Tag Archives | Onehunga

3 intensive suburban homes sold of 14 auctioned

3 intensive suburban homes – apartments, units & cross-leases – were sold under the hammer out of 14 auctioned at Barfoot & Thompson’s city office on Tuesday & Wednesday.

Of the 57 residential properties auctioned at 3 sessions, 20 were sold under the hammer.

Isthmus east

Mission Bay

30 Patteson Avenue, unit 3:
Features: 2-bedroom unit, garage
Outcome: passed in
Agent: Mark Edmonds

29 Tamaki Drive, unit 3:
Features: 227m², refurbished 3-bedroom apartment, 2 bathrooms, terrace, double garage
Outcome: no bid
Agent: Karin Cooper

Mt Wellington

40 Rutland Rd, unit 3:
Features: cross-lease, quarter share in 1067m², 2-bedroom unit, carport
Outcome: no bid
Agent: Sylvia Lu

Onehunga

69 Mays Rd:
Features: cross-lease, half share in 761m², 3 bedrooms,
Outcome: passed in at $860,000
Agents: Neil Dayal & Grant Rutherford

Parnell

25 Cheshire St, unit C5:
Features: one-bedroom apartment, secure internal-access parking space
Outcome: passed in
Agent: Cindy Yu

Remuera

109 Abbotts Way, unit 1:
Features: cross-lease, half share in 920m², 3 bedrooms
Outcome: sold for $1.086 million
Agent: Kelly Zhang

43A Richard Farrell Avenue:
Features: cross-lease, half share in 1042m², 2-storey 6-bedroom house, internal-access garage
Outcome: no bid
Agents: Trevor Edwards & Jacinta Kerrigan

Isthmus west

Avondale

2 Alanbrooke Crescent, unit 1:
Features: 2 bedrooms, secure parking space
Outcome: no bid
Agents: Bella Stefano & Sherry Shao

Blockhouse Bay

99 Boundary Rd:
Features: cross-lease, 1/7 share in 3980m², 3 bedrooms, patio, double internal-access garage
Outcome: sold for $861,000
Agents: Ross & Joss Goodall

80A Connell St:
Features: 3-bedroom unit, deck
Outgoings: body corp levy $2033/year
Outcome: no bid
Agent: Daryll Roberts

103A Taylor St:
Features: cross-lease, half share in 1320m², 3 bedrooms, garage
Outcome: no bid
Agent: Zaki Murumkar

Mt Eden

70B Marsden Avenue:
Features: cross-lease, half share in 1495m², 4 bedrooms, double garage
Outcome: no bid
Agent: Robert Thompson

20 Peary Rd, unit 4:
Features: cross-lease, 1/5 share in 1242m², 2-bedroom unit, garage
Outcome: sold for $730,000
Agent: Margaret Chen

Sandringham

307 Mt Albert Rd:
Features: cross-lease, half share in 842m², 3 bedrooms
Outcome: passed in at $850,000
Agent: Kelly Zhang

Attribution: Auctions.

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Committee progresses unitary plan changes, city centre masterplan, waterfront, Panuku programme, Onehunga project, land transport, northern corridor, Whenuapai, sites of significance

Auckland Council’s planning committee began its 6-hour meeting yesterday with input from advocates of no port extension into the Waitemata Harbour, and of relocating the freight operation.

Shortly after, the committee gave its support in principle to an inner dolphin off Queens Wharf as the preferred option for berthing large cruise ships.

The public input came from Shane Vuletich for Urban Auckland, Committee for Auckland & Stop Stealing our Harbour, with Richard Didsbury, Sir Stephen Tindall & Julie Stout.

But the bulk of the day’s meeting was about the “refresh” of the council’s overarching Auckland Plan, completed in 2012 and up for its first review.

The committee has held 4 workshops and had numerous presentations on the Auckland Plan, but also on various other planning documents since last October’s election.

The committee approved a streamlined approach rather than fullscale review with the intention of making the plan more strategic, integrated, focused on spatial issues, a smaller document and one that will be digitally accessible.

It approved a process of early targeted engagement with communities from May-June  on Auckland’s big issues and on the high level strategic direction of the refreshed Auckland Plan.

This article is a brief summary of matters the committee considered. I’ll write in more detail in a few days.

Other items considered:

Item 10, city centre masterplan delivery & implementation, 3 projects to be updated:

  • Victoria linear park & midtown east-west public transport
  • Quay St harbour edge boulevard & Hobson St flyover
  • Queen St, issue identification & project implications.

Item 11, Waterfront planning & implementation:

A targeted refresh of the waterfront plan is underway, focusing on development of Wynyard Pt and optimising the use of the central wharves. 

Item 12, Update on Panuku work programme:

The committee endorsed Avondale as an “unlock” location, where Panuku facilitates development opportunities for private sector investment in town centres.

A high level project plan will go to the committee later this year for approval.

Item 13, Onehunga high level project plan:

The committee adopted Panuku Development Auckland’s high level project plan for the transformation of the Onehunga town centre & surrounding area.

Item 14, Submission on draft national policy statement on land transport:

The committee approved the council’s submission.

Item 15, Northern corridor improvements project, political reference group & delegations:

The committee approved extending delegations so the reference group can provide direction & decisions on the council’s position during the board of inquiry hearing on east-west link project.

Item 19, Unitary plan (operative in part) – future plan changes and processing of private plan changes:

A report was presented on future council-initiated changes to the new unitary plan and the committee approved the criteria for dealing with private plan changes over the next 2 years.

Item 16, Draft Whenuapai plan change – approval & public engagement:

The committee approved a consultation process that will allow for the implementation of the Whenuapai structure plan, which the council approved last September. Public consultation will run from 10 April-14 May.

Item 17, Development of plan change to the unitary plan & Hauraki Gulf islands section of the district plan on sites of significance to mana whenua:

The committee gave approval for the council to engage with mana whenua & landowners on 270 nominated sites of significance to mana whenua as the next step to preparing a plan change. 

Item 18, Unitary plan, assessment of errors to produce the first 2 administrative plan changes:

The committee agreed to develop 2 administrative plan changes, one to correct errors, anomalies & technical details to the text & maps and the other to correct errors in the notable tree schedule.

Links – from committee agenda:
9, Auckland Plan refresh, engagement approach & proposed options

<ahref=”http://infocouncil.aucklandcouncil.govt.nz/Open/2017/03/PLA_20170328_AGN_6720_AT.htm#PDF2_ReportName_52321″ target=”_blank”>10, Auckland city centre masterplan (2012): Delivery & implementation, progress update
Addendum (item 11)
11, Waterfront planning & implementation
Mooring options
Inner dolphin section & plan views
12, Panuku work programme, update
13, Onehunga, high level project
14, Draft government policy statement on land transport, submission
15, Northern corridor improvements project, political reference group & delegations
16, Draft Whenuapai plan change, approval & public engagement
17, Development of plan change to unitary plan (operative in part) and the district plan (Hauraki Gulf islands section), sites of significance to mana whenua
18, Unitary plan (operative in part), assessment of errors to produce the first 2 administrative plan changes
19, Unitary plan (operative in part), future plan changes and processing of private plan changes
20, Summary of planning committee information memos & briefings
Attachment A, 2 March, Staff submission on the Telecommunication Act Review: post-2020 regulatory framework for fixed line services
Attachment B, 22 March, East-West Link, submission
Attachment C, 22 March, northern corridor improvements project, submission
Attachment D, 20 March, structure plans, memo to planning committee members
Attachment E, 15 February, future urban land supply strategy, refresh workshop documents
Attachment F, 1 March, city rail link, briefing documents
Attachment G, 1 March, Auckland Plan refresh, workshop 3 documents
Attachment H, 7 March, city-airport briefing documents (not included)
Attachment I, 10 March, central city waterfront, planning workshop documents
Attachment J, 15 March, Auckland Plan refresh, workshop 4 documents

Related story today:
Start with a figure you don’t know, then plan accordingly….

Attribution: Committee meeting, council staff report.

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Warehouse, 2 cross-leases & a multi-unit property sell

A Mt Wellington warehouse, 2 residential cross-leases and property with 4 units on the one title were sold at Barfoot & Thompson auctions over the last 2 days.

Units in City Gardens & the Celestion were passed in, one in Tower Hill was sold prior and one in the Metropolis was withdrawn from auction.

Commercial

Isthmus east

Mt Wellington

48 Elizabeth Knox Place:
Features: 1937m² section, 811m² warehouse with about 500m² of mezzanine storage, 67m² ground-floor amenities & office, 42m² mezzanine amenities
Outcome: sold for $2.15 million
Agent: Mike Jensen

Apartments

CBD

Albert St

City Gardens, 76 Albert St, unit 23A:
Features: 59m², 2-bedroom corner apartment
Outgoings: body corp levy $4518/year; special remediation levies have been paid in full and the unit has an indicative settlement share of $133,889 to cover further costs; current ballpark estimates of remediation are about $22 million including gst
Outcome: passed in, back on the market at $449,000
Agents: Livia Li & Alan Guo

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1010:
Features: one bedroom
Outgoings: body corp levy $4072/year
Outcome: withdrawn from auction
Agent: Paul Neshausen

Learning Quarter

Celestion, 19 Anzac Avenue, unit 302:
Features: 56m², air-conditioned 2-bedroom apartment, 11m² balcony
Outgoings: body corp levy $4284/year
Outcome: passed in
Agent: Jason Buckwell

Tower Hill, 1 Emily Place, unit 10C:
Features: 2 bedrooms, parking space, storage locker
Outcome: sold prior
Agent: Aaron Cook

Isthmus east

Grafton

31 Boston Rd:
Features: 151m² 4-bedroom apartment, mezzanine lounge, private courtyard; 112m² 2-bedroom apartment, balcony; 87m² 3-room office space; 158m² warehouse, 7 offstreet parking spaces; total 530m²
Outcome: auction postponed until Thursday 9 March at 10am
Agents: Ross & Joss Goodall

Mission Bay

63 Selwyn Avenue, unit 5:
Features: cross-lease, 1/6 share in 1038m², 2-bedroom unit, carport
Outcome: sold for $696,500
Agents: Jane & David Wang

Mt Wellington

36A Harding Avenue:
Features: 1149m² section, 4 one-bedroom units on one title, 4 carports
Income assessment: $66,560/year appraisal in present condition
Outcome: on the market at $1.21 million, sold for $1.76 million
Agent: Rain Diao

Onehunga

95N Mays Rd:
Features: 80m² 2-bedroom terrace, patio, 2 parking spaces
Outgoings: body corp levy $561/year, but $66,792 in special remediation levies was raised last year, estimated to be 60% of remediation costs; the body corporate has a claim before the Weathertight Home Resolution Service
Outcome: passed in, back on market at $598,000
Agents: Su Ma & Hattie Huo

Parnell

15 Augustus Terrace, unit 2C:
Features: one bedroom, parking space, storage unit
Outcome: no bid, back on market at $495,000
Agents: Jill Jackson & Emma John

25 Cheshire St, unit A3:
Features: one-bedroom apartment, balcony, tandem parking
Outgoings: body corp levy $4296/year
Outcome: no bid
Agents: Michael & Tatyana Ataman

Isthmus west

Avondale

6 Elm St:
Features: 1012m² section, 3-bedroom villa & adjoining 12-bedroom extension, 2 bathrooms, 3 living areas, 6 offstreet parking spaces
Outcome: no bid, back on market at $1.999 million
Agent: Jason Li

Grey Lynn

34 Prime Rd:
Features: cross-lease, half share in 617m², 5-bedroom bungalow, 2 bathrooms, 2 parking spaces
Outcome: auction brought forward after $1.52 million offer was acceptable, sold under the hammer for $1.647 million
Agents: Repeka Lelaulu

South

Pakuranga

25 Pandora Place:
Features: 726m² section, 2 one-bedroom units & one 2-bedroom unit, garage, 2 carports, 3 other parking spaces
Outcome: passed in
Agent: Rain Diao

Attribution: Auction.

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Central apartments, suburban townhouses & development site sell

2 central city apartments, 2 on the fringes, 4 suburban units and a development site sold under the hammer at Bayleys auctions around the region in the last week.

The development site at Royal Oak has a recently renovated house on it, but the section has been rezoned business – town centre, making change likely.

Both central city apartments are on Anzac Avenue, one at No 105 and the other in the Harbour Royal at No 88.

CBD

Learning Quarter

Harbour Royal, 88 Anzac Avenue, unit 8C:
Features: 2-bedroom apartment, covered parking space
Outcome: sold for $740,000
Agents: Murray Savage & Tina Chang

105 Anzac Avenue, unit 2C:
Features: 97m², 2-bedroom apartment, 2 bathrooms, tiled conservatory, enclosed balcony, secure parking space, storage locker
Outgoings: rates $1848/year including gst; body corp levy $5139/year
Outcome: sold for $692,000
Agent: Paul Sissons

Isthmus east

Epsom

16A Greenfield Rd:
Features: 3-bedroom townhouse, 2 bathrooms, double carport
Outcome: sold for $1.15 million
Agent: Glenn Baker

Onehunga

15 Bond Place:
Features: 449m² freehold section, 2-level 2013 townhouse, 4 bedrooms, 3.5 bathrooms, deck & garden, double internal-access garage
Outcome: sold for $1.02 million
Agent: Lindy Lawton

Parnell

Brighton Gardens, 10 Brighton Rd, unit 2:
Features: 2-bedroom apartment, 2 bathrooms, parking space
Outgoings: rates $2844/year including gst
Outcome: sold for $985,000
Agent: Chris Reeves

Remuera

15B Chatfield Place:
Features: 3-bedroom townhouse, 2 bathrooms, 2 parking spaces, full cavity system
Outcome: sold for $1.55 million
Agent: David Nightingale

Royal Oak

697 Mt Albert Rd, lot 1:
Features: 115m² house on 685m² section now zoned business – town centre, 4 bedrooms, carport
Outcome: sold for $1.2 million
Agent: Andrew Rumbles

Isthmus west

Ponsonby

Pulse, 80 Richmond Rd, unit 3T:
Features: one-bedroom apartment, balcony, secure parking space
Outcome: sold for $485,000
Agents: Luke McCaw & Andrea Ritchie

North-east

Browns Bay

766 Beach Rd, unit 2:
Features: 2-bedroom unit
Outcome: sold for $650,000
Agents: Angeline Wong & Annette Lum

Attribution: Auctions roundup.

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$500 bids end in $100k raise on acceptable sale price

Small steps can make a journey last a long time, as 3 bidders at Barfoot & Thompson’s apartments auction found this morning.

2 bidders at a time – one joined in and one of the first 2 pulled out – they were chasing a 3-bedroom suburban unit in Onehunga (pictured above). It was taken to what’s called a pre-auction auction – an offer has been deemed acceptable to the vendors but it still goes to auction, brought forward. Bidding started slowly, and in low rises, mostly of $500. It took half an hour, but the price crept up to $101,000 above the acceptable offer before the second bidder gave in.

Another pre-auction property was sold at a slight rise and an uptown apartment was sold on the sole bid.

CBD

Learning Quarter

The Statesman, 1 Parliament St, unit 8:
Features: 93m², 2 bedrooms, parking space
Outgoings: rates $2241/year including gst; body corp levy $4975/year
Outcome: withdrawn from auction
Agents: Stephen Shin & Rhys Chen

Uptown

The Chatham, 70 Pitt St, unit 705:
Features: 72m², 2-bedroom corner apartment, 2 bathrooms, balcony, storage locker, secure parking space
Outgoings: body corp levy $6486/year
Outcome: sold for $750,000, the only bid
Agents: Mike Campbell & Grant Elliott

Victoria Quarter

Marina Park, 146 Fanshawe St, unit 32:
Features: 40m², one bedroom, parking space
Outgoings: body corp levy $3237/year
Outcome: no bid, back on market at $459,000
Agents: Stephen Shin & Zoran Farac

Isthmus east

Onehunga

Norfolk Rise, 110E Grey St:
Features: 3 bedrooms, carport
Outgoings: body corp levy $1195/year
Outcome: taken to auction early after offer of $685,652 was acceptable, sold for $787,500 after a half hour of raises, mostly in $500 steps
Agents: Wayne & Lisa Parfitt

Isthmus west

Eden Terrace

43 Virginia Avenue East, unit 303
Features: 2 bedrooms, 2 parking spaces
Outgoings: body corp levy $5145/year
Outcome: no bid, back on market at $599,000
Agents: Stephen Shin & Zoran Farac

North-east

Devonport

17A Church St, unit 3:
Features: cross-lease, 1/8 share in 1846m², 2 bedrooms, 2 storage sheds, offstreet parking
Outcome: taken to auction early after offer of $905,000 was acceptable, sold for $920,000
Agents: Linda Simmons & Jacquie McDonald

Attribution: Auction.

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Commercial building & 3 apartments sell

A commercial building in Onehunga and 3 of the 6 apartments auctioned at Barfoot & Thompson yesterday were sold under the hammer.

Image above: View from the unit in the Endeans building at the foot of Queen St.

Commercial

Isthmus east

Onehunga

1 Paynes Lane:
Features: 337m² site next to Dress-smart, 360m² building on 2 levels, showroom, carpark; zoning allows building up to 27m
Outcome: sold for $1.4 million
Agents: James Marshall & Nick Wilson

Apartments

CBD

Learning Quarter

Celestion, 19 Anzac Avenue, unit 302:
Features: 2 bedrooms, balcony
Outcome: auction postponed
Agent: Jason Buckwell

Queen St

Endeans, 2 Queen St, unit 3C:
Features: 115m², 2 bedrooms, lounge, 3.75m ceilings, parking space
Outgoings: body corp levy $609/year
Income assessment: $/week
Outcome: sold for $1.79 million
Agent: Liz Derbyshire

Victoria Quarter

Grand Chancellor, 1 Hobson St, unit 411:
Features: furnished studio, deck
Outgoings: body corp levy $2336/year
Income assessment: $/week
Outcome: sold for $366,000
Agent: Aaron Cook

City Oaks, 188 Hobson St, unit 803:
Features: leasehold stratum, 20-year lease from December 2005, fully furnished 2 bedrooms, balcony, parking space
Outcome: passed in at $450,000
Agents: John Zhang & Richard Tan

Ascent, 149 Nelson St, unit 623:
Features: 2 bedrooms, balcony, parking space
Outgoings: body corp levy $3894/year, remediation & related litigation ongoing
Outcome: no bid
Agent: Sihem Labidi

Fiore 2, 168 Hobson St, unit 605:
Features: 46m², one bedroom, balcony
Outgoings: body corp levy $2958/year
Outcome: passed in at $420,000
Agents: Annie Xu & Sean Zhang

Isthmus west

Eden Terrace

Parkview Residences, 15 Rendall Place, unit 101:
Features: 2 bedrooms, balcony, 2 parking spaces, storage locker
Outgoings: body corp levy $4234/year
Outcome: sold for $843,000
Agents: Alastair Brown & Hayley Sok

Attribution: Auction.

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East-West: Change is looming closer

The East-West Link, to me, is more important than Waterview, the giant infrastructure project which precedes it and will contribute to the need to hasten it.

The East-West Link’s primary role is to ease traffic congestion in area which long ago was made the backside of the Auckland isthmus.

Image above: NZTA’s East-West Link perspective last year.

Out the back, away from the glistening Waitemata Harbour, Auckland had its first industrial heartland. The city abattoir at Westfield and the Southdown freezing works nearby towards Mt Wellington were both sited on the Mangere Inlet, a tidal corner of the Manukau Harbour. The railway workshops were nearby at Otahuhu.

Workers lived in nearby suburbs, and many still do. Swing into the 1980s and the advent of Japanese car imports, and cheaper personal transport meant workers could live further afield.

But the old industries died or moved out – one by one the railway workshops around the whole country died, the meatworks beside the harbour closed and were replaced by cleaner industries, or by warehousing.

But freight still clogs that industrial heartland of Penrose through Onehunga to the west, across Mt Wellington to the east.

I went to a presentation in Onehunga last week on the East-West Link, where various participating experts said their piece and the public were invited to add their views and ask questions. A turnout of about 250 was impressive, points were made politely although there was plainly frustration at the long time coming to any solution and the general impression that the transport engineers’ solution will not be the one the community wants.

The presentation evening was called by the Maungakiekie-Tamaki Local Board and most of the presentations were about place. In those circumstances, NZ Transport Agency principal transport planner Scott Wickman was never likely to win a popularity contest.

There are 2 sides to this project and they don’t mix, or haven’t yet. Under the normal rules of New Zealand planning combat, one side will win and the other side will remain forever disgruntled. The tendency is for authority to win by riding roughshod over less resourced opponents, though defeat of the Basin Reserve flyover project in Wellington shows it’s not always one-sided.

On my occasional dips into the subject of the backside of Auckland, there is always a clear focus which excludes other views – not just alternatives, but all other perspectives. The starting point is to improve access for freight, both in & out. Oh, that’s also the finishing point.

It seems, to me, that this is the perfectly wrong starting point. First, you need to ask why these businesses are where they are, and then, is that the best place for them to be?

At Onehunga, the community is used to being pushed around, so many of its representatives are used to looking at proposals from different angles to see where they might fit in.

After my first 2 questions comes a big batch of related questions relating to freight:

How & where should freight arrive/depart Auckland?

How should it be dispersed?

That leads to questions about where industry should be, how people should get to work, whether the inner Manukau Harbour should have houses along its edge just like many other spots around its shoreline do…

And it leads to the roles of the 2 ports, on the Waitemata and the Manukau, plus the airport at Mangere. The map below shows  current transport infrastructure projects around Auckland, including East-West, and key access modes. The important aspects are the links between them – and how they fit into community aspirations.

But back to Onehunga and the proposed new freight route through it. The NZ Transport Agency lodged its application for 2 notices of requirement & 23 resource consents with the Environmental Protection Authority on 16 December, and the authority accepted the application as complete on 22 December.

The next step is for the Minister for the Environment and the Minister of Conservation to direct whether the proposal is nationally significant and whether to refer it to a board of inquiry, the Environment Court or Auckland Council for consideration & a decision.

Mr Wickman told the Onehunga community on Thursday the transport agency had anticipated that the Environmental Protection Authority would work on a timetable of receiving submissions late this month into early March and, assuming a green light following a mid-year hearing, the agency could start construction next year for completion in 2022-23.

I’ll come back this week with some of the detail from last week’s presentations, followed by more detail ideas on access, property impacts – and where the freight & community aspirations can fit together.

Links:
NZ Transport Agency, East-West Link
Environmental Protection Authority, East-West Link
Auckland Transport, East-West Link
TOES (The Onehunga Enhancement Society)
Onehunga Business Association

Attribution: Presentations, NZTA, EPA.

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4 commercial sales on isthmus & Airport Oaks

Bayleys agents have sold 3 business premises in Greenlane, Onehunga & Penrose on the isthmus and another at Airport Oaks.

Isthmus east

Greenlane

G1/G2, 93-95 Ascot Avenue:
Features: 435m2 of ground-floor office space, substantial fitout, in Ascot Business Park adjacent to Greenlane roundabout, previously used as medical premises, 10 parking spaces
Outcome: sold vacant for $2.1 million (at 7.4% yield on previous rental)
Agents: Gordon Gibson & Matt Gordon

Onehunga

51-53 Church St & 2 Fleming St:
Features: 894msite zoned mixed use, 609m2 industrial building, vendor to repaint & recarpet
Outcome: sold vacant for $2.2 million
Agent: James Valintine

Penrose

39 Station Rd (pictured):
Features: 822m2 site, 413m2 single-level retail building occupied by NZ Post/Kiwibank on a lease until August 2018, one 3-year right of renewal, 7 parking spaces
Rent: $63,000/year net
Outcome: sold vacant for $1.185 million at a 5.32% yield on present rent
Agents: Cameron Melhuish & Andrew Wallace

South

Airport Oaks

77 Aintree Avenue:
Features: 3000msite, 900m2 childcare centre, 12-year lease to Bright Sparks Childcare Ltd from January 2008, 2 6-year rights of renewal
Rent: $275,236/year net + gst
Outcome: sold for $4.37 million at 6.25% yield
Agent: Mark Pittaway

Attribution: Agency release.

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3 auction sessions, 4 sales

12 homes were auctioned for 4 sales at Barfoot & Thompson’s city office this week, short of an active audience each time.

On Wednesday: 8 homes, 3 sold at auction. 2 units on cross-leases, 6 standalone houses.

This morning: One CityLife apartment, a 29-minute auction with little bidding and resulting in sale at a price the vendor had been offered over 3 months ago. It was also the same price as an identical unit 6 storeys up the building was sold for at auction last September. After stalling at $415,000, it was declared on the market and sold after a quick series of $500 raises.

This afternoon: 2 cross-leased suburban units & a house, one of the units sold.

My focus

I report on the general residential auctions primarily from an intensification perspective – apartments as an investment sector, which they largely still are, but last year I added details of cross-leases to these reports because the cross-lease seems both a way of intensifying land coverage and raising land prices while making it harder to extend more intensive uses such as apartment blocks.

Looking at yesterday’s selection of 8 properties, you will see 2 suburban units, one in a single-storey block, the other 2 storeys, effectively “sausage blocks” but on cross-leases.

2 of the houses are on very small sections – 300m² & 344m², and another sits on 475m², all heading towards the modern section of 2-300m², which limits both storage & building expansion.

2 were in the range of the traditional quarter or fifth of an acre (1012 or 809m²), which are often regarded these days as development prospects and priced on that basis. And those land prices vary widely, at yesterday’s auction from about $700/m² up to $4800/m² (ignoring the value of improvements), the differences depending on the suburb they’re in.

Little of that has the young owner-occupier as the next buyer, which means suburban infill will continue as it’s been happening for the last 30 years. If the courts confirm the unitary plan provision of the ability to intensify over a wide swathe of Auckland suburbia, more intensive infill will speed up, competing at times with larger development proposals.

CBD

Queen St

CityLife, 171 Queen St, unit 1310:
Features: 48m², fully furnished one-bedroom apartment
Outgoings: body corp levy $5922/year
Outcome: sold for $420,000
Agents: Livia Li & Alan Guo

Isthmus east

Ellerslie

9 Arron St:
Features: 300m² section, 3-bedroom bungalow, basement storage, garage
Outcome: passed in at $1.1 million
Agents: Di Lynds & Leonie Stabler

16 Lonsdale St, unit 1:
Features: cross-lease, 1/6 share in 1992m², 2 bedrooms, 2 bathrooms, internal-access garage
Outcome: sold for $925,000
Agents: Debbie-Lee Wallace

Epsom

149A The Drive:
Features: 344m² section, 4-bedroom house, office, covered deck, garage
Outcome: sold for $1.65 million
Agents: George Fong & Laura McAuley

Onehunga

181A Arthur St, unit 1:
Features: cross-lease, 1/5 share in 1844m², renovated ex-state house duplex, 2 bedrooms, deck
Outcome: no bid
Agents: Elvira Abdrazakova

Isthmus west

Hillsborough

40 Aldersgate Rd:
Features: 690m² section, 5 bedrooms, 4 bathrooms, study, patio, double carport, pool, overlooking Manukau Harbour
Outcome: no bid
Agent: Helen Lam

Mt Eden

5 Atanga Avenue:
Features: 531m² section, 3-bedroom house, study, internal-access garage
Outcome: passed in at $2.125 million
Agents: Frank Excell & Ketiesha Elliott

91 Valley Rd, unit 2:
Features: cross-lease, 1/5 of 999m², 2-bedroom unit, garage
Outcome: no bid
Agents: Frank Excell & Ketiesha Elliott

Mt Roskill

20 Gilletta Rd:
Features: 475m² section, 3-bedroom bungalow, deck
Outcome: sold for $875,50
Agents: Kevin He & Gail Beaton

New Windsor

160 Methuen Rd:
Features: 911m² section, 3-bedroom house
Outcome: no bid
Agent: Kelly Zhang

Sandringham

255 Balmoral Rd, unit 6:
Features: cross-lease, 1/6 of 911m², 2-bedroom unit, garage
Outcome: sold for $702,000
Agents: Leonie Stabler & Di Lynds

North-west

New Lynn

6 Cutler St:
Features: 1115m² section, 4-bedroom house, basement garage, storage
Outcome: passed in at $800,000
Agent: Jennifer Peary

Attribution: Auctions.

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2 Mt Wellington properties & one on Onehunga Mall sold

Bayleys agents have sold 2 Mt Wellington properties, one a refurbished industrial building on a leaseback, the other a vacant warehouse. An Onehunga Mall commercial building with a mix of tenants has also been sold and a Penrose warehouse & showroom leased.

Sales

Isthmus east

Mt Wellington

4-6 Dryden Place:
Features: 2100m2 site zoned light industry, refurbished 1174m2 industrial building – warehouse 878m2, office 296m2, leaseback to Connexwire until June 2027 with annual rent reviews to CPI, minimum 2%, plus 2 4-year rights of renewal
Rent: $183,220/year net + gst
Outcome: sold for $3.325 million at a 5.5% yield
Agents: James Valintine & Sunil Bhana

173 Marua Rd:
Features: 875msite, 383m2 1980s warehouse
Outcome: sold vacant for $1.45 million
Agent: James Valintine

Onehunga

133 Onehunga Mall:
Features: 658msite, 782m2 1960s commercial building, 4 retail occupants and church tenancy at rear, on 3- to 5-year leases, 170 m2 of vacant second-floor office space
Rent: $115,100/year net + gst
Outcome: sold for $2,205,786 at a 5.61% yield
Agents: Greg Hall, James Valintine & Tony Chaudhary

Lease

Isthmus east

Penrose

24 Greenpark Rd, unit 1:
Features: 926m2 industrial building – warehouse 627m2, office 172m2, showroom 127m2, 11 parking spaces, 5-year lease term & one 5-year right of renewal
Rent: $159,000/year net + gst with fixed 2-yearly increases of 4%
Agent: James Hill

Attribution: Agency release.

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