Archive | CBD and fringe

Trinity apartment sells

One apartment was sold, another apartment & a townhouse passed in at Bayleys residential auctions around the region this week (on top of the apartment sold at the city branch on Wednesday – click link below).

Isthmus east

Parnell

Trinity, 429 Parnell Rd, unit 302:
Features: 106m², air-conditioned 2 bedrooms, 2 bathrooms, decks, 2 parking spaces
Outgoings: rates $3463/year including gst
Outcome: sold for $1.375 million
Agents: Gary & Vicki Wallace

North-east

Belmont

3 Bellcroft Place, unit 1:
Features: 4-bedroom townhouse, 2 bathrooms, decks, garage
Outcome: passed in, back on market at $1.295 million
Agents: Amelia-Jane Hoffmann & Ryan Steven

South

Howick

12 Selwyn Rd, unit 1G:
Features: 2 bedrooms, 2 bathrooms, patio, parking space
Outcome: sold for $683,000
Agent: Doug McLean

Earlier story:
23 March 2017: Hotel unit sells on low yield and Mission Bay church goes

Attribution: Company release.

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Avoka & Scene 3 apartments sell despite their problems

Both apartments auctioned at Ray White City Apartments today had issues, but both sold under the hammer, thought it took some coaxing.

First up, a unit in Scene 3 with a parking space was leasehold, which has affected both market interest & pricing for several years. The second apartment is in the Avoka building, just off Karangahape Rd, where the body corporate has begun a remediation project.

CBD

Quay Park

Scene 3, 30 Beach Rd, unit 1007:
Features: leasehold, 45m², one bedroom, parking space
Outgoings: rates $1405/year including gst; body corp levy $4056/year, ground rent $8759/year
Income assessment: $490-550/week
Outcome: sold for $130,000
Agent: James Mairs

Uptown

Avoka, 31 Day St, unit 3F:
Features: 49m², one bedroom, 2 balconies; the body corporate has begun a remediation project
Outgoings: rates $1075/year including gst; body corp levy $4430/year
Outcome: sold for $175,000
Agent: James Mairs

Attribution: Auction.

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Commercial property & 2 apartments sell as 8 units passed in

The one commercial property on Barfoot & Thompson’s city auction list this morning, an early learning centre, was sold under the hammer, followed by a slow journey as 8 apartments were passed in. Then, breaking the run at the end of the auction, the last 2 apartments sold (they’re listed below by location, not by auction list order), in the Cintra (pictured) off Symonds St and a unit in Zest.

Apartments

CBD

Commerce/Gore

Harbour Oaks, 16 Gore St, unit 33H:
Features: 2 bedrooms, secure parking space
Outgoings: body corp levy $5345/year
Outcome: passed in at $512,000
Agents: Wendy Feng & Jack Li

Learning Quarter

Crown on Cintra, 3 Whitaker Place, unit 16C:
Features: 39m² studio, study, balcony, parking space, leaky issues identified
Outgoings: body corp levy $4155/year
Outcome: sold for $222,000
Agents: Oscar Zhao & Leo Shin

Uptown

Q Central, 54 Liverpool St, unit 7B:
Features: leasehold, 64m² 2-bedroom penthouse, balcony
Outgoings: rates $1582/year including gst; body corp levy $3549/year, ground rent $7642/year
Income assessment: $450/week
Outcome: passed in at $115,000
Agents: Zoran Farac & Stephen Shin

Bianco off Queen, 8 White St, unit 9C:
Features: 54m², 2 bedrooms, balcony
Outgoings: body corp levy $6561/year
Income assessment: $600/week
Outcome: passed in at $480,000, back on the market at $538,000
Agents: Annie Xu & Sean Zhang

Victoria Quarter

88 Cook St, unit 7:
Features: 148m², 2 levels, 3 bedrooms, living area on each floor, 2 secure parking spaces
Outgoings: body corp levy $3003/year
Outcome: no bid
Agent: Sean Lee

Hobson Gardens, 205 Hobson St, unit 5H:
Features: 140m², 3 bedrooms, 2 bathrooms, study, parking space
Outgoings: body corp levy $6167/year excluding water
Outcome: no bid
Agents: Stephen Shin & Yasu Ka

Zest, 72 Nelson St, unit 1028:
Features: 48m², 2 bedrooms, 2 bathrooms, balcony, parking space
Outgoings: body corp levy $5774/year
Income assessment: $450/week
Outcome: sold for $450,000
Agents: Wendy Feng & Jack Li

Alpha, 17 Vogel Lane, unit 1102:
Features: 46m², one bedroom, balcony, parking space
Outgoings: rates $1457/year including gst; body corp levy $4460/year
Outcome: no bid, back on market at $569,000
Agents: Stephen Shin & Justin Choi

Kingsbridge, 72 Wellesley St, unit 30:
Features: 2 bedrooms, wraparound balconies, parking space
Outcome: passed in at $550,000
Agents: Rita Herceg & Alex Allan

Waterfront

Quay Regency, 148 Quay St, unit 7C:
Features: one bedroom
Outgoings: body corp levy $4154/year
Outcome: passed in at $405,000
Agents: Alex Allan & Rita Herceg

Commercial

Isthmus west

Pt Chevalier

90 Pt Chevalier Rd:
Features: 639m² corner site, 110m² building, early learning centre
Outcome: sold for $1.36 million
Agents: Duane Mullooly & Chris Peterson

Attribution: Auction.

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5 sell out of 13 intensive units auctioned at Barfoots

5 units sold out of 13 apartments, townhouses, suburban units & cross-leases auctioned at Barfoot & Thompson’s city office yesterday, and one cbd apartment was withdrawn. Among the sales was a 2-bedroom apartment overlooking Parnell Rd (pictured).

CBD

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 2207:
Features: 2-bedroom apartment, balcony, parking space
Outcome: withdrawn from auction
Agent: Dong Liu

Isthmus east

Epsom

218 Green Lane West, unit 37:
Features: 3-bedroom unit, 2 bathrooms, study, double garage
Outgoings: body corp levy $4250/year
Outcome: passed in at $900,000
Agents: George Fong & Laura McAuley

Newmarket

73C Carlton Gore Rd, unit 3:
Features: one-bedroom 1930s apartment, private courtyard
Outcome: passed in
Agents: Cheryl Burgess & Ian Griffiths

Kings Square, 26 Remuera Rd, unit 506:
Features: over 100m², 3-bedroom apartment, 2 bathrooms, double garage
Outgoings: body corp levy $3421/year
Outcome: no bid, back on market at $1.019 million
Agents: Cici & Miro Wang

9 Sarawia St, unit 408:
Features: one-bedroom apartment in former motel, offstreet parking
Outcome: sold for $432,500
Agents: Jill Jackson & Emma John

Parnell

387 Parnell Rd, unit 6:
Features: 2-bedroom apartment, tandem garage
Outgoings: rates $2183/year including gst; body corp levy $7232/year
Outcome: sold for $830,000
Agents: Silvia Poletti & Bobby McMillan

Remuera

11 & 13 Hapua St:
Features: 2 adjoining properties on combined 1602m², 4-bedroom duplex with double internal-access garage on 641m², 3 bathrooms, and vacant 961m² section with resource consent for 2 houses
Outcome: no bid
Agent: Cindy Yu

Isthmus west

Freemans Bay

47 Napier St:
Features: 119m², 3-bedroom terrace, 2 bathrooms, courtyard, internal-access garage
Outgoings: body corp levy $4834/year
Outcome: sold for $972,500
Agent: Ric Parore

116 Wellington St, unit 3:
Features: one-bedroom unit, private courtyard, storage, offstreet parking
Outgoings: body corp levy $2512/year
Outcome: sold for $665,000
Agent: André Boddé

Grey Lynn

7C Scanlan St:
Features: 136m², 2-level 2-bedroom apartment in warehouse conversion, storage, 2 parking spaces
Outgoings: body corp levy $1646/year
Outcome: no bid
Agent: David Dowse

Kingsland

52 Aitken Terrace, unit 1B:
Features: 2-bedroom apartment, deck, double basement garage
Outgoings: body corp levy $4900/year
Outcome: sold for $920,000
Agents: Susan Murdock & Sue Cohen

Mt Eden

68 Ellerton Rd:
Features: cross-lease, half share in 976m², 3-bedroom villa, attic, study, carport
Outcome: no bid
Agents: Derek Helliwell & Di Lynds

Mt Roskill

7 Jasper Avenue:
Features: cross-lease, half share in 837m², 3-bedroom bungalow, carport
Outcome: passed in at $935,000
Agents: Bella Stefano & Sherry Shao

Sandringham

99B Lambeth Rd:
Features: cross-lease, quarter share in 1214m², 3-bedroom house, deck, carport
Outcome: no bid
Agent: Mal MacElvanna

Attribution: Auctions.

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Hotel unit sells on low yield and Mission Bay church goes

A Portland Tower apartment on Queen St, in the Quest hotel pool, was sold by the mortgagee on a 4.2% yield at Bayleys’ auction today, and a Mission Bay church was also sold, future use unknown.

CBD

Queen St

Portland Tower, 62 Queen St, unit 14A:
Features: 31m², one-bedroom apartment on Quest hotel lease until 2030, balcony
Outgoings: rates $2440/year including gst
Income assessment: $12,000/year
Outcome: sold at ANZ Bank mortgagee auction for $286,500 at a 4.19% yield
Agents: Dave Hamlyn & Marcus Fava

Isthmus east

Mission Bay

69 Patteson Avenue:
Features: 1313m² section, Orakei Methodist church & hall, zone changing from residential 2B (one dwelling/600m²) to mixed housing suburban (minimum lot size 400m²)
Outcome: sold for $2.5 million at $1904/m² land
Agent: Alan Elliott

Isthmus west

Mt Albert

10 Counsel Terrace, unit 1:
Features: cross-lease, 1/3 share in 1050m², 3-bedroom townhouse, 2 bathrooms, conservatory, garage converted to fourth bedroom
Outcome: no bid
Agent: Angela Yang

Attribution: Auction.

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2 large units sell in Epsom & Mission Bay

An Epsom townhouse and the middle apartment (lit) of 3 in a block above Mission Bay’s beach were sold at Bayleys auctions this week.

Isthmus east

Epsom

9A Onslow Avenue:
Features: 2-bedroom townhouse, garage
Outcome: sold for $1.29 million
Agent: Lindy Lawton

Mission Bay

19 Selwyn Avenue, unit 2:
Features: cross-leased, 1/3 share in 1196m², 165m² including balconies, air-conditioned 3-bedroom apartment, 2 bathrooms, lift, study, 2 parking spaces
Outgoings: rates $5302/year including gst, maintenance fee $1800/year
Outcome: sold for $3.1 million
Agents: Gary & Vicki Wallace

Attribution: Agency release.

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7 apartments sell at Ray White auction

7 apartments were sold at Ray White City Apartments’ auction yesterday out of 9 on offer, including one of 2 leasehold units at The Docks and another Quay Park leasehold at The Landings.

On the North Shore, 2 units in the Spencer on Byron (pictured) and one in the nearby Shoalhaven were sold.

An unusual moment for the city apartment office was a plus-$1 million sale for a large unit in H47, although once the size (116m²) & 2 parking spaces are taken into account, the square metre rate would come down to $7300/m² internal.

CBD

Quay Park

The Docks, 8 Dockside Lane, unit 154:
Features: leasehold, 30m², one bedroom, patio
Outgoings: rates $708/year including gst; body corp levy $4581/year including $1760/year ground rent, next ground rent review November 2018
Income assessment: $350/week current
Outcome: sold for $112,000
Agent: Dominic Worthington

The Docks, 6 Dockside Lane, unit 520:
Features: leasehold, 60m², 2 bedrooms, parking space
Outgoings: rates $1671/year including gst; body corp levy $11,967/year including $4598/year ground rent, next ground rent review November 2018
Income assessment: $600/week current
Outcome: no bid
Agents: Dominic Worthington & Ady Huang

The Landings, 10 Ronayne St, unit 211:
Features: leasehold, 61m², 2 bedrooms, 2 bathrooms, secure covered parking space, storage locker
Outgoings: rates $1037/year including gst; body corp operational levy $2972/year, ground levy $2488/year
Income assessment: $450/week current until October
Outcome: sold for $135,000
Agents: James Mairs & Dominic Worthington

Victoria Quarter

H47, 47 Hobson St, unit 1107:
Features: 116m², 2 bedrooms, 2 bathrooms, balcony, 2 parking spaces, storage locker
Outgoings: rates $2596/year including gst; body corp levy $9235/year after 10% discount
Income assessment: $770/week current for apartment + one parking space fixed until 15 May, appraisal $850-900/week furnished
Outcome: sold for $1.007 million
Agents: May Ma & Mark Li

Zest, 72 Nelson St, unit 113:
Features: 37m², fully furnished 2 bedrooms,
Outgoings: rates $1126/year including gst; body corp levy $3477/year after 10% discount
Income assessment: $430-450/week
Outcome: sold for $326,000
Agent: Victor Liu

Isthmus west

Newton

2H Diamond St:
Features: 61m², fully furnished 2 bedrooms with new furniture package, 2 parking spaces
Outgoings: rates $1628/year including gst; body corp levy $1905/year
Income assessment: $600-650/week furnished
Outcome: passed in at $600,000
Agents: Ryan Bridgman & Mitch Agnew

North-east

Takapuna

Shoalhaven, 130 Anzac St, unit B207:
Features: 50m², 2 bedrooms, balcony, secure parking space
Outgoings: rates $1486/year including gst; body corp levy $3573/year
Income assessment: $550-580/week furnished
Outcome: sold for $560,000
Agents: Damian Piggin & Daniel Horrobin

Spencer on Byron, 9-17 Byron Avenue, unit 1810:
Features: 30m² studio, balcony, parking space
Outgoings: rates $1968/year including gst; body corp levy $2568/year
Outcome: sold for $275,000 + gst
Agents: Gillian Gibson & James Mairs

Spencer on Byron, 9-17 Byron Avenue, unit 1606:
Features: 48m², one bedroom, secure parking space, under hotel management
Outgoings: rates $2524/year including gst; body corp levy $3471/year
Outcome: sold for $351,000 + gst
Agents: Gillian Gibson & James Mairs

Attribution: Company release.

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3 apartments & 2 suburban units sell at Barfoots

3 apartments were sold at Barfoot & Thompson’s city auctions yesterday out of 8 on offer, and 2 of the 4 suburban units were sold. The sales included a unit in City Gardens (pictured), where owners have succeeded in leaky building litigation but the work hasn’t been done yet.

A commercial office unit in Mt Wellington didn’t attract a bid.

CBD

Albert St

City Gardens, 76 Albert St, unit 19K:
Features: 42m², one bedroom, parking space
Outgoings: body corp levy $581/year; estimated remediation levy $24,735 on top of payment from litigation claim
Outcome: sold for $306,000
Agents: Sarah Garlick & Estee Zeng

Learning Quarter

Eden Hall, 3 Eden Crescent, unit 6:
Features: 90m², 2 bedrooms, garage
Outgoings: body corp levy $6294/year
Outcome: sold for $960,000
Agents: Liz Derbyshire & Leo Shin

Uptown

Avoka, 31 Day St, unit 4C:
Features: 81m², fully furnished one bedroom, parking space
Outgoings: body corp levy $7370/year
Outcome: no bid
Agents: Selina Zheng & Tommy Zhang

Chatham, 70 Pitt St, unit 506:
Features: 67m², 2 bedrooms, storage locker, parking available
Outgoings: body corp levy $4837/year
Outcome: passed in
Agents: Luke Shi & Alexander Kramarenko

Bianco off Queen, 8 White St, unit 9C:
Features: 54m², 2 bedrooms, balcony
Income assessment: not in hotel management, rent assessment $600/week
Outcome: auction postponed until Thursday 23 March
Agents: Annie Xu & Sean Zhang

Victoria Quarter

Grand Chancellor, 1 Hobson St, unit 603:
Features: 57m², one bedroom, parking space, storage locker
Outgoings: body corp levy $4592/year
Outcome: sold for $633,000
Agent: Aaron Cook

Grand Chancellor, 1 Hobson St, unit 704:
Features: 56m², fully furnished 2 bedrooms, storage locker
Outgoings: body corp levy $4169/year
Outcome: no bid, back on market at $595,000
Agent: Aaron Cook

Hobson Gardens, 196 Hobson St, unit 11B:
Features: 100m² sub-penthouse, 2 bedrooms, 2 bathrooms, enclosed balcony, 2 parking spaces
Outgoings: body corp levy $10,070/year, special levy set for further remedial works
Outcome: no bid, back on market at $868,000
Agent: Michele Ballinger

Regatta Court, 92 Nelson St, units A & B:
Features: 2 units on ground floor, no bedrooms or bathrooms, leased to hotel management
Outgoings: body corp levy $1615/year
Income assessment: $20,224.80/year net + gst
Outcome: passed in, back on market at $425,000
Agents: Wendy Feng & Jack Li

Isthmus east

Mt Wellington

6 Faber Avenue, unit 1:
Features: cross-lease, half share in 1168m², 2-bedroom duplex, deck, double garage & carport
Outcome: no bid
Agents: Samantha Chaudhry & Leo Perera

Panmure

68 Ireland Rd, unit 2:
Features: 3-bedroom unit, parking space
Outgoings: body corp levy $1268/year
Outcome: sold for $582,500
Agents: Mark Tung & Michelle Mi

Isthmus west

Mt Albert

17 Owairaka Avenue, unit 3:
Features: cross-lease, 1/3 share in 766m², 2-bedroom unit, garage
Outcome: sold for $735,000
Agent: Les Walbridge

North-west

New Lynn

11B Akehurst Avenue:
Features: cross-lease, 1/3 share in 1011m², 2-bedroom unit, deck, carport
Outcome: no bid
Agent: Ricky Fan

Commercial

Isthmus east

Mt Wellington

161 Marua Rd, unit 2:
Features: 113m², first-floor office & showroom, kitchen, storage, 3 parking spaces
Outcome: no bid
Agents: Mike Jensen

Attribution: Auctions.

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George Court unit sells, then all quiet

City Sales’ apartments auction started well yesterday, with the sale of a unit in the George Court building on Karangahape Rd (pictured) at over $8800/m². Then things went quiet, 2 of the remaining 5 units on offer were passed in on the sole bid of the vendor and only a few bids were made on the remaining 3.

CBD

Queen St

Portland Tower, 62-64 Queen St, unit 6C:
Features: 41m², one bedroom, 6m² deck
Outgoings: rates $1139/year including gst; body corp levy $5720/year
Outcome: passed in at $490,000
Agents: Steve Kirk & Habeeb Urrahman

Uptown

George Courts, 238 Karangahape Rd, unit 3H:
Features: 68m², one bedroom, parking space
Outgoings: rates $1734/year including gst; body corp levy $5924/year
Outcome: sold for $601,000
Agents: Gabrielle Hoffmann & Nicola Hunt

City Zone, 11 Liverpool St, unit 17K (door 1701):
Features: 45m², 2 bedrooms, deck
Outgoings: rates $1177/year including gst; body corp levy $3331/year
Outcome: passed in at $370,000
Agents: Steve Kirk & Habeeb Urrahman

Victoria Quarter

Aura, 53 Cook St, unit 310:
Features: 49m², 2 bedrooms, deck
Outgoings: rates $1113/year including gst; body corp levy $3685/year
Outcome: passed in at $380,000
Agents: Steve Kirk & Habeeb Urrahman

Waterfront

Lighter Quay, 83 Halsey St, unit 407:
Features: leasehold, 49m², one bedroom, deck
Outgoings: rates $1722/year including gst; body corp levy $2293/year, ground rent $3619/year, residents’ society levy $2312/year
Outcome: passed in after sole bid from vendor at $150,000
Agents: Gabrielle Hoffmann

Isthmus east

Mt Wellington

Ellerslie Court, 3A Harrison Rd, unit 1:
Features: 42m², one bedroom, deck, parking space
Outgoings: rates $1080/year including gst; body corp levy $2977/year
Outcome: passed in after sole bid from vendor at $300,000
Agents: Chris Bell & Lucy Piatov

Attribution: Auction.

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New zones highlighted for residential sales

The potential of new zoning under Auckland’s unitary plan is becoming a strong point for residential land sales as auction prices for houses decline and far more properties are passed in this year than last.

That was the case with 2 properties sold at Bayleys auctions this week, and a third had the existing commercial use as an attraction.

In the city centre, a 2-bedroom Metropolis apartment was sold under the hammer.

Square metre calculations below are based on more intensive use, excluding the value of the existing house.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2014:
Features: 2-bedroom apartment, secure covered parking space
Outcome: sold for $577,500
Agent: Harry Cheng

Isthmus east

Royal Oak

20 Acorn St:
Features: 828m² flat section zoned apartments & terrace housing, 4 bedrooms, garage
Outcome: sold for $2.82 million at $3406/m² land
Agent: Dianne Burt

Isthmus west

Sandringham

470 Sandringham Rd (pictured):
Features: 675m² corner site zoned mixed housing urban, 5-bedrooms-plus, 2 bathrooms
Outcome: sold for $1.5 million at $2222/m² land
Agent: Summer Sun

South

Howick

110 Ridge Rd & 12 Nelson St:
Features: 1741m² corner road-frontage site on 2 titles, a house on each section, 11m height & 45% site coverage as of right, agent says existing commercial use of the past 20+ years means mixed commercial & housing a possibility
Outcome: sold for $2.6 million at $1493/m² land
Agent: Gary Robertson

Attribution: Agency release.

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