Archive | Onehunga

Quiet week for intensive residential in the auction room

It’s been a quiet time for the auction process at Barfoot & Thompson’s city branch this week as 19 apartments, suburban units & cross-leases in the central city (Precinct) and around the isthmus were auctioned at 5 sessions. Another 5 were auctioned at the regular Thursday morning apartments session – all passed in (see separate story).

Outside that Thursday morning session, 4 were sold under the hammer, 11 were passed in, 2 were withdrawn from auction and 2 were sold pre- or post-auction.

CBD

Lorne St

Precinct, 6 Lorne St, unit 2205:
Features: 2 bedrooms, 2 bathrooms, parking space
Outcome: no bid
Agents: Danny Upton & James Yu

Isthmus east

Epsom

1A Campbell Crescent, unit 1:
Features: 2-bedroom unit, parking space
Outcome: no bid
Agents: George Fong & Laura McAuley

Epsom Mews, 533 Manukau Rd, unit 15:
Features: 2-bedroom unit, carport, storage locker
Outcome: passed in, back on market at $788,000
Agent: Robert Thompson

Onehunga

48 Mays Rd, lot 10:
Features: 5 bedrooms, 2 bathrooms, double internal-access garage, 10-year master builder warranty
Outcome: withdrawn from auction
Agent: Kevin He

One Tree Hill

11A Houpara St:
Features: cross-lease, half share in 945m², 3 bedrooms, double garage
Outcome: no bid, back on market at $849,000
Agent: Paul Hodgman

71 Rawhiti Rd, unit 3:
Features: cross-lease, 1/3 share in 1230m², 3 bedrooms, garage
Outcome: sold for $1.121 million
Agents: Wendy Sadd & Helen Lam

Remuera

45 Abbotts Way, unit 2:
Features: 2-bedroom unit, carport
Outcome: sold at pre-auction
Agent: Ricky Fan

746 Remuera Rd, unit 1:
Features: 2-level 2-bedroom townhouse, double garage
Outcome: sold for $835,000
Agent: Sam Bowen

Royal Oak

29 Inkerman St, unit 3:
Features: 2-bedroom unit, carport
Outcome: passed in
Agent: Oscar Zhao

29 Mt Smart Rd, unit 3:
Features: cross-lease, 1/5 share in 1191m², 2-bedroom unit, offstreet parking
Outcome: sold for $672,000
Agent: Di Martens

St Johns

52 Merton Rd, unit 1:
Features: 2-bedroom unit, carport
Outcome: passed in
Agent: Zdenka Zinajic

Isthmus west

Freemans Bay

Star Apartments, 59 Hepburn St, unit 5:
Features: 2-bedroom apartment
Outcome: sold for $822,500
Agent: Matt O’Brien

Grey Lynn

424F Richmond Rd:
Features: reclad 2-level 2-bedroom unit, 2 bathrooms, 2 parking spaces, code compliance certificate not yet attained
Outcome: withdrawn from auction
Agents: Sherryl Jones & Jack Atherton

Hillsborough

13A Locke Avenue:
Features: 3 bedrooms, garage
Outgoings: body corp levy $1040/year
Outcome: no bid
Agent: Michelle Mi

Mt Eden

Paddington Green, 7 Balmer Lane:
Features: 219m² site, 4-bedroom townhouse, 2 bathrooms, garage
Outcome: passed in
Agents: Sara Knight & Vern Hines

Valley View, 351 Mt Eden Rd, unit 6:
Features: 2-bedroom apartment, Juliet balcony
Outcome: sold post-auction
Agent: Anna Copeland

Mt Roskill

3 Keystone Avenue, unit 3A:
Features: one-bedroom apartment, 2 parking spaces, storage locker, full reclad completed
Outcome: no bid
Agent: Prasanna Kumar

353 Mt Albert Rd, unit 1:
Features: cross-lease, 95m² 3-bedroom upstairs unit, garage
Outcome: no bid, back on market at $699,000
Agent: Kelly Zhang

St Marys Bay

117 Shelly Beach Rd, unit 9:
Features: 3-bedroom terrace, 3 bathrooms, balcony, secure double garage
Outcome: no bid
Agents: Carl & Rosanne Madsen

Related story today: 5 apartments out of 5 passed in

Attribution: Auction documents.

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Onehunga light industrial units & 2 city apartments sell at auction

Both Onehunga commercial properties auctioned at Barfoot & Thompson’s city office today were sold under the hammer, and a retail property in Epsom was sold prior.

2 of the 3 central city apartments were sold – a 1930s Eden Hall unit after spirited bidding – and one was passed in.

Apartments

CBD

Federal St

Federal, 207 Federal St, unit 306:
Features: 61m², 2 bedrooms, balcony
Outgoings: body corp levy $4824/year
Outcome: passed in at $500,000
Agent: Selina Zheng

Learning Quarter

Eden Hall, 3 Eden Crescent, unit 5:
Features: 90m² 1930s art deco apartment, 3 bedrooms
Outgoings: body corp levy $5570/year
Outcome: sold for $895,000
Agent: Liz Derbyshire

Sapphire, 76 Wakefield St, unit 511:
Features: 51m², 2 bedrooms, balcony
Outgoings: rates $1435/year including gst; body corp levy $4289/year
Outcome: sold for $510,000
Agents: Stephen & Leo Shin

Commercial

Isthmus east

Epsom

83 Great South Rd:
Features: 278m² site, 92m² shop, 4 parking spaces, zoned business – local centre, which allows for 18m height
Rent:
Outcome: sold prior
Agents: Cam Paterson & Andrew Clark

Onehunga

136A Captain Springs Rd:
Features: 282m² unit zoned light industrial, predominantly warehouse, 300m from Te Papapa station
Outgoings: body corp levy $2211/year
Outcome: sold vacant for $866,000
Agents: James Marshall & Nick Wilson

136B Captain Springs Rd:
Features: 160m² warehouse + amenities, roller door access, 70% seismic rating, 2 parking spaces
Outgoings: body corp levy $2211/year
Outcome: sold vacant for $670,000
Agents: James Marshall & Nick Wilson

Attribution: Auction.

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3 Onehunga commercial sales

Bayleys agents have sold 3 Onehunga commercial properties in separate transactions.

Isthmus east

Onehunga

13 George Terrace:
Features: 1634m² site zoned mixed use, 1132m² industrial building
Outcome: sold for $3 million to a future owner-occupier with one-year lease back to vendor
Agents: James Valintine & William Gubb

305B Neilson St:
Features: 1107m² warehouse, showroom & office unit in corner position, 9-year lease from April 2017 to NZ Brush Co
Rent: $162,474/year net + gst
Outcome: sold for $2.725 million at a 5.96% yield
Agents: James Hill, James Valintine & Sunil Bhana

18 Selwyn St:
Features: 632m²  site zoned mixed use, 1960s building comprising 243m² warehouse/workshop, 100m² garage/workshop & 263m² of residential & office accommodation
Outcome: sold vacant for $1.45 million
Agents: Greg Hall & James Valintine

Attribution: Agency release.

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Block of 3 flats attracts strong auction interest

4 suburban units & cross-leases sold at Barfoot & Thompson’s city residential auction yesterday out of 8 on offer.

They included a block of 3 Onehunga units sold as one lot (pictured), which attracted strong interest.

Isthmus east

Greenlane

33 Wairakei St, unit 3:
Features: 195m² section, 2-level duplex, 3 bedrooms, carport
Outcome: sold for $698,000
Agent: Debbie-Lee Wallace

Mt Wellington

298 Ellerslie-Panmure Highway, unit 3:
Features: house on cross-lease, 1/3 share in 1722m², 3 bedrooms, 2 bathrooms, 2 living rooms, internal-access double garage
Outcome: sold for $1.125 million
Agent: Susan Palmer

Onehunga

Atrium on Main, 287 Onehunga Mall, unit 217:
Features: 142m², 4-bedroom terrace, 2 bathrooms, internal-access garage + covered parking space
Outgoings: body corp levy $5015/year
Outcome: no bid
Agent: Elvira Abdrazakova

74A Trafalgar St, units 1, 2 & 3:
Features: cross-leased into 3 shares of 1087m², brick & tile block of 3 flats, 2 of 2 bedrooms, the other of one bedroom, carport each
Outcome: sold for $2.12 million
Agents: Kay Jagusch & Carolyn Brooks

Isthmus west

Avondale

2 Blumhardt Place:
Features: 325m² section + 1/20 of 256m², 2 levels, 3-bedroom attached house, 2 bathrooms, balcony, garage
Outcome: no bid, back on market at $669,000
Agents: Kris Jamieson

Lynfield

180 Halsey Drive, unit 5:
Features: 228m² section, 2-bedroom townhouse, garage
Outcome: no bid
Agents: Jannette Wouters & Kim Dahya

Mt Albert

1098 New North Rd, unit 5:
Features: cross-lease, 1/3 share in 1722m², 2-bedroom unit, conservatory, garage
Outcome: sold for $705,000
Agent: Elvira Abdrazakova

Mt Eden

69A Landscape Rd, unit 3:
Features: cross-lease, 1/11 share in 1709m², one-bedroom unit, study, carport
Outcome: no bid, back on market at $519,000
Agent: Stephen Chang

Attribution: Auction.

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Ngati Whatua wants East-West Link consents buried

Auckland iwi Ngati Whatua Orakei raised its concern on Friday that the East-West Link through Penrose & Onehunga could go ahead one day, even though the current government has cancelled it.

The $1.85 billion link was intended to run between State Highway 1 at Mt Wellington & State Highway 20 at Onehunga.

The board of inquiry which heard the NZ Transport Agency’s application for it released its draft report & decision on 14 November – by which time new prime minister Jacinda Ardern & Auckland mayor Phil Goff had confirmed it would be cancelled in its present form. The board confirmed 2 notices of requirement and granted resource consents, subject to conditions.

Ngati Whatua Orakei Trust spokesperson Ngarimu Blair said: “While the iwi welcomes the stated aim of the new government to scrap the project, this does not provide a sufficient degree of certainty and Transport Minister Phil Twyford needs to formally honour the Government’s commitment to cancel the project completely.

“The notices of requirement & resource consents have a 15-year period for implementation, and will therefore outlast the current term of government. We want to ensure the East-West Link as proposed never goes ahead, no matter who is in government at the time.

“We have written to Minister Twyford asking that the Government direct the NZ Transport Agency to formally withdraw the notices of requirement and surrender the consents.

“This would avoid the danger of the current government’s intentions being undermined. We note in this regard that the NZ Transport Agency are currently proceeding with moves to implement the project as if nothing had changed post-general election.”

Mr Blair said Ngati Whatua Orakei, Te Kawerau a Maki & Makaurau Marae, along with other community & conservation groups such as The Onehunga Enhancement Society (TOES) and the Royal Forest & Bird Protection Society, went to great expense & effort to stop the motorway during a gruelling 3-month hearing before the Environmental Protection Authority board of inquiry.

Royal Forest & Bird environmental lawyer Sally Gepp said the society was concerned that the decision to grant the consents & designations meant key policies in the brand-new Auckland unitary plan “have been treated as little more than words on a page.

“Forest & Bird played an integral role in ensuring that the unitary plan provides for nature as well as people. We went to the High Court to change the unitary plan – and won – and as a result Auckland’s remaining biodiversity hotspots are protected in the plan. This decision has rendered those protections meaningless.”

Onehunga Enhancement Society chair Jim Jackson commented: “There is no way to now ‘redesign’ the Onehunga/Neilson St interchange end of the East-West Link within the designations & consents supported by the board of inquiry. Those designations & consents have to be scrapped.”

Mr Blair said Ngati Whatua o Orakei opposed the link designed for freight traffic for its “enduring & significant” adverse environmental & cultural effects.

“We look forward to having real input into the Auckland transport alignment project review and will contribute proactively on future sensible options for the Mangere Inlet & Onehunga area. There must be true collaboration amongst all the parties and not a short-sighted singular focus on road building as we’ve seen in recent years,” he said.

Historic Ngati Whatua links

Mr Blair said Ngati Whatua Orakei had a deep & ongoing connection to Te To Waka, Te Papapa, the Mangere Inlet & Onehunga area: “Its direct association with Onehunga dates back to the mid-17th century, while links through marriage connect the iwi to the entire length of the Maori occupation of the area.

“Ngati Whatua resided at Mangere & Onehunga in autumn & winter and, soon after Matariki, would plant & till the extensive gardens in the area. The Rev Samuel Marsden & John Logan Campbell both visited Ngati Whatua at Onehunga and, after the signing of the Treaty of Waitangi, Ngati Whatua Orakei with Waikato iwi were major players in the economy based around the trading port at Onehunga. The iwi moved its main base to Orakei in the mid-19th century.

“Onehunga land was ‘acquired’ from Ngati Whatua Orakei during the period of the Fitzroy waivers (1844-45), when settlers could purchase land directly from Maori vendors, itself a breach of the Treaty of Waitangi. When these transactions were later examined by land commissioners appointed by Governor Grey, the sale of only 8 acres was upheld. Of the remainder, 723a became Crown land and a further 575a were kept by the Crown as defence land – none was made available to the original owners, despite a requirement 10% of land sold was to be kept aside for the benefit of its ‘former’ Maori owners. This historic grievance was settled with Ngati Whatua Orakei in 2012.”

Links:
EPA, East-West link
About the east-west link
Draft report & decision

Attribution: Ngati Whatua release.

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Warehouse sells at auction, but intensive residential sector mired in “no bids”

An Onehunga warehouse sale started Barfoot & Thompson’s regular weekly commercial & apartments auction on a strong footing yesterday, but the entire residential auction market has been much weaker for months.

The apartments segment of the Thursday morning auction saw 2 of the 7 cbd apartments sold under the hammer, one of them a certainty in an auction brought forward.

Over 2 days, of the 26 intensive residential properties I logged (including cross-leases at only one of 3 auction sessions), 7 were sold at auction and one shortly after. 8 attracted no bid, and 2 were withdrawn from auction.

The intensive segment of the market covers a wide spread of homes, from apartments in the city centre to houses on cross-leased sites in suburbia. The steadiest part of that market is the supply of traditional brick & tile suburban units, on either ground level or one up, usually with the parking that many apartments don’t offer, and with less likelihood of the horrendous costs incurred in remediation when leaks are discovered.

Commercial

Isthmus east

Onehunga

126 Captain Springs Rd:
Features: 1012m² site zoned heavy industrial, 402m² warehouse & office  
Outcome: sold for $1.353 million
Agents: James Marshall & Nick Wilson

Apartments

CBD

Federal St

18 Federal St, unit 2F:
Features: fully furnished one-bedroom apartment
Outgoings: body corp levy $3004/year
Outcome: passed in at $375,000
Agents: Elizabeth Khosravi & Hamid Farid

Learning Quarter

8 Airedale St, unit 202:
Features: one-bedroom apartment, balcony
Outgoings: body corp levy $1679/year
Income assessment: $300/week until 16 January
Outcome: no bid
Agent: Annie Xu

Silo, 23 Emily Place, unit 4C:
Features: one-bedroom apartment, balcony
Outgoings: body corp levy $2990/year, parking $829/year
Outcome: pre-auction offer $310,000 acceptable, sold for $320,000
Agents: Stephen Shin & Yasu Ka

Sapphire, 76 Wakefield St, unit 412:
Features: studio
Outgoings: body corp levy $1867/year
Income assessment: $300/week, fixed until February
Outcome: passed in at $202,000
Agents: Selina Zheng & Tommy Zhang

6 Whitaker Place, unit 11A:
Features: 85m², 2-bedroom apartment, 2 parking spaces, 2 storage lockers
Outgoings: body corp levy $8183/year
Income assessment: $650/week current, parking $65/week
Outcome: no bid
Agent: Sam Yang

38A Whitaker Place:
Features: 200m²-plus, 3-bedroom whole-floor penthouse apartment, 2 bathrooms, office, 3 balconies, 3 parking spaces, storage
Outgoings: body corp levy $14,035/year
Outcome: sold post-auction on an “as is, where is” basis
Agents: Carl Madsen & George Damiris

Uptown

132 Vincent St, unit 1F:
Features: 2-bedroom apartment, balcony, secure parking space
Outgoings: body corp levy $5605/year + $595/year for parking
Income assessment: $590/week fixed until April
Outcome: passed in at $675,000
Agent: Betty Shao

Victoria Quarter

Fiore, 152 Hobson St, unit 1206:
Features: 2-bedroom apartment, deck, parking space, storage locker
Outgoings: body corp levy $5235/year
Outcome: sold for $820,000
Agents: Selina Zheng & Tommy Zhang

Isthmus east

Ellerslie

10A Wilkinson Rd, unit 10:
Features: 2-bedroom unit
Outcome: withdrawn from auction
Agents: Rain Diao & Patsy Chen

Greenlane

18 Nolan Rd, unit 6:
Features: cross-lease, 1/7 share in 2567m², 3-bedroom home, 2 bathrooms, double garage
Outcome: sold for $1.305 million
Agents: Maria Lambert & Ann Mushet

Meadowbank

2 Cruickshank Crescent:
Features: cross-lease, half share in 764m² section, 2-bedroom duplex, carport
Outcome: passed in
Agents: John Yang & Sidney Chan

Onehunga

9 Clarke Rd, unit 1:
Features: 2-bedroom unit, carport
Outcome: sold for $738,000
Agent: Paul Hodgman

One Tree Hill

64 Rawhiti Rd, unit 6:
Features: 2-bedroom unit, internal access garage, storage
Outcome: passed in
Agents: Helen Lam & Wendy Sadd

89 Rawhiti Rd, unit 4:
Features: 3-bedroom unit, garage
Outcome: no bid, back on market at $1.195 million
Agent: Paul Hodgman

Remuera

Broadway Park, Ascot, 8 Middleton Rd, unit 202:
Features: 164m², 3-bedroom apartment, 2 bathrooms, patio, double garage, storage locker
Outgoings: body corp levy $8428/year
Outcome: no bid
Agent: Shirley Shen

St Heliers

Raeburn Court, 1 Cliff Rd, unit 2:
Features: 2-bedroom apartment, carport
Outcome: passed in
Agents: Wendy Sadd & Michele Ballinger

Raeburn Court, 1 Cliff Rd, unit 5:
Features: 2-bedroom garden apartment, carport
Outcome: no bid, back on market at $1.225 million
Agent: Karin Cooper

Isthmus west

Blockhouse Bay

7 Heaphy St, unit 2:
Features: cross-lease, 1/3 share in 1533m², 3-bedroom house, 2 bathrooms, internal-access double garage
Outcome: sold for $1.09 million
Agents: William & Simon MacLean

Freemans Bay

46C Beresford St:
Features: 3-level 3-bedroom townhouse, study, balcony, double garage
Outgoings: rates $2295/year including gst; body corp levy $2905/year
Outcome: no bid, back on market at $1.048 million
Agent: Shawn Shao

Grey Lynn

19 Maxwell Avenue:
Features: cross-lease, half share in 788m², 4-bedroom house, 2 bathrooms, offstreet parking
Outcome: passed in
Agents: Matt O’Rourke & Ryan Harding

Hillsborough

81 Hendry Avenue:
Features: cross-lease, half share in 898m², 5-bedroom house, 3 bathrooms, basement garage + offstreet parking
Outcome: no bid
Agent: Kelly Zhang

Mt Albert

71 Asquith Avenue, unit 1:
Features: 2-bedroom unit, carport
Outcome: passed in, back on market at $679,000
Agent: Kevin Liu

1 Hendon Avenue, unit 1:
Features: 3-bedroom unit, garage
Outcome: withdrawn from auction
Agent: Lily Wang

St Lukes

47 St Lukes Rd, unit 1:
Features: 2-bedroom unit, garage
Outcome: sold for $630,000
Agents: Scott Larsen & Fiona Ryan

Three Kings

14 Clinker St:
Features: cross-lease, half share in 1014m², 116m² 3-bedroom house, basement garage
Outcome: sold for $822,000
Agent: Cheryl Martin

North-east

Hillcrest

7A Almadale Place:
Features: cross-lease, half share in 908m², 3-bedroom house, double carport
Outcome: no bid, back on market at $859,000
Agent: Cheryl Martin

Attribution: Auctions & auction documents.

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4 suburban townhouses sell

4 suburban townhouses & units were sold at Bayleys auctions around Auckland last week.

Isthmus east

Onehunga

97A Mays Rd:
Features: 80m², 2-bedroom townhouse
Outcome: sold for $600,000
Agents: Cherry Killgour & Steve Leyland

Isthmus west

Eden Terrace

33P New North Rd:
Features: 110m², 2-level 2-bedroom townhouse, 2 secure covered parking spaces
Outcome: sold for $741,000
Agents: Cherry Killgour & Steve Leyland

South

Farm Cove

7B Butley Drive:
Features: 3-bedroom unit, internal-access garage
Outcome: sold for $780,000
Agent: Jenny Benoy

Howick

94 Cook St:
Features: 2 cross-lease titles totalling 1348m², 3 one-bedroom units on one title, all with parking, 3-bedroom home & garage on other title
Outcome: sold for $2.1 million
Agent: Jenny Benoy

Attribution: Agency release

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One commercial sale from 4 auctioned

One of the 4 commercial properties auctioned at Barfoot & Thompson yesterday was sold under the hammer.

Isthmus east

Onehunga

123 Onehunga Mall:
Features: 126m² site, 118m² building, dual access, parking space
Rent: $24,700/year net + gst
Outcome: sold for $566,000
Agents: Nick Wilson & James Marshall

Parnell

363 Parnell Rd:
Features: 332m² site, 2-storey character building, ground-floor restaurant on 4-year lease from May 2016, 2 4-year rights of renewal, and 2-bedroom flat upstairs leased for one year from March 2017, 153m² building site at rear
Rent: $52,600/year net + gst from restaurant, $575/week from flat
Outcome: no bid
Agent: Marie-Anne Molloy

North

Paihia

33 North Rd:
Features: 8514m² site, building area about 4000m², vacant 75-room hotel with conference area, licensed restaurant, 4-bedroom manager’s quarters; resource consent issued for conversion to aged-care facility, 66 delineated parks & 3 bus parks   
Outcome: no bid
Agent: Marie-Anne Molloy

North-east

Silverdale

23 Wainui Rd, unit 2C:
Features: 323m² purpose-built food manufacturing & retail outlet         
Outcome: passed in at $1.3 million
Agents: Bruce Jiao & David Goodhue

Attribution: Auction.

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Onehunga warehouse sells at auction

An Onehunga warehouse (outlined in blue in photo) was sold at Colliers’ auction today, but a Milford property with potential upstairs development was passed in.

Isthmus east

Onehunga

51 Angle St:
Features: 556m² site zoned heavy industry, 413.8m² warehouse, 45.1m² office
Outcome: sold vacant for $1.345 million
Agents: Jeremy Barnett & Ben Cockram

North-east

Milford

83-85 Kitchener Rd:
Features: 261m² site, 295.7m² floor area, 2 first-floor apartments consented, 4 parking spaces
Rent: $98,000/year net from 2 ground-floor tenants, potential additional residential rent of $50,000/year
Outcome: passed in
Agents: Mike Ryan, Euan Stratton & Matt Prentice

Attribution: Auction documents.

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Updated: Takapuna properties bought on development-based yields as 9 sell at Bayleys’ commercial auction

Published 26 October 2017, updated 28 October 2017:
Bayleys’ 7th Total Property commercial auction in Auckland for the year ended with 9 properties sold, 8 passed in, and the auction of the one remaining property on the list was deferred a week. Another, in Birkenhead, has been sold post-auction.

The sales included 2 adjoining converted houses (pictured) on Lake Rd, Takapuna, sold at yields on present uses of 2.7% & 4.1%. Both have more intensive development potential.

CBD

Waterfront

Sebel, 85-93 Customs St West, unit S:
Features: leasehold, 628m² floor area, tenant Soul Bar on 9-year lease + rights of renewal until 2038
Rent: $437,500/year net + gst + outgoings including ground rent, rent reviews to CPI + fixed increases
Outcome: passed in
Agent: Mark Pittaway

16 Viaduct Harbour Avenue, unit 1A, ground floor:
Features: leasehold, 439m² office including balcony, 5 secure covered parking spaces
Rent: $248,500/year gross + gst, net $124,026/year + gst, 6-year lease to Auckland Council with rights of renewal
Outcome: passed in
Agent: Mark Pittaway

Isthmus east

Onehunga

360 Onehunga Mall:
Features: 538m² site zoned residential – terrace housing & apartment building, 2-level 341m² building constructed in 2010, ground-floor liquor store, 4-bedroom accommodation above
Rent: $93,712.50/year net + gst
Outcome: sold for $1.96 million at a 4.78% yield
Agents: Ken Lu, Damien Bullick & Alan Haydock

Panmure

100 Queens Rd:
Features: 979m² site, 1701m² floor area, multi-tenanted retail property
Rent: $131,181/year net + gst + outgoings, rising to $139,432/year next April 
Outcome: auction deferred until Wednesday 6 December
Agent: Mark Pittaway

Penrose

766 Great South Rd:
Features: 998m² site, 300m² single-level medical clinic, multiple tenants include GP practice, physiotherapist, occupational therapist & accountant
Rent: $65,050/year net + gst
Outcome: sold for $1.065 million at a 6.11% yield
Agents: Tony Chaudhary, Janak Darji, James Hill & James Chan

25 Walls Rd:
Features: 1037m² light industry-zoned site, 702m² high stud warehouse & office building, new 6-year lease to well established import & distribution tenant
Rent: $106,302/year net + gst     
Outcome: sold for $2.305 million at a 4.61% yield
Agents: Mike Adams & Phil Haydock

Isthmus west

Mt Eden

54 Mt Eden Rd:
Features: 400m² site zoned mixed use, in Grammar zone, 130m² villa, garage + 3 parking spaces
Outcome: passed in at $1.4 million
Agents: Alan Haydock, Phil Haydock & Damien Bullick

North-east

Birkenhead

221-225 Hinemoa St:
Features: 522m² floor area, medi-spa & beauty salon a tenant since 2004 & on new 5-year lease, 2 small shops, penthouse apartment
Rent: $122,304/year net + gst from commercial premises, apartment vacant
Outcome: passed in at $3.5 million
Agents: James Kidd & Michael Nees

Updated: 60-62 Mokoia Rd:
Features: 405m² site in town centre zone (21m height limit) retail strip, 744m² floor area, 3 tenants
Rent: $131,018.33/year net + gst + outgoings
Outcome: passed in at $2.2 million, sold shortly after auction for $2.3 million at a 5.7% yield
Agents: Michael Nees & Nick Howe-Smith

Takapuna

58-60 Jutland Rd:
Features: 371m² site zoned neighbourhood centre (13m height limit), 398m² 2-level building with mix of commercial & residential tenancies – 3 ground-floor retail units, anchored by a superette, 2 flats above; secondary access at the rear, where there are 4 parking spaces
Rent: $100,088/year net + gst current, development upside   
Outcome: sold for $2.09 million at a 4.79% yield
Agents: Adam Curtis, Damian Stephen & Nick Howe-Smith

398 Lake Rd:
Features: 888m² site in mixed use zone, 321m² 2-level building; the Skin Institute has occupied the premises since 1994 and has recently renewed its lease until September 2023, with 3 further 3-year rights of renewal; zoning provides potential for residential accommodation with sea views on top of commercial base
Rent: $165,000/year/net + gst    
Outcome: sold for $4.04 million at a 4.08% yield
Agents: Ranjan Unka, Tonia Robertson & Ashton Geissler

400 Lake Rd:
Features: 890m² site zoned mixed use, 272m² converted split-level character residential building, fully leased to long established law firm Turner Hopkins with 5½ years to run on lease, longer-term potential for multi-level redevelopment
Rent: $96,000/year net + gst
Outcome: sold for $3.61 million at a 2.66% yield
Agents: Tonia Robertson, Ranjan Unka & Terry Kim

North-west

Henderson

42 Paramount Drive, units 6 & 7:
Features: 280m² for 2 units consented for restaurant use, separate entrances, in retail complex off Lincoln Rd
Outcome: sold vacant for $1.408 million
Agents: David Han, Terry Kim & Matt Lee

South

Beachlands

40 9th View Avenue:
Features: 1416m² site zoned residential – terrace housing & apartment building, opposite entranceway to Pine Harbour marina, modern 640m² single-level showroom building;
Rent: $36,443/year holding income
Outcome: sold for $1.65 million from lease to Pine Harbour Motorsport Museum
Agents: Nick Bayley & Dave Stanley

East Tamaki

46 Neilpark Drive:
Features: 2100m² site, 2 adjoining clearspan warehouse & office units totalling 1012m²
Rent: $110,000/year net + gst holding income from short-term leaseback of both units to vendor
Outcome: sold shortly after auction for $2.65 million
Agents: Katie Wu, John Bolton & Roy Rudolph

Papakura

80 Hunua Rd, lot 2:
Features: 9453m² site, 6302m² warehouse
Rent: $360,000/year net + gst     
Outcome: passed in at $4 million
Agents: Shane Snijder & Peter Migounoff

Wiri

55 Ash Rd, unit 4:
Features: 200m² unit in industrial precinct, parking
Rent: $28,600/year net + gst
Outcome: passed in at $625,000
Agents: Karl Price & Nick Bayley

South of the Bombays

Manawatu – Dannevirke

69 High St:
Features: 617m² site, 693m² building, long-term tenant Westpac on new 5-year lease, 3 more 3-year rights of renewal, second tenant Cooly Properties Ltd on one-year lease to end of next year
Rent: $59,000/year net + gst from bank, $30,000/year net + gst from second tenant
Outcome: no bid
Agent: Rollo Vavasour

Attribution: Auction.

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