Archive | New Lynn

New Lynn corner property sells

A commercial property in New Lynn was sold under the hammer, a Parnell apartment was passed in and a Herne Bay property with rezoned potential was withdrawn from auction at Bayleys’ auctions around Auckland last week.

Apartments

Isthmus east

Parnell

6 Brighton Rd, unit 11:
Features: one-bedroom apartment, study nook
Outgoings: rates $1687/year including gst
Outcome: passed in
Agents: Chris Reeves & Fleur Denning

Commercial

Isthmus west

Herne Bay

185 Jervois Rd:
Features: 508m² site zoned terraced housing & apartment buildings, 154m² floor area,  medical-related tenant
Rent: $75,000/year net + gst
Outcome: withdrawn from auction
Agents: Scott Kirk & James Were

North-west

New Lynn

1 Crum Avenue:
Features: 607m² corner site zoned business light industry, 360m² building, 2 retail & industrial tenancies
Rent: $46,000/year from 2 tenancies
Outcome: sold for $1.305 million at a 3.5% yield
Agents: Mike Adams & Simon Davies

Attribution: Agency release.

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6 units sell at Barfoot residential auctions

6 of 10 apartments, townhouses & suburban units auctioned at Barfoot & Thompson’s city office this week were sold under hammer.

They included one St Lukes apartment with remedial issues, sold at mortgagee auction.

CBD

Victoria Quarter

11 Nicholas St, unit 8C:
Features: 105m², 2-bedroom apartment, 2 bathrooms, balcony, tandem parking
Outcome: passed in
Agents: Stephen & Leo Shin

Isthmus east

Ellerslie

14 Arthur St, unit 3:
Features: 2-level 3-bedroom townhouse, patio, internal-access garage
Outcome: sold for $962,000
Agents: Neno Radinovich & Daniel Duan

Glendowie

119 Riddell Rd, unit 1:
Features: 2-bedroom unit, garage
Outcome: sold for $780,000
Agent: Andrew Pender

Greenlane

22G Aratonga Avenue:
Features: one-bedroom unit, deck, double garage
Outcome: no bid
Agent: Kanta Lala

Newmarket

Kings Square, 26 Remuera Rd, unit 602:
Features: 3-bedroom apartment, 2 bathrooms, balcony, 2 covered parking spaces
Outcome: sold for $1,023,500
Agents: Sam Leong & Wynne Wong

Isthmus west

Freemans Bay

5 Foundries Lane, 61 Wellington St:
Features: 81m², 2-bedroom townhouse, deck, offstreet parking
Outcome: no bid, back on market at $1.149 million
Agent: Neil Dayal

Mt Albert

St Lukes Gardens, 11 Morning Star Place, unit 1E:
Features: 2 bedrooms, balcony, 2 offstreet parking spaces, across the road from Westfield St Lukes mall; the building has remedial issues and further levies are contemplated, offered on an “as is, where is” basis
Outcome: sold at mortgagee auction for $278,000
Agent: Philip Davis

North-west

Kelston

9 Alston Avenue:
Features: 1167m² section, block of 4 2-bedroom units with carports, all on one title
Outcome: sold for $1.515 million
Agent: Rick Thevenard

Massey

62 Cyclarama Crescent, unit 2:
Features: 2-bedroom unit, deck, single carport
Outcome: sold for $601,000
Agents: Aaron Julian & Prasanna Kumar

New Lynn

126 Lynwood Rd, unit 1:
Features: ground-floor 2-bedroom unit, offstreet parking
Outcome: passed in, back on market at $465,000
Agent: Lisa Redgrove

Attribution: Agency.

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4 Merchant Quarter retail units sell

4 of the 5 Merchant Quarter retail units auctioned at Colliers yesterday were sold under the hammer, 2 of them at sub-5% yields.

They’re among 12 retail, food & health sector units on the ground floor of the expanded building, which has new & established apartments at the top, and parking in the middle. 2 of the ground-floor units are vacant.

Agents on all 5 units were Tony Allsop, Josh Coburn & Cheryl Higginson.

North-west

New Lynn

28-42 Totara Avenue:
Pita Pit:
Features: 108m²
Rent: $42,301.44/year net passing income, 10-year initial term, 2 5-year rights of renewal
Outcome: sold for $900,000 at a 4.7% yield

Lumino:
Features: 160m²
Rent: $52,000/year net passing income, 10-year initial term, 2 4-year rights of renewal
Outcome: sold for $1.175 million at a 4.42% yield

Spicy Hot Pot:
Features: 114.15m²
Rent: $33,060/year net passing income, 8-year initial term, 2 6-year rights of renewal
Outcome: sold for $618,000 at a 5.34% yield

Vita Source:
Features: 87.29m²
Rent: $34,333/year net passing income, 6-year initial term, 2 3-year rights of renewal
Outcome: sold for $500,000 at a 6.87% yield

Vacant space:
Features: 102m²
Outgoings: body corporate costs $6045/year – about $55/m²/year + gst
Outcome: passed in

Attribution: Agency release.

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Vincent St apartment sells

A pet-friendly apartment, in the former Beca building up Vincent St from Aotea Square, was sold under the hammer at City Sales’ auction today, while the other 2 units on offer were both passed in.

CBD

Uptown

CityZone, 11 Liverpool St, unit 1111:
Features: 18m² furnished studio,
Outgoings: rates $1019/year including gst; body corp levy $2017/year
Outcome: passed in after sole bid from the vendor at $180,000
Agent: Iona Rodrigues

132 Vincent St, unit 2F:
Features: 62m², 2 bedrooms, 9m² deck, parking space, pet-friendly
Outgoings: rates $1773/year including gst; body corp levy $5655/year
Income assessment: $650-700/week
Outcome: sold for $658,000
Agent: Tanya Rotherham

North-west

New Lynn

Merchant Quarter, 20 McCrae Way, unit 507:
Features: 55m², one bedroom + flexi room, deck, parking space on separate title
Outgoings: rates $1477/year including gst; body corp levy $2727/year, parking levy $321/year
Outcome: passed in after sole bid from the vendor at $450,000
Agents: Trisha Shanaghan

Attribution: Auction.

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4 apartments, units & townhouses sold

One of the 3 apartments auctioned at Barfoot & Thompson’s city office yesterday – in the Queens Residences on Queen St (pictured) – was sold under the hammer. In the afternoon session, 3 of the 5 suburban units & townhouses were also sold.

CBD

Albert St

Stamford Residences, 26 Albert St, unit 2108:
Features: 233m², 3 bedrooms, 3 bathrooms, study, storage locker, 2 secure parking spaces
Outgoings: body corp levy $20,108/year
Income assessment: fixed–term tenancy until June 2019
Outcome: passed in at $2.12 million
Agent: Aaron Cook

Uptown

Queens Residences, 8 Airedale St, unit 1302:
Features: 45m² including balcony, one bedroom, study
Outgoings: body corp levy $2193/year
Outcome: sold for $497,000
Agents: Selina Zheng & Tommy Zhang

Isthmus east

Epsom

218 Green Lane West, unit 44:
Features: 2-bedroom townhouse recently reclad & refurbished with new code compliance certificate, carport, in secure gated complex
Outcome: passed in at $895,000
Agents: Yi Wei Lowndes & Tian Qiu

Greenlane

27 Puriri Avenue, unit 2:
Features: 2-bedroom unit, carport
Outcome: sold for $732,000
Agents: Wendy Sadd & Helen Lam

Onehunga

85 Victoria St:
Features: 417m² section, villa in 2 one-bedroom flats, 4 parking spaces, zoned mixed housing, terraced & apartment
Outcome: sold for $705,000
Agent: Paul Hodgman

Parnell

13 Cheshire St, unit 407:
Features: 2 bedrooms, 2 bathrooms, balcony, tandem internal-access parking
Outgoings: body corp levy $3242/year
Outcome: passed in at $874,000
Agents: Anne-Marie & Victoria Koszegi

Remuera

725A Remuera Rd, unit 1:
Features: m², 2-level 3-bedroom townhouse, courtyards, garage with workshop, 2 offstreet parking spaces
Outcome: no bid
Agents: Paul Earl-Peacock

North-west

New Lynn

13 Seabrook Avenue, unit 2:
Features: 2-bedroom unit, garage
Outcome: sold for $478,000
Agents: Leigh Walford & Antonio Bosu

Attribution: Auction.

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Sales indicate softening in property markets

The softening in property markets has been evidenced by 2 sales, one in New Lynn passed in at auction in April and sold 4 months later for the same figure, the other a Mt Roskill property (pictured) with a mix of uses and sold $230,000 below the recent asking price.

They were among 5 properties in Kelston, Mt Roskill, New Lynn & Swanson sold by Bayleys agents, and 3 leases in Avondale & New Lynn.

Sales

Isthmus west

Mt Roskill

74 Carr Rd:
Features: 835m² site, 697m² low-stud industrial building constructed in the 1950s
Outcome: sold vacant to an owner occupier for $1.615 million
Agents: Tony Chaudhary & Sunil Bhana

439 Mt Albert Rd:
Features: 2/3 share of 888m² residentially zoned section, 564m² mostly vacant mixed-use building with low seismic assessment (25% new building standard); 3 retail/commercial tenancies totalling 237m² on ground level, 4-bedroom home above
Rent: one commercial tenancy leased at $25,000/year; estimated fully leased rental income of about $100,000/year
Outcome: sold for $1.32 million + gst after being on market at $1.55 million
Agents: Phil Haydock & Alan Haydock

North-west

Kelston

39 Cartwright Rd, Kelston.

39 Cartwright Rd:
Features: 1032m² site zoned mixed use, partially leased 735m² standalone industrial building, recently refurbished externally; front 435m² warehouse plus 81m² of offices & amenities occupied by automotive tenant, 219m² vacant rear warehouse
Rent: $30,000/year net + gst (2017 rental valuation $81,859/year)
Outcome: sold for $950,000
Agents: James Valintine, William Gubb, Sunil Bhana & James Hill

New Lynn

3019 Great North Rd & 2 Bentinck St:
Features: 1458m² corner site in 2 titles; owned & occupied by a family car dealership since the early 1980s, the 647m² Great North Rd title has a 140m² office/workshop building while the 812m² Bentinck St title has a house & shed totalling 120m²
Outcome: passed in at auction in April at $1.625 million, now sold at that price post-auction, vacant possession
Agents: James Were, Scott Kirk, Mike Adams & James Chan

Swanson

260 Swanson Rd, unit E:
Features: 100m² retail unit in suburban retail centre; Ezy Cash (Massey) Ltd has been a tenant for 8 years and renewed for a further 4 years in January 2016, with 3 further 4-year rights of renewal
Rent: $30,000/year net + gst
Outcome: sold for $585,000 at a 5.12% yield
Agent: Mark Pittaway

Leases

Isthmus west

Avondale

14 Copsey Place
Features: 1846m² site, 1273m² standalone older-style industrial building, about 1000m² of warehousing, 3 roller doors, 2 levels of offices; leased to grocery wholesalers for 5 years with 3 5-year rights of renewal
Rent: $125,000/year net + gst
Agents: Mark Preston & Simon Davies

7 Jomac Place
Features: New premium grade industrial premises comprising 1000m² of high stud warehouse, 200m² office & amenities, 110m² canopy plus large yard area, 10 parking spaces; 3-year sub-lease to a pharmaceutical company with no renewal rights
Rent: $135,000/year net + gst
Agents: Mark Preston & Laurie Bell

North-west

New Lynn

13 Crown Lynn Place:
Features: 1500m² standalone medium-stud industrial building, about 100m² of office, leased for 9 months, no right of renewal
Rent: $110,000/year net + gst
Agents: Mark Preston & Laurie Bell

Attribution: Agency release.

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5 intensive homes, 4 standalones sell at auctions

Out of 18 intensive homes (apartments, suburban flats & homes on cross-leased sites) auctioned at Barfoot & Thompson’s city office over 5 sessions this week, 3 apartments & a cross-lease were sold under the hammer, and another cross-lease was sold post-auction.

Both apartments taken to mortgagee auction were sold. The auction of one apartment was postponed.

All up, 32 residential properties were offered at those 5 sessions (from Tuesday afternoon to Thursday morning). On top of the 5 intensive homes sold, 4 standalone homes were sold out of the 14 auctioned.

CBD

Albert St

Quay West, 8 Albert St, unit 2703:
Features: 3 bedrooms, 2 bathrooms, 2 covered parking spaces
Outgoings: body corp levy $19,999/year + gst ($13,888 opex, $6111 reserve)
Outcome: passed in at $1.73 million, back on market at $1.79 million
Agents: Helen Lin & Cici Wang

Learning Quarter

UniLodge, 138 Anzac Avenue, unit 201:
Features: leasehold, one-bedroom student apartment
Outgoings: body corp levy $7520/year ($3014 operating fund, $4507 ground rent), $18,274 of arrears owed at 30 June
Outcome: sold for $58,000 at mortgagee auction
Agent: Philip Davis

Uptown

C-Vu, 36 Day St, unit 6G:
Features: 2 bedrooms, deck, parking space; building is undergoing remediation, this apartment now ready for occupation
Outgoings: I don’t have these details, which would affect price
Outcome: sold for $461,000 at mortgagee auction
Agent: Philip Davis

Chatham, 70 Pitt St, unit 702:
Features: 50m², one-bedroom apartment, parking space, storage locker
Outgoings: body corp levy $6487/year
Outcome: auction postponed
Agents: Wendy Feng & Jack Li

132 Vincent St, unit 3C:
Features: 81m², 2-bedroom apartment, 2 bathrooms (both with underfloor heating), balcony, parking space, high stud ceilings
Outcome: passed in at $760,000
Agents: Stephen Shin & Justin Choi

132 Vincent St, unit GC:
Features: 81m², 2-bedroom apartment, 2 bathrooms (both with underfloor heating), 11m² covered deck, high stud ceilings, option to buy a parking space
Outgoings: body corp levy $5004/year + $473 lift special levy
Outcome: no bid, back on market at $769,000
Agent: Betty Shao

Isthmus east

Epsom

562B Manukau Rd:
Features: 3-bedroom townhouse, 2 bathrooms, 2 toilets, internal-access double garage
Outgoings: body corp levy zero – owners will maintain their own units
Outcome: passed in, back on market at $1.36 million
Agents: Allen Wang

Meadowbank

7 Hawkins St, unit 1:
Features: 2-bedroom unit
Outgoings: body corp levy $1158/year
Outcome: passed in
Agents: Danny Upton & James Yu

Panmure

43 Kings Rd, unit 5:
Features: cross-lease, 1/5 share in 1230m², 2 bedrooms, deck, carport
Outcome: sold for $644,000
Agents: Margaret Johnston & Phyllis Brooks

Parnell

9-11 Fox St, unit 1:
Features: 95m², 2-bedroom apartment, high stud, parking space, 2 large outdoor living areas, parking space
Outgoings: body corp levy $7707/year
Outcome: sold for $700,000
Agent: Cindy Yu

Remuera

82 Bassett Rd, unit 4:
Features: cross-lease, 7/50 share in 3192m², 2 levels, 3 bedrooms, decks, garage
Outcome: passed in, back on market at $1.39 million
Agents: Cici Wang & Leo Liu

Isthmus west

Mt Albert

101 Richardson Rd, unit 2:
Features: cross-lease, 1/5 share in 1439m², 2 bedrooms, carport
Outcome: no bid, back on market at $659,000
Agents: Christine Wooding & Joanne Yu

101 Richardson Rd, unit 3:
Features: cross-lease, 1/5 share in 1439m², 2 bedrooms, carport
Outcome: no bid, sold post-auction
Agents: Christine Wooding & Joanne Yu

Mt Roskill

14A Glass Rd:
Features: cross-lease, half share in 822m², 4 bedrooms, 2 bathrooms, garage
Outcome: no bid, back on market at $865,000
Agents: Frances Li & Ian Thornhill

Sandringham

11A Watson Avenue:
Features: cross-lease, half share in 1181m², 3 bedrooms, 2 bathrooms, office, deck, internal garage
Outcome: passed in, back on market at $1.565 million
Agents: Kath & Dayle Barnes

North-west

New Lynn

34 Miro St, unit 3:
Features: cross-lease, 1/3 share in 1011m², 67m² unit, 3 bedrooms, 2 bathrooms, carport
Outcome: no bid, back on market at $729,000
Agent: Lawrence Yuan

Attribution: Auctions.

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One out of 4 apartments sold, another now conditional

The first apartment auctioned at City Sales yesterday, in the Pulse in Grey Lynn, was sold under the hammer and the other 3 were passed in on light bidding. One of those has subsequently been sold conditionally.

Isthmus west

Eden Terrace

The Mews, 8 Basque Rd, unit 1:
Features: 111m², 3 bedrooms, 2 bathrooms, 34m² covered deck, parking space
Outgoings: rates $966/year including gst; body corp levy $6064/year including water & gas
Outcome: passed in at $715,000
Agents: Tanya Rotherham

Grey Lynn

The Pulse, 80 Richmond Rd, unit 2B:
Features: 45m², one bedroom, deck, parking space
Outgoings: rates $789/year including gst; body corp levy $3664/year
Outcome: sold for $550,000
Agents: Anna Birkenhead & Tina Bartlett

Kingsland

29 Rossmay Terrace, unit 15:
Features: 120m², 2 bedrooms + flexi-room, deck, parking space
Outgoings: rates $1843/year including gst; body corp levy $3263/year
Outcome: passed in at $625,000, sold conditionally post-auction
Agents: Habeeb Urrahman & Steve Kirk

North-west

New Lynn

10 Crown Lynn Place, unit 5B:
Features: 65m², 2 bedrooms, deck, parking space
Outgoings: rates $1191/year including gst; body corp levy $4980/year
Outcome: no bid
Agents: Habeeb Urrahman & Steve Kirk

Attribution: Auction.

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2 leasehold apartments sell at auction

The owner of 2 leasehold apartments in the Quay Park precinct one at Hudson Brown and the other at The Landings, sold both under the hammer at City Sales’ auction yesterday.

The third property up for auction, a New Lynn studio, was passed in.

CBD

Quay Park

Hudson Brown, 57 Mahuhu Crescent, unit 422:
Features: leasehold, 70m², 2 bedrooms, parking space
Outgoings: rates $1608/year including gst; body corp levy $10,004/year including ground rent
Income assessment: $580/week fixed until January
Outcome: sold for $220,000
Agents: Tony Kelly & Trisha Shanaghan

The Landings, 10 Ronayne St, unit 611:
Features: leasehold, 41m², 2 bedrooms
Outgoings: rates $873/year including gst; body corp levy $2799/year, ground rent $2297/year
Outcome: sold for $130,000
Agents: Tony Kelly & Trisha Shanaghan

North-west

New Lynn

10 Crown Lynn Place, unit 3E:
Features: 28m² studio, deck
Outgoings: rates $865/year including gst; body corp levy $2474/year
Outcome: no bid, back on the market at $230,000
Agent: Trisha Shanaghan

Attribution: Auction.

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3 suburban units sell

3 of the 5 suburban units & cross-leased homes auctioned at Barfoot & Thompson yesterday were sold under the hammer or shortly after.

Isthmus east

Epsom

7A Atherton Rd:
Features: cross-leased terrace, quarter share in 1384m², 4 bedrooms, deck, internal-access garage
Outcome: sold for $1.505 million
Agents: George Fong & Laura McAuley

15C Cornwall Park Avenue:
Features: cross-lease, 1/3 share in 1275m², 5 bedrooms, pool
Outcome: passed in
Agents: Ann Lepper & James Gai

Isthmus west

Mt Eden

24A Marlborough St:
Features: cross-lease, half share in 698m², 3 bedrooms, deck, offstreet parking
Outcome: passed in at $930,000
Agents: Matt O’Rourke & Ryan Harding

North-west

New Lynn

100 Portage Rd, unit 3:
Features: 2-bedroom unit, garage
Outcome: sold shortly after auction, price not disclosed
Agents: Richard Han & Barry He

South

Manurewa

60 Coxhead Rd:
Features: cross-lease, half share in 1148m², 3-bedroom bungalow, deck, sleepout
Outcome: sold for $520,000
Agent: Repeka Lelaulu

Attribution: Auctions.

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