5 properties sold at Bayleys’ Total Property auction in Auckland yesterday and 6 were passed in. The auction of a Henderson property was postponed and a leasehold ground rent in Penrose was withdrawn.
Isthmus east
Epsom
349 Manukau Rd, unit 1A:
Features: 94m² self-contained commercial unit, recessed double-door entry, open retail area, allocated secure parking spaces at rear; Ray White Epsom occupies this & adjoining unit, but will vacate unit 1B by 3 August
Rent: rent on both the 2 units $76,300/year net + gst + outgoings
Outcome: sold for $877,000
Agents: Oscar Kuang & James Chan
349 Manukau Rd, unit 1B:
Features: 86m² self-contained commercial unit, recessed double-door entry, open retail area, allocated secure parking spaces at rear
Outcome: sold for $680,000
Agents: Oscar Kuang & James Chan
Onehunga
100 Princes St:
Features: 1067m² site, floor area 911m², 2 tenancies, new lease terms of 4 & 6 years, seismic rating 70% new building standard
Rent: $107,500/year net + gst
Outcome: passed in at $1.92 million
Agents: Michael Nees & James Valintine
Otahuhu
78 Station Rd:
Features: vacant 864m² site, 764m² warehouse, office, mezzanine, secure yard & parking
Outcome: passed in at $1.2 million
Agents: Karl Price & Nick Bayley
Penrose
3 Southdown Lane:
Features: 1811m² site, 970m² industrial unit, up for auction was to be the annual leasehold ground rent, 21-year lease term, perpetually renewable lease subject to 7-yearly reviews (most recent was in 2016); property comprises standalone industrial building, 2 office levels, 753m² warehouse; reserve was to have been $53,600/year, buyer also would be required to pay $730,000 for improvements
Outcome: withdrawn from auction
Agents: Ben Bayley & James Valintine
Isthmus west
Eden Terrace
159 Symonds St:
Features: 120m² retail unit occupied by Gorilla Kitchen Ltd, recent renovation included kitchen & shop fitout, 4-year lease from June 2018, 1 4-year right of renewal
Rent: $50,000/year gross + gst
Outcome: passed in at $740,000
Agents: Owen Ding & James Chan
Grey Lynn
68A & 68B Ponsonby Rd:
Features: combined 44m², 2 units with inter-tenancy walls removed, 6-year lease, 4 secure parking spaces
Rent: $47,708/year net + gst
Outcome: sold for $838,000
Agents: Tony Chaudhary, Amy Weng & Phil Haydock
North-east
Wairau Valley
89 Ellice Rd, unit 6A:
Features: 125m² industrial unit built by Kea Developments Ltd, tenanted but opportunity for owner to occupy from first quarter 2020, 2 parking spaces
Rent: $32,201/year net + gst, 12-month lease from 25 April
Outcome: sold for $585,000
Agents: Oscar Kuang & Nicky Joyce
North-west
Henderson
192 Universal Drive, part unit 1C:
Features: 44m², ground-floor retail unit in Lincoln North Shopping Centre, resource consent in place for food operators
Outcome: auction postponed
Agents: Beterley Pan & Nicolas Ching
South
Howick
2 Fencible Drive, unit 1:
Features: m², long-term tenant has renewed lease early, 4 covered & secure parking spaces
Rent: $130,989/year net + gst, rising to $135,000/year net + gst in November
Outcome: passed in at $1.95 million
Agents: Dave Stanley & Geoff Wyatt
Manukau
503 Great South Rd:
Features: 809m² site, 276m² floor area, zoned residential mixed housing suburban, occupied by physio for over 20 years – reception, consulting rooms & rehab gym
Rent: $75,000/year net + gst + outgoings
Outcome: sold for $1.31 million
Agents: Ben Bayley, Janak Darji & Tony Chaudhary
Papatoetoe
328 Great South Rd:
Features: 1307m² site, dual access, zoned business town centre, refurbished in 2018, seismic rating 85% new building standard; floor area 1000m² – ground floor 874m² comprising retail, rear workshop, 7 storage units, 27 parking spaces
Rent: holding rent $150,000/year net + gst
Outcome: no bid
Agents: Matt Lee, Tony Chaudhary & James Chan
Pukekohe
51 Twomey Drive:
Features: 841m² site, 234.6m² floor area, childcare centre licensed for 40 children, 9 parking spaces
Rent: $92,720/year net + gst
Outcome: passed in at $1.5 million
Agents: Shane Snijder & Peter Migounoff
Attribution: Auction.
