Archive | Quay Park

Studio pushes to new price level in resale as buyers put pressure on other reserves

3 of the 9 apartments auctioned at Ray White City Apartments yesterday – in 96 on Symonds, the Sapphire & Siena Terraces – were sold under the hammer.

Bidding on the studio in 96 on Symonds (pictured above) ended $31,000 above the price the owner paid at auction just 5 months ago. A number of other traders expressed surprise at the $12,056/m² price paid in June, although units smaller than the minimum that can be built these days often command higher price tags for their superior anticipated cashflow. This sale lifts the price/m² to $13,778.

Bidding on 2 units in the leasehold Landings complex beside the old Auckland railway station, and in the Manhattan on Albert St, fell about $20-30,000 short of adjusted reserves yesterday.

CBD

Albert St

Manhattan, 105 Albert St, unit 5C:
Features: 80m², 2 bedrooms,
Outgoings: rates $1749/year including gst; body corp levy $5122/year including gst
Income assessment: $560/week, fixed unril 12 December
Outcome: passed in at $571,000
Agents: Ron Yang & Adam Gurr

Learning Quarter

96 on Symonds, 96 Symonds St, unit 1004:
Features: 18m² refurbished studio
Outgoings: rates $975/year including gst; body corp levy $2453/year including gst
Income assessment: $370-390/week
Outcome: bought for $217,000 at auction in June, passed in at $248,000
Agents: Dominic Worthington & Ady Huang

Sapphire, 76 Wakefield St, unit 810:
Features: 53m² + 6m² balcony, 2 bedrooms,
Outgoings: rates $1478/year including gst; body corp levy $4061/year including gst after 10% prompt payment discount
Income assessment: $500/week
Outcome: sold at pre-auction offer of $485,000
Agent: Lucia Gao

Quay Park

The Landings, 8 Ronayne St, unit 810:
Features: 71m², 3 bedrooms, 2 bathrooms, parking space; building has new code compliance certificate after remediation
Outgoings: rates $1633/year including gst; body corp levy $5548/year opex including gst, ground rent $7976/year
Income assessment: $680/week, fixed until March 2019
Outcome: passed in at $270,000
Agents: Dominic Worthington & Ady Huang

The Landings, 10 Ronayne St, unit 415:
Features: 47m² + 8m² balcony, 2 bedrooms, parking space
Outgoings: rates $1323/year including gst; body corp levy $3118/year opex including gst, ground rent $4482/year
Income assessment: $500/week, fixed until August 2019
Outcome: passed in at $204,000
Agents: Mitch Agnew & Ryan Bridgman

Uptown

SkyView, 7 Scotia Place, unit 8C:
Features: 71m², new 2 bedrooms, parking space
Outgoings: rates $1904/year including gst; estimated body corp levy $4399/year including gst
Income assessment: $750-800/week furnished
Outcome: passed in at $600,000
Agents: May Ma & Mark Li

Bianco off Queen, 2 White St, unit 12B:
Features: 57m², one bedroom, under hotel management, building has remediation issues
Outgoings: rates $6571/year including gst; body corp levy $2216/year opex including gst + special levy $5192
Income assessment: $800/week
Outcome: passed in on sole bid of $60,000
Agents: Ron Yang & Adam Gurr

Victoria Quarter

Altitude, 34 Kingston St, unit 5L:
Features: 27m², one bedroom
Outgoings: rates $1013/year including gst; body corp levy to be confirmed
Income assessment: $340/week
Outcome: passed in at $205,000
Agent: Damian Piggin

Ascent, 149 Nelson St, unit 303:
Features: one bedroom
Outcome: withdrawn from auction
Agent: Damian Piggin

Isthmus west

Grey Lynn

Siena Terraces, 6 Burgoyne St, unit 2N:
Features: 51m², one bedroom, balcony, tandem parking spaces
Outgoings: rates $1321/year including gst; body corp levy $3769/year including gst
Outcome: sold for $490,000
Agents: Judi & Michelle Yurak

Attribution: Auction.

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Perspective apartment sells post-auction

An apartment in Perspective on College Hill (pictured above) was sold shortly after today’s auction at City Sales. 3 other units – one cross-leased, one on Ngati Whatua leasehold and an apartment in the 2-year-old Urba off Karangahape Rd – were all passed in.

CBD

Learning Quarter

Century on Anzac, 100 Anzac Avenue:
Features: 2 bedrooms, 2 bathrooms, parking space
Outcome: auction postponed
Agents: Grant Elliott & Tony Kelly

Quay Park

30 Cotesmore Way:
Features: 115m², 3 bedrooms, 2 bathrooms, deck, tandem garage; code compliance certificate issued in 2015 after complete reclad & roof reconstruction
Outgoings: rates $2195/year including gst; body corp operational levy $3224/year including gst, ground lease $17,500/year, new Ngati Whatua o Orakei Trust ground lease will date from 2 August but hasn’t been agreed yet
Income assessment: $775/week
Outcome: no bid
Agents: Maryanne Wong & Scott Dunn

Uptown

Urba, 5 Howe St, unit 615:
Features: 42m², one bedroom + flexi-room, deck
Outgoings: rates $1398/year including gst; body corp levy $3933/year including gst
Income assessment: $490/week, fixed until May 2019
Outcome: passed in at $300,000
Agents: Trisha Shanaghan & Gus Argyle

Isthmus west

College Hill

Perspective, 28 College Hill, unit 425:
Features: 140m², 2 bedrooms, 2 bathrooms, deck, 2 parking spaces, storage locker
Outgoings: rates $3123/year including gst; body corp levy $11,040/year including gst
Outcome: passed in at $1.3 million, sold post-auction, price undisclosed
Agent: Scott Dunn

Mt Eden

Grange Hall, 492 Mt Eden Rd, unit 3:
Features: cross-lease, 1/7 share in 1039m², 70m² unit, 2 bedrooms, garage with workspace, offstreet parking
Outgoings: rates $2207/year including gst
Outcome: passed in at $710,000
Agents: Grant Elliott & Tony Kelly

Attribution: Auction.

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One apartment sold out of 9 on offer at auction

An apartment in the Volt on Queen St (pictured) was the only one of 9 units on offer to sell at Ray White City Apartments’ auction today.

CBD

Learning Quarter

The Whitaker, 2 Whitaker Place, unit 5C:
Features: 53m², one bedroom, parking space
Outgoings: rates $1168/year including gst
Outcome: no bid
Agent: Andrew Bond

Quay Park

Mirage, 86 The Strand, unit 508:
Features: leasehold, 33m² studio, covered parking space
Outgoings: rates $1149/year including gst
Outcome: no bid
Agents: Mitch Agnew & Ryan Bridgman

Queen St

Guardian, 105 Queen St, unit 511:
Features: 35m², one bedroom
Outgoings: rates $1570/year including gst; body corp levy $3382/year
Income assessment: $480-520/week furnished
Outcome: passed in at $300,000
Agents: May Ma & Mark Li

Uptown

Volt, 430 Queen St, unit 1117:
Features: 40m², 2 bedrooms
Outgoings: rates $1304/year including gst; body corp levy $3901/year after 10% prompt payment discount
Income assessment: $490/week fixed until February
Outcome: sold for $340,000
Agents: Victor Liu

Victoria Quarter

Harvard, 147 Hobson St, unit 2F:
Features: 37m², 2 bedrooms
Outgoings: rates $1071/year including gst; body corp levy $3262/year after 10% prompt payment discount
Income assessment: $430/week current
Outcome: sole bid $280,000 from the vendor, passed in
Agent: Krister Samuel

Harvard, 147 Hobson St, unit 9J:
Features: 38m², 2 bedrooms
Outgoings: rates $1207/year including gst; body corp levy $5050/year
Income assessment: $435/week current
Outcome: passed in at $289,000
Agent: Krister Samuel

Stanford, 189 Hobson St, unit 2G:
Features: 41m², 2 bedrooms,
Outgoings: rates $1130/year including gst; body corp levy $3356/year after 10% prompt payment discount
Income assessment: $430/week current
Outcome: passed in after bid at $250,000, vendor bid at $280,000
Agent: Krister Samuel

Stanford, 189 Hobson St, unit 3B:
Features: 35m², 2 bedrooms
Outgoings: rates $1052/year including gst; body corp levy $3356/year after 10% prompt payment discount
Income assessment: $430/week current
Outcome: sole bid $280,000 from the vendor, passed in
Agent: Krister Samuel

North-east

Albany Heights

125 Gills Rd, unit 46:
Features: 154m², 3-bedroom townhouse, 2.5 bathrooms, double garage
Outgoings: rates $1841/year including gst; body corp levy $3526/year
Income assessment: $590/week, fixed until 8 March, appraisal $600-650/week unfurnished
Outcome: passed in at $650,000
Agents: May Ma & Mark Li

Attribution: Auction.

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Sales trio score all 4 deals at apartments auction

The apartment sales team of Steve Kirk, Habeen Urrahman & Chris Cairns scored 4 sales out of 4 properties on offer at Bayleys’ auction yesterday, where 19 apartments, townhouses & standalone homes were listed.

The other 3 apartments on the auction list were passed in, 2 without receiving a bid.

CBD

Quay Park

Scene 1, 2 Beach Rd, unit 1305:
Features: leasehold, 2-level 2-bedroom apartment, 2 parking spaces, remediation works identified – costs would fall to buyer, proceeding lodged in Weathertight Homes Tribunal, court claim lodged in 2014
Outgoings: rates $1808/year including gst; body corp levy $6800/year, ground rent $9704 pending new rate in November
Income assessment: $710/week
Outcome: sold for $130,000
Agents: Steve Kirk, Habeen Urrahman & Chris Cairns

Uptown

Nova en Scotia, 18 Scotia Place, unit 1A:
Features: 2 bedrooms
Outgoings: rates $1304/year including gst; body corp levy $4066/year
Income assessment: $520-550/week
Outcome: sold for $400,000
Agents: Chris Cairns, Steve Kirk & Habeen Urrahman

Park Terraces, 20 Upper Queen St, unit 401:
Features: 2 bedrooms, balconies, parking space
Outgoings: rates $1653/year including gst
Outcome: passed in at $450,000
Agent: Stephen Bidwell

126 Vincent St, unit 16:
Features: 256m², full-floor penthouse in mostly commercial building, 3 bedrooms, 2 lounges, 2 bathrooms, 3 parking spaces
Outgoings: body corp levy $25,018/year
Outcome: the apartment was sold for $1.2 million in September 2015; no bid this time
Agents: Julie Quinton & Jo Darbyshire

Isthmus east

Newmarket

23 George St, unit 5C:
Features: 3-bedroom penthouse, 2 bathrooms, balcony, 2 parking spaces
Outgoings: body corp levy $9472/year
Outcome: sold for $1.06 million
Agents: Chris Cairns, Steve Kirk & Habeen Urrahman

Isthmus west

Eden Terrace

43 Virginia Avenue East, unit 104:
Features: 61m², 2 bedrooms, parking space
Outgoings: body corp levy $4348/year
Outcome: sold for $550,000
Agents: Chris Cairns, Habeen Urrahman & Steve Kirk

Grey Lynn

1 Vinegar Lane, unit 201:
Features: 2-level penthouse, 2 bedrooms, 2 bathrooms, deck, 2 basement parking spaces
Outgoings: body corp levy $11,914/year including water
Outcome: no bid
Agent: Blair Haddow

Attribution: Auction.

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Mulpha buys Waldorf Stadium hotel

Mulpha Australia Ltd has bought the leasehold 4.5 star Waldorf Stadium Apartment Hotel at Quay Park in Auckland.

Colliers & CBRE declared last Thursday the hotel sale was the biggest in New Zealand since 2015 and biggest in Auckland since 2006 – without saying anything about the price of this transaction.

The 178-unit strata title development was sold subject to a new 11-year performance lease underpinned by Japanese serviced apartment conglomerate Daiwa House Group, which acquired the Australia & New Zealand Waldorf serviced apartment business in 2017 and has plans to expand in the region.

Mulpha chief executive Greg Shaw said: “We were attracted to its position in a key gateway city, strategic location in the heart of the Auckland cbd, together with several strategic opportunities to add additional value to this asset over the short to medium term, working in conjunction with the hotel operator Daiwa House Group.”

The hotel has a mix of studio, one-, 2- & 3-bedroom self-contained apartments. It has a long-term ground lease to the Ngati Whatua o Orakei Maori Trust Board.

Mulpha Australia is a subsidiary of Malaysia-listed Mulpha International Bhd, in turn controlled by Hong Kong company Allied Group Ltd, which also controls listed Hong Kong non-bank financial institution Sun Hung Kai & Co Ltd. Lee Seng Huang, Lee Seng Hui & their sister, Lee Su Hwei – Malaysians educated in Sydney, the children of 1980s corporate raider Lee Ming Tee – operate their family interests through Allied.

The hotel was developed by Perron Developments Ltd.

Earlier story:
9 October 2009: Apartments at centre of Blue Chip case go on market

Attribution: Agency release.

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Eclipse & Landings units sell

An Eclipse apartment (pictured) was sold at an auction brought forward and a unit in the leasehold Landings at Quay Park was also sold under the hammer at Ray White City Apartments today.

Apartments in Zest & the Connaught and a suburban unit at Pt England were passed in.

CBD

Learning Quarter

Connaught, 14 Waterloo Quadrant, unit 1F:
Features: 75m², 2 bedrooms, full makeover includes new kitchen & bathroom, decks off living room & both bedrooms, single internal-access garage
Outgoings: rates $2059/year including gst; body corp levy $6497/year
Outcome: passed in at $752,000
Agents: Steve & Lisa Stone

Quay Park

The Landings, 10 Ronayne St, unit 205:
Features: leasehold, 47m², 2 bedrooms (details corrected)
Outgoings: rates $1149/year including gst; body corp levy $2338/year, ground rent $1952/year (increasing to $3361/year for next term)
Income assessment: $410/week
Outcome: sold for $140,000
Agents: James Mairs & Lucia Gao

Uptown

Eclipse, 156 Vincent St, unit 1F:
Features: 41m², furnished one bedroom, 16m² private courtyard, storage locker
Outgoings: rates $1343/year including gst; body corp levy $3669/year including water
Income assessment: $450/week, fixed until next May
Outcome: sold for $350,000 at auction brought forward (acceptable offer was $345,000)
Agents: Judi & Michelle Yurak

Victoria Quarter

Zest, 72 Nelson St, unit 1223:
Features: 36m², 2 bedrooms
Outgoings: rates $1188/year including gst; body corp levy $4517/year
Income assessment: $460-480/week furnished
Outcome: passed in at $290,000
Agents: Judi & Michelle Yurak

Isthmus east

Pt England

59 Pt England Rd, unit 2:
Features: cross-lease, 291m² lot (1/3 share in 872m²), 64m² building, 2-level 2-bedroom suburban unit, parking space
Outgoings: rates $1394/year including gst
Outcome: passed in at $300,000
Agents: Stephen Ng & Ali Khandanpour

Attribution: Auction.

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5 apartments out of 12 sell at auction

5 of the 12 apartments auctioned at Ray White City Apartments yesterday sold under the hammer.

2 vendors had 2 apartments each up for sale and none of them sold first time round. 2 of those units in the leasehold Landings at Quay Park (pictured) sold when offered together, but the other vendor’s pair, in the Zest complex, remained unsold.

Units sold in Kiwi on Queen, Mount Terrace and at Thompson Park in Mt Wellington.

At the bottom of the market, a unit in the Unitec student accommodation village, where remediation is required, attracted just 2 bids and was passed in at $2000.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1101:

Features: 35m², one bedroom, storage unit
Outgoings: rates $1265/year including gst; body corp levy $3516/year
Income assessment: $475/week, fixed until 16 January
Outcome: passed in at $402,000
Agents: Ron Yang & Adam Gurr

Learning Quarter

Mount Terrace Apartments, 33 Mount St, unit 15A:
Features: 61m², fully furnished 2 bedrooms
Outgoings: rates $1440/year including gst; body corp levy $7716/year including water
Outcome: sold vacant for $390,000
Agent: Victor Liu

The Wakefield, 18 Wakefield St, unit 7F:
Features: 56m², vacant one bedroom
Outgoings: rates $1362/year including gst; body corp levy $2895/year
Income assessment: $550-580/week furnished
Outcome: no bid
Agents: Dominic Worthington & Ady Huang

Quay Park

The Landings, 10 Ronayne St, units 410 & 510:
Features: both leasehold, each 53m², 2 bedrooms, parking space
Outgoings: unit 410 – rates $1362/year including gst; body corp operational levy $4035/year, ground rent $5800/year; unit 510 – rates $1381/year including gst; body corp operational levy $4172/year, ground rent $5998/year
Income assessment: both $550/week current
Outcome: each passed in at $205,000; both units sold together for $450,000
Agents: Dominic Worthington & Ady Huang

The Landings, 8 Ronayne St, unit 1002:
Features: leasehold, 51m², 2 bedrooms, 2 bathrooms, balcony, tandem parking
Outgoings: rates $1498/year including gst; body corp operational levy $4768/year, ground rent $6955/year
Outcome: passed in after bid at $210,000 & vendor bid at $225,000
Agents: Dominic Worthington & Ady Huang

Uptown

Kiwi On Queen, 421 Queen St, unit 211:
Features: 45m², fully furnished 2 bedrooms
Outgoings: rates $1265/year including gst; body corp levy $4973/year including water
Income assessment: $500-520/week furnished
Outcome: sold vacant for $420,500
Agents: May Ma & Mark Li

Victoria Quarter

Zest, 72 Nelson St, units 214 & 415:
Features: each 23m², fully furnished one bedroom
Outgoings: unit 214 – rates $926/year including gst, body corp levy $2014/year; unit 415 – rates $936/year including gst, body corp levy $2071/year
Income assessment: each $300/week, current
Outcome: unit 214 – passed in at $160,000; unit 415 – passed in at $155,000; units 415 & 214 together – passed in after bid at $300,000, vendor bid at $400,000
Agent: Victor Liu

Isthmus east

Mt Wellington

Thompson Park Apartments, 8 Thompson Park Rd, unit 32:

Features: 98.26m² including 11.42m² of balconies, 2 bedrooms, 2 bathrooms, study, storage locker, 2 parking spaces
Outgoings: rates $1844/year including gst; body corp levy $3395/year
Income assessment: $650-700/week
Outcome: sold for $740,000
Agent: Steve King

Isthmus west

Eden Terrace

Uptown on New North Rd, 83 New North Rd, unit GB:
Features: 83m² ground-floor apartment on 113m², 2 bedrooms, patio, 2 parking spaces
Outcome: no bid
Agent: Andrew Bond

Pt Chevalier

125 Carrington Rd, Building 310, door 9:
Features: leasehold, 2 bedrooms, 2 bathrooms, one of 45 apartments containing 130 rooms under management in Unitec student accommodation village, remedial work for weathertightness issues not yet completed – body corporate approved for financial assistance under an MBIE (Ministry of Business, Innovation & Employment) claim
Outgoings: rates $1607/year including gst; body corp levy $6210/year – ground rent being reviewed to market after initial period of 10c/year peppercorn rent, negotiation range $3621-5965/year + gst; buyer to pay any levy to cover new ground rent
Income assessment: each room $245/week during 2 semesters in pooled scheme; owner also benefits from share of rental pool; gross rent for both units $13,423/year in April 2018 year, net $6726/year
Outcome: property offered on an ‘as is, where is’ basis, passed in at $2000
Agents: James Mairs & Andrew Bond

Attribution: Auction.

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All passed in at apartments auction

All 3 apartments auctioned at Ray White City Apartments yesterday were passed in

CBD

Learning Quarter

Carlisle Apartments, 7 Emily Place, unit 2H:
Features: 52m², one bedroom, Juliet balconies
Outgoings: rates $1357/year including gst; body corp levy $4902/year
Outcome: passed in at $490,000, back on market at $545,000
Agent: Damian Piggin

Quay Park

The Landings, 10 Ronayne St, unit 401:
Features: leasehold, 41m², 2 bedrooms, newly remediated complex
Outgoings: rates $1110/year including gst; body corp levy $4290/year, ground rent will increase by $1548/year
Income assessment: $450/week, fixed until 18 January
Outcome: passed in at $150,000
Agents: James Mairs & Lucia Gao

Isthmus east

Newmarket

11 George St, unit 3E:
Features: pet-friendly dual key unit, total 177m² – 2-bedroom apartment, 2 bathrooms, balcony; plus one-bedroom apartment; 2 parking spaces
Outgoings: rates $4253/year including gst; body corp levy $/year
Income assessment: $/week
Outcome: passed in at $1.5 million
Agent: Susanne Bussell

Attribution: Agency release.

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4 apartments sell at auction

Published 7 September 2018
4 of the 7 apartments auctioned at Ray White City Apartments yesterday were sold under the hammer.

CBD

Federal St

Federal City Apartments, 207 Federal St, unit 402:
Features: 61m², fully furnished 2 bedrooms, balcony
Outgoings: rates $1478/year including gst; body corp levy $5109/year
Income assessment: $580-600/week furnished
Outcome: passed in at $507,000
Agents: May Ma & Mark Li

Quay Park

The Docks, 6 Dockside Lane, unit 318:
Features: leasehold, 65m², 2 bedrooms, parking space
Outgoings: rates $1769/year including gst; body corp levy $9287/year after 10% discount for payment by due date, including $4487/year ground rent
Income assessment: $600/week current
Outcome: sold for $178,000
Agent: Victor Liu

Uptown

Kiwi on Queen, 421 Queen St, unit 514:
Features: 52m², 4 bedrooms
Outgoings: rates $1478/year including gst; body corp levy $5789/year after 10% discount for payment by due date
Income assessment: $650/week
Outcome: sold for $486,000
Agent: Victor Liu

Victoria Quarter

88 Cook St, unit 32:
Features: 175m², 4 bedrooms + flexi-room, 2 bathrooms, 2 parking spaces
Outgoings: rates $2113/year including gst; body corp levy $3367/year
Outcome: no bid
Agent: Victor Liu

Marina Park, 146 Fanshawe St, unit 51:
Features: 51m², 2 bedrooms, tandem parking, reclad & new code compliance certificate issued in 2012
Outgoings: rates $1660/year including gst; body corp levy $3523/year after 10% discount for payment by due date
Income assessment: $490/week current
Outcome: sold for $516,000
Agent: Victor Liu

Zest, 72 Nelson St, unit 1203:
Features: 37m², 2 bedrooms, parking space
Outgoings: rates $1304/year including gst; body corp levy $4285/year
Income assessment: $450/week current, sold with vacant possession
Outcome: sold for $368,500
Agent: Victor Liu

Wynyard Quarter

Stratis, Lighter Quay, 83 Halsey St, unit 608:
Features: leasehold, 101m² on top floor, furnished 3 bedrooms, 2 bathrooms, 2 parking spaces
Outgoings: rates $2989/year including gst; body corp levy $54,660/year
Outcome: passed in after sole bid at $700,000
Agent: Damian Piggin

Attribution: Auction.

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2 sales & one pending from apartments auction

Published 30 August 2018
A leasehold apartment in the Landings (pictured), beside the Spark Arena in Quay Park, sold under the hammer at Ray White City Apartments’ auction today.

One of the other 2 units on the auction list, in the Guardian on Queen St, had the highest bid placed on a contract and the third unit, in the Heritage Farmers, was sold post-auction.

CBD

Quay Park

The Landings, 10 Ronayne St, unit 305:
Features: leasehold, 47m², 2 bedrooms, storage locker, new code compliance certificate issued after remediation
Outgoings: rates $1168/year including gst; body corp levy $4543/year – $2476/year operating levy, $2067/year ground rent; ground lease was up for renewal at 1 August 2018
Income assessment: $440/week
Outcome: sold for $192,000
Agents: James Mairs & Lucia Gao

Queen St

The Guardian, 105 Queen St, unit 701:
Features: 43m², fully furnished one-bedroom corner unit
Outgoings: rates $1745/year including gst; body corp levy $4124/year
Income assessment: $480/week fully furnished
Outcome: passed in at $410,000, highest bid placed on contract
Agents: Dominic Worthington & Ady Huang

Victoria Quarter

Heritage Farmers, 35 Hobson St, unit 306:
Features: 33m², furnished studio
Outgoings: rates $4502/year including gst; body corp levy $4979/year
Income assessment: in hotel management pool
Outcome: passed in at $256,000, sold post-auction
Agents: Mitch Agnew & Ryan Bridgman

Attribution: Auction.

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