Archive | Colliers International

Both commercial properties sell at Colliers auction

Both warehouse properties auctioned at Colliers in Auckland today sold under the hammer, the first at East Tamaki at a yield just over 6%, and the second at Rosedale at 5.5%.

North-east

Rosedale

4A Rothwell Avenue:
Features: 974.9m² renovated unit in the North Harbour industrial estate – office 168.5m² on 2 levels, clearspan warehouse 806.4m², 6.4m stud height, roller doors at both ends, leased to international tenant Clariant
Rent: $120,640/year net + gst on lease with 2.5 years to run
Outcome: sold for $2.205 million at a 5.47% yield
Agents: Matt Prentice, Jimmy O’Brien & Shoneet Chand

South

East Tamaki

5 Greenmount Drive:
Features: 3995m² site, 2748m² office & warehouse – warehouse 2362m², office & amenities 298m² on 2 levels, mezzanine storage 87m², tenant Talvor Motorhomes Ltd on new 6-year lease, one 6-year right of renewal
Rent: $244,500/year net + gst + opex
Outcome: sold for $4.05 million at a 6.04% yield
Agents: Andrew Hooper, Dwayne Warby & Matt Prentice

Attribution: Auction documents.

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Developer settles for 5.26% yield on new shops but childcare centre owner holds out 60 points firmer

A longstanding Mt Eden childcare centre was passed in with the yield at 4.66% at Colliers’ auction today, but the developer of a new local retail centre (pictured) at Westgate settled for 60 basis points over that strong cap rate to achieve sales on 3 of the 4 units on offer.

The development company, Frontier Properties Ltd (Dean & Julie Whimp), got a 5.26% yield on the sale of a pizza outlet & a barber shop, and 5.27% on a bakery, but couldn’t attract interest below 5.56% for a dentist’s premises.

The yield on the barber shop was almost trimmed to 5.23%, but the $5000 raise turned out to be an error.

Isthmus west

Mt Eden

158 Balmoral Rd:
Features: 607m² site, bungalow occupied by childcare licensed for 27 children,
Rent: $71,604/year net + gst, 10-year lease term from May 2015, 2 5-year rights of renewal, rental rate $51/child/week
Outcome: passed in at $1.535 million, representing a 4.66% yield
Agents: Shoneet Chand & Peter Kermode

North-west

Westgate

575 Don Buck Rd, 4 retail premises in new development
Agents on all 4: Shoneet Chand, Euan Stratton & Deborah Dowling

Unit 2, Sal’s Pizza:
Features: 73.5m², 7-year lease, 2 7-year rights of renewal
Rent: $40,480/year net + gst
Outcome: sold for $770,000 at a 5.26% yield

Unit 3, Don Buck Bakery:
Features: 73.5m², 8-year lease, 2 4-year rights of renewal
Rent: $40,480/year net + gst
Outcome: sold for $768,500 at a 5.27% yield

Unit 4, Nexus Barber:
Features: 73.5m², 6-year lease, 2 4-year rights of renewal
Rent: $39,744/year net + gst
Outcome: sold for $755,000 at a 5.26% yield

Unit 5, Massey Smiles:
Features: 105.5m², 10-year lease, 2-5-year rights of renewal
Rent: $55,620/year net + gst
Outcome: passed in at $1 million, representing a 5.56% yield

Attribution: Auction.

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3 suburban commercials sell but Vic Park Market premises all passed in

2 light industrial properties and an Ellerslie office building were sold at yields ranging from 5% (Airport Oaks) up to 6.9% (Ellerslie) at Colliers’ auction today.

They were followed by the Victoria Park Market (pictured above) management office, which was sold, and 4 restaurant & hospitality premises at the market, none of which received a bid (apart from one vendor bid on the first restaurant).

The market properties were all taken to auction by Drake City Ltd (Shahin Behrooz Kermani).

CBD

Victoria Quarter – 5 premises in the Victoria Park Market

Management office:
Features: 40.25m²
Rent: $15,750 + gst, reviews 2 years to cpi + 2% or market, whichever is higher
Outcome: sold for $292,500 at a 5.4% yield
Agents: Gareth Fraser & Simon Felton

Indian Village, units 4A, 5A, 6 & 7, Drake St:
Features: 207m², original 10-year lease runs until 28 February 2023, 2 5-year rights of renewal
Rent: $134,745/year net + gst, reviews on market soft ratchet
Outcome: no bid
Agents: Gareth Fraser, Simon Felton & Tony Allsop

The White Rabbit, unit 73, Drake St:
Features: 490m², rooftop deck, original 10-year lease runs until 30 April 2022, 2 5-year rights of renewal
Rent: $212,341/year net + gst, reviews to market
Outcome: no bid
Agents: Gareth Fraser, Adam White & Tony Allsop

The Oakroom, unit 74, Drake St:
Features: 224m², original 12-year lease runs until 31 October 2023, 6-year right of renewal
Rent: $100,794/year net + gst, reviews on market soft ratchet
Outcome: no bid
Agents: Gareth Fraser, Adam White & Simon Felton

Hansik Restaurant, unit 75, Drake St:
Features: 303m², original 5-year lease runs until end of 2019, 2 5-year rights of renewal
Rent: $100,000/year net + gst, reviews structured
Outcome: passed in after vendor bid at $1 million
Agents: Gareth Fraser, Tony Allsop & Adam White

Isthmus east

2 Kalmia St, Ellerslie.

Ellerslie

2 Kalmia St:
Features: 2032m² mixed-use site, net lettable area 1477m² in 4-level air-conditioned building, multiple tenants, dual road access, 45 parking spaces
Rent: $373,992.13/year net + gst
Outcome: sold for $5.4 million at a 6.9% yield
Agents: Gareth Fraser, Simon Child & Greg Goldfinch

South

Airport Oaks

46 Andrew Baxter Drive:
Features: 2940m² light industrial site, tenant Aquafit NZ Ltd, net lettable area 1816m² – offices & amenities 253m² at $200/m², warehouse 1031m² at $112/m², canopy 532m² at $60/m²
Rent: $197,992/year net + gst, new 5-year lease, 12-month bank bond
Outcome: sold for $3.9 million at a 5.08% yield
Agents: Brad Johnston & Paul Jarvie

East Tamaki

9 Bostock Place:
Features: 7099m² site, 3526m² floor area, longstanding tenant, potential to split building, large yard, dual road access
Rent: $392,532/year net + gst, 6-year lease
Outcome: withdrawn from auction
Agents: Paul Higgins & Greg Goldfinch

90 Lady Ruby Drive:
Features: 849m² light industrial site, gross lettable area 724m² – office 180m² at $210/m², workshop 38m² at $125/m², mezzanine above workshop 38m² at $60/m², warehouse 505m² at $125/m², canopy 31m² at $55/m², 100% seismic rating, tenant Tex Onsite Ltd
Rent: $109,802/year net + gst, new 5-year lease
Outcome: sold for $1.93 million at a 5.7% yield
Agents: Paul Jarvie & Jolyon Thomson

Attribution: Auction.

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2 sales & 2 leases on Shore

Colliers agents on the Shore have sold & separately leased an office unit in the North Harbour estate at Rosedale.

The agency sold a Porana Rd unit at auction last week and an office on Anzac St, Takapuna, has been leased.

North-east

Sales

Rosedale

65 Paul Matthews Rd, unit 4a:
Features: 72m² office, parking space
Outcome: sold vacant in January for $305,000 + gst
Agents: Janet Marshall & Nick Recordon

Wairau Valley

39-45 Porana Rd, unit 1:
Features: 308m² unit, ground-floor storage, upstairs offices, 4 parking spaces
Outcome: sold vacant for $660,000 at auction 1 March
Agents: Euan Stratton & Matt Prentice

Leases

Rosedale

65 Paul Matthews Rd, unit 4a:
Features: 72m² office, parking space
Rent: leased in February for $18,780/year net + gst, parking $15/space/week, net excluding parking $18,000, premises rental $250/m²
Agents: Janet Marshall & Nick Recordon

Takapuna

17 Anzac St, level 2:
Features: 172m² office, 3 parking spaces
Rent: $50,980/year net + gst, parking at $35/space/week, net excluding parking $45,520, premises rental $265/m²
Agents: Nick Recordon & Janet Marshall

Attribution: Agent release.

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Colliers to manage WestCity for new Adelaide owners

The Adelaide-based Angaet Property Group, which bought the WestCity mall at Henderson from the Scentre Group at a steep discount to target price at the end of last year, has appointed Colliers to manage the centre.

Angaet is owned by the DiMauro family, headed by Nick DiMauro & his son Michael, who have built up a portfolio of 25 shopping centres around Australia.

Angaet paid $A147 million for WestCity, over 20% short of the $A175 million price tag quoted by the Australian Financial Review when the property went back on the market last September. However, that price is just short of the book value ($NZ161.5 million/$A150.6 million) ascribed to WestCity in Scentre’s annual report out yesterday. The Scentre report put WestCity’s cap rate at 8.38%.

WestCity has a net lettable area of 36,108m² on a 5ha site, is anchored by Countdown, Farmers, The Warehouse & Event Cinemas, and has 130 specialty stores & 1492 parking spaces.

The sale was reported in Australia on 1 December, when it was subject to Overseas Investment Office approval, but Scentre said nothing about it until it was mentioned in passing in the group’s annual results release yesterday.

Colliers quoted Nick DiMauro yesterday: “I believe WestCity is a vibrant shopping centre, and the many infrastructure projects around the Henderson area in the near future will enhance the centre’s prominent position.

“We look forward to working with Colliers International to provide the best possible shopping experience for the residents of Henderson & its surrounding communities.”

Colliers will take over management of the centre from settlement.

6 of the 40 malls on Scentre’s books last year were in New Zealand, and WestCity was the last still wholly owned by the company after it sold 49% of 5 of them – Albany, Manukau, Newmarket, Riccarton & St Lukes – to Singapore’s sovereign wealth fund, GIC, at the end of 2014.

Scentre put WestCity & the other 3 New Zealand centres on the market in 2015 and sold 3 at the end of that year – Glenfield to Ladstone Holdings Ltd, Queensgate in Lower Hutt & Chartwell in Hamilton to the Diversified fund managed by Stride Property Ltd – for a combined $549 million.

Attribution: Company & agency releases.

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13 sales around North Island

13 sales & 2 leases around the North Island have been reported by Colliers.

Sales

Isthmus east

Newmarket

7 Edgerley Ave:
Features: 716m² site, 464m² commercial building
Outcome: sold for $3.45 million, representing $4818/m² land & building
Agents: Jonathan Lynch & Simon Child

Otahuhu

132 Portage Rd:
Features: 4960m² site, 2324m² office & warehouse
Outcome: sold for $4.5 million at a 6.5% yield
Agents: Hamish West, Ben Herlihy, Andrew Hooper & Matt Prentice

Penrose

60 Hugo Johnston Drive:
Features: 4175m² industrial property, 1117m² 2-level office building & 1087m² standalone warehouse
Outcome: sold for $5.45 million at a 6.72% yield
Agents: Paul Jarvie, Brad Johnston & Greg Goldfinch

Isthmus west

Mt Eden

108 Mt Eden Rd:
Features: 1070m² site, 700m² 2-level office building
Outcome: sold for $4.55 million, representing $4252/m² land & building
Agent: Jonathan Lynch

North-east

Rosedale

63 Apollo Drive, unit B1:
Features: 444m² commercial uni,
Outcome: sold vacant for $1.85 million
Agents: Nick Recordon & Janet Marshall

North-west

Kumeu

202-220 Main Rd:
Features: 4153m² site, 1740m² office & warehouse
Outcome: sold for $2.2 million, representing $530/m² land & building
Agents: Jonathan Lynch & Craig Smith

South

East Tamaki

27 Zelanian Drive:
Features: 5863m² vacant office & warehouse
Outcome: sold for $8.475 million
Agents: Andrew Hooper, Greg Goldfinch, Paul Higgins & Brad Johnston

South of the Bombays

Bay of Plenty

Mt Maunganui

24 Pacific Avenue:
Features: 675m² site, 440m² retail building,
Outcome: sold for $3.075 million at a 4.3% yield
Agents: Simon Clark, Rob Schoeser & Hadley Brown

Rotorua

422-430 Ngongotaha Rd:
Features: 2.66ha industrial development site, 1056m² warehouse,
Outcome: sold vacant for $2.4 million
Agent: Mark Rendell

Manawatu

Palmerston North

360 Albert St:
Features: 382m² site, 220m² retail building,
Outcome: sold for $800,000 at a 5.5% yield
Agents: Phil Nevill, Grant Lloyd & Doug Russell

314-322 Rangitikei St:
Features: vacant 1616m² property,
Outcome: sold for $1 million
Agents: Grant Lloyd, Phil Nevill & Doug Russell

Waikato

Hamilton

69 Vickery St, unit 9:
Features: 681m² industrial/retail unit,
Outcome: sold for $1.416 million at a 5.68% yield
Agent: John Hagar

Wellington

Lower Hutt

71 Port Rd:
Features: 4049m² site, 2411m² office & warehouse
Outcome: sold for $2.83 million
Agents: Tim Julian & Kieran Lennon

Leases

Isthmus east

Mt Wellington

103 Carbine Rd:
Features: 1664m² commercial premises leased to ECL Group Fuel Systems Ltd for a 6-year term on behalf of Windward Properties Ltd
Agents: Hamish West, Paul Higgins & Andrew Hooper

South of the Bombays – Wellington

Lower Hutt

109 Port Rd:
Features: 4852m² commercial premises leased to Linfox Logistics NZ Ltd for a 6-year term on behalf of Seaview Commercial Investments Ltd
Agent: Kieran Lennon

Attribution: Agency release.

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One property sells in truncated Colliers auction

Just one property sold at Colliers’ commercial auction on Wednesday, a Birkdale site on the North Shore with consent for a childcare centre.

2 other properties occupied by childcare centres, in Otahuhu & Albany, were passed in. A commercial showroom in East Tamaki and a real estate agency auctionroom & office in the Royal Oak Mall were also passed in.

The auction was reduced by the withdrawal of 4 food outlets, 3 at the new 301 Lincoln Rd development in Henderson and one at the also new development at 651 Whangaparaoa Rd, on the Whangaparaoa Peninsula.

Isthmus east

Otahuhu

18 Princes St:
Features: 1090m² site, 348m² floor area, established childcare centre purpose-built in 2011, occupied by Blossoms Educare on new 15-year lease, 3 10-year rights of renewal
Rent: $163,800/year net + gst at $44/child/week
Outcome: passed in at $2.8 million
Agents: Shoneet Chand & Peter Kermode

Royal Oak

Royal Oak Mall, 691 Manukau Rd, unit 58:
Features: 342m² office unit with Ray White auctionroom, seismic rating of 71% of new building standard, new 6-year lease, parking at mall & Pak ‘n Save
Rent: $80,000/year net + gst
Outcome: no bid
Agents: Gareth Fraser, Jonathan Lynch & Greg Goldfinch

North-east

Albany

287 Oteha Valley Rd:
Features: 1138m² site, 460m² lettable area, Magicland Ltd childcare centre on 15-year lease from completion of development in July by Wallace Development Co Ltd, one 10-year right of renewal, beside new retail development
Rent: $203,840/year net + gst
Outcome: no bid
Agents: Mike Ryan, Ellie Martin & Euan Stratton

Birkdale

126 Birkdale Rd:
Features: 916m² site, consented for childcare centre for 45 children
Outcome: sold for $1.1 million
Agents: Peter Kermode & Shoneet Chand

Whangaparaoa

651 Whangaparaoa Rd:
Features: vacant 127m² unit, 35m² outdoor
Outcome: withdrawn from auction
Agents: Deborah Dowling, Euan Stratton & Jessica Martin

North-west

Henderson

301 Lincoln Rd, unit A1, Aroma Thai restaurant:
Features: 159.4m², in new development, 8-year lease, 2 4-year rights of renewal
Rent: $76,512/year net + gst
Outcome: withdrawn from auction
Agents: Shoneet Chand, Craig Smith & Peter Kermode

301 Lincoln Rd, unit A4, Aroma Indian restaurant:
Features: 155m², in new development, 8-year lease, 2 4-year rights of renewal
Rent: $74,400/year net + gst
Outcome: withdrawn from auction
Agents: Shoneet Chand, Craig Smith & Peter Kermode

301 Lincoln Rd, units B1 & B2, Denny’s Restaurant:
Features: 421m², 6-year lease, 2 6-year rights of renewal
Rent: $141,035/year net + gst
Outcome: withdrawn from auction
Agents: Shoneet Chand, Craig Smith & Peter Kermode

South

East Tamaki

24A Harris Rd:
Features: 595m² floor area, Tile Space on 8-year lease, 2 4-year rights of renewal
Rent: $110,940/year net + gst
Outcome: passed in at $1.55 million
Agents: Jolyon Thomson & Paul Higgins

Earlier stories:
23 November 2016: Updated: Low yields maintained at 301 Lincoln Rd auction, all 3 now sold
30 November 2016: Yields 5.5% & lower on new Whangaparaoa centre’s units

Attribution: Auction.

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Onehunga & Penrose properties sell, but not New Lynn

2 of the 3 commercial properties auctioned at Colliers yesterday were sold under the hammer.

The other (pictured) – a rear site in the changing environment of downtown New Lynn, where 18-storey buildings are allowed – was passed in well short of the vendor’s hopes. It’s outlined in blue in the front left corner of the photo.

Isthmus east

Onehunga

37 Church St:
Features: 557m² site, 469m² net lettable area – warehouse 308m², office on 2 levels + amenities 128m², canopy 33m², mixed-use zone
Outcome: sold vacant for $1.21 million
Agents: Ben Cockram & Ben Herlihy

Penrose

49 Felix St:
Features: 759m² site, 522m² net lettable area – 388m² warehouse, 134m² office & amenities, offstreet parking, 250m² of sealed front yard
Rent: holding income of $5000/month + gst + opex to end of February
Outcome: sold for $1.36 million
Agents: Ben Cockram & Todd Kuzmich

North-West

New Lynn

3105 Great North Rd:
Features: 688m² site, 226m² building, zoned metropolitan centre, which allows up to 18 levels
Rent: holding income
Outcome: passed in at $310,000, back on market at $550,000
Agents: Deborah Dowling & Michael Bray

Attribution: Auction.

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Propbd on Q W7Dec16 – Auction results from Colliers, Bayleys & Barfoots

2 sell at Colliers
2 commercial units & apartment sell at Bayleys
57% intensives clearance at Barfoots

2 sell at Colliers

2 of the 3 commercial properties auctioned at Colliers today were sold under the hammer. Results:

Penrose, 49 Felix St, sold for $1.36 million, agents Ben Cockram & Todd Kuzmich
Onehunga, 37 Church St, sold for $1.21 million, Ben Cockram & Ben Herlihy
New Lynn, 3105 Great North Rd, passed in at $310,000, Deborah Dowling & Michael Bray

2 commercial units & apartment sell at Bayleys

2 separate commercial units in the Rosedale business precinct at Albany and the one city apartment auctioned at Bayleys today were sold under the hammer. Results:

Rosedale, 9 John Glenn Avenue, unit 2, sold for $1.81 million, Laurie Burt & Ashton Geissler
CBD, Learning Quarter, 96 on Symonds, 96 Symonds St, unit 1501, sold for $351,000, Marcus Fava
Rosedale, Interplex, 10 Canaveral Drive, unit A, sold for $1.25 million, Matt Mimmack & Alex Strever

57% intensives clearance at Barfoots

Barfoot & Thompson ran 2 residential auctions in 2 rooms at its city office today – 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. From an intensive list of 30 properties (the list below), that’s a clearance rate of 57%. Results from the intensive offering:

Meadowbank, 25A Fancourt St, cross-lease, no bid, agent Neno Radinovich
Waterview, 6A Alverston St, cross-lease, sold for $1.216 million, Stephen Shin & Barry He
Quay Park, Quba, 2 Tapora St, unit 425, leasehold, no bid, Jill Jackson & Emma John
Onehunga, 93J Mays Rd, sold for $573,000, Sue Ma & Hattie Huo
Mission Bay, 47 Tamaki Drive, unit 4, passed in, Amanda Zhou & Yuyu Cao
Ellerslie, 126 Marua Rd, unit 4, cross-lease, sold for $650,000, Steve Hood
St Johns, 2 Strong St, unit 3, cross-lease, sold for $626,000, Helen McVicar
Glendowie, 321 Riddell Rd, cross-lease, passed in, Grant & Moira Marshall
Remuera, 10A Muir Rd, cross-lease, sold for $1.02 million, Julie Fitzpatrick & Kathy Bower
St Heliers, 41 Sylvia Rd, unit 2, cross-lease, no bid, Kelly Midwood
St Heliers, 17 Ashwell St, units 1, 2 & 3, cross-lease, sold for $2.36 million, Thomas & Helen Weber
Mt Eden, 45 Edenvale Crescent, sold for $1.545 million, Kathy Bower
Remuera, 1 Mainston Rd, cross-lease, no bid, Steve Hood
Epsom, 11 Woodhall Rd, unit 2, cross-lease, sold for $1.205 million, Dee Brennan
Pakuranga, 1 Greenhill Crescent, unit 1, cross-lease, sold for $934,000, Dong & Lucca Liu
Mt Roskill, 1193A Dominion Rd, cross-lease, passed in, Kelly Zhang
Epsom, 10 Penrhyn Rd, cross-lease, sold for $1.975 million, Diana Buczkowski & Peter West
Greenlane, 24 & 26 Garland Rd, 2 homes on 1705m², passed in, John Zhang & Louissa Bao
Mt Roskill, 78 Haycock Avenue, unit 2, cross-lease, sold for $655,000, William & Simon MacLean
Epsom, 22 Pah Rd, unit 5, cross-lease, sold for $805,000, Dee Brennan
Greenlane, 11 Tawera Rd, unit 9, cross-lease, no bid, Danny Upton & James Yu
Epsom, 38 Epsom Avenue, unit 2B, no bid, Ricky Yap
Henderson, 15 Universal Drive, 2 homes on 1158m², no bid, George Fong & Maggie Xue
Learning Quarter, Oxford, 13 Mount St, unit 5K & parking unit 1Q, no bid, Duncan Wu
Mt Roskill, 61A Boyce Avenue, unit 2, cross-lease, no bid, David Chen & Joey Zhuang
Kingsland, 4F Don Croot St, unit, sold for $627,000, Matt O’Brien & Anah Jordan
Pt Chevalier, 5 Kanuka St, cross-lease, passed in, Andrew Gallagher & Matt O’Rourke
Mt Roskill, 639 & 2/641 Richardson Rd (listed as Avenue), one section fee simple and the other on cross-lease, no bid, Sunny Yang
Mt Wellington, 24 Bailey Rd, unit 1, cross-lease, sold for $550,000, Karin de Leeuw
Remuera, 34B Monteith Crescent, unit C, no bid, Lily Zhang & Jacquie Jia

Attribution: Auctions.

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Propbd on Q Th1Dec16 – auction results galore – apartments, cross-leases, Total Property

I have a large volume of auction results in various stages of processing, so you can check whether they’ve sold while I continue with the full details for each one.

Ray White City Apartments Thursday:

Tetra House, 85 Wakefield St, unit 606, sold for $365,000
One on Ophir, 1 Ophir St, unit 1A, sold for $583,900
Waterloo Towers, 20 Waterloo Quadrant, unit 8, sold for $650,000
Queens Residence, 8 Airedale St, unit 1507, no bid
Ellerslie Court, 3A Harrison Rd, unit 6, no bid
Aura, 53 Cook St, unit 1315, passed in at $410,000
Pulse, 80 Richmond Rd, unit 3S, passed in with vendor indicator bid of $400,000
Wiltshire, 89 Victoria St West, unit 2C, no bid

Barfoot & Thompson Thursday afternoon residential (apartments, townhouses & cross-leases only):

Mt Albert, 41 Owairaka Avenue, unit 3, cross-leased unit, sold for $695,000
Onehunga, 12A Wallath Rd, cross-lease, sold for $740,000
Onehunga, 40 Spring St, unit 1, no bid
Onehunga, 93Q Mays Rd, terrace, no bid
Meadowbank, 146 St Johns Rd, unit 8, no bid
Greenlane, 15 Matai Rd, unit 1, cross-leased unit, passed in
Royal Oak, 16 Boyd Avenue, unit 2, cross-leased unit, no bid
18 Wakefield St, unit 3H, apartment, sold for $700,000
Greenlane, 3A Nolan Rd, cross-lease, passed in
Blockhouse Bay, 158 & 160 Boundary Rd, 2 units, withdrawn from auction
Howick, 57B Cook St, cross-lease, sold for $965,000

Barfoot & Thompson Thursday apartments & commercial:

Grey Lynn, 376 Great North Rd, commercial building, sold for $3.85 million
Metropolis, 1 Courthouse Lane, unit 2302, passed in at $430,000
Darlinghurst, 50 Eden Crescent, unit 1C, passed in at $405,000
Newmarket, 8 Clayton St, unit 23, sold for $450,000
Harvard, 147 Hobson St, unit 10P, sold for $486,000

Barfoots Wednesday afternoon residential (apartments, townhouses & cross-leases only):

Three Kings, 26A Princes Avenue, cross-lease, sold for $1.01 million
Epsom, 9 Karetu Rd, cross-lease, sold for $2.2 million
Freemans Bay, 11 Sheridan Lane, cross-leased unit, sold for $1.44 million
Remuera, 3G Laxon Terrace, unit, passed in
Mt Eden, 72 Prospect Terrace, unit 2, cross-leased townhouse, no bid
Mt Eden, 39A View Rd, cross-lease, sold for $1.355 million
Grey Lynn, 61 Wellpark Avenue, cross-lease, no bid
Epsom, 593 Manukau Rd, unit 2, cross-leased unit, passed in
Greenlane, 170 Green Lane West, unit 6, in body corporate, passed in
Avondale, 1, 1A & 3 Glendon Avenue, 3 houses on separate titles, total 2276m², no bid
Remuera, 90 Remuera Rd, unit 15, cross-leased apartment, no bid
Epsom, 53 Disraeli St, unit 1, cross-lease, sold for $1.255 million
Western Springs, 27 Bannerman Rd, cross-lease, no bid
Avondale, 6 Methuen Rd, cross-lease, sold for $992,000
Sandringham, 94 St Lukes Rd, unit 3, cross-lease, no bid
Avondale, 32 Powell St, house in body corporate, sold for $805,000
Onehunga, 8 Inkerman St, unit 9, cross-leased unit, passed in
Sunnyvale, 123 Millbrook Rd, unit 1, cross-lease, no bid

Barfoots Wednesday morning residential (apartments, townhouses & cross-leases only):

Glendowie, 32 Roberta Avenue, unit 4, cross-leased unit, sold for $1.35 million
Glendowie, 36 Wendover Rd, cross-lease, sold for $1.32 million
Kohimarama, 38 Whytehead Crescent, unit 1, cross-leased unit, no bid
St Heliers, 42 Sylvia Rd, cross-lease, passed in

Bayleys Wednesday residential:

148 Quay St, unit 11C, apartment, passed in (vendor bid at $1.2 million)
Herne Bay, 2 Herne Bay Rd, unit 4, cross-leased unit, sold for $800,000
St Heliers, 24 Auckland Rd, unit 4, cross-lease, passed in at $950,000
Te Atatu South, 132 Edmonton Rd, unit 3, cross-lease, passed in at $650,000
Bianco off Queen, 8 White St, unit 6A, apartment, sold for $650,000
Metropolis, 1 Courthouse Lane, unit 2312, apartment, passed in at $775,000
Henderson, 16 Frank Evans Place, unit 1, cross-leased townhouse, no bid
Pt Chevalier, 209A Pt Chevalier Rd, cross-leased unit, sold for $764,000

Bayleys Wednesday Total Property commercial:

205 Federal St, unit R1, passed in at $475,000
23 Whitaker Place, units 110 & 111, sold for $150,000
Mid-City, 239 Queen St, unit 2A, no bid
105 Symonds St, shop 5, Nata Portuguese Bakery, passed in at $500,000
105 Symonds St, shop 9, laundromat, passed in at $350,000
105 Symonds St, shop 11, The Corner Café, passed in at $500,000
103-105 Symonds St, unit 15, Anytime Fitness, withdrawn from auction
Onehunga, 106 Beachcroft Avenue, sold vacant for $1.505 million
Onehunga, 255 Onehunga Mall, sold for $2.21 million
Otahuhu, 121 Church St, declared reserve of $800,000, sold prior for $933,000
Panmure, 141-157 Queens Rd, no bid, Mark Pittaway
Penrose, 419B Church St East, passed in after vendor bid at $3.7 million
Morningside, 4 Taylors Rd, sold vacant for $2.9 million
Pt Chevalier, 1191 Great North Rd, sold for $155 million
Birkenhead, 268 Onewa Rd, unit 10A, withdrawn from auction
Torbay, 934 Beach Rd, sold for $1.8 million

Warkworth, stage 3 of the Grange, 67 Auckland Rd:
Unit 5A, Cizzlin, sold for $1.005 million at a 6.47% yield
Unit 13B, The Grange Bakery, sold for $560,000 at a 5.34% yield
Unit 11, Fish Nets, sold for $565,000 at a 5.48% yield
Unit 14, Green Bay Fruit & Veg, passed in after vendor bid at $1.25 million
Unit 22, Cross Gate Variety Store, withdrawn from auction

Henderson, 349 Great North Rd, sold for $1.045 million
Henderson, Lincoln North shopping centre, 192 Lincoln Rd, unit B4, sold for $465,000
East Tamaki, 12 Amera Place, unit 5, passed in at $900,000
East Tamaki, 9-11 Nandina Avenue, sold for $2.86 million
Howick, 8-14 Moore St, passed in at $2.11 million
Manukau, 792 Great South Rd, unit 6, passed in at $750,000
Papatoetoe, 52-58A St George St, no bid
Pukekohe, 1722 & 1748 Buckland Rd, no bid
Napier, 359 Marine Parade, sold for $3.75 million
Whitianga, 17 Monk St, sold for $1.03 million

City Sales Wednesday:

Eden Apartments, 32 Eden Crescent, unit 10D, sold prior
96 on Symonds, 96 Symonds St, unit 101, passed in at $321,000
Connaught, 14 Waterloo Quadrant, unit 4K, sold for $340,500
CityZone, 11 Liverpool St, unit 1107, passed in at $340,000
Grey Lynn, 33 Mackelvie St, unit 1C, passed in at $410,000

Colliers Wednesday:

Takanini, 9 Walters Rd, sold vacant for $1.2 million

Attribution: Auctions.

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