Archive | Newmarket

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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5 commercial & industrial sales in Auckland & south of Bombays

Colliers agents have sold 4 properties around Auckland, 2 at auction, and another 5 in the Bay of Plenty, Hawke’s Bay & Taranaki.

CBD

Uptown

5-7 Galatos St:
Features: 706m² site zoned business – city centre, allowing development to 30m high, 712.9m² building, headquarters of social enterprise Eat My Lunch Ltd, 100m from soon-to-be-constructed Karangahape city rail link station
Rent: $189,950/year net + gst, 8-year lease from 2016, 2 rights of renewal
Outcome: sold at auction brought forward for $4.35 million + gst, at a 4.37% yield
Agents: Shoneet Chand & Jonathan Lynch

Isthmus east

Newmarket

5 Broadway:
Features: 819m² site, 770m² commercial building
Outcome: sold for $6.75 million at a 4.4% yield
Agents: David Burley & Adam White

Isthmus west

Westmere

127-131 West End Rd:
Features: 741m² site zoned neighbourhood centre, redevelopment potential, 200m² floor area, 3 retail tenancies, rear parking
Rent: $45,620/year net + gst + opex
Outcome: sold at auction for $3 million + gst, at a 1.52% yield
Agents: Kris Ongley, Jonathan Lynch & Leroy Wolland

South

Half Moon Bay

490 Pakuranga Rd:
Features: 350m² retail block, 4 tenancies ranging from 70-130m²
Outcome: sold for $2.9 million + gst, at a 5.74% yield
Agents: Gawan Bakshi & Matthew Barnes

South of the Bombays

Bay of Plenty

Tauranga – Judea

19-25 Montgomery Rd:
Features: 3381m² industrial site in 3 titles, 2024m² net lettable area, high stud warehousing
Rent: $179,013/year net + gst
Outcome: sold for $2.85 million + gst, at a 6.28% yield
Agents: Rich Davidson & Rob Schoeser

Hawke’s Bay

Hastings – Twyford

1137 Omahu Rd:
Features: 15,568m² site zoned general industrial, redevelopment site containing a lifestyle block with a 240m² house, 448m² steel portal shed, 112m² canopy
Outcome: sold for $1.8 million + gst
Agents: Rob Nankervis & Hadley Brown

1424C Omahu Rd, unit 1:
Features: 3742m² industrial property, 1640m² 7m-stud warehouse & office, 1400m² sealed yard
Rent: $152,600/year net + gst, with 3-month break clause
Outcome: sold for $1.8 million + gst, at an 8.48% yield
Agent: Rob Nankervis

Napier

Whakatu industrial park, 50 Johnston Way:
Features: 11,130m² industrial property, single-storey specialist processing facility
Rent: $251,286/year net + gst from multiple tenants
Outcome: sold for $2,479,800 + gst, at a 10.1% yield
Agent: Rob Nankervis

Taranaki

New Plymouth – Bell Block

87 Corbett Rd:
Features: 6689m² site, 725m² building – warehouse 457m², office 268m² on ground floor & mezzanine, 3000m² subdivisible yard, 19 parking spaces
Rent: market assessment $102,500/year net + gst
Outcome: sold vacant for $1.375 million + gst
Agent: Benet Carroll

Attribution: Agency release & agent documents.

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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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Carlton Gore office building leads 3 big sales

Colliers agents have scored 3 big sales – on Carlton Gore Rd in Newmarket (pictured above), the Royal Heights shopping centre (below) and a childcare centre in Mt Albert.

Isthmus east

Newmarket

109 Carlton Gore Rd:
Features: 4550m² office building, 4 levels, basement parking, built by Mansons TCLM Ltd in a twin office development
Rent: rent & vacancy not disclosed
Outcome: sold to a local private investor for $28 million + gst
Agents: Gareth Fraser, David Burley & Simon Child

Isthmus west

Mt Albert

55 Sainsbury Rd, unit 10:
Features: 1208m², childcare centre occupying whole first floor of a corner retail development built in 2010, leased to NZX-listed Evolve Education Group Ltd under its Lollipops Educare brand, 23 basement parking spaces
Rent: $226,000/year net + gst + opex
Outcome: sold for $3 million + gst at a 7.53% yield (asking price was $3.275 million, at a 6.9% yield)
Agents: Kris Ongley & Shoneet Chand

North-west

Massey

The Royal Heights shopping centre in Massey.

Royal Heights Shopping Centre, 138-144 Royal Rd & 41 Widmore Drive corner:
Features: 1.787ha centre containing a Countdown supermarket, 5 retail blocks & parking, on 2 titles zoned neighbourhood centre, 5051m² gross lettable area,
Rent: $785,961/year net + gst
Outcome: sold for $16.83 million + gst at a 4.67% yield
Agents: Gareth Fraser, Peter Herdson, Blair Peterken & Josh Coburn

Attribution: Agency release.

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3 sold in focus on cross-leases

7 of the 11 homes auctioned at Barfoot & Thompson’s city office yesterday afternoon were cross-leases, and 3 sold.

Also up for auction were a townhouse not on a cross-lease, an apartment & 2 standalone houses, all passed in.

A Newmarket apartment auctioned in the morning didn’t attract a bid.

The brick-&-tile sausage block is the standard from the past and they’re generally holding buyer interest, though the one in the photo above, in Mt Albert, didn’t attract a bid. Recent indications from the auctionrooms are that owners of suburban units & cross-leased homes, having gone to market, are resisting price reductions.

Isthmus east

Greenlane

93 Wheturangi Rd, unit 2:
Features: cross-lease, 1/5 share in 1942m², 2-bedroom unit, study, conservatory, garage
Outcome: sold for $1.057 million
Agents: Wendy Sadd & Helen Lam

Mt Wellington

36 Panama Rd, unit 1:
Features: cross-lease, ¼ share in 1232m², 2-bedroom unit, garage
Outcome: no bid
Agent: Paula Boontueng

Newmarket

Queen’s Lodge, 176 Broadway, unit C308:
Features: 64m², 2-bedroom apartment, 2 ensuites, secure covered parking space
Outgoings: body corp levy $2144/year for unit, $415/year for parking
Income assessment: $650-680/week
Outcome: no bid, back on market at $658,000
Agents: Selina Zheng & Tommy Zhang

Onehunga

49 Namata Rd, unit 2:
Features: cross-lease, 1/3 share in 895m², 2-bedroom unit – double-glazed, insulated, rewired; carport
Outcome: sold for $750,000
Agent: Kelly Fan

Remuera

17A Armadale Rd:
Features: cross-lease, 1/3 share in 858m², 3 bedrooms, 2 bathrooms, carport
Outcome: passed in at $1,281,500
Agents: Wayne Guo & Coco Wang

Isthmus west

Mt Albert

8 Counsel Terrace, unit 3:
Features: cross-lease, 1/6 share in 1315m², one-bedroom unit
Outcome: no bid, back on the market at $610,000
Agents: Wayne Guo & Zoe Zhang

Mt Eden

145 Mt Eden Rd, unit 10:
Features: 2-bedroom apartment, parking space
Outgoings: body corp levy $4343/year
Outcome: passed in at $820,000
Agent: Mozhgan Bahrami

573C Mt Eden Rd:
Features: 209m², 4-bedroom townhouse, 3 bathrooms, double garage
Outcome: passed in at $1.55 million
Agents: Ricky Fan & Joyce Gu

Mt Roskill

98 Melrose Rd, unit 4:
Features: cross-lease, ¼ share in 1378m², 75m² 2-bedroom unit, parking space
Outcome: passed in at $560,000
Agents: Michael Zhang & Debbie-Lee Wallace

North-west

New Lynn

1 Riverview Rd, unit 1:
Features: cross-lease, half share in 1042m², 180m² 3-bedroom unit, 2 bathrooms, double garage
Outcome: sold for $907,500 at auction brought forward
Agents: Anna Lechtchinski & Alex Wu

Attribution: Auction.

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3 separate Newmarket Broadway properties sold

Bayleys agents have sold 3 separate Newmarket Broadway commercial properties and another on Carlton Gore Rd.

Isthmus east

Newmarket

136 Broadway:
Features: 400m² site opposite intersection with Khyber Pass, zoned metropolitan centre (height allowance of 28.5m) offering development potential; 6-level, 1432m² retail & office building, basement parking; Ray White occupies the ground floor & has signage rights, floors above are tenanted by various professional firms
Rent: about $461,000/year net + gst
Outcome: sold for $7.2 million at a 6.4% yield
Agents: Oscar Kuang, James Chan & Matt Lee

180-182 Broadway (pictured above):
Features: 427m² site, 2062m² fully leased, 7-storey building, 2 double stud height shops on ground level; Route 66 & Tank Juice occupy retail space, Techtorium Ltd leases 3 of 5 office levels; 21 parking spaces on individual unit titles in adjoining building plus additional income from advertising signage lease on southern exterior
Rent: $763,000/year net + gst
Outcome: sold for $11.5 million at a 6.63% yield
Agents: Alan Haydock, Damien Bullick & Graeme Sun

252-254 Broadway:

252-254 Broadway, Newmarket.

Features: 362m² site, 746m² standalone retail building constructed in 1994; Rodd & Gunn NZ Ltd leases 529m² over 2 levels until February 2022 plus 2 4-year rights of renewal, Nike leases the remaining 271m² until August 2022
Rent: $519,000/year net + gst
Outcome: sold for $7 million at a 7.41% yield
Agents: Ed Donald & David Bayley

96B Carlton Gore Rd:
Features: 578m² 2-level premises, 15 secure parking spaces in large commercial & residential complex built in the 1990s; 10-year lease from May 2017 on 408m² of high stud showroom space occupied by Flex Fitness NZ Ltd, a 24/7 gym with substantial fitout; a 170m² office tenancy above, with separate entrance, is occupied by beauty/wellness tenant Coslab Medical Aesthetics Ltd
Rent: $264,000/year net + gst
Outcome: sold for $3.4 million at a 7.76% yield
Agent: Alan Haydock

Attribution: Agency release.

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4 intensive residential sales at week’s auctions

10 intensive properties – apartments, suburban units and one property with consent for 4 terraced houses – were auctioned at Barfoot & Thompson’s city office this week, and 4 sold.

That picture, after a more successful auction on Thursday afternoon than many recently, compares to the state of play at close on Wednesday: 6 auctioned, 2 sold.

The greater success rate followed Thursday afternoon’s auction of 11 residential properties (including standalone houses), of which 7 sold, including 2 of the 3 suburban units.

CBD

Uptown

Harbour Green, 11 Union St, unit 711:
Features: 2-bedroom apartment, deck, basement parking space
Outcome: passed in, back on market at $415,000
Agents: Wendy Feng & Jack Li

Isthmus east

Newmarket

176 Broadway, unit B502:
Features: 63m², 2-bedroom apartment, 2 bathrooms, secure parking space
Outcome: passed in
Agent: Peter Wu

Onehunga

Norfolk Rise, 110D Grey St:
Features: 3-bedroom unit, carport
Outcome: passed in at $804,000
Agent: Digna Clark

15 Heretaunga Avenue, unit 1:
Features: 2-bedroom unit, 2 garden sheds, carport
Outcome: sold for $683,000
Agent: Kevin Liu

Remuera

Park Crest, 524 Remuera Rd, unit 10B:
Features: 2-bedroom apartment, 2 bathrooms, balcony, 2 parking spaces, storage locker
Outgoings: estimated body corp levy for 2019 $12,374/year
Outcome: no bid, back on market at $1.495 million
Agents: Andrew Tills & Anne Bruford

705 Remuera Rd, unit 1D:
Features: 3-bedroom apartment, 2 bathrooms, terrace, 2 secure basement parking spaces, storage locker
Outcome: no bid, back on market at $1.698 million
Agents: Leila & David MacDonald

Royal Oak

44 Korma Rd, unit 2:
Features: about 66m² internal, 2-bedroom unit, large deck, carport, garden shed; 13.4m² container-studio outside provides options for officer or storage
Outcome: sold for $690,000
Agent: Justin Coleman

Isthmus west

Avondale

19A & B Holly St:
19A features: 89m² unit, 3 bedrooms, balcony, private & secure courtyard, carport, storage
19B features: refurbished 2 bedrooms, balcony, carport
Outcomes: no bid on the 2 together; 19A was then sold for $596,000; there was no bid on 19B on its own and it’s back on the market at $550,000
Agents: Jason Tsang & Ian Yu

North-west

Te Atatu South

6 Milich Terrace:
Features: 809m² section, 3-bedroom house, garage; resource consent granted for 4 terraced houses with study & double internal-access garages
Outcome: sold for $730,000 at mortgagee auction
Agent: Philip Davis

Attribution: Auctions.

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Kohi unit & St Heliers house sell, but 15 other homes passed in

The first property up for sale at Barfoot & Thompson’s apartments & houses auction this morning – a large cross-leased unit just off Tamaki Drive in Kohimarama – was sold under the hammer, and the third offering of the day, a house in St Heliers, was also sold.

The other 15, including 5 other apartments, a terrace & a suburban unit with sleepout, were all passed in.

Barfoot’s moved to a dedicated apartments & commercial auction on Thursday mornings at its city office a couple of years ago, but struggled to get a large selection – when the agency’s city residential property business could run through 80 auctions in a day, 2 sessions in 2 auctionrooms.

The agency’s commercial branch has rarely offered more than 2 properties at these auctions, while apartment numbers have also dwindled.

So today’s offering was a novelty – 9 houses and a larger selection of intensive housing than usual – but with an outcome that’s become commonplace since the residential markets started to turn downward around 18 months ago.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2114:
Features: 51m², 2-bedroom apartment
Income assessment: $675/week current until October
Outcome: passed in
Agents: Aaron Cook & Holly Huang

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1606:
Features: fully furnished 2-bedroom apartment, parking space
Outcome: no bid
Agent: Oleg Lykov

Isthmus east

Kohimarama

28 Speight Rd, unit 3:
Features: cross-leased, 3-bedroom unit, deck, internal-access garag
Outcome: sold for $1.08 million
Agent: Lynette Boyd

Mt Wellington

Mountain View, 68 Mountain Rd, unit 52:
Features: 2-bedroom apartment, balcony, 2 covered parking spaces
Outcome: no bid, back on market at $570,000
Agents: Nathan Canton & Bev Bellas

Newmarket

373 Khyber Pass Rd, unit 17:
Features: studio
Outcome: passed in, back on market at $355,000
Agent: Cici Wang

Isthmus west

Eden Terrace

10 Ruru St, unit 31:
Features: 107m², 3-level one-bedroom terrace, balcony, double internal-access garage, reclad and new code compliance certificate issued 2010
Outcome: passed in
Agents: Eugene Yamamoto & Joanne Simpson

Mt Eden

30A Enfield St, unit 102:
Features: 3-bedroom apartment, 2 bathrooms, deck, garage
Outcome: passed in, back on market at $1.115 million
Agent: Jill Jackson

South

Mangere East

239 Robertson Rd, unit 1:
Features: 326m² section, 70m² 2-bedroom unit + 20m² sleepout with own bathroom, carport
Income assessment: $560/week current
Outcome: passed in
Agents: Neno Radinovich & Brett Innes

Attribution: Agency release.

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Showroom & mixed-use building passed in at auctions

A Newmarket showroom and a mixed-use building in the Wairau Valley were passed in at Colliers auctions on Wednesday.

Isthmus east

Newmarket

96E Carlton Gore Rd:
Features: vacant 755m² net lettable area, showroom & office, 21 parking spaces
Outcome: passed in one sole bid from vendor at $3.3 million
Agents: David Burley & Simon Child

North-east

Wairau Valley

171-173 Archers Rd:
Features: 516m² standalone 1960s industrial building, café & kitchen 235m², residential & massage 150m², warehouse 119m², basement 136m², storage 12.3m², the Cat Lounge retail tenancy at front, massage rooms, warehouse & associated living quarters at rear
Outgoings: body corp levy $5295/year, nil in the next 12 months
Rent: $25,920/year + gst from Cat Lounge, final expiry April 2023; $5426/year + gst, including outgoings, from the Butcher storage on monthly tenancy
Outcome: passed in
Agents: Matt Prentice, Euan Stratton & Craig Smith

Attribution: Auction documents.

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6 apartments & a commercial unit sell at auctions

6 apartments & townhouses were sold at Bayleys auctions over the last 2 weeks, and 7 were passed in. One was withdrawn.

A commercial unit in the Wairau Valley was also sold under the hammer.

Apartments

CBD

Uptown

Hopetoun Residences, 15 Hopetoun St, unit 1206:
Features: 2-bedroom penthouse, 2 bathrooms, balcony, 2 parking spaces
Outcome: passed in
Agents: Julie & Trent Quinton

Isthmus east

Newmarket

14D Sarawia St:
Features: 4-bedroom townhouse, 2 bathrooms, balcony, 2 parking spaces
Outcome: passed in
Agents: Harry Cheng & Wei Wei Elder

One Tree Hill

83 Moana Avenue, unit 4:
Features: 2-bedroom unit, internal-access garage
Outcome: passed in
Agent: Dianne Nichol

Parnell

57 Gladstone Rd, unit 5:
Features: 2 bedrooms, 2 living rooms, parking space
Outcome: sold for $1.55 million
Agent: Fleur Denning

Remuera

Broadway Park, 38 James Cook Crescent, unit 1E:
Features: 2-bedroom apartment in D’Urville building, balcony, internal-access garage, storage locker
Outcome: withdrawn from auction
Agents: Shona Walding & Cheryl Regan

Broadway Park, 38 James Cook Crescent, unit 7A:
Features: 215m² including balcony, 3-bedroom penthouse in D’Urville building, 2 living rooms, 3 bathrooms, internal-access garage, 3 parking spaces, storage locker
Outcome: sold for $3.05 million
Agent: David Rainbow

Isthmus west

Eden Terrace

33L Charlotte St:
Features: multi-level 3-bedroom terrace, 2 bathrooms, balcony, double internal-access garage, in electronically gated complex
Outcome: passed in
Agents: Julie Quinton & Diane Jackson

Ponsonby

70 Ponsonby Rd, unit 106:
Features: studio, parking space, under Quest Ponsonby hotel management
Outgoings: rates $4006/year including gst
Outcome: sold for $132,000
Agents: Dave Hamlyn & Wendy Nichols

Sandringham

14 Fowlds Avenue, unit 8:
Features: 3-bedroom terrace, courtyard, parking space
Outgoings: rates $2100/year including gst; body corp levy $3096/year
Outcome: passed in
Agents: David Downie & Lisa Smyth

St Marys Bay

101 Shelly Beach Rd, unit 6:
Features: 2-bedroom apartment, deck, parking space; no body corporate
Outcome: passed in, back on market at $915,000
Agent: Luke McCaw

80 St Marys Rd, unit 2:
Features: 2-bedroom unit, parking space; no body corporate
Outcome: passed in, back on market at $780,000
Agent: Chris Batchelor

North-east

Albany

28D The Avenue:
Features: 70m², one-bedroom apartment, deck, 2 parking spaces
Income assessment: $440/week current, appraisal $450-500/week
Outcome: sold for $400,000
Agent: Ryan Steven

Northcote

48A Exmouth Rd, unit 1:
Features: 3-bedroom townhouse, 2 bathrooms, double garage
Outcome: sold for $700,000
Agents: Yan Davies & Ryan Steven

North-west

Hobsonville Point

44 Onekiritoa Rd:
Features: 2-level 2-bedroom terrace, 2 living rooms, 2 bathrooms
Outcome: sold for $755,000
Agent: John Procter

Commercial

North-east

Wairau Valley

25 Ashfield Rd, unit 7:
Features: 139m² industrial unit, 2 office levels, 2 parking spaces
Outcome: sold vacant for $370,000
Agent: Trevor Duffin

Attribution: Agency release.

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