Wairau Rd, unit 18:
Features: Hell Pizza on long-term lease
Rent: $54,000/year net + gst + outgoings
Outcome: sold for $990,000
Agents: Paul Dixon & Tony Chaudhary

North-west

Glendene

3 Bancroft Crescent:
Features: 3584m² site, long-term tenant, 6-year lease term with renewal rights
Rent: $225,000/year net + gst
Outcome: passed in at $2.775 million
Agents: Dave Stanley & Stuart Bode

New Lynn

3019 Great North Rd & 2 Bentinck St:
Features: 1459m² corner site in 2 titles, vacant possession
Outcome: passed in at $1.625 million at $1114/m²
Agents: Mike Adams & Scott Kirk

South

Botany Downs

286 Cascades Rd:
Features: 7493m² site opposite Pakuranga golfcourse, 70m frontage to Cascades Rd
Outcome: sold for $6.1 million
Agents: Dave Stanley & Graeme Sun

Botany South

Bishopsgate business centre, 2 Bishop Dunn Place, unit 32:
Features: 134m² first-floor office, storage, 2 parking spaces
Outcome: sold for $465,000
Agents: Geoff Wyatt & Dave Stanley

Takanini

292 Great South Rd:
Features: 2209m² site, standalone office & warehouse building anchored by long-term office lease + 2 warehouse tenants
Rent: $152,592/year net + gst
Outcome: sold for $2.68 million
Agents: Sunil Bhana & Peter Migounoff

South of the Bombays

Gisborne

412 Gladstone Rd:
Features: 670m² store, seismic rating 100% new building standard, 6-year lease term
Rent: $122,569/year
Outcome: passed in at $1.5 million, sold post-auction for $1.52 million at an 8% yield
Agents: Paul Garland & Colin McNab

Attribution: Auction.

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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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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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Glendene ex-motel passed in at Colliers auction

The Dalma Court Motor Inn at Glendene, closed 3 weeks ago, was passed in at Colliers International’s commercial auction on Wednesday. 2 West Auckland warehouse units were sold under the hammer, and a North Harbour unit containing showroom, storage & office space was passed in.

Isthmus west

Avondale

515 Rosebank Rd:
Features: 462m² building – 315m² warehouse, balance in office areas, 9 parking spaces
Rent: vacant
Outcome: sold for $951,000
Agents: Dhiru Patel & Chris Upright

North-east

North Harbour

16 Saturn Place, unit B6:
Features: 140m² net lettable area, warehouse & first-floor office
Rent: vacant
Outcome: passed in at $350,000
Agents: Mike Ryan, Jimmy O’Brien & Matt Prentice

North-west

Glendene

Dalma Court Motor Inn, 252 Great North Rd:
Features: 3562m² site, 31 semi-furnished residential units (24 studios, one one-bedroom unit, 5 2-bedroom units & a 4-bedroom house), 85% seismic rating, vacant possession; conference centre at rear has ben subdivided on to separate title
Outcome: passed in at $4 million
Agents: Michael Bray, Craig Smith & Deborah Dowling

New Lynn

3 Binsted Place, unit 1:
Features: 210m² site, 155m² warehouse, 16m² 2-level front office, 29m² upstairs office, 10m² amenities, 4 parking spaces
Outcome: sold for $454,000
Agents: Dhiru Patel & Michael Bray

Attribution: Auction.

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2 Birkenhead commercial properties sell, Glendene shop passed in

2 commercial properties in Birkenhead – one in a villa, the other a development site – were sold under the hammer at NAI Harcourts’ auction on Wednesday. A Glendene shop was passed in.

North-east

Birkenhead

134A Hinemoa St:
Features: 2 tenancies of 50m² each
Rent: $38,000/year + gst + outgoings from 2 tenancies
Outcome: sold for $1.001 million
Agents: Isaac Tankard

125-127 Mokoia Rd:
Features: 1942m² in 2 titles, about 300m² of building, commercial property in residential area on commercial fringe of Birkenhead, zoned business 1, neighbourhood centre in proposed unitary plan, ex-service station now mechanical repairs & tyre business
Outcome: sold with vacant possession for $2.81 million
Agents: Rob Meister & Andrew Bruce

North-west

Glendene

Glendene Shopping centre, 1/4343 Great North Rd:
Features: 353m² retail unit
Rent: vacant
Outcome: passed in at $900,000
Agents: Gautama Kaishik

Attribution: Auction.

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Section at $2480/m² attracts big audience at Barfoot auction

Barfoot & Thompson sold one commercial property, 8 apartments & suburban units (flats, apartments, townhouses) and 7 cross-leased properties at auction yesterday. Another apartment sale concluded on Tuesday was for an apartment in a pre-auction bidding process, and 2 more apartments on yesterday’s auction list were sold prior.

Including standalone houses, the agency’s auction list for the day had 69 properties on it.

I don’t write about house sales because they’re not a sector of the market primarily about investment, although at the moment they’re the biggest investment market for their capital gains.

But I’ve noticed a regular sprinkling of cross-leased properties on the market recently and, although they’re also primarily owner-occupied, they highlight a residential factor which has largely gone unnoticed in the debate over new planning & zoning: Auckland, through cross-leasing (much of it in the 1990s) is far more intensively developed than most people would suspect.

The sales listed below start with commercial, followed by cbd apartments & suburban units, followed by the cross-leases (and one property not cross-leased but sought after for its land).

That 774m² Orakei section (pictured above) drew a big audience as bidding climbed to $1.7 million, then wilted, then took off again. Another $220,000 was added before the hammer went down for a sale at $2480/m² of land.

Commercial

South

Pakuranga Heights

15 Rylock Place:
Features: standalone industrial property, 1030m² roadfront section, 344m² building, dual access, yard space
Rent: $29,600/year net
Outcome: sold for $690,000
Agent: David Sylvester

Apartments & suburban units

CBD

Queen St

Portland Towers, 62 Queen St, unit 7B:
Features: 26m², furnished one bedroom, balcony
Outgoings: rates $914/year including gst; body corp levy $6484/year
Outcome: sold for $300,000 at pre-auction on Tuesday, sold for $235,000 a month ago
Agents: Stephen & Leo Chin

Uptown

31 Day St, unit 1A:
Features: 43m² studio
Outgoings: body corp levy $3164/year
Outcome: no bid
Agents: Stephen & Leo Shin

Victoria Quarter

Marina Park, 146 Fanshawe St, unit 48:
Features: studio, building recently reclad,
Outgoings: rates $970/year including gst; body corp levy $2625/year
Income assessment: $340/week
Outcome: sold prior
Agents: Selina Zheng & Annie Xu

Harvard, 147 Hobson St, unit 4D:
Features: 2-bedroom apartment, parking space
Outgoings: body corp levy $13,837/year
Outcome: sold for $295,000
Agents: Wendy Feng & Jack Li

Zest, 72 Nelson St, unit 1018:
Features: 2-bedroom apartment, secure parking space
Outgoings: body corp levy $4447/year
Outcome: sold for $350,000
Agents: Selina Zheng & Annie Xu

Zest, 72 Nelson St, unit 1109:
Features: renovated 2-bedroom apartment
Outgoings: body corp levy $3260/year
Outcome: sold for $315,000
Agents: Wendy Feng & Jack Li

SugarTree, 27 Union St, unit 116:
Features: 2 bedrooms, marble flooring, deck, courtyard, parking space
Outgoings: body corp levy $4469/year
Outcome: sold for $780,000
Agents: Aaron Cook & Betty Shao

Kingsbridge, 72 Wellesley St, unit 1i:
Features: 97m², 2-bedroom apartment, balcony, parking space
Outgoings: body corp levy $5769/year
Outcome: passed in
Agents: Alex Wu

Isthmus east

Epsom

30 Kimberley Rd, unit 2:
Features: renovated one-bedroom unit, parking space
Outcome: sold for $505,000
Agent: Sam Qin

Parnell

28 Balfour Rd, unit 202:
Features: 3-bedroom apartment, 2 parking spaces
Outgoings: body corp levy $5215/year
Outcome: no bid
Agents: Cindy Yu & Bobby McMillan

Stonefields

4 Bluegrey Avenue, unit 203:
Features: one-bedroom apartment, balcony, parking space
Outcome: no bid
Agent: Thomas Weber

4 Bluegrey Avenue, unit 206:
Features: 2 bedrooms, parking space
Outgoings: body corp levy $2891/year
Outcome: sold for $591,000
Agents: Thomas & Helen Weber

4 Bluegrey Avenue, unit 207:
Features: 2-bedroom apartment, parking space
Outgoings: body corp levy $3598/year
Outcome: sold for $598,000
Agents: Thomas & Helen Weber

Isthmus west

Ponsonby

221B Ponsonby Rd:
Features: 126m² including balcony, 2-bedroom apartment, , 2 bathrooms, deck, 2 parking spaces
Outgoings: body corp levy $5545/year
Outcome: sold for $1.66 million
Agents: Carl Madsen

Cross-leased residential

Isthmus east

Glendowie

203 Riddell Rd, unit 3:
Features: cross-lease, quarter share in 1459m²
Outcome: sold for $678,000
Agent: Karin Cooper

Kohimarama
20 Hawera Rd, unit 1:
Features: cross-lease, half share in 812m², 2 bedrooms, double garage, 2 workshops
Outcome: sold for $915,500
Agent: Lynette Boyd

Orakei

96 Kurahaupo St:
Features: 774m² section, full site with cross-leasing in place, 2-bedroom bungalow
Outcome: sold for $1.92 million, after almost being passed in just short of $1.7 million
Agent: Nick Traviglia

St Heliers

52 Bay Rd, unit 2:
Features: cross-lease, quarter share in 1348m², 3 bedrooms, wraparound decking
Outcome: sold for $1.1 million
Agent: Teresa Weiss

Isthmus west

Mt Albert

36 Margaret Avenue, unit 3:
Features: cross-lease, one-11th share in 1545m², 2-bedroom unit, courtyard, parking
Outcome: passed in
Agents: Lucia Pereira & Colin Weatherall

Mt Eden

22 Kensington Avenue, unit 2:
Features: cross-lease, one-third share in 1012m², 2 bedrooms, garage
Outcome: passed in
Agents: Derek Helliwell & Cathy Giles

3 Raleigh St:
Features: 400m² section, double garage with loft studio
Outcome: passed in
Agents: Jo Peck

Ponsonby

207 Ponsonby Rd, unit 2:
Features: cross-lease, one-eighth of 1078m², one-20th of 81m² & one-12th of 50m², 124m² top-floor apartment, 3 bedrooms, carport
Outcome: sold for $1.05 million
Agents: David Dowse

Pt Chevalier

12 Wainui Avenue, unit 3:
Features: cross-lease, one-third share in 675m², 75m² 2-bedroom unit, parking space
Outcome: sold for $745,000
Agents: George Damiris & Bruce Murtagh

North-west

Glendene

3 Ian Place, unit 2:
Features: cross-lease, half share in 717m², 70m² unit, 2 bedrooms, separate laundry, double carport
Outcome: sold for $563,000
Agents: Jennifer Peary

Attribution: Auctions.

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3 sales by Colliers

Colliers International agents have reported 3 recent transactions.

North-west

Glendene

40 Bancroft Crescent:
Features: 4976m² site, 2 warehouses
Rent: $90,500/year + gst
Outcome: sold for $1.1 million
Agents: Chris Upright, Dhiru Patel & Andrew Hooper

South

Mangere Bridge

8 Kirkbride Rd:
Features: 1.69ha site, multipurpose residentially zoned commercial property containing several buildings with a total 3812m² of floorspace
Outcome: sold for $4 million
Agents: Paul Jarvie & Hamish West

South of the Bombays – Bay of Plenty

Mt Maunganui

27-29 Aerodrome Rd:
Features: 1552m² site, high-stud 800m²warehouse
Outcome: sold vacant to an owner-occupier for $1.05 million
Agents: Simon Clark & Rob Schoeser

Attribution: Agency releases.

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Parnell gym premises among 4 sales at 2 NAI Harcourts auctions

A Parnell gym’s premises, including 2 secure parking spaces, sold at a 20% yield at auction yesterday, compared to the 5.1% it would have achieved if bidders had matched its 2011 valuation.

The parking spaces alone were valued at $35,000 each in 2011. If they maintained that value, the auction would have priced the gym space at $840/m².

The gym was one of 7 properties taken to auction at 2 NAI Harcourts branches in Auckland today – 5 at Mairangi Bay and the other 2 at the agency’s Emily Place branch.

The Mairangi Bay auction started with the sale of a Rosedale shop on a 6.5% yield, followed by 2 sales at Albany & Penrose.

Isthmus east

Parnell

3 Akaroa St, unit 2L:
Features: 131m² ground-floor 24/7 gym as tenant, 2 secure covered parking spaces, in building containing apartments, hotel & offices
Rent: $36,500/year + gst, but option of vacant possession
Outcome: sold for $180,000
Agents: Elena Style & Nicolas Ching

Penrose

388 Church St, unit B:
Features: 712m² building – 548m² warehouse, 9m stud, 164m² office/showroom
Rent: vacant
Outcome: sold for $1.25 million
Agents: Steve Granger & Ray Atkinson

North

Maungaturoto

34 Hurndall St:
Features: 1.535ha site including small stand of pines, 1960m² floor area – 804m² manufacturing area with 7m stud, 771m² finishing area with 6.1m stud, 394.5m² office, reception & amenities; rebuilt after a fire in 1997; west from the southern side of the Brynderwyns, 110km north of Auckland
Rent: vacant
Outcome: no bid
Agents: Peter Peeters

Whangarei

58-60 James St & 53-55 John St:
Features: 1176m² site, business 1 zone allows full site coverage, 830m² total floor area2 parallel street frontages
Outcome: passed in at vendor bid of $600,000
Agents: Peter Peeters

North-east

Albany

9C Piermark Drive:
Features: 516m² building – high-stud warehouse 222m², showroom 141m², upstairs office 153m², 12 parking spaces
Rent: $83,000/year net + gst on new 3-year lease
Outcome: sold for $1.12 million
Agents: Dave Lane & Chris White

Rosedale

78-80 Paul Matthews Rd, shop 10:
Features: 4120m² site, retail & small rear area 77m², 2 customer parking spaces
Rent: $21,540/year net + gst on new 3-year lease
Outcome: sold for $328,000 at a 6.5% yield
Agents: Dave Lane

North-west

Glendene

4343 Great North Rd, unit E:
Features: 3 ground-floor shops in 241m²; the Church Unlimited head office occupies the upper floor
Rent: $43,000/year + gst
Outcome: no bid
Agents: Nicolas Ching

Attribution: Auctions.

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