Archive | CBD and fringe

Federal unit sells

Published 30 August 2012

A unit in the Federal apartment block sold under the hammer at Ray White City Apartments today, but the one other unit on offer failed to secure an opening bid.

 

Learning Quarter

The Crescent, 36 Eden Crescent, unit 303:

Outcome: postponed

Agent: James Mairs & Marcus Fava

 

Queen St valley

 

The Federal, 18 Federal St, unit 5D:

Features: 49m², one bedroom

Outgoings: rates $947/year including gst; body corp levy $2537/year

Income assessment: $330-350/week unfurnished

Outcome: sold vacant for $227,000

Agent: Judi Yurak

 

Uptown

 

City Zone, 11 Liverpool St, unit 1205:

Features: 44m², 2 bedrooms,

Outgoings: rates $920/year including gst; body corp levy $2403/year

Income assessment: $360-400/week

Outcome: no bid, has conditional offers

Agent: Judi Yurak

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Attribution: Auction, story written by Bob Dey for the Bob Dey Property Report.

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4 apartments sell at City Sales

Published 23 August 2012

3 apartments sold under the hammer at City Sales yesterday and a fourth post-auction.

Some were at comparatively high prices – for instance, a 27m² Forte unit at $5926/m² and another in Scotia Place at $5283/m², for which bids in the range of $3-3500/m² would have been more likely a year or so ago. Prices are up because rents have risen this year, and rents rose to return to equilibrium with capital values. But for that Forte unit the gross yield is 10.4%, or 8.2% after rates & levies and assuming no periods of vacancy.

Isthmus west

Morningside, 3 Morningside Drive, unit 113:

Features: 59m², one bedroom, 2 parking spaces

Outgoings: rates $838/year including gst; operational levy $2960/year

Income assessment: none given

Outcome: passed in at $220,000

Agent: Antoinette van Zyl

Learning Quarter

Forte, 37 Symonds St, unit 507:

Features: 27m², one bedroom, deck

Outgoings: rates $862/year including gst; operational levy $2595/year

Income assessment: $320/week fixed until June 2013

Outcome: sold for $160,000

Agent: May Ma

Uptown

Hopetoun Delta, 39 Pitt St, unit 25:

Features: 80m², 2 bedrooms, deck, parking space

Outgoings: rates $1525/year including gst; operational levy $1624/year

Income assessment: $420/week

Outcome: passed in at $350,000, sold post-auction for $372,000

Agent: Rita Herceg

Scotia, 8 Scotia Place, unit 8F:

Features: 30m², one bedroom, deck

Outgoings: rates $815/year including gst; operational levy $2842/year

Income assessment: vacant

Outcome: sold for $158,500

Agent: Georgia Featherstone

Waterfront

Vibe, 16 Market Place, unit 2J:

Features: leasehold, 40m², one bedroom, deck

Outgoings: rates $1148/year including gst; operational levy $4835/year; ground rent $2937 to March 2013

Income assessment: $420/week fixed until January 2013

Outcome: sold for $138,000

Agent: May Ma & Mark Li

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Attribution: Auction, story written by Bob Dey for the Bob Dey Property Report.

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One sale as 4 units passed in

Published 23 August 2012

Just one unit sold under the hammer out of 4 taken to auction today at Ray White City Apartments.

 

One terraced unit in Parnell was taken to auction last night at Ray White City Apartments’ new Newmarket office, at 136 Broadway, but passed in on a vendor bid.

 

Isthmus east

 

Astoria, Grafton, 57 Grafton Rd, unit 2:

Features: 50m², 2 bedrooms, opposite Auckland Hospital

Outgoings: rates $1314/year including gst; body corp levy $2733/year

Income assessment: $345/week, fixed 5 years ago

Outcome: passed in at $265,000

Agent: Stuart Goodacre

 

Parnell, 21 Birdwood Crescent, unit 1:

Features: 243m² terraced unit, 4 bedrooms (the fourth has a separate entry for a slef-contained guest room or work from home option), 3 bathrooms, kitchen, lounge, double garage

Outgoings: rates $3156/year including gst

Outcome: passed in at vendor bid of $1 million

Agent: Darryl Pope

 

Uptown

 

Nova en Scotia, 18 Scotia Place, unit 1A:

Features: 44m², fully furnished 2 bedrooms

Outgoings: rates $1194/year including gst; body corp levy $2805/year

Income assessment: $360/week

Outcome: passed in at $185,000

Agent: Aileen Wu

 

Victoria Quarter

 

The Peaks, 117 Victoria St West, unit 3A:

Features: 60m², one bedroom, parking space, apartment renovated, windows insulated against noise

Outgoings: rates $1073/year including gst; body corp levy $2105/year

Income assessment: vacant possession

Outcome: passed in at $285,000

Agent: Ron Yang

 

Zest, 72 Nelson St, unit 1229:

Features: 32m², furnished 2 bedrooms

Outgoings: rates $1134/year including gst; body corp levy $2098/year

Income assessment: $300/week

Outcome: sold for $173,000

Agent: Judi Yurak

 

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Attribution: Auctions, story written by Bob Dey for the Bob Dey Property Report.

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Altitude unit sells, and the first sale at city office’s Newmarket branch

Published 16 August 2012

A unit in the downtown Altitude apartment block with long-term tenants sold under the hammer at Ray White City Apartments’ auction today, but a Q Central leasehold unit struggled to attract interest, as did one in the Ascent building.

 

Below, also, a unit sold at the first auction run by Ray White’s new Newmarket office.

 

Queen St valley

 

Altitude, 34 Kingston St, unit 1F:

Features: 38m², 2 bedrooms

Outgoings: rates $1156/year including gst; body corp levy $3123/year

Income assessment: $270/week

Outcome: sold for $170,000

Agent: Judi Yurak

 

Uptown

 

Q Central, 28 Liverpool St, unit 6A:

Features: leasehold, 94m² (including lockup parking), 2 bedrooms

Outgoings: rates $1390/year including gst; body corp levy $3266/year; ground rent $5613/year

Income assessment: not given

Outcome: passed in at $83,000 (mortgagee sale)

Agent: John McCracken

 

Victoria Quarter

 

Ascent, 149 Nelson St, unit 316:

Features: 56m², 2 bedrooms

Outgoings: rates $1070/year including gst; body corp levy $3400/year

Income assessment: $370/week fixed until February 2013

Outcome: passed in at vendor’s bid of $150,000

Agent: Damian Piggin & Daniel Horrobin

 

Isthmus east

 

A brick & tile unit at Epsom attracted 5 bidders when Ray White’s new Newmarket office on Broadway held its first auction on Wednesday night. The Newmarket office, covering Newmarket, Epsom & Parnell, is an extension of the City Apartments branch of Phil Horrobin into city fringe suburbs.

 

Epsom, 617 Manukau Rd, unit 1:

Features: 100m², 2 bedrooms, lounge, large kitchen with dinette, lockup garage with rear storage area, near Greenwood’s Corner

Outcome: sold for $515,000

Agent: Pat Taylor

 

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Attribution: Auction, story written by Bob Dey for the Bob Dey Property Report.

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Update: Grey Lynn apartment sold post-auction

Published 16 August 2012, updated 17 August

A Grey Lynn apartment attracted interest at Bayleys’ auction on Wednesday, but bidding fell just short of reserve. However, it was sold last night.

 

Ivory Apartments, Grey Lynn, 16 Chapman St, unit 6J:

Features: 75m², 2 bedrooms, parking space,

Outgoings: rates $/year including gst; operational levy $/year

Income assessment: $480-500/week unfurnished

Outcome: passed in at $350,000 including gst in mortgagee auction, sold last night for $360,000

Agents: Julie Prince & Trent Quinton

 

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Attribution: Auction, story written by Bob Dey for the Bob Dey Property Report.

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9m² rooms & Don Ha investment houses taken to auction

Published 9 August 2012

Ray White City Apartments’ auction today had a couple of twists – 9 9m² rooms on freehold strata titles, offered by an investor who’d refurbished them, and 4 3-bedroom houses on a subdivided suburban property, taken to market by the receivers of one of Don Ha’s companies.

 

Only 3 of the rooms sold under the hammer, and none of the houses.

 

Among the other properties on offer were 2 units in the Princeton, both sold, and a large unit in the former regional authority headquarters opposite St Matthews-in-the-city, now the Kingsbridge, which was one of the earliest post-1987 conversions in Auckland.

 

Auction results:

 

Isthmus east

 

Bridgeside, Grafton, 127 Grafton Rd, unit 2E:

Features: 56m², one bedroom, deck, 2 parking spaces

Outgoings: rates $1353/year including gst; body corp levy $4375/year

Income assessment: $390/week

Outcome: passed in at $285,000

Agent: Ostin Kim

 

Learning Quarter

 

Mount Terrace Apartments, 33 Mount St, 9 rooms:

Features: all 9m² units, upgraded, communal facilities

Outgoings: body corp levy $1394/year, total outgoings about $3100/year including cleaning of the 2 shared bathrooms & council rates

Income assessment: $240/week each for rooms with double bed, $200/week for single bed

Outcome: 3 sold for $88,000 each (units 5J, 11E & 11H)

 

Princeton, 30 Symonds St, units 12E & 12F:

Features: both 27m², one bedroom

Outgoings: rates $867/year each including gst; body corp levy $3932/year each

Income assessment: $29,003/year (including gst) each

Outcome: 12E sold for $142,500, 12F sold for $146,000

Agent: Marcus Fava

 

Victoria Quarter

 

Aura, 53 Cook St, unit 202:

Features: 49m², 2 bedrooms, parking space

Outgoings: rates $1139/year including gst; body corp levy $4274/year

Income assessment: $400/week

Outcome: passed in at vendor’s bid of $270,000

Agent: Dominic Worthington

 

Kingsbridge, 72 Wellesley St, unit 5K:

Features: 81m², 2 bedrooms, deck, parking space

Outgoings: rates $1686/year including gst; body corp levy $5740/year

Income assessment: $550-600/week

Outcome: passed in at $305,000

Agent: Raymond Zhang

 

South – houses

 

Papatoetoe, 89 Park Avenue, 4 units:

Features: The 4 houses are owned by New Generation Developments Ltd (Don Ha, a former Ray White franchise holder & property investment promoter, now with his sown agency company). The ompany’s receivers took the houses to auction. They’re all 3 bedrooms, on small sites, 3 of them new and the other the original 1950s house

Outgoings: rates $/year including gst; body corp levy $/year

Income assessment: $/week

Outcome: The new units (2, 3 & 4) all passed at $305,000 each, unit 1 passed in at $250,000, same bidder on all 4

Agent: Stephanie Kelland

 

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Attribution: Auction, story written by Bob Dey for the Bob Dey Property Report.

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Tussle for Statesman unit takes price $101,000 over reserve

Published 9 August 2012

City Sales achieved 3 sales under the hammer from 6 apartments taken to auction yesterday. Both Metropolis units were passed in but a Statesman apartment was sold after a 2-way tussle lifted the price by $101,000 after it passed the reserve.

 

Isthmus east

 

Newmarket, City Towers, 2 Maungawhau Rd, unit 208:

Features: 40m², one bedroom, deck, parking space

Outgoings: rates $1491/year including gst; operational levy $3873/year (assuming discount)

Income assessment: short stay

Outcome: sold for $115,500

Agent: Maryanne Wong

 

Learning Quarter

 

Columbia, 15 Whitaker Place, unit 13D:

Features: 42m², 3 bedrooms

Outgoings: rates $1294/year including gst

Income assessment: in management lease

Outcome: sold for $110,000

Agent: Ryan Bridgman

 

The Statesman, 1 Parliament St, unit 1010:

Features: 64m², 2 bedrooms, deck, parking space

Outgoings: rates $1579/year including gst; operational levy $5405/year

Income assessment: not given

Outcome: sold for $531,000

Agent: Ryan Bridgman

 

Queen St valley

 

Metropolis, 1 Courthouse Lane, unit 2403:

Features: 110m², 2 bedrooms, 2 bathrooms, 2 decks, parking space

Outgoings: rates $2555/year including gst; operational levy $14,122/year (assuming discount)

Income assessment: not given

Outcome: passed in at $600,000

Agent: Iona Rodrigues

 

Metropolis, 1 Courthouse Lane, unit 2609:

Features: 60m², one bedroom, deck, parking space

Outgoings: rates $1859/year including gst; operational levy $9603/year (assuming discount)

Income assessment: not given

Outcome: passed in at $410,000

Agent: Iona Rodrigues

 

Victoria Quarter

 

Harbour Green, 11 Union St, unit 801:

Features: 47m², 2 bedrooms, deck, parking space

Outgoings: rates $1294/year including gst; operational levy $3738/year

Income assessment: not given

Outcome: passed in at $227,000

Agent: Lisa Zhang

 

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Attribution: Auction, story written by Bob Dey for the Bob Dey Property Report.

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3 apartments sell under hammer at Bayleys

Published 9 August 2012

3 apartments were sold under the hammer at a mixed Bayleys auction yesterday. A commercial unit (details at the foot of this article) was passed in.

 

Isthmus east

 

Grafton, 49D Seafield View Rd:

Features: m², one bedroom, private patio, covered parking space

Outcome: sold for $247,500

Agent: Angela Yang

 

Isthmus west

 

The Palms, Herne Bay, 18 Hamilton Rd, unit 3:

Features: one bedroom, parking space

Outgoings: body corp levy $4377/year

Outcome: sold for $515,000

Agent: Sue Hatton

 

Learning Quarter

 

Britomart Apartments, 14 Emily Place, unit 6A:

Features: 70m², 2 bedrooms, secure parking space

Outgoings: rates $1620/year including gst; body corp levy $7269/year

Outcome: passed in at $405,000

Agent: Blair Haddow

 

Uptown

 

2 Upper Queen St, unit 10:

Features: m², 3 bedrooms, 2 secure underground parking spaces

Outgoings: body corp levy $6231/year

Outcome: sold for $532,000

Agent: Jacqui Dellar

 

Commercial

 

A commercial building at Eden Terrace with options for use was passed in at the vendor’s bid.

 

Isthmus west

 

Eden Terrace, 14 Charlotte St:

Features: 505m², 2-level standalone office or residential building on 311m² site, 6 secure basement parking spaces & 2 offstreet parks

Outcome: passed in at vendor bid of $1 million

Agents: Alan Haydock & Cameron Melhuish

 

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Attribution: Auction, story written by Bob Dey for the Bob Dey Property Report.

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5 out of 5 apartments passed in at Bayleys

Published 3 August 2012

All 5 apartments taken to auction at Bayleys on Wednesday were passed in. They included 3 in the HarbourCity tower onGore St and the mortgagee sale of a Quba unit in Quay Park.

 

Quay Park

 

Quba, 2 Tapora St, unit 213:

Features: leasehold, mortgagee sale

104m², 2 bedrooms, 2 bathrooms including master ensuite, parking space

Outgoings: body corp levy $5774/year, ground lease $5457/year

Outcome: passed in at $130,000 including gst

Agent: Luke McCaw

 

Queen St valley

 

HarbourCity, 16 Gore St, unit 1A:

Features: 38m², one bedroom

Income assessment: fixed-term tenancy

Outcome: passed in at $190,000

Agent: Luke McCaw

 

HarbourCity, 16 Gore St, unit 8A:

Features: 38m², one bedroom

Income assessment: fixed-term tenancy

Outcome: passed in at $190,000

Agent: Luke McCaw

 

HarbourCity, 16 Gore St, unit 9J:

Features: 27m²

Outcome: passed in at $155,000

Agent: Luke McCaw

 

Victoria Quarter

 

22 Nelson St, unit 1306:

Features: 2 bedrooms, 2 bathrooms, 2 parking spaces

Outcome: passed in at vendor’s bid of $400,000

Agents: Harry Cheng & Hamish Duke

 

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Attribution: Auction, story written by Bob Dey for the Bob Dey Property Report.

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2 sales at Ray White apartments auction

Published 2 August 2012

One unit was sold under the hammer and another was conditionally sold at Ray White City Apartments’ auction today.

 

Auction results:

 

Learning Quarter

 

The Cambridge, 43 Anzac Avenue, unit 101:

Features: 85m², 5 bedrooms, 2 bathrooms

Outgoings: rates $1491/year including gst; body corp levy $8523/year

Income assessment: $850/week ($175/room)

Outcome: passed in at $335,000

Agent: Marcus Fava & James Mairs

 

The Cube, 155 Beach Rd, unit 204:

Features: 54m², 2 bedrooms

Outgoings: rates $1226/year including gst

Income assessment: $350-370/week

Outcome: passed in at $220,000

Agents: James Mairs & Marcus Fava

 

The Quadrant, 10 Waterloo Quadrant, unit 1002:

Features: 32m² including parking, part-furnished one bedroom

Outgoings: rates $1390/year including gst; body corp levy $3038/year, carpark levy $908/year

Outcome: passed in at $225,000

Agent: Aileen Wu

 

Quay Park

 

The Docks, 2 Dockside Lane, unit 122:

Features: leasehold, 48m², one bedroom, tandem parking

Outgoings: rates $1593/year including gst; body corp levy $7205/year including $2507 for ground lease

Income assessment: $430-450/week

Outcome: sale at $124,501 conditional on acceptance by vendor, who wasn’t available at completion of auction

Agent: Marcus Fava & James Mairs

 

Victoria Quarter

 

Quest on Nelson, 92 Nelson St, unit 6F:

Features: 45m², furnished one bedroom, parking space, not in management pool

Outgoings: rates $2226/year including gst; body corp levy $4000/year (to be confirmed)

Income assessment: $/week

Outcome: sold for $222,000

Agents: James Mairs & Marcus Fava

 

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Attribution: Auction, story written by Bob Dey for the Bob Dey Property Report.

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