Archive | St Heliers

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

Bayleys sold 11 properties for $21.6 million at its final Total Property commercial auction in Auckland on Wednesday.

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

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
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Outcome: withdrawn from auction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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Met & Eclipse apartments sell

An apartment in the newly remediated Met building between Queen & High Sts, in the centre of the cbd, and one in the Eclipse at the top of Vincent St sold at Bayleys’ residential auction yesterday. The Met unit went for $9420/m².

A Fiore 2 apartment and a cross-leased townhouse in St Heliers were passed in.

CBD

High St

The Met, 11 Durham St East, unit 2K:

Features: 69m², 2 bedrooms, high stud, new code compliance certificate just issued
Outgoings: rates $1963/year including gst; body corp levy $3550/year including gst
Outcome: sold for $650,000
Agents: Habeeb Urrahman & Chris Cairns

Uptown

Eclipse, 156 Vincent St, unit 12L:
Features: 2 bedrooms, balcony, parking space
Outgoings: rates $1827/year including gst; body corp levy $2999/year including gst
Outcome: sold for $625,000
Agents: Chris Bell & Lucy Piatov

Victoria Quarter

Fiore 2, 168 Hobson St, unit 801:
Features: 53m², one bedroom
Outgoings: rates $1498/year including gst; body corp levy $2999/year including gst
Outcome: passed in at $450,000, back on the market at $519,000
Agents: Chris Bell & Lucy Piatov

Isthmus east

St Heliers

16 Hampton Drive, unit A:
Features: cross-lease, ¼ share in 1239m², 3-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: no bid
Agents: Blair Haddow & Jono King

Attribution: Auction.

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7 apartment sales out of 9 units on offer

7 of the 9 apartments & suburban units auctioned by Bayleys last week were sold under the hammer. The mortgagee auction of another unit was postponed.

CBD

Kitchener St

St James, 28-36 Wellesley St, unit 4F:
Features: 2 bedrooms, parking space, across Kitchener St from Auckland Art Gallery & Albert Park
Outcome: sold for $945,000
Agents: Julie Quinton, Diane Jackson & Paula Halford

Queen St

Dilworth, 22-32 Queen St, unit 5G:
Features: studio, high stud
Outgoings: rates $1473/year including gst; body corp levy $4291/year including gst
Outcome: sold for $450,000
Agents: Steve Kirk, Habeeb Urrahman & Chris Cairns

Portland Tower, 62 Queen St, unit 12D:
Features: one bedroom, managed by Quest
Outgoings: rates $5009/year including gst, but hotel pays rebate to owner; income about $11,000/year net + gst
Outcome: sold for $250,000
Agent: Dave Hamlyn

Uptown

CityZone, 11 Liverpool St, unit 1106:
Features: 44m², 2 bedrooms, deck, basement parking space
Outgoings: rates $1246/year including gst; body corp levy $3868/year
Income assessment: $570-600/week
Outcome: sold for $415,000
Agents: Habeeb Urrahman, Steve Kirk & Chris Cairns

Victoria Quarter

Heritage Tower, 22 Nelson St, unit 906:
Features: one bedroom, parking space on separate title, in hotel pool but sold with vacant possession
Outcome: sold for $712,500
Agents: Chris Cairns, Steve Kirk & Habeeb Urrahman

Isthmus east

Onehunga

152 Grey St:
Features: 690m² section zoned mixed housing urban, villa converted into 2 flats, each of 2 bedrooms, parking space
Outcome: sold for $1.325 million
Agent: Eve Park

Parnell

Cleveland Gardens, 22 Cleveland Road, unit 20:
Features: 2 bedrooms, balcony, parking space
Outcome: sold for $850,000
Agent: Fleur Denning

St Heliers

42B Waimarie St:
Features: 348m² terraced townhouse, no body corporate, 4 bedrooms, 2 living rooms, 2 bathrooms, double internal-access garage, utility room, additional storage
Outcome: passed in, back on market at $2.689 million
Agents: David Nightingale & Katya Yushkova

Isthmus west

Avondale

4/76 Riversdale Rd, unit 4:
Features: one bedroom, deck, carport
Outcome: mortgagee auction postponed
Agents: Cherry Killgour & Steve Leyland

North-east

Albany

The Ridge, 71 Spencer Rd, unit C11:
Features: 2 bedrooms, parking space
Outcome: passed in, back on market at $505,000
Agents: Zoe Tietze & Julie Quinton

Attribution: Agency release.

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Updated: Yield under 4.5% in St Heliers post-auction sale; Metropolis old courthouse hospitality spaces were passed in

Published 29 June 2018, updated 30 July 2018:
Update: A small commercial property on Polygon Rd in St Heliers, passed in at Barfoot & Thompson’s auction on 28 June, has been sold for an extra $215,000, taking the yield below 4.5%.

2 commercial spaces in the old Magistrate’s Court section of the Metropolis apartments complex in central Auckland were passed in at the auction and a third space withdrawn.

All 3 of the courthouse premises were offered vacant. One (outlined in photo) was previously a bar, another a restaurant and the third, withdrawn from the auction after the other 2 failed to sell, was a commercial kitchen.

CBD

Kitchener St

The old Auckland Magistrate’s Court building on Kitchener St, former bar area outlined.

Metropolis, 40 Kitchener St, unit CC:
Features: vacant 159m² unit set up as a bar, seismic rating 67% new building standard
Outcome: passed in at $1.25 million
Agents: Andrew Clark & Reese Barragar

Metropolis, 40 Kitchener St, unit CD:
Features: vacant 151m² unit, previously used as a restaurant & conference room
Outcome: passed in at $750,000
Agents: Andrew Clark & Reese Barragar

Metropolis, 40 Kitchener St, unit CE:
Features: 62m² commercial kitchen unit, vacant possession
Outcome: withdrawn from auction
Agents: Andrew Clark & Reese Barragar

Isthmus east

St Heliers

13 Polygon Rd:
Features: 121m² site, net lettable area 165.5m², seismic rating 50% new building standard, property has an 18m height limit Domino’s Pizza 2 years into a 7-year lease, with 2 5-year rights of renewal, Bay Physiotherapy the upstairs tenant on 3-year lease, 2 2-year rights of renewal
Rent: $97,141/year net + gst
Outcome: passed in at $2.07 million, representing a 4.69% yield; sold to the neighbour post-auction for $2.285 million, at a 4.25% yield; sold to the neighbour post-auction for $2.285 million, at a 4.25% yield
Agents: Rex Fowler & Daniel Braid

Attribution: Auction.

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4 suburban units & Connaught studio sell

4 suburban units and a studio in the Connaught apartment building were sold at Barfoot & Thompson’s city residential auctions on Wednesday, out of 19 homes offered.

CBD

Learning Quarter

Connaught, 14 Waterloo Quadrant, unit 8H:
Features: 32m² studio apartment, balcony, storage locker
Outgoings: rates $1279/year including gst; body corp levy $2835/year
Outcome: sold for $375,000
Agents: Marie Lambert & Ann Mushet

7E Whitaker Place:
Features: 2-bedroom apartment, 2 parking spaces
Outcome: withdrawn from auction
Agents: Ketiesha Elliott & Frank Excell

Isthmus east

Kohimarama

22 Speight Rd, unit 3:
Features: cross-lease, ¼ share in 890m², 2-bedroom apartment
Outcome: passed in at $1.29 million, sold immediately post-auction for $1.38 million
Agents: Julie Kennedy & Chrissie Baker

Onehunga

Norfolk Rise, 110M Grey St:
Features: 3-bedroom townhouse, garden shed, tandem carport
Outcome: sold for $842,000
Agent: Dee Brennan

112C Victoria St:
Features: 219m² section, 3-bedroom unit, study, 2 bathrooms, internal garage
Outcome: sold for $1.06 million
Agents: Ian Thornhill & Frances Li

Remuera

19 Upland Rd, unit 1:
Features: cross-lease, 1/3 share in 1009m², 3-bedroom townhouse, 2 bathrooms, office, double internal-access garage
Outcome: passed in at $1.35 million
Agent: Alex Baker

St Heliers

69A St Heliers Bay Rd:
Features: cross-lease, half share in 738m², 3 bedrooms, 2 bathrooms, garage converted to office, carport
Outcome: no bid, back on the market at $1.595 million
Agent: Margot Torrance

Isthmus west

Lynfield

172 Halsey Drive:
Features: cross-lease, half share in 716m², 2-bedroom unit, carport, storage shed
Outcome: sold for $613,500
Agents: Grant & Moira Marshall

Sandringham

40 Leslie Avenue, unit 3:
Features: cross-lease, 1/3 share in 634m², 2-bedroom unit, garage
Outcome: passed in at $639,000
Agents: Carl & Roseanne Madsen

North-west

Te Atatu Peninsula

6 Noall St, unit 1:
Features: 2-bedroom unit, garage
Outgoings: body corp levy nil
Outcome: passed in at $500,000
Agents: Carl & Roseanne Madsen

Attribution: Auctions.

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Oceania buys Olliver’s St Heliers land

Oceania Healthcare Ltd has entered into an unconditional agreement to buy a vacant 8945m² site (outlined in picture) in St Heliers, Auckland, cleared for redevelopment by Greg Olliver over 10 years ago.

Sale of the land, in 9 titles at 14-22, 28 & 30 Waimarie St, was held up for several years through court battles between Mr Olliver, who headed development group Landco Ltd, and his ex-wife, Sarah Sparks.

Bayleys began marketing the property in October on behalf of the liquidators of entities which owned the sites, which look down to the Waitemata Harbour, where Mr Olliver had planned the development of new houses & apartments.

Oceania said it intended to settle the acquisition this Friday and would develop an integrated aged care facility & retirement village. It will start work immediately on obtaining planning approvals. The land is zoned mixed housing suburban.

Chief executive Earl Gasparich said it was the company’s first greenfield acquisition and would help maintain activity on its development pipeline for the next 7-8 years. Bayleys said the council valuation of the land was $15.6 million, but Oceania hasn’t disclosed the price it’s paying.

Oceania, backed by Australian bank Macquarie Group Ltd and built up by Mr Gasparich to become New Zealand’s third largest aged care provider & 6th largest retirement village operator, listed in May after raising $200 million through its initial public offering. The company said it proposed to use $173.4 million of the $200 million to reduce debt to provide additional flexibility to pursue development projects.

Macquarie invested in this business from 2005-2008, when Eldercare NZ Ltd & QualCare merged to form Oceania. Macquarie agreed to hold 60.3% after listing and is in an escrow arrangement to retain its stake until the day after the results for the May 2018 financial year are announced. Escrow arrangements affecting Mr Gasparich & other senior executives run until either the 2017 or 2018 financial results are announced.

Earlier stories:
7 May 2017: Oceania Healthcare lists
18 May 2009: Half-cent Olliver debt compromise approved
18 July 2008: Todd ousts Olliver from Landco
7 November 2007: Olliver gets approval for St Heliers redevelopment

Attribution: Company release.

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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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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 of 10 apartments & units sell at Barfoots

4 sold out of 10 apartments & suburban units auctioned at Barfoot & Thompson’s city office yesterday & today. The auction offering of a total 20 homes on the agency’s main 2 days compares to 80/day at the peak late last year.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2006:
Features: 48m², one-bedroom apartment
Outcome: sold for $592,500
Agent: Cindy Yu

Victoria Quarter

Hobson Gardens, 205 Hobson St, unit 2F:
Features: 158m², 3-bedroom apartment, 2 bathrooms, 2 basement parking spaces
Outgoings: body corp levy $5994/year
Outcome: no bid
Agents: Zoran Farac & Stephen Shin

Isthmus east

Ellerslie

2 Ellerslie Park Rd, unit 1:
Features: 2-bedroom unit, carport
Outcome: sold for $610,500
Agent: Linda Reid

Onehunga

15 Heretaunga Avenue, unit 4:
Features: cross-lease, 1/7 of 1604m², 2-bedroom unit, carport
Outcome: sold for $590,000
Agent: Paul Hodgman

132A Selwyn St, unit 2 (pictured):
Features: cross-lease, 1/4 of 1163m², 2-bedroom unit, covered patio, 2 parking spaces
Outcome: sold for $670,000
Agents: Jerry & Fong Khoo

St Heliers

244 St Heliers Bay Rd, unit 3:
Features: 3-bedroom unit, 2 bathrooms, internal-access garage
Outcome: passed in at $700,000
Agents: Andrew Pender & Lynette Boyd

Stonefields

Illico, 4 Bluegrey Avenue, unit 410:
Features: one-bedroom top-floor apartment, deck, parking space
Outcome: passed in at $520,000
Agent: Thelina Nuval

Isthmus west

Sandringham

16 Halesowen Avenue, unit 2:
Features: 2-bedroom unit, conservatory, basement garage
Outcome: passed in
Agents: Jim Liu & Coy Zhao

Attribution: Auctions.

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Greenlane & St Heliers apartments sell

2 apartments in Greenlane & St Heliers were sold under the hammer at Bayleys’ suburban auctions this week.

Isthmus east

Greenlane

4D Matai Rd:
Features: 474m² site in gated community, 4-bedroom townhouse, 2 living rooms, 2 bathrooms, double garage
Outcome: sold for $1.52 million
Agents: John Procter

St Heliers

12C Maheke St:
Features: 164m², 3-bedroom apartment comprising whole top floor, 2 bathrooms, 2 balconies, 2 parking spaces, 6m² storage room
Outcome: sold for $2 million
Agents: David Rainbow & Ailsa McArthur

Attribution: Agency release.

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