Archive | CBD and fringe

Slow, but a 61% success rate at auctions

Image above: The Oxford on Mount St – one apartment sold, one passed in.

It took auctioneer Murray Smith 30 minutes & much twiddling of his thumbs this morning before he banged his hammer down for the sale of one apartment. Next up, there were 3 bidders and a sale ensued in a few minutes.

In 5 sessions this week, auctioneers at Barfoot & Thompson’s city office put through 41 residential properties, 16 of them which I categorise as intensive (apartments, townhouses, suburban units – I wasn’t at all sessions and don’t know if any others were cross-leased).

A year ago, that would have been the throughput on a Wednesday or Thursday morning, so volume is well down.

But the sales ratio under the hammer this week was strong – 25 sold out of 41 homes offered, a 61% success rate. For the intensives, 9 sold out of 16 offered, a 56% success rate.

CBD

Albert St

Quay West, 8 Albert St, unit 1202:
Features: 74m², one-bedroom apartment, balcony, parking space
Outcome: sold for $695,000
Agents: Cici & Miro Wang

Commerce/Gore

HarbourCity, 16 Gore St, unit 28I:
Features: 38m², one-bedroom apartment
Outgoings: body corp levy $2851/year, $5099 special levy for leaks remediation
Outcome: sold for $279,000
Agent: Jason Buckwell

Federal St

207 Federal St, unit 506:
Features: 61m², 2-bedroom apartment, balcony
Outcome: sold for $536,000 at auction brought forward
Agents: Cici & Miro Wang

Learning Quarter

Celestion, 19 Anzac Avenue, unit 1002:
Features: 55m² apartment including balcony, 2 bedrooms
Outgoings: body corp levy $4536/year
Outcome: sold for $535,000
Agents: Zoran Farac & Leo Shin

Oxford, 13-15 Mount St, unit 4H:
Features: 34m² studio, deck
Outgoings: body corp levy $2147/year
Outcome: sold for $290,000
Agents: Leo & Stephen Shin

Oxford, 13 Mount St, unit 13F:
Features: 42m², one-bedroom apartment
Income assessment: $360/week current
Outcome: passed in
Agent: Yuyu Cao

Victoria Quarter

Marina Park, 146 Fanshawe St, unit 12:
Features: one-bedroom apartment, garage
Outcome: withdrawn from auction
Agents: Bella Stefano & Sherry Shao

Waterfront

Princes Wharf, 137 Quay St, unit 10:
Features: leasehold, 57m², one-bedroom apartment, balcony
Outgoings: 5-yearly ground rent review has been replaced with a fixed annual increase of 3% or CPI, whichever is greater
Outcome: no bid, back on market at $228,000
Agent: Anah Jordan

Isthmus east

Ellerslie

178A Ladies Mile:
Features: 3-bedroom standalone townhouse, deck, carport
Outcome: passed in at $730,000
Agents: Anna Stephens-Brown

Epsom

22 Rangiatea Rd, unit 3:
Features: 98m², 2-bedroom unit, garage, storage, 2-year-old roof, ceiling insulated
Outcome: passed in at $880,000
Agent: Helen Lam

Mt Wellington

51 Ireland Rd, unit 41:
Features: 2-bedroom terrace, study, carport, in gated complex
Outcome: passed in at $480,000, back on market at $560,000
Agent: Kevin Liu

Panmure

10B Allenby Rd:
Features: 2-bedroom upstairs end unit, garage, storage
Outcome: no bid
Agents: George Fong & Paul Sun

Parnell

28C Stanwell St:
Features: 2-bedroom garden apartment, 2 bathrooms, study, courtyard, 2 parking spaces
Outcome: sold for $775,000
Agent: Cindy Yu

St Johns

35 Simkin Avenue, unit 2:
Features: 2-bedroom unit, carport, basement workshop
Outcome: passed in, back on market at $698,000
Agent: May Long

Isthmus west

Mt Eden

14 Lovelock Avenue, unit 10:
Features: 2-bedroom apartment, balcony, parking space
Outcome: sold for $640,000
Agent: Prasanna Kumar & Aaron Julian

Waterview

1510 Great North Rd, unit 15:
Features: 88m², 3-bedroom apartment, 2 bathrooms, parking space, newly reclad & code compliance certificate issued in January
Outcome: sold for $380,000
Agents: David Dowse & Susie Calderwood

North-west

Henderson

16 Buscomb Avenue:
Features: 1033m² site, 3-bedroom house + 2 separate 2-bedroom units, all redecorated, new kitchens & bathrooms; house has basement garage, carport, storage; units have their own entrance from Sel Peacock Avenue, offstreet parking; zoned terrace housing & apartments
Outcome: sold for $1.771 million
Agent: Jim Murray

Attribution: Auctions, auction documents.

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Vincent St apartment sells

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

CBD

Uptown

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

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

North-west

New Lynn

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

Attribution: Auction.

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2 townhouse sales

A duplex unit in Royal Oak was sold at Bayleys’ suburban auction series last week and an Onehunga townhouse was sold post-auction.

Isthmus east

Onehunga

9C Curzon St:
Features: single-level 3-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: sold post-auction
Agent: Glenn Baker

Royal Oak

22 Turama Rd, unit 2:
Features: 152m², 2-bedroom duplex, double internal-access garage
Outcome: sold for $935,000
Agent: John Procter

North-east

Red Beach

15A Fairway Avenue:
Features: m², 2-bedroom townhouse, office, double garage
Outgoings: rates $/year including gst; body corp levy $/year
Income assessment: $/week
Outcome: passed in
Agents: Karen Asquith & Graeme Mann

Attribution: Agency release.

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4 out of 5 apartments sell at auction

All but one of the 5 apartments auctioned at Ray White City Apartments yesterday were sold under the hammer, or shortly after. Pictured are the Embassy Apartments on Wakefield St.

CBD

Learning Quarter

Forte, 37 Symonds St, unit 909:
Features: 46m², 2-bedroom corner unit, deck
Outgoings: rates $1370/year including gst; body corp levy $4494/year
Income assessment: $540/week current
Outcome: passed in at $481,000
Agents: Aileen Wu

Embassy, 18 Wakefield St, unit 6M:</strong
Features: 109m², 2 bedrooms, balcony, parking space
Outgoings: rates $1825/year including gst; body corp levy $4688/year
Outcome: sold for $792,000
Agents: Daniel Chen & Amy Tsai

The Quadrant, 10 Waterloo Quadrant, unit 1910:
Features: 32m², one bedroom, balcony, out of the hotel lease
Outgoings: rates $1237/year including gst; body corp levy $3930/year
Income assessment: $430/week, fixed until March
Outcome: sold for $388,000 shortly after being passed in at $360,000
Agents: Lucia Gao

Isthmus west

St Marys Bay

Hargreaves, 23 Hargreaves St, unit 201:
Features: 57m², one bedroom, study, parking space, remedial work underway
Outgoings: rates $1116/year including gst; body corp levy $2516/year
Outcome: sold for $121,000
Agent: Victor Liu

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 1501:
Features: 48m², one bedroom, under hotel management
Outgoings: rates $4154/year including gst; body corp levy $3247/year
Outcome: sold for $271,000 + gst
Agents: James Mairs & Gillian Gibson

Attribution: Auction.

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2 apartments sell in mixed intensive offering

In a mixed offering of 5 intensive residential properties at Bayleys’ auction yesterday – 3 cbd & suburban apartments (one leasehold), a suburban townhouse and a villa on a cross-lease – 2 of the apartments were sold under the hammer.

CBD

Uptown

Q Central, 15 City Rd, unit 10C:
Features: leasehold, fully furnished one-bedroom apartment, leased to Housing NZ until December 2018
Outcome: sold for $85,000
Agents: Marcus Fava

Isthmus west

Blockhouse Bay

77B Taylor St:
Features: 4-bedroom townhouse, 3 bathrooms, balcony, double garage
Outcome: passed in at $1.04 million
Agent: Summer Sun

Freemans Bay

15 Collingwood St:
Features: cross-lease, half share in 638m², 4-bedroom house, 2 bathrooms, 2 parking spaces
Outcome: passed in at $2.04 million
Agents: Suzie Paine

Grey Lynn

167A Great North Rd:
Features: 2-level apartment, 2 bedrooms, 2 outdoor spaces, 2 living rooms, parking space
Outgoings: rates $2490/year including gst; body corp levy $4198/year
Outcome: sold for $850,000
Agent: Edward Pack

Mt Eden

Chambers & Station, 64 Valley Rd, unit 1:
Features: 113m² internal, 53m² outdoor, 2-bedroom apartment, 2 bathrooms, 2 living areas, 2 parking spaces
Outgoings: body corp levy $6280/year
Outcome: passed in at $1.6 million
Agents: Julie Prince, Ellie Prince & Diane Jackson

Attribution: Auction.

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Updated: Now 3 commercial sales but homes passed in at auction

Published 17 August 2017, updated 22 August 2017
2 of the 3 commercial properties auctioned at Bayleys on 16 August were sold under the hammer. The other, an Avondale development site (pictured), was passed in at $5.3 million and has since been sold, price confidential.

Both apartments & a cross-leased Grey Lynn home in the auction were passed in.

Apartments

CBD

Learning Quarter

Celestion Waldorf, 19 Anzac Avenue, unit 1502:
Features: furnished 2 bedrooms
Outgoings: body corp levy $4725/year
Income assessment: in hotel pool, lease 2020 + 2 10-year rights of renewal
Outcome: passed in at $265,000
Agents: Caleb Rufer & Julie Prince

Isthmus west

Grey Lynn

14A Westmoreland St:
Features: leasehold (999-year lease), cross-lease, half share in 697m², 3 bedrooms, study; neighbouring property at 16-18 Westmoreland St a potential development site in business local centre zone
Outcome: passed in at $1.1 million
Agents: Robyn Clark & Peter Tanner

St Marys Bay

117 Shelly Beach Rd, unit 1:
Features: 4 bedrooms, 2 bathrooms, 2 living rooms, central vac system, 2 parking spaces
Outgoings: body corp levy $7206/year
Outcome: passed in at $1.5 million
Agents: Sally Ridge & Daryl Spense

Commercial

Isthmus east

Mt Wellington

132D Marua Rd:
Features: 170m² industrial unit – high stud warehouse, office, mezzanine & amenities, 3 parking spaces
Outgoings: body corp levy $2449/year for year ending today
Outcome: sold for $675,000
Agents: Greg Hall & James Valintine

Isthmus west

Avondale

Updated: 1843 Great North Rd:
Features: 2309m² site, 250m² floor area – café & villa; height limit under unitary plan 32.5m in business town centre zone 
Outcome: passed in at $5.3 million, sold post-auction, price confidential
Agents: Laurie Bell & Kate Kirby

Mt Roskill

58 & 60 Dornwell Rd:
Features: 2 properties offered together, vacant, each of 825m², zoned business – light industry, No 60 on corner of Carr Rd, floor area 1088m² contains warehouse showroom & office
Outcome: sold for $2.8 million
Agents: Mike Adams, Genevieve Thompson-Ford, Cameron Melhuish

Attribution: Company release.

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Apartment & cross-lease sell

One of the 3 apartments auctioned at Barfoot & Thompson today, and one of the 3 eastern suburbs cross-leased units auctioned yesterday, were sold under the hammer.

CBD

Federal St

Federal, 207 Federal St, unit 803:
Features: 61m², 2 bedrooms
Outgoings: body corp levy $5240/year
Outcome: sold for $540,000
Agents: Stephen Shin & Rhys Chen

Victoria Quarter

Fiore 2, 168 Hobson St, unit 405:
Features: 44m², one bedroom
Outgoings: rates $1588/year including gst; body corp levy $2428/year
Income assessment: $460-480/week
Outcome: passed in at $460,000
Agents: Selina Zheng & Tommy Zhang

SugarTree Prima, 27 Union St, unit 906:
Features: 75m², 2 bedrooms, 2 bathrooms, balcony, storage locker, option to buy parking space
Income assessment: $650/week, fixed until January
Outcome: passed in at $610,000
Agents: Livia Li & Alan Guo

Isthmus east

Mt Wellington

399 Ellerslie-Panmure Highway, unit 1:
Features: cross-lease, 1/5 share in 1315m², 80m² 2-bedroom unit, garage
Outcome: passed in at $621,000
Agents: Robben Li & Will Liu

Remuera

11 Burswood Crescent, unit 2:
Features: cross-lease, half share in 827m², 3 levels, 4 bedrooms, 3 bathrooms, 2 living rooms, double garage
Outcome: passed in at $3.1 million, back on the market at $4 million
Agent: Paul Studman

9 Armadale Rd, unit 4:
Features: cross-lease, 1/7 share in 1011m², 2-bedroom unit, courtyard, carport,
Outcome: sold for $762,000
Agents: Janice Hamilton-Cox & Philip Cox

Attribution: Auctions.

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2 apartments sell at Ray White auction

2 apartments in the Cintra & Altitude buildings were sold and 2 passed in at Ray White City Apartments’ auction today.

CBD

Learning Quarter

The Whitaker, 2 Whitaker Place, unit 8H:
Features: 29m² studio
Outgoings: rates $1071/year including gst; body corp levy $3817/year
Income assessment: $350/week, fixed until February; appraisal $380-400/week furnished
Outcome: passed in at $200,000
Agents: Damian Piggin & Daniel Horrobin

Crown on Cintra, 3 Whitaker Place, unit 11E:
Features: 30m² fully furnished studio, under hotel management; remediation project pending
Outgoings: rates $929/year including gst; body corp levy $3409/year
Income assessment: $350/week current
Outcome: sold for $198,000
Agents: James Mairs & Lucia Gao

Quay Park

Waldorf Scene 2, 18 Beach Rd, unit 709:
Features: leasehold, 58m², one bedroom, balcony, secure parking space
Outgoings: rates $1461/year including gst; body corp levy $4086/year, ground rent $5564/year
Income assessment: vacant; appraisal $600/week
Outcome: passed in at $125,000
Agents: James Mairs

Victoria Quarter

Altitude, 34 Kingston St, unit 3C:
Features: 40m², 2 bedrooms, balcony
Outgoings: rates $1084/year including gst; body corp levy $3633/year
Income assessment: $460/week, fixed until February; appraisal $460-480/week furnished
Outcome: sold for $337,000
Agents: Damian Piggin & Daniel Horrobin

Attribution: Auction.

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Interest withers at apartments auction

A Connaught apartment was sold at Ray White City Apartments’ auction yesterday, interest in another fell well short of vendor aspirations and there was just one bid for the final 3 properties on offer.

CBD

Learning Quarter

The Connaught, 14 Waterloo Quadrant, unit 7D:
Features: 48m², one bedroom, 13m² balcony
Outgoings: rates $1832/year including gst; body corp levy $4252/year
Income assessment: $530-580/week furnished
Outcome: sold for $547,000
Agents: Judi & Michelle Yurak

The Whitaker, 2 Whitaker Place, unit 5B:
Features: 33m² studio; according to the pre-contract disclosure statement, the building’s goods lift is out of order and the body corporate is assessing roof remediation
Outgoings: rates $1088/year including gst; body corp levy $4271/year
Income assessment: $320/week current, appraisal $380-400/week furnished
Outcome: passed in at $202,000
Agents: Adam Gurr

Lorne St

Lorne St Lofts, 4 Lorne St, unit D:
Features: 40m² studio
Outgoings: rates $1367/year including gst; body corp levy $7372/year
Income assessment: $430-460/week furnished
Outcome: no bid
Agents: Judi & Michelle Yurak

Quay Park

Scene 3, 30 Beach Rd, unit 714:
Features: leasehold, 62m², one bedroom, balcony, covered parking space
Outgoings: rates $1331/year including gst; body corp levy $2977/year, ground rent $6188/year, next review in 2018
Income assessment: $550/week current
Outcome: passed in at $100,000
Agents: Ann Bennett

Uptown

Bianco off Queen, 2 White St, unit 11G:
Features: 81m², 2 bedrooms, balconies facing east & west, secure parking space; the vendor has given no warranty on weathertightness or structural integrity and wants to sell without liability
Outgoings: rates $1608/year including gst; body corp levy $7124/year plus an additional $3800 levy
Income assessment: unit $680-700/week, parking $70-80/week
Outcome: no bid
Agents: May Ma & Mark Li

Attribution: Auction.

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2 uptown apartments sell

2 of the 3 city centre apartments auctioned at Barfoot & Thompson today – both at the top of the hill – were sold under the hammer. The other attracted no bid.

One of the units sold is leasehold, in Q Central (pictured) on the Methodist Church land at the top of Queen St, and the other is across on Pitt St, just down from the new rail station to be developed around the Karangahape Rd intersection.

CBD

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1016:
Features: 20m² furnished studio, balcony
Outgoings: rates $1133/year including gst; body corp levy $2710/year
Income assessment: $380/week current, fixed until February; appraisal $380-420/week
Outcome: no bid
Agent: Selina Zheng

Uptown

Q Central, 48 Liverpool St, unit 3B:
Features: leasehold term runs until 2086, 2 bedrooms, double garaging
Outgoings: body corp levy $8612/year for unit & parking
Income assessment: unit $520/week, parking $50/week
Outcome: pre-auction offer $165,000, sold at auction for $186,500
Agents: Zoran Farac & Leo Shin

The Chatham, 70 Pitt St, unit 702:
Features: 50m², one bedroom, storage locker, secure parking space
Outgoings: body corp levy $6487/year
Outcome: sold for $505,000
Agents: Wendy Feng & Jack Li

Attribution: Auction.

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