Archive | Apartments

One unit sells, 2 passed in well short of asking price

A vacant Quadrant apartment was sold under the hammer and 2 other city apartments were passed in at City Sales’ auction on Wednesday.

The pass-ins went back on the market at substantial premiums to the top bids. A 7th-floor Aura unit was passed in at 6939/m² internal, against $8673/m² sought subsequently. A CityZone unit was passed in at $7727/m² internal, against $9068 sought subsequently. Both had a deck, neither had parking.

CBD

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1710:
Features: 42m², 2 bedrooms, 15m² deck
Outgoings: rates $1427/year including gst; body corp levy $5105/year
Outcome: sold for $485,000
Agents: Steve Kirk, Habeeb Urrahman & Chris Cairns

Uptown

CityZone, 11 Liverpool St, unit 2005 (20B):
Features: 44m², 2 bedrooms, deck
Outgoings: rates $1240/year including gst; body corp levy $3936/year
Outcome: passed in at $340,000, back on market at $399,000
Agent: Tony Kelly

Victoria Quarter

Aura, 53 Cook St, unit 702:
Features: 49m², 2 bedrooms, deck
Outgoings: rates $1227/year including gst; body corp levy $4738/year
Outcome: passed in at $340,000, back on market at $425,000
Agent: Tony Kelly

Attribution: Auction documents.

Continue Reading

6 intensive units sell out of 15 offered at Barfoot auctions

One of 3 apartments on offer sold at Barfoot & Thompson’s specialist apartments auction on Thursday, another had sold at an auction brought forward to Monday, and a townhouse sold at mortgagee auction on Wednesday.

Then at the later Thursday auctions sessions, one apartment & 2 townhouses sold.

Those 6 intensive-property sales were among 15 sales out of 43 residential properties (including 2 sold prior & one withdrawn) on the agency’s city branch auction lists over Tuesday-Thursday.

Those auction lists for the 3 days compare with lists of 80 properties/day at the height of the market late last year & early this year. The success rate is well down and, although I can’t be sure of how far vendors have bent to achieve a sale on the day, I’m aware that many vendors have met the tougher market over the last few months.

CBD

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1612:
Features: 45m² internal, 13m² deck, 2-bedroom corner apartment, parking space
Outcome: sold for $660,000
Agent: Paul Studman

Connaught, 14 Waterloo Quadrant, unit 3F:
Features: 90m², 2-bedroom corner apartment, storage locker, parking space
Outcome: no bid
Agent: Casey Chen

Shortland St

Shortlands, 5C/97 Shortland St, unit 5C:
Features: 54m², one-bedroom corner apartment, balcony
Outcome: sold for $537,500
Agents: Sarah Garlick & Estee Zeng

Uptown

Eclipse, 156 Vincent St, unit 11J:
Features: 41m², fully furnished one bedroom
Outgoings: rates $1215/year including gst; body corp levy $3556/year
Outcome: passed in, back on market at $415,000
Agents: Selina Zheng & Tommy Zhang

Waterfront

Princes Wharf, 137 Quay St, shed 19, unit 21:
Features: leasehold, one bedroom, deck, parking space
Outcome: sold at pre-auction on 3 July
Agents: Ian Waddams & Donna Rugay

Isthmus east

Ellerslie

10 Hawthorne Place, unit 1:
Features: 2 bedrooms, deck, carport
Outcome: sold for $725,000
Agent: Nick Lyus

19 Robert St, apartments 1 & 2:
Features: 4 bedrooms in 2 apartments in villa, 2 bathrooms, separate lounges, carport for 3 cars + 3 offstreet parking spaces
Outcome: no bid, back on market at $1.385 million
Agent: Steve Hood

Epsom

39 Onslow Avenue, unit 3:
Features: m², 3-bedroom townhouse, 2 bathrooms, deck, carport
Outgoings: rates $/year including gst; body corp levy $/year
Income assessment: $/week
Outcome: sold for $1.453 million
Agents: Sara Knight & Vern Hines

Newmarket

Mosman, 4 Sarawia St, unit 1:
Features: 80m², ground-floor end unit, 2 bedrooms, carport
Outcome: no bid
Agent: Liz Derbyshire

Remuera

71 Ngapuhi Rd, unit 2:
Features: 3-bedroom unit, deck, garage
Outcome: no bid, back on market at $829,000
Agent: Jason Li

78 Waiatarua Rd, unit 2:
Features: 2-bedroom garden unit, garage + utility room
Outcome: no bid
Agents: Stanley& Barbara Armon

St Heliers

30K Tarawera Terrace:
Features: 134m², 2-bedroom penthouse apartment, balcony, tandem garage + guest parking
Outcome: no bid, back on market at $875,000
Agent: Kelly Midwood

3 Walmsley Rd, unit 3:
Features: 2-bedroom unit, basement garage, carport
Outcome: no bid, back on market at $785,000
Agents: Margot Torrance & Lynette Boyd

St Johns

20 Simkin Avenue, unit 1:
Features: 100m², 2-level 2-bedroom townhouse, plus basement, deck
Outcome: sold at mortgagee auction for $120,000
Agent: Philip Davis

Attribution: Agency.

Continue Reading

2 cbd apartments & 3 suburban units sell

2 of the 4 central area apartments auction at Barfoot & Thompson on Thursday were sold under the hammer.

Of 12 suburban intensive residential properties auctioned during the week, 3 were sold under the hammer. 4 new townhouses in a group in Mt Albert were all passed in.

CBD

Learning Quarter

Emily, 22 Emily Place, unit 5E (ex-Four Seasons):
Features: 118m², 3 bedrooms, balcony, in 8-storey art deco former office & warehouse building
Outcome: no bid
Agents: Leo Shin & Zoran Farac

Uptown

Amora, 100 Greys Avenue, unit 7F:
Features: one-bedroom hotel unit
Income assessment: management contracted until 2020, hotel pays the body corporate levies & council rates, annual CPI increase in income, owner has 4300 shares in the company, net income just under $9000/year
Outcome: sold for $215,000 at pre-auction on Friday
Agent: Mike Campbell

Victoria Quarter

Imperial Gardens, 135 Hobson St, unit 218:
Features: 2 bedrooms, storage locker, parking space
Outcome: no bid
Agents: Wendy Feng & Jack Li

SugarTree Prima, 27 Union St, unit 412:
Features: 75m², 2 bedrooms, 2 bathrooms, balcony, parking space
Outgoings: body corp levy $/year
Income assessment: $610/week unfurnished current
Outcome: sold for $695,000
Agent: Aaron Cook

Isthmus east

Ellerslie

14 Ballarat St, unit 1:
Features: 116m², 3-bedroom unit garage
Outcome: passed in, back on market at $698,000
Agents: Kelly Midwood

39 Celtic Crescent, unit 3:
Features: 3-bedroom unit, carport
Outcome: sold for $645,000
Agent: Steve Hood

Epsom

1 Epsom Avenue, unit 9:
Features: 3-bedroom unit, balcony, carport
Outcome: passed in, back on market at $765,000
Agents: George Fong & Paul Sun

Mt Wellington

8 Monaco Place:
Features: 364m² section, 2-bedroom duplex unit, internal-access garage
Outcome: sold for $739,500
Agents: Margaret Johnston & Phyllis Brooks

Newmarket

9 Sarawia St, unit 405:
Features: one-bedroom apartment, carport
Outcome: passed in
Agent: Ray Qu

Remuera

171A Portland Rd, unit 2:
Features: 1/6 share in cross-lease, 2-bedroom unit, carport
Outcome: sold for $724,000
Agent: Steve Hood

Isthmus west

Mt Albert

135 Mt Albert Rd, lot 1:
Features: 368m² section, 227m² floor area, 5.2m² balcony, 5 bedrooms, 3 bathrooms, 5.2m² balcony, double internal-access garage
Outcome: no bid
Agents: Jane Wang & Angela Qi

135 Mt Albert Rd, lot 2:
Features: 369m² section, 232m² floor area, 5 bedrooms, 3 bathrooms, 9.4m² balcony, double internal-access garage
Outcome: passed in
Agents: Jane Wang & Angela Qi

135 Mt Albert Rd, lot 3:
Features: 390m² section, 222m² floor area, 5 bedrooms, 3 bathrooms, 12m² balcony, double internal-access garage
Outcome: no bid
Agents: Jane Wang & Angela Qi

135 Mt Albert Rd, lot 4:
Features: 390m² section, 220m² floor area, 5 bedrooms, 3 bathrooms, 11.5m² balcony, double internal-access garage
Outcome: no bid
Agents: Jane Wang & Angela Qi

23A Malvern Rd, units 1, 2 & 3:
Features: 1171m² section, 3 2-bedroom flats fronting Fowlds Park, , each with a carport
Outcome: no bid
Agents: Ashley Tait & Lisa Te Brake

Mt Eden

23 Fairview Avenue, unit 8:
Features: one-bedroom flat, deck, carport
Outcome: passed in, back on market at $548,000
Agent: Kun Hong    

Attribution: Company release.

Continue Reading

3 apartments sell at Ray White auctions

A Cintra apartment was sold at the pre-auction offer on Tuesday and 2 of the 3 apartments auctioned at Ray White City Apartments on Thursday were also sold under the hammer.

CBD

Learning Quarter

Cintra, 3 Whitaker Place, unit 9A:
Features: 57m², one bedroom, landing area large enough for a study, balcony, remedial plan underway
Outgoings: rates $1620/year including gst; body corp levy $4475/year
Income assessment: $440-480/week
Outcome: sold for $206,000 at auction brought to Tuesday 27 June forward from 13 July, pre-auction offer accepted
Agent: Ron Yang

Waldorf Bankside Apartments, 8 Bankside St, unit 18F:
Features: 30m², fully furnished studio, under Waldorf Hotel management until December 2018
Outgoings: rates $2724/year including gst; body corp levy $5844/year
Outcome: no bid
Agents: Ryan Bridgman & Mitch Agnew

Princeton, 30 Symonds St, unit 8H:
Features: 27m², 2 bedrooms
Outgoings: body corp levy $4577/year
Income assessment: $380-400/week furnished
Outcome: sold for $240,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Waterfront

Sebel Suites, 85 Customs St West, unit 214:
Features: leasehold, 34m² studio
Outgoings: rates $1236/year including gst; body corp levy $7272/year including $3161/year ground rent
Income assessment: $395/week fixed until August, appraisal $460-480/week furnished
Outcome: sold for $145,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Attribution: Agency release.

Continue Reading

Devonport apartment sells, mortgagee call in Kohimarama passed in

A Devonport apartment was sold at Bayleys’ North Shore residential auction last Thursday, but over in Kohimarama a 2-level apartment taken to mortgagee auction was passed in.

Isthmus east

Kohimarama

22D Hampton Drive:
Features: m², 2-level apartment with lift, 4 bedrooms, 3 bathrooms, 2 lounges, 2 parking spaces, wraparound decks on both levels, renovated & completely reclad in 2016
Outcome: passed in at mortgagee auction
Agent: Larry Sewell

North-east

Devonport

105 Victoria Rd, unit 1A:
Features: 4 bedrooms, 2 bathrooms, 2 lounges, 2 parking spaces,
Outcome: sold for $1.26 million
Agent: Patricia Hinchey

Attribution: Agency release.

Continue Reading

2 sales out of 9 auctioned as views diverge on apartment & unit market direction

2 of the 6 cbd apartments and none of the 3 suburban units auctioned at Barfoot & Thompson yesterday sold under the hammer.

The wide margin between the top bids and subsequent pricing of unsold units indicates the divergence between vendor aspirations and the direction buyers think the market is moving in.

CBD

Albert St

Manhattan, 105 Albert St, unit 11A:
Features: 80m², 2 bedrooms
Outgoings: rates $1544/year including gst; body corp levy $8035/year
Outcome: sold for $525,000
Agent: Aaron Cook

CBD east

The Beach, 85 Beach Rd, unit 506:
Features: 49m², one bedroom, balcony
Outgoings: body corp levy $3667/year
Income assessment: $460/week fixed until September
Outcome: passed in at $350,000, back on market at $479,000
Agents: Bett Shao & Rico Zhao

Learning Quarter

Silo, 23 Emily Place, unit 4L:
Features: 2-bedroom loft, secure parking space
Outgoings: body corp levy $829/year
Outcome: passed in at $500,000, back on market at $699,000
Agents: Stephen & Leo Shin

Uptown

Urba, 5 Howe St, unit 603:
Features: 55m² including balcony, 2 bedrooms
Outcome: passed in at $450,000, back on market at $625,000
Agent: Stephen Chang

Victoria Quarter

Heritage Farmers, 35 Hobson St, unit 628:
Features: 32m² air-conditioned studio
Outgoings: body corp levy $1833/year
Outcome: sold for $255,000
Agent: Livia Li

Imperial Gardens, 135 Hobson St, unit 218:
Features: 2 bedrooms, storage locker, parking space
Outcome: auction postponed until 29 June
Agents: Wendy Feng & Jack Li

Isthmus east

Onehunga

97J Mays Rd:
Features: 2-bedroom unit, garage
Outcome: withdrawn from auction
Agents: Paula Boontueng & Young Kim

Isthmus west

Eden Terrace

Fleetwood, 19 Fleet St, unit C6:
Features: 95m², 2 bedrooms, separate dining & living spaces, deck, storage unit, covered parking space, post-remediation code compliance certificate issued April 2016
Outgoings: body corp levy $3982/year
Outcome: passed in at $650,000, back on market at $719,000
Agents: Zoran Farac & Stephen Shin

Mt Albert

51 Seaview Terrace:
Features: cross-lease, quarter share in 1195m², 60m² one-bedroom unit, deck, carport
Outcome: no bid
Agents: Samantha Chaudhry & Leo Perera

Sandringham

22 Coyle St, unit 3:
Features: 2-bedroom unit, garage
Outgoings: body corp levy $789/year
Outcome: passed in at $825,000
Agent: Helen Lam

North-west

Glendene

33 Butterworth Drive, unit 1:
Features: cross-lease, half share in 616m², 2-bedroom unit, study, garage
Outcome: no bid
Agent: Tristan Young

Attribution: Auctions.

Continue Reading

2 sell, and then the auction success stopped

A leasehold unit in the Scene 2 apartment block on the eastern fringe of the Auckland cbd and a unit up the hill in the Quadrant sold at Ray White City Apartments’ auction yesterday, and then the other 5 on the auction list were passed in.

Those not sold included 2 units in the new Ramada Suites across the road from the park-&-ride at the Albany bus station, and a unit in City Gardens, where work is yet to start on a remediation project.

CBD

Albert St

City Gardens, 76 Albert St, unit 9F:
Features: 59m², 2 bedrooms, balcony, remediation programme still to be undertaken
Outgoings: rates $1227/year including gst; body corp levy $3706/year
Income assessment: $360/week current
Outcome: passed in at $360,000
Agent: James Mairs

Learning Quarter

Pinnacle, 18 St Martins Lane, unit 1401:
Features: 69m² unfurnished sub-penthouse, 2 bedrooms, balcony, parking space
Outgoings: no rates assessment yet; body corp levy $4416/year
Income assessment: $650-680/week furnished
Outcome: sole bid was $650,000 from vendor as an indicator, passed in
Agents: May Ma & Mark Li

The Quadrant, 10 Waterloo Quadrant, unit 1014:
Features: 32m², one bedroom, balcony, parking space on separate title, unit out of the hotel pool & vacant
Outgoings: rates $1173/year including gst for unit, $127/year for parking; body corp levy $3687/year for unit, $1166/year for parking
Income assessment: $500-550/week furnished
Outcome: sold for $463,000
Agents: May Ma & Mark Li

Cintra, 3 Whitaker Place, unit 17C:
Features: 57m², one bedroom,
Outgoings: rates $1797/year including gst; body corp levy $5114/year
Income assessment: under Crown on Cintra Lane hotel management, appraisal $480-520/week furnished
Outcome: passed in at $210,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Quay Park

Waldorf on Scene, Scene 2, 18 Beach Rd, unit 1406:
Features: leasehold, 75m², 2 bedrooms, parking space
Outgoings: rates $1683/year including gst; body corp levy $5285/year, ground lease $7249/year
Outcome: sold for $201,000
Agent: James Mairs

North-east

Albany

Ramada Suites, 254 Cornerstone Drive, unit 205:
Features: 34m², one bedroom, parking space
Outgoings: no rates assessment yet; body corp levy $1791/year
Outcome: passed in at $335,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Ramada Suites, 254 Cornerstone Drive, unit 301:
Features: 74m², 2 bedrooms, 2 bathrooms, parking space
Outgoings: no rates assessment yet; body corp levy $3180/year
Income assessment: vacant
Outcome: passed in at $610,000
Agents: Simon Harrison, Damian Piggin & Daniel Horrobin

Attribution: Auction.

Continue Reading

3 intensive homes sell at auction

3 of 8 intensive suburban homes – units, townhouses & cross-leases – were sold at Barfoot & Thompson’s city auctions yesterday. Of the total 20 residential properties on offer (including standalone homes), 5 were sold.

Isthmus east

Mt Wellington

80 Banks Rd, unit 4:
Features: cross-lease, 1/6 share in 2612m², 4 bedrooms, garage
Outcome: passed in at $700,000
Agent: Hamish Hargrave

56 Ferndale Rd, unit 9:
Features: 2-bedroom unit, storage shed, carport
Outgoings: body corp levy $2108/year
Outcome: no bid
Agents: Jane Wang & Angela Qi

51 Ireland Rd, unit 20:
Features: 2-level 2-bedroom townhouse, study, offstreet parking
Outgoings: body corp levy $2773/year
Outcome: sold for $570,000
Agent: Sue Su

5 Lynton Rd, unit 4:
Features: cross-lease, quarter share in 1052m², 2-bedroom unit, carport
Outcome: no bid
Agents: Rain Diao

Parnell

65 Gibraltar Crescent:
Features: 3-bedroom townhouse, 2.5 bathrooms, double internal-access garage
Outcome: no bid
Agent: May Zhang

Remuera

10 Ingram Rd:
Features: cross-lease, half share in 807m², 4 bedrooms, double internal-access garage
Outcome: passed in at $1.96 million
Agents: Cici Wang & Carey Liu

Isthmus west

Grey Lynn

2A Wilton St:
Features: 2-level 2-bedroom unit, offstreet parking
Outcome: sold for $880,500
Agent: André Boddé

Mt Roskill

2 Fearon Avenue, unit 2:
Features: 2-bedroom unit, conservatory, carport
Outcome: sold for $652,000
Agents: Jim Liu & Cicy Zhu

Attribution: Auctions.

Continue Reading

3 ex-Masala restaurants nearly make $8 million forfeiture order price tag at auction

3 restaurants in the former Masala chain were sold for $7.875 million at Bayleys’ auction yesterday, just short of a forfeiture order made in February.

Image above: Dining room of the former Masala restaurant in Mt Eden.

A Glen Eden shop with the Mad Butcher as tenant and a Dilworth apartment at the foot of Queen St were also sold under the hammer.

The restaurants, owned by JKK Holdings Ltd (Supinder Singh & Daisy Kaur) were taken to auction by the Official Assignee under the Criminal Proceeds (Recovery) Act after Justice Rebecca Edwards agreed in the High Court to an $8 million assets forfeiture order between the Commissioner of Police and 8 companies & 2 individuals associated with the Masala restaurant chain.

Justice Edwards said in her decision approving the settlement: “The settlement sum of $8 million represents almost all of the unlawful benefit said to have been derived from the tax evasion offending. The settlement sum is expected to be met in full through the sale of restrained properties.”

The 2 individuals, Joti Jain & Rajwinder Singh Grewal, were sentenced in 2015 to home detention and ordered to pay reparations on a long list of immigration & exploitation charges.

In March, Ms Jain was reported to have left New Zealand ahead of an appeal against being deported, but she was in the auctionroom yesterday.

All 3 restaurants in Mt Eden, Stanmore Bay & Birkenhead attracted multiple bidders. The properties were marketed for sale on an “as is where is” basis and subject to occupancy.

Apartments

CBD

Queen St

Dilworth, 22 Queen St, unit 5L:
Features: one bedroom, high stud
Outcome: sold for $530,000
Agents: Julie Prince & Diane Jackson

Commercial

Isthmus west

Mt Eden

510 Mt Eden Rd:
Features: 554m² section, 200m² restaurant in converted villa at corner of Disraeli St in Mt Eden village, additional 206m² downstairs area gives potential to split risk
Outcome: sold for $3.61 million on “as is where is” basis, subject to occupancy
Agents: Scott Kirk, Adam Curtis, John Algie

North-east

Birkenhead

188-192 Hinemoa St:
Features: 835m² site, development potential, 280m² restaurant in converted villa, wraparound covered deck, vacant office area below restaurant previously used as accommodation
Outcome: sold for $2.535 million on “as is where is” basis, subject to occupancy
Agents: Adam Curtis, John Algie & Damian Stephen

Stanmore Bay

195 Brightside Rd:
Features: 1783m² site, 276m² restaurant
Outcome: sold for $1.73 million on “as is where is” basis, subject to occupancy
Agents: Jeremy Milton, John Algie & Adam Curtis

North-west

Glen Eden

5 Oates Rd, unit 5:
Features: 292m² corner unit in block of 13 shops, dual access, split internally between retail, office storage, meat processing & cool storage, opportunity to split or occupy the tenancy
Rent: $92,040/year net + gst from established tenant, the Mad Butcher
Outcome: sold for $1.375 million at a 6.7% yield
Agents: Adam Curtis, Adam Watton & Oscar Kuang

Earlier story:
28 February 2017: $8 million Masala assets forfeiture agreed

Attribution: Auction.

Continue Reading

2 apartments sell at City Sales auction

An apartment in The Peaks on Victoria St (pictured) was sold under the hammer at City Sales today, and one in the Harvard on Hobson St was sold shortly after the auction. An Eden Terrace unit was passed in.

CBD

Victoria Quarter

Harvard, 147 Hobson St, unit 3I:
Features: 37m², 2 bedrooms
Outgoings: rates $1101/year including gst; body corp levy $4003/year
Outcome: passed in at $342,500, sold shortly after auction for $345,000
Agents: Habeeb Urrahman & Steve Kirk

The Peaks, 117 Victoria St West, unit 5B:
Features: 145m², 3 bedrooms, 2 bathrooms, wraparound deck, storage locker, parking space
Outgoings: rates $2292/year including gst; body corp levy $7153/year
Outcome: sold for $1.14 million
Agent: Iona Rodrigues

Isthmus west

Eden Terrace

Virginia, 43 Virginia Avenue East, unit 203:
Features: 48m², 2 bedrooms, deck, parking space
Outgoings: rates $1232/year including gst; body corp levy $4458/year
Income assessment: $475-500/week
Outcome: passed in at $460,000
Agent: Trisha Shanaghan

Attribution: Auction.

Continue Reading
WordPress Appliance - Powered by TurnKey Linux