Archive | Remuera

St Marks apartment sells

One apartment was sold at Bayleys auctions last week out of 4 on offer.

CBD

Quay Park

Hudson Brown, 57 Mahuhu Crescent, unit 417:
Features: leasehold, 84m², 2-level 2-bedroom apartment, parking space, storage locker
Outgoings: rates $1808/year including gst
Income assessment: $650/week-plus
Outcome: passed in
Agents: Habeeb Urrahman, Steve Kirk & Chris Cairns

Isthmus east

Epsom

The Ivory, 10 Lion Place, unit 504:
Features: 2 bedrooms, 2 bathrooms, balcony, parking space
Outcome: passed in, back on market at $899,000
Agents: Grace Lee & Eric Cher

Remuera

St Marks, 10 St Marks Rd, unit 202:
Features: 124m², 2 bedrooms, 2 bathrooms, 2.9m-high stud, 2 parking spaces
Outcome: sold for $1.925 million
Agents: Karen Spires & Trisha Vincent

96 Upland Rd, unit 2E:
Features: 3 bedrooms, 2 bathrooms, 2 covered + 2 offstreet parking spaces
Outcome: passed in
Agents: Warren Fenning & Louise De Martin

Attribution: Agency release.

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Updated: Bayleys year-end auction series yields $25.6 million from 14 sales

Published 7 December 2018, updated 14 December 2018:
Bayleys sold 11 properties for $21.6 million at its final Total Property commercial auction in Auckland on Wednesday. A Newmarket property has since been sold.

One property auctioned at the agency’s East Tamaki office on Tuesday added $2.3 million and 2 auctions brought forward to November added $1.7 million to the return, for a total $25.6 million.

The first 2 properties auctioned on Wednesday, both small premises in prominent spots in tightly held eastern suburbs neighbourhoods, were sold on yields of 3.6% (St Heliers, pictured above) & 4.7% (Remuera).

CBD

Learning Quarter

26 Airedale St:
Features: 220m² site, 2-level 364m² building, seismic rating 50% new building standard, concept plan available for 17-storey 68-unit apartment building
Rent: $139,00/year gross + gst
Outcome: no bid
Agents: Owen Ding & Sarah Liu

Isthmus east

Newmarket

Updated: 375-389 Khyber Pass Rd, unit 7:
Features: 88m² retail unit occupied by Hair Design salon on a new lease from October, 2 parking spaces 
Rent: $36,000/year gross + gst
Outcome: passed in at $510,000, sold post-auction for $551,000 at a 6.53% yield
Agents: Quinn Ngo & Matt Lee

Onehunga

155 Neilson St:
Features: 980m² site zoned heavy industrial, 625m² warehouse, office & showroom, 2 tenants 
Rent: $91,811.38/year net + gst
Outcome: sold for $1.75 million at a 5.25% yield
Agents: James Hill, James Valintine, Sunil Bhana, Amy Weng & Tony Chaudhary

3 Pukemiro St:
Features: 556m² site, 390m² industrial building – clearspan warehouse, office & amenities, seismic rating 70% new building standard 
Outcome: sold with vacant possession for $1.15 million
Agents: William Gubb & James Valintine

Parnell

11A Cheshire St:
Features: 1031m² development site next to the new Parnell train station, resource & building consents in place for a 6-level apartment complex
Outcome: withdrawn from auction
Agents: Owen Ding & James Chan

Remuera

371-373 Remuera Rd:
Features: 229m² site, 598m² 3-level 1970s building zoned town centre, café & bar lease of 319m² of ground floor & basement space runs until mid-2023, with 2 6-year rights of renewal, balance of retail space & upper-level office premises occupied by 2 other tenants
Rent: $201,434/year net + gst
Outcome: sold for $4.325 million at a 4.66% yield
Agents: Alan Haydock, Damien Bullick, Andrew Wallace & Quinn Ngo

St Heliers

413 Tamaki Drive:
Features: 235m² site zoned local centre, 288m² 2-level building, opposite St Heliers Beach & near St Heliers Bay Rd intersection, 2 tenants on 10-year leases which both run until 2022 with no rights of renewal
Rent: $169,145/year net + gst
Outcome: sold for $4.71 million at a 3.59% yield
Agents: Cameron Melhuish, Andrew Wallace & James Chan

Isthmus west

Avondale

6C Wingate St:
Features: 80m² middle unit in modern retail block in town centre with access also from Great North Rd 
Rent: $47,000/year net + gst + outgoings on new 9-year lease to Domino’s Pizza NZ Ltd
Outcome: sold for $960,000 at a 4.9% yield
Agents: Janak Darji, Tony Chaudhary & Mike Bradshaw

Freemans Bay

27 Hargreaves St:
Features: 304m² site zoned mixed use, 318m² renovated character office building, 30m² deck
Rent: $171,160/year net + gst on new 6-year lease to Studio South Ltd from March 2018, 2 3-year rights of renewal
Outcome: sold shortly after auction for $3.25 million at a 5.27% yield
Agents: Damien Bullick, Alan Haydock & Mike Adams

3 Margaret St, unit 4:
Features: 53m² ground level commercial unit leased to lawyer Susan Kingston, 2 parking spaces, zoned business town centre
Rent: $27,000/year net + gst
Outcome: sold for $620,000 at a 4.35% yield
Agents: Stuart Bode, Mike Bradshaw & Mike Adams

North-east

Orewa

2 Hillary Square:
Features: 586m² site, 648m² floor area, tenants ANZ Bank and KiwiBank/NZ Post
Rent: $262,316/year net + gst
Outcome: passed in at $4.5 million
Agents: Mustan Bagasra, Nicolas Ching & James Chan

Rosedale

63 Arrenway Drive, unit 5:
Features: 118m² industrial unit, 2 parking spaces 
Outcome: no bid
Agents: Meng He, Ian Waddams & Steven Liu

5 Ceres Court, unit 2G:
Features: 155m², first floor office unit, 5 exclusive parking spaces
Rent: $45,000.00/year net + gst + outgoings
Outcome: auction postponed
Agents: Tonia Robertson & Caroline McNaught

Silverdale

28 Anvil Rd, unit 1:
Features: 246m² industrial unit, 5 parking spaces
Outcome: sold with vacant possession for $750,000
Agents: Matt Mimmack & Rosemary Wakeman

South

Manurewa

327 Great South Rd:
Features: 3288m² yard used as car yard, zoned business light industrial 
Outcome: no bid
Agents: Piyush Kumar & Peter Migounoff

39B Holmes Rd:
Features: half share of 1182m² site, 382m² workshop + parking & yard, tenant of 15 years now on monthly lease
Rent: holding income of $39,000/year net + gst + outgoings
Outcome: sold for $771,000 at a 5.1% yield
Agents: Peter Migounoff & Piyush Kumar

Pakuranga, Highland Park

5 Aviemore Drive, unit 1:
Features: 135m² Domino’s pizza outlet in 10-unit development completed in 2006   
Rent: $63,296/year net + gst + outgoings
Outcome: sold for $1.305 million at a 4.85% yield
Agents: Amy Weng, Tony Chaudhary & Janak Darji

Pukekohe

44-48 King St:
Features: 841m² site, 381m² building, 12 parking spaces at rear
Rent: $111,349/year net + gst + outgoings, pharmacy & Dollar World shops on 3- & 4-year leases
Outcome: sold for $2.005 million at a 5.55% yield
Agents: Shane Snijder & Graeme Moore

South of the Bombays

Wellington

Rydges Hotel, 75 Featherston St, units 422 & 1317:
Features: 2 28m² hotel units, leased to Rydges Hotel until 2033
Rent: unit 422 $19,371/year including gst, unit 1317 $30,244/year including gst
Outcome: withdrawn from auction but still for sale
Agents: Nick Thompson & Jim Wana

Earlier stories:
5 December 2018: East Tamaki sale starts last Bayleys commercial auction for year, 2 other sales in Airport Oaks & Orewa
25 November 2018 (another East Tamaki auction brought forward, 22 Polaris Place): 9 business park units sold
23 November 2018: Rosedale unit sold at auction brought forward

Attribution: Auctions.

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Kohi townhouse sells at auction

A large Kohimarama townhouse (pictured), one back from Tamaki Drive, sold at Bayleys’ Remuera branch auction today, but the only bid for a Parnell studio was from the vendor and a unit in the new St Marks apartment block in Remuera attracted no bid.

Isthmus east

Eastern bays – Kohimarama

20A Eltham Rd:
Features: 259m² site, 229m² floor area, 3-level 3-bedroom townhouse, 2 living rooms, 3 bathrooms, 2 parking spaces, balcony, patio, roof garden, self-contained living at entry level giving guests independence
Outgoings: rates $5239/year including gst; no body corp fees
Outcome: sold for $2.715 million
Agents: Gary & Vicki Wallace

Parnell

258 Parnell Rd, unit 43:
Features: studio, parking space
Outcome: passed in after sole bid from vendor at $550,000
Agent: Trisha Vincent

10 Ruskin St, unit 3C:
Features: 2-level penthouse, 3 bedrooms, 2 bathrooms, balconies, 2 basement parking spaces
Outcome: auction postponed
Agent: Jiali Liu

Remuera

St Marks, 10 St Marks Rd, unit MAC 101:
Features: 3 bedrooms, 2 bathrooms, 2.9m stud, 2 basement parking spaces
Outcome: no bid
Agents: Karen Spires & Trisha Vincent

Attribution: Auction documents.

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Apartment & townhouse sell, 4 more passed in

Bayleys sold an apartment & a townhouse at its auctions around Auckland last week, and 4 were passed in. The auction of another townhouse was postponed.

Isthmus east

Parnell

18 Brighton Rd, unit 1:
Features: 3-bedroom townhouse, 2 living rooms, 2 bathrooms, deck, parking space, designed by Marshall Cook
Outcome: passed in
Agent: Fleur Denning

Avoncourt, 57 Gladstone Rd, unit 1:
Features: half the top floor, 2 bedrooms, office, 2 living rooms, parking space, lift from carpark
Outcome: sold for $1.64 million
Agent: Fleur Denning

25 Windsor St, unit 4:
Features: 4-bedroom townhouse, 2 living rooms, 2 bathrooms, garage + parking space
Outcome: auction postponed
Agent: Fleur Denning

Remuera

Norfolk Manor, 2 Bassett Rd, unit 7:
Features: 199m² + balconies, terrace, 4-bedroom apartment, 2 living rooms, 2 bathrooms, 2-car basement parking, storage locker
Outgoings: rates $5412/year including gst
Outcome: passed in, back on the market at $2.347 million
Agent: Paul Sissons

Royal Oak

13 Turama Rd, unit 1:
Features: 3-bedroom townhouse, 2 bathrooms, study, 2 parking spaces
Outcome: sold for $1.145 million
Agent: Andrew Rumbles

North-east

Albany

22 Library Lane, unit 7-6-11:
Features: 46.7m² + 4.9m² balcony, one-bedroom apartment completed in September, parking space
Outcome: passed in, back on market at $508,000
Agents: Tina Tang & Ansen Huang

South

Pakuranga

40 Latham Avenue, unit 5:
Features: 2-bedroom unit, carport
Outcome: passed in, back on market at $589,000
Agents: Galina & John Shutkowski

Attribution: Agency release.

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Hotel suite & Statesman unit sell

A hotel suite in the Amora and one of 2 apartments in the Statesman (pictured) were sold at City Sales’ auction yesterday.

The second Statesman apartment and a new unit in the Victoria Residences opposite the SkyCity casino were under negotiation post-auction.

A unit in Imperial Gardens, where remediation works are pending and a Remuera townhouse were passed in.

CBD

Learning Quarter

The Statesman, 1 Parliament St, unit G08:
Features: 80m² + deck, refurbished 2 bedrooms, 2 bathrooms, parking space
Outgoings: rates $2118/year including gst; body corp levy $5209/year
Outcome: passed in after GAVL online bid, under negotiation post-auction
Agent: Scott Dunn

The Statesman, 1 Parliament St, unit 307:
Features: 57m², 2 bedrooms, potential to lease parking long-term
Outgoings: rates $1691/year including gst; body corp levy $3691/year
Outcome: sold vacant for $572,000
Agent: Scott Dunn

Uptown

Amora, 100 Greys Ave, unit 6J (door 610):
Features: 33m², fully furnished studio, deck
Outgoings: rates $4000/year including gst, paid by hotel
Outcome: sold for $225,000 at short-notice auction (zero-rated for gst – in hotel lease expiring in 2021)
Agent: Dahui Chen

Victoria Quarter

Imperial Gardens, 135 Hobson St, unit 701:
Features: 3 bedrooms, 2 bathrooms, 2 parking spaces
Outgoings: rates $1420/year including gst; remediation imminent
Outcome: passed in
Agent: Haytham Nasr

Victoria St

Victoria Residences, 75 Victoria St, unit 1304:
Features: 62m² + 8m² deck, 2 bedrooms, 2 bathrooms
Outgoings: rates $1982/year including gst; body corp levy $4353/year
Income assessment: $800/week
Outcome: passed in at $840,000, under negotiation post-auction
Agents: Maggie Sun & Scott Dunn

Isthmus east

Remuera

7 Haast St, unit 2:
Features: cross-lease, half share in 625m², 3-bedroom townhouse, 2 covered parking spaces
Outgoings: rates $2885/year including gst
Outcome: passed in
Agent: Haytham Nasr

Attribution: Agency release.

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Remuera & Mt Albert units sell at auctions

An apartment in a gated Remuera development and a Mt Albert unit sold at Bayleys auctions last week. Another 3 units and a Karaka lifestyle or development block were passed in.

CBD

Federal St

The Federal, 207 Federal St, unit 1008:
Features: 2-bedroom apartment
Outgoings: rates $1575/year including gst
Outcome: passed in, back on market at $569,000
Agents: Lucy Piatov & Chris Bell

Isthmus east

Remuera

3 Laxon Terrace, apartment O:
Features: 71m², 2-level townhouse in secure gated development, 2 bedrooms, deck & balcony, double garage
Outgoings: rates $2014/year including gst; body corp levy $2272/year after early payment discount
Outcome: sold for $830,000
Agents: Paul Sissons & Harry Cheng

Broadway Park, Ascot, 8 Middleton Rd, unit G02:
Features: 142m² apartment in pet-friendly complex, 2 bedrooms, 2 bathrooms, secure basement parking space
Outgoings: rates $3355/year including gst; body corp levies $6152/year (Broadway), $2206/year (Ascot)
Outcome: passed in
Agent: Paul Sissons

Isthmus west

Mt Albert

69F Woodward Rd:
Features: 2-bedroom 1970s solid concrete, ground-floor end unit, garden, 2 parking spaces
Outcome: sold for $581,000
Agents: Clive Lay & Kalala Bowden

North-east

Milford

2 Argyle Terrace, unit 4:
Features: 2 bedrooms, garage + second parking space
Outcome: passed in
Agent: Joan Barton

South

Karaka

75 Whangapouri Rd:
Features: 9.5ha site fenced into 7 paddocks, in area of lifestyle homes & new subdivisions
Outcome: passed in
Agents: Shane Snijder, Kristina Liu & Peter Sullivan

Attribution: Agency release.

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Apartment & 2 townhouses sell

A central city apartment & 2 townhouses in Freemans Bay (view from unit pictured above) & Remuera were sold at Bayleys auctions this week.

CBD

Learning Quarter

18 Wakefield St, unit 6D:
Features: 98m², 2 bedrooms, deck, parking space
Outgoings: rates $1734/year including gst; body corp levy $4664/year
Outcome: sold for $817,000
Agent: Jenny Kek

Uptown

Eclipse, 156 Vincent St, unit 13H:
Features: 41m², fully furnished sub-penthouse one-bedroom apartment
Outgoings: rates $1323/year including gst
Outcome: passed in, back on market at $390,000
Agents: Chris Bell & Lucy Piatov

Isthmus east

Remuera

17 Wimbledon Way:
Features: 3 bedroom townhouse, 2 living rooms, conservatory, 8m² shed, 2 parking spaces, garden, back gate to Regents Park
Outcome: sold for $1.03 million
Agents: Kim Hampson

Isthmus west

Freemans Bay

2 Collingwood St, unit 4:
Features: 3-level townhouse, 2 bedrooms, 2 bathrooms, decks, double internal-access garage
Outcome: sold for $1.365 million
Agent: Blair Haddow

Attribution: Agency release.

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Equinox wins consent for Peninsula at Orakei Bay Village

Equinox Group Ltd has obtained resource consent for its luxury residential development beside the Orakei railway station, in the Orakei Bay Village at the foot of Remuera – 12 years after getting involved in the original project as financier, and a year after transforming the small peninsula with a village retail precinct.

The new feature, The Peninsula, will have 32 apartments & penthouses priced from $2.7-13 million, looking back to the city across Hobson Bay.

Image above: Artist’s impression of The Peninsula at Orakei Bay Village.

They’ll be built at the most northerly point of the village, which has bars, eateries, boutique shopping & service stores and is anchored by Farro Fresh & Kings Plant Barn.

The design is for apartments of 150-660m², including covered lanais & balconies. Colliers will market the project and construction is intended to start next year.

The whole site at 228-246 Orakei Rd is partly freehold, partly leasehold, and the early intention over a decade ago was to build over the railway tracks, incorporating council-owned carparking land.

Equinox Group director Kerry Knight said yesterday the plans have been scaled back to remove the complexities of the previous requirement for development over the train tracks & a land swap with the council: “We are now only building on our freehold land, and The Peninsula is the premier waterfront location for residents in Orakei Bay Village.”

The original development proposal was by Tony Gapes’ Redwood Group Ltd. After he failed to get the project through all the council hoops, and the complications of leasehold interests, Equinox took charge of the project, but put it on hold in 2015 after further issues with Auckland Council & Auckland Transport made funding impossible.

The site for the Peninsula, right on the water’s edge, is where King’s Plant Barn was previously located.

Earlier stories:
14 March 2014: Orakei Point plan change over last hurdle
1 April 2011: Gapes’ Orakei Pt plan change approved
11 June 2010: Tramco throws Orakei Pt development scheme into disarray
9 June 2010: Orakei Point development far from fait accompli
17 January 2010: Council notifies Orakei Point plan change, but commercial agreement missing
9 October 2009: Orakei Point gets council-sponsored plan change
7 October 2009: Council pushes ahead with Orakei Pt plan as locals reiterate congestion concerns
16 September 2009: Latest Orakei masterplan gets a better reception
29 April 2009: Orakei criticism muted this time
15 July 2008: Braying at a developer’s consultant no way to demonstrate council leadership
11 July 2008: Mayor launches blistering attack on Redwood at presentation to councillors as Gapes holidays in Fiji
17 June 2008: Gapes unveils Orakei Pt masterplan
18 March 2008: Redwood’s Orakei consent declined week after master plan agreement reached
10 March 2008: Mayor gets agreement to intervene in Orakei consent process
7 February 2007: Community board supports residents’ group opposing development, wants comprehensive plan done for Orakei Rd
10 December 2006: Now it’s Tony Gapes’ turn to propose Jacobsens site development

Attribution: Company & agency release.

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Mt Wellington unit sells

A Mt Wellington unit was sold at a suburban Bayleys auction this week. A city penthouse and a Remuera terrace were passed in.

A report on Thursday (link below) carries the detail of a Freemans Bay loft sold at the agency’s city branch auction.

CBD

Learning Quarter

Sapphire, 76 Wakefield St, unit 1503:
Features: 200m², 3-bedroom penthouse, 3 bathrooms, 2 living areas including double-height glazed atrium lounge, 40m² balcony, 2 basement parking spaces
Outcome: passed in
Agents: Harry Cheng & Cheryl Regan

Isthmus east

Mt Wellington

11 Monaco Place, unit 1:
Features: 2-bedroom unit, private courtyard, internal-access garage
Outcome: sold for $750,000
Agent: Ross Anstis

Remuera

533C Remuera Rd:
Features: 267m², 3-storey terrace, 3 bedrooms all with ensuites, double internal-access garage
Outcome: passed in
Agent: Amanda Maloney

Earlier story:
12 July 2018: Tiny commercial site & Freemans Bay loft sell at auction

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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