Archive | Pakuranga

3 properties pulled from auction list plus 3 more in South Auckland sold

3 South Auckland properties originally included in Bayleys’ Total Property 3 auction list, but excluded before the 17 May event, have since been sold. They are 60-62 Tiraumea Drive in Pakuranga, 254A Roscommon Rd in Wiri and 336 Great South Rd, Papakura.

Another 5 properties in East Tamaki, Flat Bush, Papakura & Pukekohe have also been sold.

South

East Tamaki

37 Greenmount Drive, unit C7:
Features: 109m² industrial unit – 81m² high stud warehouse & amenities, 28m² mezzanine floor, full height roller door & 3-phase power, 2 parking spaces, controlled access to complex
Outcome: passed in
Agents: Roy Rudolph & Katie Wu

3 Torrens Rd, unit 4:
Features: 155m² unit in Burswood retail strip, ground-floor retail space of 135m2 plus 25m² mezzanine, 4 parking spaces at front & one at rear
Outcome: sold vacant for $465,000
Agents: Katie Wu & Ken Hu

Flat Bush

201 Murphys Rd:
Features: 1386m² of bare land zoned neighbourhood centre allowing for 3-level buildings, retail on ground floor & residential above
Outcome: sold for $1.95 million at $1407/m²
Agent: Dave Stanley

Pakuranga

60-62 Tiraumea Drive:
Features: 1355m² corner site in 2 titles zoned business neighbourhood centre, 430m2 single-level building, 3 shops (one vacant) plus residential accommodation
Rent: $50,010/year net + gst, estimated potential income about $65,000/year net + gst
Outcome: sold for $940,000 at a 5.3% yield on current rent, 6.9% on prospective rent
Agents: Tony Chaudhary, Janak Darji & Amy Weng

Papakura

336 Great South Rd:
Features: 1419m² corner site, resource consent granted for childcare centre catering for 85 children in 519m² of proposed building plus existing dwelling, with plans for 3 indoor play areas & 17 parking spaces
Outcome: sold for $1.45 million
Agents: Tony Chaudhary, Amy Weng & Janak Darji

82 Hunua Rd:
Features: 1.9488ha rear, mostly bare site zoned heavy industrial
Outcome: sold with vacant possession for $4.4 million at $225.70/m²
Agents: Shane Snijder & Peter Migounoff

Pukekohe

200 King St:
Features: 220m² streetfront retail & office, occupied by a sushi shop & an accountancy practice
Rent: $76,825/year net + gst
Outcome: sold for $1 million at a 7.7% yield
Agents: Shane Snijder & Peter Migounoff

Wiri

254A Roscommon Rd:
Features: 3886m² level industrial site, security-fenced yard, 497m² of various basic buildings
Rent: $5394/year net + gst holding income
Outcome: sold for $2.15 million at $556/m2
Agents: Shane Snijder, Nick Bayley & Jamsheed Sidhwa

Attribution: Agency release.

Continue Reading

Warehouse, 2 cross-leases & a multi-unit property sell

A Mt Wellington warehouse, 2 residential cross-leases and property with 4 units on the one title were sold at Barfoot & Thompson auctions over the last 2 days.

Units in City Gardens & the Celestion were passed in, one in Tower Hill was sold prior and one in the Metropolis was withdrawn from auction.

Commercial

Isthmus east

Mt Wellington

48 Elizabeth Knox Place:
Features: 1937m² section, 811m² warehouse with about 500m² of mezzanine storage, 67m² ground-floor amenities & office, 42m² mezzanine amenities
Outcome: sold for $2.15 million
Agent: Mike Jensen

Apartments

CBD

Albert St

City Gardens, 76 Albert St, unit 23A:
Features: 59m², 2-bedroom corner apartment
Outgoings: body corp levy $4518/year; special remediation levies have been paid in full and the unit has an indicative settlement share of $133,889 to cover further costs; current ballpark estimates of remediation are about $22 million including gst
Outcome: passed in, back on the market at $449,000
Agents: Livia Li & Alan Guo

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1010:
Features: one bedroom
Outgoings: body corp levy $4072/year
Outcome: withdrawn from auction
Agent: Paul Neshausen

Learning Quarter

Celestion, 19 Anzac Avenue, unit 302:
Features: 56m², air-conditioned 2-bedroom apartment, 11m² balcony
Outgoings: body corp levy $4284/year
Outcome: passed in
Agent: Jason Buckwell

Tower Hill, 1 Emily Place, unit 10C:
Features: 2 bedrooms, parking space, storage locker
Outcome: sold prior
Agent: Aaron Cook

Isthmus east

Grafton

31 Boston Rd:
Features: 151m² 4-bedroom apartment, mezzanine lounge, private courtyard; 112m² 2-bedroom apartment, balcony; 87m² 3-room office space; 158m² warehouse, 7 offstreet parking spaces; total 530m²
Outcome: auction postponed until Thursday 9 March at 10am
Agents: Ross & Joss Goodall

Mission Bay

63 Selwyn Avenue, unit 5:
Features: cross-lease, 1/6 share in 1038m², 2-bedroom unit, carport
Outcome: sold for $696,500
Agents: Jane & David Wang

Mt Wellington

36A Harding Avenue:
Features: 1149m² section, 4 one-bedroom units on one title, 4 carports
Income assessment: $66,560/year appraisal in present condition
Outcome: on the market at $1.21 million, sold for $1.76 million
Agent: Rain Diao

Onehunga

95N Mays Rd:
Features: 80m² 2-bedroom terrace, patio, 2 parking spaces
Outgoings: body corp levy $561/year, but $66,792 in special remediation levies was raised last year, estimated to be 60% of remediation costs; the body corporate has a claim before the Weathertight Home Resolution Service
Outcome: passed in, back on market at $598,000
Agents: Su Ma & Hattie Huo

Parnell

15 Augustus Terrace, unit 2C:
Features: one bedroom, parking space, storage unit
Outcome: no bid, back on market at $495,000
Agents: Jill Jackson & Emma John

25 Cheshire St, unit A3:
Features: one-bedroom apartment, balcony, tandem parking
Outgoings: body corp levy $4296/year
Outcome: no bid
Agents: Michael & Tatyana Ataman

Isthmus west

Avondale

6 Elm St:
Features: 1012m² section, 3-bedroom villa & adjoining 12-bedroom extension, 2 bathrooms, 3 living areas, 6 offstreet parking spaces
Outcome: no bid, back on market at $1.999 million
Agent: Jason Li

Grey Lynn

34 Prime Rd:
Features: cross-lease, half share in 617m², 5-bedroom bungalow, 2 bathrooms, 2 parking spaces
Outcome: auction brought forward after $1.52 million offer was acceptable, sold under the hammer for $1.647 million
Agents: Repeka Lelaulu

South

Pakuranga

25 Pandora Place:
Features: 726m² section, 2 one-bedroom units & one 2-bedroom unit, garage, 2 carports, 3 other parking spaces
Outcome: passed in
Agent: Rain Diao

Attribution: Auction.

Continue Reading

The $1 million property, and the intensive auction results

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

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

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

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

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

CBD

Learning Quarter

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

Quay Park

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

Isthmus east

Ellerslie

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

Epsom

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

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

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

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

Glendowie

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

Greenlane

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

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

Meadowbank

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

Mission Bay

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

Mt Wellington

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

Onehunga

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

Remuera

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

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

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

St Heliers

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

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

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

St Johns

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

Isthmus west

Kingsland

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

Mt Eden

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

Mt Roskill

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

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

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

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

Pt Chevalier

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

Waterview

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

North-west

Henderson

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

South

Pakuranga

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

Attribution: Auctions.

Continue Reading

Updated: 5 Lincoln Rd retail units sell at auction

Auctioneer John Bowring took 105 bids on the first of 5 shops in Aubrey Edward Group Ltd (Tom Tuke & Dean Whimp)’s 301 Lincoln Rd development yesterday before selling it on a 5.1% yield, and took over 70 bids on 2 more of the outlets.

The first of these outlets, a standalone Texas Chicken drive-through at the entrance, took 40 minutes to get to a sale. The eventual outcome at the Colliers auction was 5 sales out of 5 for the Henderson development at yields ranging from a whisker under 5% up to 5.4%.

After that, potential bidders on the remaining 3 properties on the Shore & at Pakuranga chickened out. 2 of these properties received no bid and the third, offered with vacant possession, was also passed in – but was sold 6 days later.

North-east

Forrest Hill

120 Sunnynook Rd, unit 0:
Features: 209m² fruit & vege shop & coolstore, plus Vodafone tower, 15-year lease from May 2011
Rent: $112,162.50/year net + gst
Outcome: no bid
Agents: Jimmy O’Brien, Euan Stratton & Mike Ryan

Mairangi Bay

Updated: 7C Orbit Drive:
Features: vacant 752m² office & warehouse, 9m stud, high stud roller door to warehouse, over 300amp 3-phase power, 12 parking spaces
Outcome: passed in at $1.885 million, sold post-auction to an owner-occupier for that figure
Agents: Matt Prentice & Janet Marshall

North-west

Henderson, 301 Lincoln Rd:

Unit 14, Texas Chicken:
Features: standalone outlet at entrance to new retail & fast-food development, 15-year lease + 2 6-year terms, final expiry 2043
Rent: $165,000/year net + gst
Outcome: sold for $3.236 million at a 5.1% yield
Agents: Shoneet Chand, Matt Prentice & Sean Finnegan

Unit A5, Flame Pizza:
Features: 79.4m², 8-year lease + 2 4-year rights of renewal
Rent: $43,670/year net + gst
Outcome: sold for $837,000 at a 5.2% yield
Agents: Shoneet Chand, Peter Kermode & Craig Smith

Unit A7, Mark Anthony Hair Design:
Features: 75.2m², 6-year lease + 2 3-year rights of renewal
Rent: $39,480/year net + gst
Outcome: sold for $796,000 at a 4.96% yield
Agents: Shoneet Chand, Peter Kermode & Craig Smith

Unit B3, Yu Tea:
Features: 127m², 6-year lease + 2 4-year rights of renewal; the owners intend to open more stores around Auckland
Rent: $60,325/year net + gst
Outcome: sold for $1.126 million at a 5.36% yield
Agents: Shoneet Chand, Peter Kermode & Craig Smith

Unit B5, Mexicali:
Features: 160m², 8-year lease + 2 6-year rights of renewal
Rent: $96,000/year net + gst
Outcome: sold for $1.921 million at a 4.997% yield
Agents: Shoneet Chand, Peter Kermode & Craig Smith

South

Pakuranga

43 Ben Lomond Crescent:
Features: 4375m² site, 2395m² floor area, 6-year lease from August 2015, A grade seismic rating
Rent: $216,864/year net + gst
Outcome: no bid
Agents: Shoneet Chand & Dwayne Warby

Attribution: Auction.

Continue Reading

9 suburban units, cross-leases & development sites sell

5 units & a cross-leased bungalow were sold under the hammer and another 3 post-auction from the 16 intensive residential properties auctioned at Barfoot & Thompson’s city office last Wednesday & Thursday (the apartments session on Thursday morning is in a separate story).

They included 4 cross-leased units on Brixton Rd, Mt Eden (pictured), which were all sold separately. One of the properties sold post-auction was a development site in Pt England with 2 homes on separate titles.

Isthmus east

Greenlane

27 Puriri Avenue, unit 4:
Features: cross-lease, quarter share in 1027m², 2 bedrooms, carport
Outcome: passed in, sold post-auction
Agents: Vern Hines & Sara Knight

Onehunga

131 Grey St, unit 3:
Features: 2-bedroom unit, internal-access garage
Outcome: sold for $803,000
Agent: Kevin Liu

One Tree Hill

119 Paihia Rd:
Features: cross-lease, half share in 781m², 3 bedrooms, parking
Outcome: passed in
Agent: Kelly Zhang

Otahuhu

15 Monterey Avenue, unit 1:
Features: 67m², 2-bedroom unit, tandem parking
Income assessment: $440/week current, fixed until January
Outcome: no bid
Agent: Neno Radinovich

15 Monterey Avenue, unit 2:
Features: 67m² 2-bedroom unit with 25m² sleepout, deck, tandem parking
Income assessment: was rented for $650/week
Outcome: passed in
Agent: Neno Radinovich

Point England

59 & 61 Torino St:
Features: 2 3-bedroom homes on separate titles, 1813m² section
Outcome: passed in, sold post-auction
Agent: Sam Bowen

Isthmus west

Avondale

8 Plane St, unit 2:
Features: cross-lease, 1/17 share in 6762m², 4 bedrooms, 2 bathrooms, deck, double internal-access garage
Outcome: passed in, back on market at $889,000
Agent: Kevin He

Kingsland

65H Third Avenue:
Features: cross-lease, quarter share in 1131m², 3 bedrooms, deck, carport
Outcome: no bid, back on market at $979,000
Agents: Ross Goodall & Nanette Graham

Mt Albert

1 Beagle Avenue:
Features: cross-lease, half share in 809m², 3-bedroom bungalow, offstreet parking
Outcome: sold post-auction
Agents: Christine Wooding & Joanne Yu

Mt Eden

32 Brixton Rd (pictured):
4 cross-leased units offered separately – all having a 1/5 share in 809m², one bedroom, renovated, with fenced garden & parking space:
Unit 5: sold for $547,500
Unit 4: sold for $540,000
Unit 3: sold for $543,500
Unit 2: sold for $544,000
Agent: Robyn Preece

North-west

New Lynn

14 Ambrico Place, unit 23:
Features: 3-bedroom townhouse, deck, internal-access garage
Outgoings: body corp levy $2276/year
Outcome: passed in
Agents: Aden Xu & Annie Hao

3169 Great North Rd:
Features: cross-lease, half share in 1012m², 3-bedroom bungalow
Outcome: sold for $805,000
Agent: Anna Lechtchinski

South

Pakuranga

304 Pakuranga Rd, unit 1:
Features: cross-lease, half share in 1022m², 3 bedrooms, deck, rumpus, garage
Outcome: no bid, back on market at $699,000
Agents: Neil Dayal & Tanzi Rose

Attribution: Auctions.

Continue Reading

3 sales & 5 leases for Bayleys Shore agents

Bayleys on the Shore have recorded 2 local sales and one post-auction in Highland Park, along with 5 leases around Rosedale & Wairau Valley.

Sales:

North-east

Rosedale

36 William Pickering Drive, unit 7:
Features: 305m² unit – warehouse 137.5m², office 102m², yard 66m², 5 parking spaces
Outcome: sold vacant in August for $660,000 + gst, at $2761/m² land & building
Agents: Laurie Burt & Trevor Duffin

Wairau Valley

59-61 View Rd, unit 10:
Features: 229m² industrial unit occupied by GS Express Ltd, 4 parking spaces
Rent: $28,000
Outcome: sold in August for $605,000 + gst at 4.63% yield, $2642/m²
Agents: Ashton Geissler & James Kidd

South

Highland Park

20-22 Dunrobin Place, unit 7:
Features: 180m² retail unit, 8-year lease to Flow Academy of Motion from June 2014, has had seismic upgrade to A+, shared parking
Rent: $54,000/year net + gst
Outcome: passed in at $880,000 at auction on 10 August, sold for $900,000 + gst at a 6% yield
Agents: Eddie Zhong & Ranjan Unka

Leases:

North-east

Rosedale

225 Bush Rd, unit B:
Features: m²,
Rent: leased in August for $92,000/year net + gst, premises rental $152/m²
Agent: Laurie Burt

23 Canaveral Drive, unit B:
Features: 513m² unit – warehouse 300m², office 184.5m², other area 28.5m²
Rent: leased in August for $85,000/year net + gst, premises rental $175/m²
Agent: Matt Mimmack

65 Paul Matthews Rd, unit G1:
Features: 47.5m² office, parking space
Rent: leased in August for $18,500/year net + gst, premises rental $389.5/m²
Agents: Anna Radkevich & James Yu

Wairau Valley

49 Porana Rd, unit 2:
Features: 136m² warehouse, 2 parking spaces
Rent: leased in August for $22,100/year net + gst
Agents: Adam Watton & Adam Curtis

2 Target Court, unit B:
Features: 158m² office, 2 parking spaces
Rent: leased in August for $27,680/year net + gst, premises rental $175.90/m²
Agent: Anna Radkevich

Attribution: Agency release.

Continue Reading

Large century-old Parnell apartment among 5 sales

A large apartment in a grand old house built for the mayor in 1904 (pictured) was sold at Barfoot & Thompson’s auction today.

It was among 3 apartments, townhouses & cross-leases to sell at today’s auction. Another 2 apartments in Quay West & the Quadrant were sold at pre-action & an auction brought forward on Monday & Tuesday.

CBD

Albert St

Quay West, 8 Albert St, unit 2004:
Features: 132m², north-west corner, 2-bedroom apartment, 2 bathrooms, wraparound balcony, secure parking space
Outcome: sold for $1.36 million at auction brought forward to Monday
Agent: Belinda Illingworth

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 2007:
Features: 2-bedroom apartment, parking space
Income assessment: $2184/month including gst, guaranteed rent from hotel lease
Outcome: sold for $550,000 at pre-auction on Tuesday
Agents: Selina Zheng & Tommy Zhang

Isthmus east

Glendowie

18 Cranbrook Place, unit 1B:
Features: 96m², 3-bedroom townhouse, 2 bathrooms, carport, offstreet parking
Outgoings: body corp levy $1457/year
Outcome: no bid
Agent: Peter Hutson

One Tree Hill

21 Aliford Avenue, unit 21:
Features: cross-lease, one-12th share in 4196m², 3-bedroom unit, offstreet parking for 3 cars
Outcome: passed in at $580,000, back on market at $748,000
Agents: Annie Xu & Sean Zhang

Parnell

33 St Stephens Avenue, unit 1:
Features: cross-leased, 143/1000 share in 1488m², 120m² one-bedroom ground-floor apartment in house built in 1904 for the mayor, sunroom, courtyard, private gardens, parking
Outcome: sold for $1.225 million
Agent: Liz Derbyshire

Remuera

23 Waiatarua Rd, unit 3:
Features: 3 bedrooms, 2.5 bathrooms, study, deck, storage, internal-access double garage
Outgoings: body corp levy $60/month plus balance to pay insurance
Outcome: sold for $1.45 million
Agents: Nicholas Lyus & Julia Nah

Stonefields

67 College Rd, unit 2:
Features: cross-lease, half share in 760m², 3 bedrooms, 2 bathrooms, deck, lawn, internal-access single garage, offstreet parking
Outcome: sold for $1.065 million
Agents: Michael & Tatyana Ataman

South

Pakuranga

15 Pakuranga Rd:
Features: cross-lease, half share in 809m², 2 bedrooms, 2 bathrooms, parking for 5 cars
Outcome: passed in at $710,000
Agent: Sam Bowen

Attribution: Auctions.

Continue Reading

Approval process starts for Panmure-Pakuranga busway

Auckland Transport has lodged a notice of requirement application to designate the route for the proposed Panmure-Pakuranga busway & other transport improvements. The busway will be on dedicated lanes separated from other traffic.

The application will be open to submissions and go to a hearing. Auckland Transport said that, based on current funding & subject to approval, construction would start in 2021.

Other changes there include replacing the Panmure roundabout with an intersection with traffic lights, bus priority & more direct pedestrian crossings, Panmure-Pakuranga cycle & footpaths also separated from traffic, and a second Panmure Bridge for the busway, cycleway & footpaths.

Link: Auckland Transport, Panmure-Pakuranga

Attribution: Auckland Transport releases.

Continue Reading

9 sales & a lease in south-east

Bayleys agents in South Auckland have reported 9 sales through East Tamaki, Highland Park & Pakuranga, plus one lease. They include 2 on Stonedon Drive, East Tamaki (39-41 Stonedon Drive pictured).

South

Sales

East Tamaki

52 Cryers Rd & 51 Stonedon Drive:
Features: 11,225m2 business 5 site in 2 titles, access off both roads
Outcome: sold for $4.753 million at $421.80/m2
Agents: John Bolton, Roy Rudolph & Katie Wu

333 East Tamaki Rd, unit H:
Features: 540m2 industrial building – 350m2 warehouse, 94m2 office, 96m2 showroom; 5-year lease to Retailquip NZ from April 2016 plus one 5-year right of renewal
Rent: $65,000/year net + gst, 2-yearly rent reviews to CPI
Outcome: sold for $1 million at a 6.5% yield
Agents: Katie Wu & John Bolton

150 Harris Rd, unit D:
Features: 348m2 industrial building – 260m2 warehouse, 88m2 office
Outcome: sold vacant for $851,000
Agents: Katie Wu & John Bolton

10 Lorien Place:
Features: 1000m2 business 5 site, 503m2 industrial building – 483m2 warehouse with 2 roller doors, 20m2 office, 500m2 concrete yard
Outcome: sold vacant for $940,000
Agents: Mike Marinkovich & Anthony Barnao

2 Newark Place, East Tamaki.

2 Newark Place, East Tamaki.

2 Newark Place:
Features: 841m2 industrial building – 679m2 warehouse, 77m2 office, 84m2 showroom
Outcome: sold vacant for $1.3 million
Agents: Katie Wu & John Bolton

39-41 Stonedon Drive:
Features: 4012m2 business 5 site, 772m2 industrial building – 644m2 warehouse, 128m2 office
Outcome: sold vacant for $2.5 million at $623/m2
Agents: Katie Wu & John Bolton

Highland Park

20-22 Dunrobin Place, unit 6:
Features: 89m2 retail unit
Outcome: sold vacant for $530,000
Agents: Quinn Ngo & Sunil Bhana

Pakuranga

8 Canon Place:
Features: 3518m2 business 5 site, 1892m2 industrial building – 1364m2 warehouse, 206m2 office, 322m2 mezzanine
Outcome: sold vacant for $2.1 million
Agents: Katie Wu & John Bolton

11 Reeves Rd:
Features: 1012m2 business 4 site opposite The Warehouse tenancy in Pakuranga Plaza, 537m2 commercial building – 277m2 showroom, 260m2 office, 18 parking spaces
Outcome: sold with vacant possession for $1.601 million
Agents: Phil Haydock & Alan Haydock

Lease

East Tamaki

11 Reg Savory Place:
Features: 1868m2 industrial building, clearspan, high-stud 1625m2 warehouse, 243m2 office, leased to construction company
Rent: $240,000/year net + gst
Agents: John Bolton & Roy Rudolph

Attribution: Agency release.

Continue Reading

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.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux