Archive | Parnell

Eden Terrace deal leads JLL metro year-end sales

JLL’s Auckland metro team ended 2017 with 6 sales on the east & west of the isthmus, in Eden Terrace, Grey Lynn, Herne Bay & Parnell.

They included the $6.8 million sale of a Porters Avenue property in Eden Terrace (pictured).

Isthmus east

Parnell

10 Augustus Terrace, units 2a & 2b:
Features: 2 office units totalling 246m², 8 parking spaces
Rent: $86,000/year net
Outcome: both sold in December for $1.53 million + gst at a 5.6% yield
Agent: Ben Jamieson

15 Bath St:
Features: 375m² mixed-use site, 539m² office building, 14 parking spaces
Rent: $225,000/year net
Outcome: sold in December for $4.2 million + gst at a 5.35% yield
Agent: Ben Jamieson

Isthmus west

Eden Terrace

1A Porters Avenue:
Features: 3371m² site zoned mixed use, 2760m² warehouse, workshop & office
Outcome: sold to an owner-occupier with vacant possession for $6.8 million
Agents: Jarred Hill, Alex Wefers & Nick Cape

Grey Lynn

41C Crummer Rd:
Features: 92m² office unit, 23m² deck, 2 secure parking spaces
Outcome: sold for $624,000, reflecting $6783/m² floor area
Agents: Alex Wefers & Tom Dobier

28 Monmouth St:
Features: 332m² vacant land in mixed-use zone
Outcome: sold to developer for residential purposes for $1.18 million + gst, reflecting $3554/m²
Agent: Alex Wefers

Herne Bay

204-208 Jervois Rd:
Features: 491m² multi-tenanted property, 832m² floor area, hospitality & office tenants
Rent: about $318,000/year net
Outcome: sold for $6.3 million + gst, reflecting a 5.0% yield
Agent: Alex Wefers

Attribution: Agency release.

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2 apartments, townhouse & 2 land sales at Barfoot auctions

2 apartments were sold and 2 (plus a city fringe bungalow) passed in at Barfoot & Thompson’s city auction today.

At 2 auction sessions yesterday, the agency sold a Grafton townhouse, and a subdivided Victoria Avenue lot and an ex-state house in Remuera.

CBD

Learning Quarter

Tower Hill (pictured), 1 Emily Place, unit 11E:
Features: 60m², one bedroom, parking space
Outgoings: rates $1825/year including gst; body corp levy $4064/year
Outcome: sold for $645,000
Agents: Stephen & Leo Shin

Sapphire, 76 Wakefield St, unit 1212:
Features: 23m² studio
Outgoings: rates $1019/year including gst; body corp levy $2119/year
Income assessment: $330/week current
Outcome: sold for $275,000
Agents: Betty Shao & Donna Rugay

Argent Hall, 2 Eden Crescent, unit 8E:
Features: 31m² studio
Outgoings: body corp levy $3158/year
Outcome: passed in at $250,000
Agents: Stephen & Leo Shi

Isthmus east

Epsom

Ivory, 10 Lion Place, unit 214:
Features: one bedroom, balcony
Outcome: auction postponed
Agents: Stephen Shin & Rhys Chen

Grafton

8K Glasgow Terrace:
Features: 2-level townhouse, one bedroom, study, storage locker, double garage
Outgoings: body corp levy $2535/year
Outcome: sold for $700,000
Agents: Bella Stefano & Sherry Shao

Parnell

11 Balfour Rd, unit 3:
Features: one-bedroom unit on ground floor of 3-storey block, parking space
Outcome: sold at auction brought forward to 1 December
Agent: Alex Baker

13 Cheshire St, unit 102:
Features: one-bedroom apartment, balcony, parking space
Outgoings: body corp levy $2795/year
Outcome: no bid
Agents: Qiao Liu & Harry Yu

Remuera

310 Victoria Avenue, lot 3:
Features: 619m² section
Outcome: sold for $2.66 million at $4297m² land; the other 2 lots down this right of way have already been sold
Agents: Leila & David MacDonald

88 Abbotts Way:
Features: 613m² section, 3-bedroom 1950s ex-state house, single garage
Outcome: sold for $1.166 million
Agents: Steve Hood

Isthmus west

College Hill

80 College Hill:
Features: 230m² section, 2 vacant self-contained units in a bungalow, consented for 2 flats but both used as a single office, rear service lane access & parking
Outcome: no bid
Agents: Agnes Teh & Layne Stephens

Mt Eden

18 Edenvale Crescent, unit 6:
Features: one bedroom, parking space, storage
Outgoings: body corp levy $2930/year
Outcome: no bid
Agent: Andrew Gallagher

Attribution: Auctions.

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Section’s potential becomes more of an issue in residential market

As more of Auckland’s unitary plan has become operative this year, awareness has grown of the changes in residential land potential, and therefore potential value.

Real estate agencies will frequently list properties for auction which may/may not have a house on site, but will be promoted for their development potential rather than the value of those existing improvements.

Sale based on that potential redeveloped value means there will be a steady supply of sites throughout suburbia gaining consents for intensification – perhaps 4 townhouses where there was once a single house. In some areas aggregation of sites may make sense, such as in or near a shopping centre, to enable development of apartments.

The drawback is that we are a nation of close to zero experience of apartment living until the 1990s, unlike Australia, where the 3-floor walkup (no lift required if you kept development below 4 levels) became commonplace in Sydney, in particular.

New Zealand’s one experiment in suburban intensification was the “sausage block” of brick & tile units – flats, usually only on ground level but sometimes with a second layer.

They differ from central city apartments in that they generally have some parking provision, and their construction isn’t nearly as expensive as multi-level apartment blocks. Remedial requirements may be confined to the affected unit/s, rather than being spread across multiple owners as happens in apartment blocks.

Pricing will dictate that the trend to intensification continues, offering a choice between more travel & having closer neighbours.

In my auction reports over the last couple of years I’ve paid particular attention to apartment sales because they’re as much an investment product as a home. Standalone houses, on the other hand, have been more an owner-occupier product, with investors holding under 30% of stock until the onslaught over the last 5 years by foreign investors looking for assets they can quickly convert cash into. That onslaught (not all foreign, but at prices boosted by foreign investors looking for quick conversion) has helped lift the investor holding in housing stock closer to 40%.

Now, with intensification of land use likely to spread and become more widely accepted as a norm, residential land prices will become more significant.

Intensification will be priced in – as a general rule – thereby also pushing the prices of standalone homes up, although there’s a lull at the moment after heavy overbuying by foreign investors, speculators, and the least powerful investors of all, first-homebuyers.

Auction results

At Bayleys’ residential auctions around Auckland last week, 3 properties were sold for their land potential, including one a couple of sections back from the water at Whitianga.

CBD

Uptown

8 Scotia Place, unit 7F:
Features: one-bedroom apartment, parking space; remedial issues, start date set
Outcome: auction postponed
Agents: Marcus Fava

Isthmus east

Glendowie

2 Navarre Rd:
Features: 802m² corner site, zoned residential mixed housing urban, existing house a 3-bedroom 1950s bungalow
Outcome: sold for $1.566 million at $1953/m²
Agents: Dean Markle & Jill Murphy

Mt Wellington

19 Ferndale Rd:
Features: 2 bedrooms, double garage
Outcome: sold for $708,000
Agents: Richard Griffin & Pheon Hung

Parnell

27 St Stephens Avenue, unit 3:
Features: 1057m² section, 138m² 3-bedroom townhouse, 2 bathrooms, deck, courtyard, double internal-access garage
Outgoings: rates $3100/year including gst
Outcome: sold for $1 million
Agent: Fleur Denning

North-west

Te Atatu Peninsula

5 Peachgrove Rd:
Features: 809m² flat site, zoned terrace housing & apartment, 3-bedroom house
Outcome: sold for $1.115 million at $1378/m² land
Agents: Tina Tang & Ryan Steven

South of the Bombays

Whitianga

4 Marlin St:
Features: vacant 579m² section near beach
Outcome: sold for $420,000 at $725/m²
Agents: Bev Calder & Sheree Henderson

Attribution: Agency release, my comments.

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14 of 36 intensive homes sell through auction

14 intensive homes sold in the auctionroom or shortly after, out of 36 offered at Barfoot & Thompson’s city office in 6 sessions from Tuesday-Thursday this week.

They were a mix of cbd & suburban apartments, suburban units & townhouses, and some cross-leases (I ignore standalone homes not on cross-lease sections, and also didn’t manage to check for cross-leases at every auction session).

Many were passed in without a bid offered, and were back on the market soon after with a price stipulated.

Image above: The Ivory, Conrad Properties’ new apartment development just off the new university campus on the former Lion Nathan brewery site on Khyber Pass Rd, and back from Newmarket Broadway – the new style of suburban intensive living.

CBD

Learning Quarter

Seaview, 4 Short St, unit 7A:
Features: 143m², 3 bedrooms, 2 bathrooms, deck, parking space; vendor to pay roof repair levy in full
Outgoings: body corp levy $8542/year
Outcome: passed in at $700,000, back on market at $968,000
Agents: Annie Xu & Sean Zhang

Sapphire Apartments, 76 Wakefield St, unit 307:
Features: 33m², one bedroom apartment
Outgoings: rates $1110/year including gst; body corp levy $2270/year after 10% discount
Income assessment: $380/week
Outcome: sold for $338,000
Agents: Annie Xu & Sean Zhang

Sapphire Apartments, 76 Wakefield St, unit 610:
Features: 60m², 2-bedroom apartment
Outgoings: rates $1435/year including gst; body corp levy $4340/year
Outcome: passed in at $485,000
Agents: Stephen Shin & Zoran Farac

Uptown

Q Central, 58 Liverpool St, unit 6D:
Features: leasehold, 2-bedroom penthouse loft
Outgoings: rates $1436/year including gst; body corp opex levy $3727/year, ground rent $8049/year
Income assessment: $600-640/week
Outcome: sold for $127,000
Agents: Stephen & Leo Shin

Victoria Quarter

Heritage Tower, 22 Nelson St, unit 1119:
Features: air-conditioned one bedroom, covered parking space, out of hotel pool, remedial work on building is underway
Outgoings: rates $/year including gst; body corp levy $/year
Income assessment: $/week
Outcome: no bid, back on market at $435,000
Agents: Alexander Kramarenko & Luke Shi

Zest, 72 Nelson St, unit 512:
Features: 2-bedroom apartment
Outcome: withdrawn from auction
Agent: James Yu

Isthmus east

Ellerslie

43 Celtic Crescent, unit 4:
Features: 2-bedroom unit, carport
Outcome: sold post-auction
Agent: Michelle Mi

Epsom

8 Bowling Avenue, unit 2:
Features: 72m², 2-bedroom unit, garage
Outcome: sold for $836,000
Agents: Mike Pedersen

87 Buckley Rd:
Features: cross-lease, half share in 1012m², 3-bedroom house, double garage
Outcome: sold post-auction
Agents: Paul Hodgman

Ivory, 10 Lion Place, unit 403:
Features: 65m² including balcony, 2-bedroom apartment, 2 bathrooms
Outcome: sold for $745,000
Agent: Cici Wang

44 St Andrews Rd, unit 8:
Features: studio
Outcome: sold for $388,000
Agent: Leonie Stabler

Meadowbank

128A St Johns Rd, unit 2:
Features: 2-bedroom unit, conservatory, double carport
Outcome: sold for $820,000
Agents: Kathy Bower & Julie Fitzpatrick

Mt Wellington

27 Stanhope Rd:
Features: cross-lease, half share in 809m², 3 bedrooms, garage
Outcome: sold for $927,000
Agent: Melody Lowe

Newmarket

Queen’s Lodge, 176 Broadway, unit B409:
Features: 2-bedroom apartment, 2 bathrooms, parking space
Outcome: passed in
Agents: Amy Ho & Jonas Ho

One Tree Hill

2 Ewenson Avenue, unit 4:
Features: cross-lease, 1/7 share in 1510m², 2 bedrooms, balcony, carport
Outcome: passed in at $500,000, back on market at $605,000
Agent: Robin Liu

41 Tawhiri Rd, unit 4:
Features: 2-bedroom unit, parking space
Outcome: sold for $755,000
Agent: Wendy Sadd

Parnell

Freemont Towers, 11 Freemont St, unit 13:
Features: 1960s apartment block, 50m², one bedroom, offstreet parking
Outcome: sold for $660,000
Agent: Ian Griffiths

Mayfair, 75 Parnell Rd, unit 12A:
Features: 62m², one-bedroom apartment
Outgoings: body corp levy $5901/year
Outcome: no bid
Agent: Melody Lowe

21 York St:
Features: m², 3-bedroom terrace, study, balcony, conservatory, offstreet parking
Outcome: no bid, back on market at $1.85 million
Agent: Bobby McMillan

Remuera

82D Clonbern Rd:
Features: cross-lease, 5/56 share in 4799m², 2-level townhouse, 3 bedrooms, study, double carport
Outcome: passed in at $1.1 million
Agents: Min Kim

731D Remuera Rd:
Features: 3-bedroom townhouse, 2 bathrooms, study, double internal-access garage
Outcome: no bid, back on market at $880,000
Agent: Alex Baker

Royal Oak

49 Turama Rd, unit 4:
Features: 2-bedroom 1970s brick & tile unit, internal-access garage
Outcome: passed in
Agents: James Yu & Danny Upton

St Heliers

10 Maxine Place, unit 3:
Features: 3-bedroom unit, 2 bathrooms, garage
Outcome: passed in
Agent: Bob Gordon

7 Walmsley Rd, unit 2:
Features: 130m² townhouse, 3 bedrooms, garage
Outcome: no bid, back on market at $1.289 million
Agents: Kelly Midwood & Hamish Hargrave

Isthmus west

Avondale

16 Highbury Avenue, unit 5:
Features: 2-bedroom 1960s unit
Outcome: passed in, back n market at $585,000
Agents: Anna Lechtchinski & Alex Wu

Blockhouse Bay

143 Donovan St:
Features: cross-lease, half share in 1020m², 3-bedroom house, carport
Outcome: no bid, back on market at $939,000
Agent: Kris Jamieson

Eden Terrace

Viscount, 33D(R) New North Rd:
Features: 110m², 2-level, 2-bedroom terraced apartment
Outcome: withdrawn from auction
Agent: Sue Saywell

Grey Lynn

497 Great North Rd:
Features: 3-level 4-bedroom terrace, 2 bathrooms
Outcome: sold post-auction
Agents: Cristina Casares

Mt Albert

22 5th Avenue, unit 4:
Features: cross-lease, quarter share in 1147m², 2-bedroom unit, carport
Outcome: sold for $715,000
Agents: Wendy Sadd & Michele Ballinger

65 Woodward Rd, unit 5:
Features: 2 bedrooms, carport
Outcome: sold for $718,000
Agents: Christine Wooding & Joanne Yu

Mt Eden

277 Mt Eden Rd, unit 3:
Features: cross-lease, 1/10 share in 1120m², 66m² 2-bedroom unit, garage
Outgoings: body corp levy $5000/year
Income assessment: $480/week, fixed until 30 December
Outcome: no bid, back on market at $695,000
Agents: Annie Xu & Sean Zhang

573C Mt Eden Rd:
Features: 243m² section, 209m², 4 bedrooms, 3 bathrooms, double garage
Outcome: no bid
Agents: Ricky Fan & Joyce Gu

584 Mt Eden Rd:
Features: 575m² section, 348m², 2-level townhouse, 5 bedrooms, 3 bathrooms, double internal-access garage
Outcome: passed in at $2.9 million
Agent: Helen Lam

Waterview

1594 Great North Rd, unit 2:
Features: cross-lease, quarter share in 1196m², 3-bedroom unit, garage
Outcome: no bid
Agent: Elvira Abdrazakova

North-west

New Lynn

6 Islington Avenue, unit 2:
Features: 184m², 4-bedroom duplex townhouse, 3 bathrooms, tandem internal-access garage (one space turned into a gym)
Outcome: no bid
Agents: Aken Yuan & Michelle Zhou

South

Mangere Bridge

16D Coronation Rd:
Features: 3-bedroom 1970s brick & tile unit, garage
Outcome: no bid
Agents: Danny Upton & James Yu

Attribution: Auctions.

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Updated: 3 sell out of 10-apartment offering, 4th sells shortly after

Published 24 November 2017, updated 28 November 2017:
3 of the 10 apartments & suburban units auctioned at Ray White City Apartments on 23 November sold under the hammer. A fourth, in the Soho Lofts, was sold shortly after the auction.

CBD

High St

Updated: Soho Lofts, 55 High St, unit 6A:
Features: 196m², 2 bedrooms, study, 2 bathrooms, 2 parking spaces in separate building, 155 Queen St
Outgoings: rates $2435/year including gst for apartment, $1356 & $769/year for parking; body corp levy $8815/year for apartment, $1482/year including gst for each parking space; vendor indemnified buyer against liability for any outstanding remediation work, to finalise code compliance certificate & for any further litigation costs
Outcome: passed in after bids up to $1.185 million, closing with vendor bid at $1.25 million; a sale was concluded later in the day at $1.25 million
Agents: Josh Muriwai & Liz McCarthy

Learning Quarter

Celestion, 19 Anzac Avenue, unit 1402:
Features: 50m², furnished 2 bedrooms, 10m² balcony
Outgoings: rates $1448/year including gst; body corp levy $4725/year
Income assessment: vacant – outside hotel lease
Outcome: passed in at $496,000
Agents: Michelle & Judi Yurak

96 on Symonds, 96 Symonds St, unit 502:
Features: 45m², fully furnished 3 bedrooms
Outgoings: rates $1201/year including gst; body corp levy $4783/year
Income assessment: $650/week fixed until March – out of apartment management pool; appraisal $650-680/week
Outcome: sold for $501,000
Agents: May Ma & Mark Li

Uptown

Nova en Scotia, 18 Scotia Place, unit 9G;
Features: 51m², 2 bedrooms, secure parking space & storage locker
Outgoings: rates $1513/year including gst; body corp levy $4953/year
Income assessment: vacant – appraisal $470-500/week in present condition, $500-550/week renovated
Outcome: sold for $542,500
Agents: Mitch Agnew & Ryan Bridgman

Victoria Quarter

Sugartree Centro, 145 Nelson St, unit 801:
Features: 42m², one bedroom, 4.6m² balcony
Outgoings: body corp levy $2375/year
Income assessment: $480-520/week furnished
Outcome: no bid
Agents: Lisa Zhang

Isthmus east

Epsom

Ivory, 10 Lion Place, unit 201:
Features: 103m², 3 bedrooms, 2 bathrooms, balcony, 2 secure basement parking spaces, 2 storage units
Outgoings: body corp levy $4172/year
Outcome: sold for $1.386 million
Agents: Tanya Kwasza & Andrea Manni

Parnell

Stonemason’s House, 27 Falcon St, unit 3C:
Features: 53m², one bedroom, mini Juliette balconies
Outgoings: rates $1633/year including gst; body corp levy $3291/year
Outcome: passed in at $420,000
Agents: Tanya Kwasza & Andrea Manni

Isthmus west

Eden Terrace

43 Virginia Avenue East, unit 104:
Features: 61m², fully furnished 2 bedrooms, deck, secure basement parking space
Outgoings: rates $1246/year including gst; body corp levy $4195/year
Income assessment: $500/week, fixed until September 2018, appraisal $500-550/week furnished
Outcome: passed in at $350,000
Agents: May Ma & Mark Li

Sandringham

10 Begbie Place, unit 7:
Features: cross-lease, 1/8 share in 1310m², 44m² unit, one bedroom
Outgoings: rates $1451/year including gst
Income assessment: $315/week unfurnished
Outcome: vendor bid at $300,000, passed in at $301,000
Agents: Dusan Valenta & Adele Keane

North-west

Te Atatu South

59 Royal View Rd, unit 2:
Features: 3 bedrooms, garage
Outgoings: rates $1723/year including gst
Outcome: offered on “as is, where is” basis, passed in at $605,000
Agents: Zarlane & Bernie Grubisic

Attribution: Auction.

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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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One apartment among 8 residential sales at auction

One apartment sold at Bayleys’ auction on Wednesday and one passed in as the auctioneer did all the bidding on it.

For a new apartment in the One Three Cheshire development in Parnell, and with a dwindling audience at the end of a 12-property auction list, auctioneer Daniel Coulson opened the bidding with an $800,000 indicator – which is all a “vendor bid” really can be – then took it to $850,000, and followed with a comment that “It’s not for sale at $950,000 either”.

Shortly after the auction closed, this unit was listed with an asking price close to $1.2 million. Taking out $80,000 for each parking space (which is not silly money in a market where the value of inner-city carparking remains extremely high), that would price the apartment on internal space at $12,400/m², falling to $11,250/m² if balcony space was included.

In the market of 2016 heading into 2017, those prices for new apartments weren’t ridiculous. But silence is deadly in an auctionroom, and finance & competition conditions have changed drastically.

The apartment that did sell, a larger but low-level unit in a conversion on St Martins Lane, above Grafton Gully, went for about $7500/m², possibly reduced in value by having only one parking space.

Those pricing gauges are checked far more closely in the apartment markets than for standalone houses, and overall the success rate at this auction was high – 8 properties sold out of the 12 on offer, including one large refurbished house with its own pool sold for $3.5 million after negotiations lifted the final bid by $240,000.

CBD

Uptown

2 St Martins Lane, unit 1C:
Features: about 120m², 3 bedrooms, 2 bathrooms, floor-to-ceiling wraparound windows, parking space, storage room, pet-friendly
Outgoings: body corp levy $9353/year
Outcome: sold for $970,000
Agents: Julie Prince & Diane Jackson

Isthmus east

Parnell

One Three Cheshire, 13 Cheshire St, unit 303:
Features: 83m² internal, 8.45m² deck, 2 bedrooms, 2 bathrooms, tandem parking
Outgoings: body corp levy $5214/year
Outcome: passed in after vendor bids at $800,000 then $850,000, back on market with asking price of $1.189 million
Agent: Suzie Paine

Attribution: Auction.

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New Lynn corner property sells

A commercial property in New Lynn was sold under the hammer, a Parnell apartment was passed in and a Herne Bay property with rezoned potential was withdrawn from auction at Bayleys’ auctions around Auckland last week.

Apartments

Isthmus east

Parnell

6 Brighton Rd, unit 11:
Features: one-bedroom apartment, study nook
Outgoings: rates $1687/year including gst
Outcome: passed in
Agents: Chris Reeves & Fleur Denning

Commercial

Isthmus west

Herne Bay

185 Jervois Rd:
Features: 508m² site zoned terraced housing & apartment buildings, 154m² floor area,  medical-related tenant
Rent: $75,000/year net + gst
Outcome: withdrawn from auction
Agents: Scott Kirk & James Were

North-west

New Lynn

1 Crum Avenue:
Features: 607m² corner site zoned business light industry, 360m² building, 2 retail & industrial tenancies
Rent: $46,000/year from 2 tenancies
Outcome: sold for $1.305 million at a 3.5% yield
Agents: Mike Adams & Simon Davies

Attribution: Agency release.

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4 apartment & unit sales out of 13 on offer, one commercial sale under the hammer

Of 14 apartments, townhouses & units auctioned at Barfoot & Thompson’s city office over the last 2 days, 3 sold under the hammer and one post-auction, and one was withdrawn.

The one commercial property auctioned at yesterday’s regular apartments & commercial session, a shop in the Mt Roskill village, was sold under the hammer.

Apartments, townhouses & units:

CBD

Learning Quarter

Statesman, 1 Parliament St, unit 1305:
Features: one-bedroom apartment, balcony
Outgoings: body corp levy $3532/year
Outcome: sold for $508,000
Agent: Sarah Zhang

Uptown

39 Pitt St, unit 25:
Features: 2-bedroom apartment, covered parking space
Outgoings: body corp levy $2096/year + special levy this year $1499 for painting
Outcome: passed in
Agents: Luke Shi & Alexander Kramarenko

Victoria Quarter

Fiore on Hobson, 152 Hobson St, unit 205:
Features: one-bedroom apartment, balcony
Outgoings: body corp levy $2682/year
Outcome: passed in, back on market at $379,000
Agents: Livia Li & Alan Guo

Isthmus east

Epsom

5 Bloomfield Place:
Features: 2-level 4-bedroom unit, 2 bathrooms, offstreet parking
Outcome: no bid, sold post-auction
Agents: Frances Li & Ian Thornhill

30 Kimberley Rd, unit 4:
Features: 2-bedroom ground-floor unit, offstreet parking space
Outcome: no bid, back on market at $599,000
Agent: Cici Wang

One Tree Hill

133 Campbell Rd, unit 3:
Features: 2-bedroom unit, garage
Outcome: sold for $750,500
Agents: Tommy Joseph Fernandez & Kathi Yuen

Parnell

Dakota, 5 Cheshire St, unit 3J:
Features: 74m², 2-level 2-bedroom apartment, 2 bathrooms, secure parking space
Outcome: sold for $811,500
Agent: Steve Su

11 Dovedale Place:
Features: leasehold, reclad 3-bedroom townhouse, 2 bathrooms, single internal-access garage, code compliance certificate to be issued before settlement
Outcome: no bid
Agent: Gill Macdonald

Remuera

Stonecrest, 707 Remuera Rd, unit 3C:
Features: 3-bedroom apartment, 2 bathrooms, deck, 3 parking spaces, storage locker
Outcome: no bid
Agents: Leila MacDonald & Michael Bacher

32 & 34 Wiles Avenue:
Features: 1437m² section in 2 titles, 2 ex-state duplexes, one of 2 bedrooms, the other of one bedroom; resource & building consents issued for 2 new homes – one on a net 562m², floor area 390m², the other on 775m², floor area 456m²
Outcome: no bid
Agent: Michelle Zhang

St Johns

95I Felton Mathew Avenue:
Features: 4-bedroom apartment, offstreet parking
Outcome: no bid
Agent: Peter Hutson

95K Felton Mathew Avenue:
Features: 3-bedroom apartment, deck, offstreet parking
Outcome: withdrawn from auction
Agents: Maree Currie & Paul Robertson

Stonefields

9A Guyon St:
Features: 102m² site, 2-bedroom terrace, courtyard, carport
Outcome: passed in, back on market at $979,000
Agent: Philip Oldham

North-west

Kelston

8A Kelwyn Rd:
Features: 432m² section, 3-bedroom townhouse, 2 bathrooms, deck, patio, double internal-access garage
Outcome: no bid, back on market at $669,000
Agents: Cici Wang & Leo Liu

Commercial

Isthmus west

Mt Roskill

1484C Dominion Rd:
Features: shop on 147m² site
Rent: $8406/year + gst on lease to Vodafone NZ Ltd renewed for 2 years from today
Outcome: sold for $726,000
Agent: Nick Wilson

Attribution: Auction documents.

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All 7 passed in at city apartments auction

All 7 properties auctioned at Ray White City Apartments today – 6 apartments & a Ponsonby section up for development – were passed in. One attracted no bid, while bidding on another went close to a lowered reserve.

CBD

Learning Quarter

St Paul Apartments, 4 St Paul St, unit 4D:
Features: 34m², one bedroom, remedial issues
Outgoings: rates $721/year including gst; body corp levy $4874/year
Income assessment: $375/week, fixed until February
Outcome: passed in at $136,000
Agent: Dominic Worthington

Connaught, 14 Waterloo Quadrant, unit 7D:
Features: 48m², furnished one bedroom
Outgoings: rates $1838/year including gst; body corp levy $4252/year
Income assessment: $500-550/week
Outcome: passed in at $585,000
Agents: Mitch Agnew & Ryan Bridgman

Victoria Quarter

Hobson Oaks, 188 Hobson St, unit 701:
Features: 49m², 2 bedrooms, balcony, building managed by VR Group, leased to hotel
Outgoings: rates $5166/year including gst; body corp levy $6885/year
Outcome: passed in at $280,000 + gst
Agents: Damian Piggin & Daniel Horrobin

Altitude, 34 Kingston St, unit 5F:
Features: 40m², furnished 2 bedrooms
Outgoings: rates $1110/year including gst; body corp levy $3913/year
Income assessment: $460-480/week furnished
Outcome: passed in at $324,500
Agents: Damian Piggin & Daniel Horrobin

Heritage Tower, 22 Nelson St, unit 402:
Features: 63m², one bedroom, balcony, parking space
Outgoings: rates $1422/year including gst for unit, $156/year for parking; body corp levy $6984/year, parking $995/year
Outcome: passed in after sole bid from vendor at $500,000
Agents: Damian Piggin & Daniel Horrobin

Isthmus east

Parnell

Glenross, 5 Sarawia St, unit 7:
Features: 150m², 1930s 3-bedroom unit, parking space, category D building requires seismic strengthening
Outgoings: rates $2763/year including gst; body corp levy $5036/year; $10,715 levy toward replacing roof already paid
Income assessment: $800-850/week furnished
Outcome: no bid
Agents: Krister Samuel

Isthmus west

Ponsonby

89 Summer St:
Features: 243m² section, one-bedroom house, offered “as is, where is”
Outgoings: rates $3098/year including gst
Outcome: passed in after sole bid from vendor at $750,000
Agents: Zarlane & Bernie Grubisic

Attribution: Auction.

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