Archive | Manurewa

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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8 out of 12 sell at Bayleys’ auction

8 of the 12 commercial properties in Bayleys’ Total Property auction on Wednesday sold under the hammer. Heaviest bidding was between intending owner-occupiers for a Penrose property on Olive Rd (pictured). 

Isthmus east

Parnell

481 Parnell Rd:
Features: 300m² site zoned mixed use, in double grammar zone, 225m² 2-level character dwelling converted for commercial use with resource consent to demolish; new 4-year lease from May 2017 to Mt Hobson Properties Ltd (Hamish Firth)
Rent: $80,000/year net + gst
Outcome: sold for $2.45 million at a 3.26% yield
Agents: Alan Haydock, Damien Bullick & Phil Haydock

Penrose

9 Olive Rd:
Features: 2043m² site, 1281m² older style industrial building, 884m² manufacturing warehouse, 257m² of offices & amenities and 109m² of mezzanines, first time on market in 34 years
Outcome: sold with vacant possession for $3.32 million at $2591.7/m² land & building
Agents: John Bolton & Roy Rudolph

Royal Oak

Royal Oak Mall, 691 Manukau Rd, unit AL:
Features: 226m² retail unit, occupied by Paper Plus since 1993
Rent: $48,845/year net + gst
Outcome: no bid
Agents: Nicolas Ching & Beterly Pan

North-east

Milford

47 Nile Rd:
Features: 688m² site zoned neighbourhood centre, 2 roadfront shops (superette & Thai takeaway) totalling 132m² and 92m² residential dwelling occupied by superette tenant; longer-term redevelopment potential
Rent: $56,200/year net + gst
Outcome: sold for $1.56 million at a 3.6% yield
Agents: Eddie Zhong, Terry Kim & Ranjan Unka

170 Wairau Rd, unit 22:
Features: 180m² retail unit in rear portion of Wairau Junction convenience centre, occupied by Wairau Foods & Spices which renewed in February for 6 years
Rent: $55,500/year net + gst
Outcome: sold for $840,000 at a 6.61% yield
Agents: Matt Mimmack & Ashton Geissler

Silverdale

4 Titan Place, unit R:
Features: 169m² workshop & office unit built in 2007, 3-phase power, air-conditioning, security alarm system, 2 parking spaces; 2-year lease to Ice Industrial Engravers Ltd from 1 July 2017
Rent: $22,500/year net + gst
Outcome: sold for $426,000 at a 5.28% yield
Agents: Rosemary Wakeman & Mustan Bagasra

Warkworth

The Grange, 67 Auckland Rd, unit 21A:
Features: 61m² unit in retail complex, currently fitted out as office accommodation and leased to Hawthorn Geddes Engineers & Architects for 6 years from April 2017; could be converted to retail
Rent: $21,315/year net + gst
Outcome: sold for $432,000 at a 4.93% yield; auction brought forward, bidding starting at declared reserve of $338,500
Agents: Matt Lee & James Chan

The Grange, 67 Auckland Rd, unit 15:
Features: 367m² unit in retail complex occupied by Fit Factory gym for 6 years from March 2017
Outcome: no bid
Agents: Matt Lee & James Chan

North-west

Henderson

114 Henderson Valley Rd:
Features: 2140m² site, 80-unit storage complex
Rent: $145,218/year net + gst
Outcome: passed in on vendor bid of $1.7 million
Agents: Shane Snijder & James Hill

Hobsonville

160 Hobsonville Point Rd, unit 5R:
Features: 118m² ground-floor retail unit, 2 parking spaces occupied by café on 10-year lease
Rent: $56,200/year net + gst
Outcome: no bid
Agents: Steven Liu & Eddie Zhong

South

Manurewa

232 Great South Rd:
Features: 2141m² site, 2025m² bulk retail building owned & occupied by family furniture business for 20 years, 2-year lease back
Rent: $170,000/year net + gst
Outcome: sold for $2.4 million at a 7.08% yield
Agents: Shane Snijder & Piyush Kumar

Papakura

32 Elliot St:
Features: 809m² corner site, 2-level main building, 157m² of ground-floor offices plus 106m² residential floor & 36m² terrace above currently occupied by beauty therapy business; 1920s 90m²  bungalow at rear with separate entrance & residential tenancy
Rent: $46,540/year net + gst from 2 commercial leases; $23,400/year from residential tenancy
Outcome: sold for $1.32 million at a 5.3% yield
Agents: Rod Grieve & Peter Migounoff

Attribution: Agency release.

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4 intensive residential & development properties sell

A mix of 4 properties in the intensive living & residential development sectors were sold at Bayleys auctions this week – an apartment in the 1930s Brooklyn building in the cbd, one of 2 properties in the future urban zone 28km north of the cbd at Dairy Flat, a St Heliers townhouse and a Manurewa section with development consents in place.

CBD

Learning Quarter

Brooklyn, 66 Emily Place, unit 14:
Features: one-bedroom apartment in 1930s building
Outgoings: rates $1532/year including gst; body corp levy $4208/year
Outcome: sold for $461,000
Agents: Diane Jackson & Julie Prince

Isthmus east

St Heliers

41C Vale Rd:
Features: 3-bedroom townhouse, 3 bathrooms, courtyard, parking space
Outcome: sold for $1.125 million
Agents: John Howard & Josie Moon

North-east

The 2 rural properties marked future urban, one sold and the other passed in.

Dairy Flat

18 Green Rd:
Features: flat 3.38ha in 18 paddocks, 3-bedroom house, 2 bathrooms, double garage
Outcome: passed in
Agents: Graeme Mann & Karen Asquith

20 Green Rd:
Features: 9620m² site, 2 tenanted houses, one of 2 bedrooms, the other of 3 bedrooms & 2 bathrooms, each with a single garage
Outcome: sold for $1.3 million
Agents: Graeme Mann & Karen Asquith

South

Manurewa

40 Sturdee Rd:
Features: 809m² section, 3-bedroom house near motorways, health facilities & shopping centres, resource & building consents for development approved
Outcome: sold for $725,000
Agents: Shan Collings & Marlene Dragicevich

Takanini

220 Great South Rd, unit 1:
Features: 161m² refurbished standalone mainstreet bungalow containing 7 single-level offices
Outcome: passed in
Agents: Piyush Kumar & Peter Migounoff

Attribution: Agency release.

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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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11 intensive residential properties sell at Barfoot auctions

31 intensive properties were auctioned at Barfoot & Thompson’s city office over Tuesday-Wednesday, excluding the Thursday commercial & apartments-only session (see separate report), and 11 of them have been sold.

7 were sold under the hammer, one prior and 3 post-auction.

The 31 properties on offer included one cbd apartment, 20 on cross-leases and 6 offering development prospects.

The results from those sessions are listed below in their geographic areas and then by suburb.

At the Thursday commercial & apartments auction, 2 of the 4 apartments on offer were sold under the hammer, another listed for that auction session was sold earlier, and a commercial site with residential development consent was passed in but expected to sell under the multi-offer process today.

The agency returned to simultaneous auctions in 2 rooms for the Wednesday sessions, a rarity as the market has slowed, and put a total 96 properties up for sale, including standalone suburban homes (excluding the Thursday apartments session), and sold 34 under the hammer & 5 post-auction. Another 9 were sold prior. 30 didn’t attract a bid, but some of those were sold shortly after the auction.

The constant question is: “What’s happening to the market?” There isn’t one answer. Apartments differ from suburban properties, cross-leasing doesn’t seem to worry too many, vendors are learning to take less of the windfall that was available until a few months ago and snipping their reserves under pressure.

CBD

Uptown

City Lights, 16 Liverpool St, unit 2D:
Features: 90m², 2-bedroom apartment, conservatory, balcony, parking space
Outgoings: body corp levy $5335/year
Outcome: withdrawn from auction, back on market at $660,000
Agents: Michele Ballinger & Jean-Marc D’Anglejan

Isthmus east

Ellerslie

172A Main Highway, unit 2:
Features: cross-lease, 1/4 share in 1158m², 2-bedroom unit, courtyard, carport
Outcome: sold for $680,000
Agents: Anna Stephens-Brown & Susan Palmer

25 Wilkinson Rd, unit 1:
Features: cross-lease, 2-bedroom unit, carport
Outcome: passed in
Agents: Michael & Tatyana Ataman

Epsom

59 Empire Rd:
Features: cross-lease, half share in 1244m², 4 bedrooms & one-bedroom granny flat
Outcome: no bid
Agents: Diana Buczkowski & Peter West

155 Gillies Avenue, unit 2:
Features: cross-lease, 1/6 share in 1055m², 2 bedrooms, balcony
Outcome: sold for $903,000
Agents: George Fong & Laura McAuley

511A Manukau Rd:
Features: freestanding 3-level 4-bedroom townhouse, 3 bathrooms, double internal-access garage
Outcome: passed in
Agents: Nicole Hou & Joy Chen

24 Wilding Avenue:
Features: 1075m², 3 bedrooms, double garage & workshop, zoned mixed housing urban under unitary plan
Outcome: sold prior for $3.98 million
Agents: Frances Li & Ian Thornhill

Meadowbank

59 & 63 Ripon Crescent:
Features: 2 large houses on total 2542m² (1416m² & 1126m²), zoned residential 6a (375m²/site) but zoned mixed housing suburban under the proposed unitary plan, promoted for development
Outcome: no bid for the 2 properties as a package, or singly
Agents: Brett Innes & Amy Wilson-Chan

Mt Wellington

63A Commisariat Rd:
Features: cross-lease, half share in 862m², 3 bedrooms, carport
Outcome: no bid
Agents: Lars Kuo & Lillian Wen

192 Penrose Rd:
Features: 1396m² site zoned mixed housing suburban under unitary plan, 2 houses
Outcome: no bid
Agent: Joan Xu

Panmure

10 Dunn Rd:
Features: 1038m² corner site, 2 houses, resource consent granted for 6 terrace houses, second option under unitary plan terrace housing & apartment buildings zoning allows for buildings overs 3 storeys, subject to council approval
Outcome: no bid
Agents: Neno & Silvana Radinovich

44 Pilkington Rd, unit 9:
Features: cross-lease, 1/10 share in 2067m², 2-bedroom unit, basement storage
Outcome: passed in
Agents: Lillian Bai & Craig Smith

Remuera

68 Remuera Rd, unit 11:
Features: 3-bedroom terrace, 2 bathrooms, garage, reclad in 2011 & new code compliance certificate issued
Outgoings: body corp levy $4052/year
Outcome: no bid
Agents: Frances Li & Ian Thornhill

26 Rotomahana Terrace:
Features: cross-lease, 1/3 share in 1014m², 3 bedrooms, patio, deck, garage
Outcome: passed in, back on market at $1.35 million
Agents Kelly Zhang

Royal Oak

52 Turama Rd, unit 2:
Features: cross-lease, 1/3 share in 1396m², 3 bedrooms, double garage
Outcome: sold for $1.45 million
Agents: Rod Philson & Manas Nanda

St Heliers

22B Sylvia Rd:
Features: 3-bedroom townhouse, 2 bathrooms, study, double internal-access garage
Outcome: sold for $1.31 million
Agents: Teresa Weiss

Isthmus west

Blockhouse Bay

21B Exminister St:
Features: cross-lease, half share in 680m², 2-bedroom unit, garage & workshop
Outcome: passed in, sold post-auction
Agents: William & Simon MacLean

Mt Albert

58 Taylors Rd, unit 3:
Features: cross-lease, 1/5 share in 1598m², 2-bedroom unit, carport
Outcome: passed in
Agent: Mervin Lutchman

Mt Eden

4A Dexter Avenue, unit 2:
Features: cross-lease, quarter share in 804m², 2-bedroom unit, garage
Outcome: passed in, sold post-auction
Agents: James Yu & Angel Li

28 Watling St, unit 2:
Features: cross-lease, half share in 809m², 3-bedroom townhouse
Outcome: sold for $1.2 million
Agents: Leonie Stabler & Di Lynds

Sandringham

7 Kingsway Avenue, unit 8:
Features: cross-lease, 1/8 share in 804m², 3 bedrooms, study, balcony, double carport
Outcome: passed in
Agents: Allen & Hannah Wang

4 Patterson St, unit 3:
Features: cross-lease, 1/5 share in 1214m², 2-bedroom unit, carport
Outcome: passed in, sold post-auction
Agents: Gavin Han & Maggie Chen

Waterview

9B Alvertson Rd:
Features: cross-lease, 1/4 share in 1010m², 2 bedrooms, carport
Outcome: passed in
Agent: Kris Jamieson

51A Fir St:
Features: cross-lease, half share in 1027m², 3 bedrooms, carport, storage shed, offstreet parking
Outcome: sold for $766,000
Agents: Jim Murray

Westmere

7 Kotare Avenue, unit 2:
Features: cross-lease, 1/3 share in 1169m², 2-bedroom waterfront apartment, deck, carport
Outcome: sold for $1.71 million
Agent: André Boddé

North-east

Schnapper Rock

12 Schnapper Rock Rd, unit 3:
Features: 166m², 3 bedrooms, 2 bathrooms, balcony, internal-access garage, carport
Outgoings: body corp levy $673/year
Income assessment: $650/week current
Outcome: passed in, back on market at $799,000
Agents: Zheng Yang

North-west

Henderson

3 & 5 Waitaki St:
Features: 1582m², 2 4-bedroom houses, concept plans drawn up for subdivision under unitary plan mixed housing urban zoning
Outcome: passed in
Agents: Ann Lepper & James Gai

Kelston

27A St Leonards Rd:
Features: cross-lease, half share in 1052m², 4 bedrooms, deck, double garage
Outcome: no bid, back on market at $839,000
Agents: Sylvia Lu

New Lynn

2A Mason St:
Features: cross-lease, 1/3 share in 1639m², 3 bedrooms, 3 bathrooms, garage
Outcome: no bid
Agent: Anna Copeland

Ranui

323 & 325 Swanson Rd:
Features: 1214m² (2 607m² sections), 2 houses, concept plans drawn up for 19 lowrise apartments with 70m² retail on ground floor under mixed housing urban zoning
Outcome: passed in, back on market at $2.18 million
Agents: Ren Tang & Jacky Xu

South

Manurewa

39 Rimu Rd:
Features: cross-lease, half share in 809m², 2 bedrooms, verandah, carport, storage
Outcome: passed in
Agents: Stacey Tonner

Earlier story today:
Updated: Narrow development site passed in, 2 apartments sold

Attribution: Auctions.

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Updated: 9 sell at Bayleys’ Auckland commercial auction, 2 post-auction, 3 in Wellington, 1 in Whakatane

Published 28 October 2016, updated 7 November 2016:
9 of the 16 properties auctioned in Bayleys 6th Total Property portfolio for the year were sold under the hammer on Wednesday or shortly after.

They included 2 Post Shops, and the post-auction sale of 2 properties in a mixed portfolio offered by one vendor.

Another 2, in Manurewa & Wiri, have sold post-auction at prices substantially above the levels they were passed in at (details below).

In Wellington, all 3 properties in the Total Property offering yesterday were sold. Another in Whakatane was also sold.

The Auckland auction opened with the sale of 2 Post Shop/ Kiwibank premises, one in Royal Oak (pictured) selling on a yield just under 5% and one in Mt Eden on a 3.6% yield. The second of these, on Dominion Rd, went on the market at $3.1 million and sold for $750,000 more. Auction of a third Post Shop property, in Penrose, was postponed. 2 others in Kaitaia & Thames were up for tender, closing yesterday.

3 of the 4 properties offered by Kermani Properties Ltd were passed in and the fourth, a commercial kitchen & retail premises at ground level in the Grand Chancellor Hotel building, was withdrawn. However, sales were later concluded on a standalone building in the Otara town centre & 2 buildings on Papakura’s Broadway.

CBD

Queen St

175 Queen St, unit 14:
Features: vacant 228m² top floor, secure basement parking space
Outcome: passed in at $800,000
Agents: Quinn Ngo & Matt Lee

Victoria Quarter

Grand Chancellor, 1 Hobson St:
Features: 320m² street-level retail unit with kitchen, 2 entrances from hotel lobby & street
Outcome: withdrawn from auction
Agents: Millie Liang & Oscar Kuang

Isthmus east

Otahuhu

56-58 Atkinson Avenue:
Features: Box Building, 283m² corner site, residential & commercial tenants
Rent: $74,396/year net + gst
Outcome: no bid
Agents: Tony Chaudhary & Janak Darji

Penrose

39 Station Rd:
Features: 822m² site, 413m² Post Shop building, 7 parking spaces, seismic rating 60% new building standard
Rent: $63,000/year net + gst
Outcome: auction postponed
Agents: Cameron Melhuish & Andrew Wallace

Remuera

551-553 Remuera Rd:
Features: 531m² site, 220m² 2-level character building, ground-floor retail, offices upstairs, rear access off Upland Rd; 3-year lease from May to long established tenant School Uniform Centre, in occupation since 1998, with 2 3-year rights of renewal
Rent: $57,200/year net + gst
Outcome: sold for $1.69 million at a 3.38% yield
Agents: James Chan, Quinn Ngo & Owen Ding

Royal Oak

794 Manukau Rd:
Features: 581m² site on roundabout, 277m² single-level building, A grade seismic rating; town centre zoning, 27m height overlay; building occupies about half the site on one title, separate land-only title used for casual parking
Rent: $103,000/year net + gst; Post Shop/ Kiwibank franchisee contributes $58,000, balance paid by liquor store
Outcome: sold for $2.07 million at a 4.97% yield
Agents: Cameron Melhuish & Alan Haydock

Isthmus west

Mt Eden

371 Dominion Rd:
Features: 974m² corner site, 581m² 2-level building fully occupied on 3- to 6-year lease terms; Post Shop/Kiwibank franchisee & copy centre occupy the ground floor with an office tenant above; An underutilised vacant land area behind the building, accessed off King Edward St, provides a development opportunity; local centre zoning allows buildings up to 3 storeys incorporating upper floor residential
Rent: $134,362/year net + gst
Outcome: sold for $3.85 million at a 3.59% yield
Agents: Cameron Melhuish & Alan Haydock

North

Whangarei

Kensington, 11 Kensington Avenue:
Features: 2300m² site, new 650m² radiology facility set among other healthcare complexes, 9-year lease to TRG Imaging, NZ’s largest radiology group, one 6-year right of renewal
Rent: $192,000/year net + gst
Outcome: sold for $3.115 million at a 6.16% yield
Agents: Ranjan Unka & Ross Blomfield

North-east

Albany

6-8 Omega St, units 7 & 9:
Features: office units of 227m² & 222m², 8 exclusive parking spaces + more shared
Rent: $110,000/year net + gst from new 3-year lease
Outcome: withdrawn from auction
Agents: Alex Strever & Dean Gilbert-Smith

52 Oteha Valley Rd, unit A:
Features: 70m² retail unit occupied by liquor store
Rent: lease recently renewed for 3 years at $30,102/year net
Outcome: sold for $585,000 at a 5.14% yield
Agents: Matt Mimmack & Alex Strever

South

East Tamaki

20 Kerwyn Avenue, factory 1:
Features: cross-lease, half share in 3000m², 765m² medium-stud industrial premises on high visibility corner site with dual street access; 587m² factory/workshop with 4 roller doors
Rent: longstanding monthly tenancy returning $81,900/year
Outcome: sold for $1.825 million at a 4.48% yield
Agents: Jamsheed Sidhwa & Luke Carran

11 Stonedon Drive, unit H:
Features: 170m² industrial unit, 2 roller doors, 3 parking spaces; tenant of 12 years, United Industries, has signed for an additional 5 years, with 5 more 5-year rights of renewal
Rent: $32,400/year net + gst
Outcome: sold for $720,000 (including $93,913 gst) at a 5.17% yield
Agents: Nelson Raines

Manurewa

Updated: 185-189 Great South Rd:
Features: 2-level 1124m² commercial unit with multiple retail & office tenants, between New World & South Mall entrance
Rent: $215,921/year net + gst
Outcome: passed in at $2 million, sold post-auction for $2.45 million at an 8.81% yield
Agents: Oscar Kuang, James Chan, Tony Chaudhary & Janak Darji

Otara

The Kermani building on Fair Mall place, Otara, sold post-auction.

The Kermani building on Fair Mall place, Otara, sold post-auction.

19 Fair Mall Place:
Features: 501m² site in heart of the town centre, multi-tenanted 980m² building; ground floor fully leased on 3- to 6-year terms to butcher, TAB, pizza outlet & discount store; 485m² upstairs, recently occupied by a nightclub, is vacant
Rent: $174,702/year net + gst
Outcome: passed in at $1.675 million, sold shortly after for $1.76 million
Agents: Oscar Kuang & James Chan

Papakura

28-30 Broadway:
Features: 488m² site in 2 titles, 2 adjoining retail & office buildings totalling 569m², metropolitan centre zoning has height allowance of 40.5m
Outcome: passed in at $510,000, sold shortly after for $545,000 with vacant possession
Agents: Oscar Kuang, Peter Migounoff & Tony Chaudhary

201-203 Great South Rd:
Features: 438m² site, vacant 700m² floor area – 390m² ground-floor retail in former bank, 131m² mezzanine, 179m² rear warehouse & parking
Outcome: no bid
Agents: Piyush Kumar & Peter Migounoff

82 Hunua Rd:
Features: 1.9488ha site zoned industrial 4 (heavy zoning)
Outcome: no bid
Agents: Shane Snijder & Peter Migounoff

Wiri

Updated: 14 Aerovista Place:
Features: 3931m² bare land, zoned heavy industrial, new 5-year lease from March 2016 to Titan Containers NZ
Rent: $100,000/year net + gst
Outcome: passed in at $1.55 million, sold post-auction for $1.75 million at a 5.71% yield and a land value of  $445/m2
Agents: Nick Bayley & Dave Stanley

South of the Bombays

Bay of Plenty

Whakatane

34 Valley Rd:
Features: 3046m² site, 1548m² storage facility, multi-tenanted 74-unit complex with 95-100% occupancy
Outcome: sold as a freehold going concern for $1.325 million
Agents: Brendon Bradley & Matthew Gibbard

Manawatu

Palmerston North

14-18 Broadway Avenue (auctioned in Auckland):
Features: 337m² site, 1400m² floor area,
Rent: $36,000/year net + gst from 2 tenants
Outcome: no bid
Agents: Quinn Ngo & Owen Ding

Wellington

Lower Hutt – Alicetown

31 Wakefield St:
Features: 485m² workshop/office building, fully refurbished & strengthened to 75% of new building standard, new 6-year lease to Central Electrical which has been in occupation for 15 years
Rent: $55,000/year net + gst, annual 2.5% increases
Outcome: sold for $720,000 at a 7.63% yield
Agents: Andrew Smith & Paul Cudby

Tawa

180-182 Main Rd:
Features: 506m² site in shopping precinct, 670m² 2-level commercial building, 5 leased retail tenancies on ground floor plus 5 smaller office tenancies above and one larger vacant office tenancy
Outcome: sold for $869,000
Agent: Jon Pottinger

Upper Hutt

806 – 808 Fergusson Drive:
Features: 916m² fringe city site, 960m² high stud warehouse; Jetts Gym & Pak ’n Save have new leases running until 2022
Rent: $110,000/year net + gst
Outcome: sold for $1.21 million at a 9.09% yield
Agents: Matt Gibbs & Fraser Press

Attribution: Auction, agency releases.

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Updated & corrected: Fight for Porana Rd site a feature as 7 sell at Bayleys auction, 9 now sold

Published 6 July 2016, updated 11 July 2016:
7 of the 14 properties in Bayleys’ third Auckland Total Property portfolio of the year were sold at auction on 6 July, and one was sold prior. A New Windsor property has been sold post-auction.

A feature of the day’s bidding was the battle between a Wairau Valley property’s neighbour & 3 developers (among other bidders) – the neighbour entering the fray late and outlasting his competition for the Porana Rd site (pictured). Although the transaction registers at a 3.35% yield on current monthly rent, site aggregation is always differently based.

The auction took an unusual turn for a Bayleys commercial auction after the first 3 properties were sold, as the next 4 were all passed in, followed by the Porana Rd battle.

The sale price on a Hillside Rd, Wairau Valley, property has been corrected.

Isthmus east

Grafton

73 Boston Rd:
Features: 334m² site in mixed-use zone, 114m² commercial villa, 3 parking spaces + 25m² freestanding one-bedroom flat; proposed unitary plan allows for 20.5m height
Outcome: sold for $1.7 million
Agents: Phil & Alan Haydock

Meadowbank

16-18 St Johns Rd:
Features: 223m² site, 264m² floor area, seismically strengthened to 70% new building standard & refurbished, 2 shops, 3-bedroom flat above
Rent: $80,544/year + gst, potential $116,000/year net & vacant possession of flat
Outcome: sold for $2.302 million at a 5.04% yield on the potential rent
Agents: Cameron Melhuish & Andrew Wallace

Penrose

30 O’Rorke Rd:
Features: 3120m² industrial site, 1700m² premises, leasehold interest for sale, fixed expiry 2044, fully tenanted – 3 tenants on leases to 2018 & 2020 with renewal rights; freehold held by Tram Lease Ltd
Rent: $169,800/year + gst
Outcome: reserve of $560,000 declared, no bid
Agents: Graham Anderson & Greg Hall

Isthmus west

New Windsor

Updated: 63 New Windsor Rd:
Features: corner block of shops, 170m² floor area, tenants a café, electrician & laundromat
Rent: $41,465/year net + gst
Outcome: passed in at $890,000, sold post-auction for $936,150
Agents: Oscar Kuang & Matt Lee

Ponsonby

223 Ponsonby Rd:
Features: 4 flats, 3 refurbished
Rent: fully leased, returning $125,580/year
Outcome: passed in at $3.1 million
Agents: Damien Bullick & Alan Haydock

North-east

Orewa

70 Grand Drive, units G & H:
Features: 387m² restaurant & gaming lounge in 2 units of modern complex
Outcome: no bid
Agents: Mustan Bagasra

Takapuna

347-349 Lake Rd:
Features: 245m² site, 230m² floor area
Rent: $80,500/year net + gst
Outcome: passed in at $1.7 million
Agents: Simon Aldridge & Michael Nees

Wairau Valley

Corrected: 57 Hillside Rd, unit C:
Features: 616m² industrial property – warehouse 308m², office & amenities 150m², mezzanine storage 158m²
Rent: tenant on monthly gross rent of $6500 + gst + outgoings, or $78,000/year
Outcome: sold for $1.09 million (originally written as $1.9 million)
Agents: Alex Strever & Trevor Dufin

60 Porana Rd (pictured):
Features: 1791m² site, 700m² floor area in industrial building, bought by neighbour
Rent: tenant on monthly rent of $5250 + gst + outgoings, or $63,000/year
Outcome: sold for $1.88 million at 3.35% on current rent
Agents: Trevor Duffin & Alex Strever

North-west

Glen Eden

5 Oates Rd, unit 4:
Features: 77m² strata title, bakery on 6-year lease
Rent: $27,040/year net + gst
Outcome: sold for $635,000 at a 4.26% yield
Agents: Oscar Kuang & Quinn Ngo

South

Manurewa

18 Mahia Rd:
Features: 2448m² corner site in 3 titles, 1606m² warehouse & workshop, same tenant for 23 years, seismic rating 90%
Rent: $168,603/year net + gst, 4-year lease from July 2015
Outcome: passed in at $2.7 million
Agents: Nick Bayley & Dave Stanley

Papakura

179-181 Great South Rd:
Features: 460m² site, 477m² building, 2 tenancies
Rent: $77,083/year net + gst
Outcome: sold for $1.31 million at a 5.9% yield
Agents: Peter Migounoff & Piyush Kumar

Somerville

90C Whitford Rd:
Features: 110m² Chinese restaurant
Rent: $40,860/year net + gst, 3-year lease renewed until September 2019
Outcome: sold for $715,000 at a 5.7% yield
Agents: Quinn Ngo & Katie Wu

South of the Bombays – Taranaki

New Plymouth

21 Currie St:
Features: 3070m² site, fully leased, former post office converted to retail, banking & Quest serviced apartments, fully leased parking
Rent: $1.1 million/year passing income
Outcome: sold prior, price not disclosed
Agents: Paul Dixon & Alan Johnston

Attribution: Auction.

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21 sell out of 34 offered at Bayleys Total Property auction

Bayleys finished its Total Property auction series for the year with 20 sales under the hammer on Wednesday from 34 properties offered, and a post-auction sale confirmed yesterday. Another 11 were withdrawn from the auction.

Image at top: 8 Newton Rd, Grey Lynn, a refurbished building with a mix of uses including a loft-style apartment, sold vacant.

CBD

Quay Park

8 Quay St, unit 1:
Outcome: withdrawn from auction
Agents: Owen Ding & Quinn Ngo

Victoria St

Lister Building, 9B Victoria St East:
9B Victoria Street East, Auckland Central:
Features: 48m² shop, lease to convenience store for 3 years from June 2015, one 6-year right of renewal
Rent: $48,000/year net + gst, yearly 2.5% increases from June 2018 if renewal exercised
Outcome: sold for $820,000 at a 5.85% yield
Agents: Quinn Ngo & Owen Ding

Waterfront

Princes Wharf, 137 Quay St, shed 19, unit 2:
Features: 482m2 leasehold commercial unit plus 63.5m² outdoor seating area, ground rent prepaid until 2095
Outcome: sold for $1.15 million at mortgagee sale
Agent: Tony Bayley

Isthmus east

Ellerslie

38 Eaglehurst Rd, unit 9:
Outcome: withdrawn from auction
Agents: Dave Stanley & James Valintine

Epsom

89B Great South Rd:
Features: 167m2 site, character 2-level 111m2 live/work unit, 2-year lease to tailoring business from March 2015 plus one 2-year right of renewal
Rent: $28,350/year net + gst
Outcome: sold for $675,000 at a 4.2% yield
Agents: Oscar Kuang, James Chan & Terry Kim

Otahuhu

24 Atkinson Avenue, Otahuhu, retail building with development potential.

24 Atkinson Avenue, Otahuhu, retail building with development potential.

24 Atkinson Avenue:
Features: 385m2 mixed-use corner site, height limit of 20.5m under proposed unitary plan, 3 ground-floor retail outlets & 2 flats upstairs
Rent: $42,000/year net + gst from 2 retail leases & one residential tenancy
Outcome: sold for $985,000
Agents: Piyush Kumar, Shane Snijder & Tony Chaudhary

Penrose

35 Maurice Rd, unit I:
Outcome: withdrawn from auction
Agents: Tony Bayley

Isthmus west

Avondale

1977 Great North Rd, Avondale, sold at a yield just under 5%.

1977 Great North Rd, Avondale, sold at a yield just under 5%.

1977 Great North Rd:
Features: 202m² site, 265m² building in block of shops, ground-floor lease to a fruit & vege retailer until June 2017, one 3-year right of renewal, basement area vacant
Rent: $26,400/year net + gst
Outcome: sold for $530,000 at a 4.98% yield
Agents: Mike Adams, James Appleby & Quinn Ngo

Eden Terrace

74D France St:
Outcome: passed in
Agents: Ben Wallace & Matt Gordon

33 Randolph St:
Features: Vacant 2-level 364m² building, ground-floor warehousing & refurbished loft-style upper level suitable for office or apartment use; on 281m² mixed-use site with increased height limit of 32.5m under proposed unitary plan
Outcome: passed in at $1.8 million
Agents: Damien Bullick, Alan Haydock & Jean-Paul Smit

Grey Lynn

564 Great North Rd:
Outcome: passed in, vendor bid of $600,000
Agents: Simon Aldridge & Michael Nees

8 Newton Rd:
Features: 304m2 mixed-use site, 317.5m2 striking architecturally designed & refurbished 2-level building, loft-style apartment with open-plan, character ground-floor space, 4 parking spaces
Outcome: sold vacant for $1.6 million
Agents: Cameron Melhuish & Andrew Wallace

116-120 Surrey Crescent:
Features: 3 dwellings converted to childcare centre plus flat, total 575m² on 1515m² residential 6A site, zoned mixed use under proposed unitary plan; 10-year lease to NZX-listed Evolve Group from July 2012, 2 3-year rights of renewal
Rent: $190,383/year net + gst, 2-yearly CPI adjustments
Outcome: sold for $4.155 million at a 4.6% yield
Agents: Mark Pittaway & James Chan

Mt Eden

718 Dominion Rd:
Outcome: withdrawn from auction
Agents: Oscar Kuang & James Chan

Pt Chevalier

1104 Great North Rd:
Features: 255m² retail unit, parking at front, occupied by Video Ezy on monthly lease until end of year, plus ASB ATM lease
Rent: $88,100/year net + gst
Outcome: sold for $1.05 million at an 8.4% yield
Agents: Quinn Ngo & Matt Lee

North

Kerikeri

60 Kerikeri Rd, unit G06:
Outcome: no bid
Agents: Michael Nees & Brian Caldwell

Warkworth

Artist’s impression of The Grange, Warkworth.

Artist’s impression of The Grange, Warkworth.

3 tenancies were taken to auction in the new Grange retail convenience centre being developed by Square & Main Street Ltd (Adam Reynolds), nearing completion on the former garden & hardware centre site on the southern side of Warkworth. The property at 67 Auckland Road (State Highway 1) covers 7089m²and will have 22 tenancies.

The Grange, 67 Auckland Road, unit PU4, The Coffee Club:
Features: 210m2 unit, including 50m2 covered, all-weather deck & courtyard area, 10-year lease to Coffee Club & one 10-year right of renewal
Rent: $82,500/year net + gst
Outcome: sold for $1.55 million at a 5.3% yield
Agents: James Chan & Steve Orr

The Grange, unit PU2, Bottle-O:
Features: 200m² unit, 8-year lease to independently owned & operated NZ retail liquor store plus 2 4-year rights of renewal
Rent: $70,000/year net + gst
Outcome: sold for $1.16 million at a 6% yield
Agents: Quinn Ngo & Steve Orr

The Grange, unit PU3A, Indian restaurant:
Features: 142m² unit, including 25m2 deck, leased to local Indian restaurant on 10-year term, 2 5-year rights of renewal
Rent: $50,550/year net + gst
Outcome: passed in at $600,000
Agents: James Chan & Matt Lee

North-east

Albany

52 Oteha Valley Rd, unit M:
Features: 278mstandalone retail building occupied by the Meat King for 14 years, new 4-year lease plus one 4-year right of renewal
Rent: $114,000/year net + gst
Outcome: sold for $2.05 million at a 5.6% yield
Agents: Adam Curtis & Adam Watton

Birkenhead

65-67 Birkenhead Avenue:
Outcome: passed in at $2.6 million
Agents: Damian Stephen & Adam Curtis

Rosedale

8 Arrenway Drive:
Outcome: no bid
Agents: Matt Mimmack & Laurie Burt

36 Tarndale Grove:
Outcome: withdrawn from auction
Agents: Matt Mimmack & Ashton Geissler

18 Triton Drive, unit H1:
Outcome: passed in, vendor bid of $900,000
Agents: Terry Kim & Damian Stephen

49A William Pickering Drive:
Features: 368m2 building, 56m2 courtyard, 24 parking spaces, 9-year lease to New Brew bar & restaurant from September 2014 & one 6-year right of renewal
Rent: $123,360/year net + gst
Outcome: sold for $2.265 million at a 5.4% yield
Agents: Ashton Geissler, Ranjan Unka, Damian Stephen & Tony Chaudhary

Sunnynook

318 East Coast Rd:
Outcome: passed in
Agents: Tony Chaudhary & Ranjan Unka

Wairau Valley

20 Link Drive, unit MM:
Outcome: no bid
Agents: Adam Watton & Michael Block

North-west

Henderson

103 Lincoln Rd:
Features: 809msite, 110m2  dwelling converted for office use
Outcome: sold with vacant possession for $1 million
Agents: Tony Chaudhary & James Appleby

192 Universal Drive, unit A6:
Outcome: withdrawn from auction
Agents: Alan Haydock & Cameron Melhuish

New Lynn

76 Delta Avenue:
Outcome: passed in
Agents: Grant Miller & Peter Turner

Te Atatu Peninsula

29 Neil Avenue:
Features: 819mcorner site, 3 retail tenancies – a hairdresser, dairy & chocolate maker – plus vacant 3-bedroom flat    
Rent: $47,650/year net + gst
Outcome: sold for $880,000 at a 5.4% yield
Agents: Tony Chaudhary & Mike Adams

South

East Tamaki

171 Harris Rd:
Outcome: withdrawn from auction
Agents: Jamsheed Sidhwa & Luke Carran

2 Kerwyn Avenue, unit C:
Features: 1149m² industrial unit with access also from Springs Road, 24 parking spaces, seismic assessment of 140% new building standard
Rent: holding income until May of $149,000/year net + gst
Outcome: sold to owner-occupier for $1.7 million
Agents: Tony Chaudhary, John Bolton & Janak Darji

5A Nandina Avenue:
Features: 806m² roadfront industrial unit, occupied by gym for over 25 years, currently on 6-year lease from August 2011 with 2 2-year rights of renewal, 21 parking spaces
Rent: $88,000/year net + gst
Outcome: sold for $1.5 million at a 5.9% yield
Agents: Dave Stanley, Mike Marinkovich, & Tony Chaudhary

Pakuranga, Highland Park

168 Aviemore Drive, unit G:
Features: 314m2 upper level of 2-level commercial building, new 4-year lease plus 2 4-year rights of renewal to Creative Dental Ltd
Rent: $79,020/year net + gst
Outcome: sold for $1 million at a 7.9% yield
Agents: Geoff Wyatt & Nick Bayley

Howick

5 retail units in an established convenience centre at 219 Moore St, Howick, were on Wednesday’s auction list but 3 were among properties withdrawn when the auction ran over time.

219 Moore St, unit A:
Outcome: passed in at $1.135 million
Agents: Millie Liang & Tony Chaudhary

219 Moore St, units B, C & D:
Outcome: withdrawn from auction
Agents: Millie Liang & Tony Chaudhary

219 Moore St, unit E:
Outcome: passed in at $1.15 million
Agents: Millie Liang & Tony Chaudhary

10 Wellington St, unit 8:
Features: 85m² retail unit in The Terraces retail & residential complex, leased to clothing store
Rent: $33,592/year net + gst
Outcome: sold for $470,000 at a 7.1% yield
Agents: Quinn Ngo & Geoff Wyatt

Mangere

17 Airpark Drive, unit 7:
Features: 450m2 modern, high-stud, tilt slab warehouse in Airport Oaks precinct
Outcome: sold with vacant possession for $870,000
Agents: Nick Bayley & Dave Stanley

Manurewa

165 Great South Rd:
Features: 455m2 site, 350m2 retail block with 3 tenants – dairy, hair salon & butcher
Rent: $90,800/year net + gst
Outcome: sold for $1.55 million at a 5.85% yield
Agents: Tony Chaudhary & Piyush Kumar

Waiuku

18 Martyn St:
Outcome: withdrawn from auction
Agents: Tonia Robertson & Tony Chaudhary

South of Bombays

Waikato – Raglan

2 Main Rd:
Features: 1167m² site, BP service station & workshop, 20-year head lease from July 2014 to a wholly owned subsidiary of No 8 Retail Group Ltd, 4 6-year rights of renewal, only petrol station in the town
Rent: $115,000/year net + gst, 4% rental increases every 2 years
Outcome: sold post-auction for $ 2.115 million at a 5.4% yield
Agents: Tony Chaudhary & Janak Darji, Bayleys South Auckland

Attribution: Auction.

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10 sales & 3 leases in South Auckland

Bayleys agents in South Auckland have recorded 10 sales, including one extra sale out of last week’s auction, and 3 leasing transactions.

South

Sales

Clover Park

18 Dissmeyer Drive:
Features: 200m2 mixed use building on 623m2 business 1-zoned site, 2 retail tenancies, one a superette on new 4-year lease, the other vacant; residence above
Rent: $26,000/year net + gst for commercial tenant; $400/week for periodic residential tenancy
Outcome: sold for $1.025 million, purchaser will occupy vacant tenancy on half of ground floor
Agents: Tony Chaudhary & Janak Darji

Manukau

132 Cavendish Drive, unit 4:
Features: 422m2 building – 243m2 workshop, 79m2 office, 84m2 showroom, occupied by Midas Car Care, which exercised the last of 2 6-year rights of renewal in 2013
Rent: $71,190/year net + gst
Outcome: sold for $1.18 million at a 6% yield
Agents: Katie Wu & John Bolton

8 Puhinui Rd, unit 1 (pictured above):
Features: 537m2 2-level commercial building, 36 parking spaces, educational institute on 3-year lease from May 2014 with one 3-year right of renewal
Rent: $135,295/year net + gst
Outcome: sold for $1.75 million at a 7.7% yield
Agent: Mark Pittaway

3 Wilko Place:
Features: New 1444m2 industrial building scheduled for completion mid-2016 on 2215mbusiness 6-zoned site – 1228m2 warehouse with 9m-10.3m stud, plus 175m2 canopy & 216m2 office
Outcome: sold with vacant possession for $3.21 million
Agent: Mike Marinkovich

Manurewa

Unit 1, 1327 Alfriston Rd:
Features: 86m2 workshop on 560m2 site
Outcome: sold for $230,000 at a 5.2% yield
Agents: Shane Snijder & Piyush Kumar

28A & 28B Maich Rd, unit D:
Features: 150m2 warehouse on 1287m2 business 5-zoned site
Outcome: sold vacant for $575,000
Agents: Tony Chaudhary & Janak Darji

175-177 Russell Rd:
Features: 230m2 warehouse/office building on 1284m2 site, with small lease for yard space on 2-year term from February 2015 with no reviews or rights of renewal
Rent: $15,000/year net + gst
Outcome: sold as freehold going concern for $715,000
Agents: Piyush Kumar & Peter Migounoff

Papakura:

31 Elliot St:
Features: 500m2 warehouse on 799m2 commercial 1-zoned site, 2 tenants on 1- & 3-year leases
Rent: $40,000/year net + gst
Outcome: sold for $600,000 at a 6.6% yield
Agents: Piyush Kumar & Peter Migounoff

55 Hunua Rd, Papakura, sold post-auction.

55 Hunua Rd, Papakura, sold post-auction.

55 Hunua Rd:
Features: vacant 4057m² site, trucking facility with modern workshop & mechanics’ pit, air-conditioned offices, 492m² of building
Outcome: sold post-auction for $1.25 million (passed in at $1.15 million)
Agents: Shane Snijder & Peter Migounoff

Pukekohe

22 Queen St:
Features: 206m2 tilt-slab office building constructed in 2007 on 300m2 roadfront site
Outcome: sold vacant for $895,000
Agent: Graeme Moore

Leases 

Manurewa

12 Maich Rd:
Features: 480mwarehouse leased for 3 years with 2-yearly rent reviews & 2 3-year rights of renewal
Rent: $51,000/year net + gst
Agents: Piyush Kumar & Peter Migounoff

Takanini

6B Marphona Crescent:
Features: 740m2 warehouse, 123m2 office space & 13 parking spaces on industrial site leased for 4 years with CPI rent review
Rent: $137,500/year net + gst
Agents: Peter Migounoff & Katie Wu

70 Spartan Rd:
Features: 2600m2 yard area on industrial site, plus 150m2 office space, leased for 2 years for parking trucks, annual rent reviews to CPI & one 2-year right of renewal
Rent: $66,000/year net + gst
Agent: Peter Migounoff

 

Attribution: Agency release.

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2 Devonport commercial properties sold

4 of the 8 commercial properties offered at Colliers’ commercial auction yesterday were sold under the hammer or shortly after, including 2 adjoining Devonport town centre properties (pictured; one under conditional contract). Negotiations were also under way on the fifth of the properties auctioned, and on 2 of the 3 that had been withdrawn.

Isthmus west

Avondale

356 Rosebank Rd:
Features: 1130m² site, 487m² building
Rent: $52,224/year net
Outcome: sold for $1.34 million at a 3.9% yield
Agents: Craig Smith & Dhiru Patel

North-east

Devonport

12 Clarence St & 49-Victoria Rd:
Features: 960m² corner site, 892m² floor area, multi-tenanted retail/commercial property with development potential
Outcome: passed in at $5.05 million, under conditional contract post-auction at $5.5 million
Agents: Euan Stratton, Deborah Dowling & Charlie Oscroft

14 Clarence St:
Features: 408m² in 2 tenancies, retail/commercial property, pending vacancy allows for growth
Rent: $72,200/year net
Outcome: passed in at $1.2 million, sold post-auction for $2 million at a 3.6% yield
Agents: Euan Stratton, Deborah Dowling & Charlie Oscroft

Rosedale

63 Apollo Drive, unit B3:
Features: multi-tenanted corner site
Rent: $153,511/year net
Outcome: auction postponed but under negotiation
Agents: Janet Marshall & Paul Salmon

Silverdale

23-25 Wainui Rd:
Features: 197m² land & floor area, plus 13m² deck, Northern Union Gastro Pub as tenant in the new Silverdale Centre
Rent: $123,750/year net, 10-year lease from June 2014
Outcome: withdrawn from auction, under negotiation
Agents: Shoneet Chand & Matt Prentice

North-west

Henderson

302 Henderson Valley Rd:
Features: 2233m² site, childcare centre licensed for 50 children and café/function complex Outcome: auction cancelled
Agents: Peter Kermode, Michael Bray & Deborah Dowling

South

Manukau

40 Cavendish Drive, unit 1:
Features: recently refurbished, Bike Barn (Bike International Ltd) as tenant on new 6-year lease
Rent: $100,000/year net + gst
Outcome: sold for $1.755 million at a 5.69% yield
Agents: Adam White & Peter Kermode

Manurewa

2 Russell Rd:
Features: corner site
Rent: $103,577/year net + gst
Outcome: passed in at $1.3 million, under negotiation
Agents: Jeremy Barnett & Dhiru Patel

Attribution: Auction.

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