Archive | North-west

Bayleys office ends year with 9 sales & 11 leases

Bayleys agents from the North Shore branch have started the year reporting 9 sales & 11 leases in November & December.

5 of the sales and 9 of the leases were on the Shore and at Silverdale. The rest were in Epsom, Grafton, Huntly, New Lynn & Westgate.

Sales

Isthmus east

Epsom

1B Edgerley Avenue:
Features: 357m² mixed-use property
Rent: $40,037/year net + gst
Outcome: sold at auction in December for $1.26 million + gst, yield 3.18%
Agent: Terry Kim

North-east

Rosedale

1-3 Parkhead Place:
Features: 4532m² industrial site, 2424m² building
Rent: $393,400/year net + gst
Outcome: sold in December for $5.1 million + gst at a 7.7% yield, $2104/m² land & building
Agents: Alex Strever, Laurie Burt & Matt Mimmack

4 Piermark Drive, unit D:
Features: 372.2m² industrial unit – office 175m², warehouse 150m², other area 47.2m², 7 parking spaces
Outcome: sold at auction in December for $920,000 + gst, at $2472/m² land & building
Agent: James Kidd

14-22 Triton Drive, unit C2:
Features: 130m² unit – office 90m², warehouse 40m², 3 parking spaces
Outcome: sold in December for $480,000 + gst, at $3692/m² land & building
Agents: James Yu & Alex Strever

14-22 Triton Drive, unit C3:
Features: 237.2m² unit – warehouse 55,9m², office 181.3m², 4 parking spaces        
Outcome: sold in December for $785,000 + gst, at $3309/m² land & building
Agent: Alex Strever

Silverdale

162 Foundry Rd:
Features: 2002m² site, 1032m² building
Rent: about $150,000/year net + gst
Outcome: sold in November for $3.05 million + gst, at 4.92% yield, $2955/m² land & building
Agents: Rosemary Wakeman & Matt Mimmack

North-west

Westgate

Northside Drive, lot 1, unit 6:
Features: 294m² industrial unit, 4 parking spaces
Outcome: sold in November for $990,000 + gst, at $3367/m² land & building
Agents: >Matt Mimmack & Ashton Geissler

Northside Drive, lot 1, unit 4:
Features: 309m² industrial unit, 4 parking spaces
Outcome: sold in November for $1.06 million + gst, at $3430/m² land & building
Agents: Matt Mimmack & Ashton Geissler

South of the Bombays

Waikato

Huntly

3768 State Highway 1:
Features: motel business on 3065m² site, 690m² floor area
Income: $68,000/year net + gst
Outcome: sold in December for $1.25 million + gst at 5.4% yield
Agent: David Han

Leases

Isthmus east

Grafton

14 Burleigh St, part ground floor:
Features: 561m² office, 16 parking spaces
Rent: leased in November for $144,360/year net + gst, $111,080 excluding parking, parking $40/space/week, premises rental $198/m²
Agent: Dean Gilbert-Smith

North-east

Albany

86 Bush Rd, unit U:
Features: 92m² office unit
Rent: leased in December for $29,660/year net + gst, net excluding parking $25,760/year + gst, premises rental $280/m²
Agent: Jane Sims

Birkenhead

65 Birkenhead Avenue, basement:
Features: 200m² industrial space, parking space
Rent: $30,000/year net + gst
Agents: Adam Watton & Adam Curtis

Gulf Harbour

69 Gulf Harbour Drive, unit H:
Features: 145m² retail area, 8 parking spaces
Rent: $38,160/year net + gst
Agent: Terry Kim

Rosedale

5 Beatrice Tinsley Crescent, unit B:
Features: 361m² industrial unit, 5 parking spaces
Rent: leased in December for $50,000/year net + gst
Agent: Laurie Burt

10B Canaveral Drive:
Features: 300m² industrial, 5 parking spaces
Rent: leased in December for $52,000/year net + gst, net excluding parking $52,000, premises rental $173/m²
Agent: James Kidd

7 Vega Place, unit F:
Features: 132m² industrial unit, 2 parking spaces
Rent: leased in December for $23,000/year net + gst, net excluding parking $23,000, premises rental $174/m²
Agent: Laurie Burt

45 William Pickering Drive, unit A:
Features: 340m² industrial unit, 7 parking spaces
Rent: leased in December for $65,000/year net + gst, net excluding parking $65,000/year + gst, premises rental $191/m²
Agents: James Kidd & Laurie Burt

51 William Pickering Drive, unit 9, level 1:
Features: 60m² office space, parking space
Rent: leased in December for $14,000/year net + gst, net excluding parking $14,000, premises rental $233/m²
Agent: Terry Kim

Silverdale

10 Silverdale St, shops 2 & 3:
Features: 262m² retail area, no parking
Rent: leased in December for $98,000/year net + gst, premises rental $374/m²
Agents: Adam Curtis & Adam Watton

North-west

New Lynn

3047 Great North Rd, first floor:
Features: 370m² office, 10 parking spaces
Rent: leased in November for $93,000/year net + gst, $80,000 excluding parking, parking $25/space/week, premises rental $251/m²  
Agents: Chris White & Damian Stephen

Attribution: Agency release.

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Stride defers NorthWest 2 option expiry at Gunton’s request

Stride Property Ltd said today it had agreed to defer the expiry date of Westgate Town Centre Ltd (Mark Gunton)’s 3-year option to acquire Stride’s NorthWest 2 development.

The option was due to expire on Tuesday, 19 December, but will be extended to a date in the new year which depends on the outcome of Stride’s discussions with Mr Gunton.

Stride developed NorthWest 2 alongside the NorthWest Shopping Centre at Westgate, at what was then the top of Auckland’s North-western Motorway.

Stride chair Tim Storey said the company undertook the development after Westgate Town Centre Ltd granted Stride a conditional right & ground lease for the NorthWest 2 site. Under the agreement, Stride granted Westgate Town Centre Ltd rights allowing it to acquire the development from Stride within 3 years of the ground lease’s effective date (the deadline being Tuesday), at a price equal to 115% of Stride’s total development cost (including holding costs).

In the event that Westgate Town Centre Ltd didn’t acquire the development within the 3-year period, the agreement also permits Stride to obtain freehold title to the land for a nominal $1. In its accounts to 30 September, Stride held the NorthWest 2 development in the consolidated interim financial statements at $36.3 million.

Link: Stride interim report to 30 September 2017 (see accounts page 30, note 11 re NorthWest 2)

Earlier stories:
5 October 2015: Albany settlement helps Stride’s Westgate programme
30 September 2015: Westgate opens for business tomorrow
24 July 2015: DNZ looks to grow investment management as first Westgate project nears completion
11 February 2015: DNZ puts next property on market as NorthWest mall leasing hits 90%

Attribution: Stride release, interim report.

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2 sales out of 7 at apartments auction

2 apartments were sold today at City Sales’ final auction for the year, out of 7 on offer.

The first sale was a one-bedroom unit in the Renaissance (pictured), Manukau Central, and the other was a leasehold unit at Lighter Quay.

CBD

Learning Quarter

Tetra House, 85 Wakefield St, unit 913:
Features: 39m², one bedroom, 2 bathrooms; approved for short-term student accommodation only
Outgoings: rates $1201/year including gst; body corp levy $4794/year
Outcome: passed in at $300,000
Agent: Iona Rodrigues

Uptown

Volt, 430 Queen St, unit G01:
Features: 48m², 2 bedrooms, courtyard
Outgoings: rates $1175/year including gst; body corp levy $4703/year
Outcome: passed in at $375,000
Agent: Dave Cousins

132 Vincent St, unit GD:
Features: 73m², 2 bedrooms, parking space
Outgoings: rates $2610/year including gst for unit & parking; body corp levy $6646/year for unit & parking
Outcome: passed in at $650,000
Agent: Susan Frear

Victoria Quarter

Fiore, 152 Hobson St, unit 302:
Features: 35m² studio, deck
Outgoings: rates $1071/year including gst; body corp levy $2544/year
Income assessment: $370/week, fixed until October 2018
Outcome: passed in after a bid at $150,000 & vendor bid at $200,000
Agent: Dave Cousins

Wynyard Quarter

Lighter Quay, 77 Halsey St, unit 409:
Features: leasehold, 60m², fully furnished 2 bedrooms, 4m² deck, parking space
Outgoings: rates $1903/year including gst; body corp levy $9374/year including $4547/year ground rent, plus $2571/year residents’ society fees
Outcome: sold for $320,000
Agents: Val Luo & Maggie Sun

North-west

New Lynn

Karekare Apartments, 17 Crown Lynn Place, unit 5K:
Features: 40m², one bedroom, deck, parking space
Outgoings: rates $1061/year including gst; body corp levy $3888/year
Outcome: no bid
Agent: Trisha Shanaghan

South

Manukau Central

Renaissance, 18 Ronwood Avenue, unit 11H:
Features: 32m², one bedroom, 6m² deck, parking space
Outgoings: rates $1131/year including gst; body corp levy $2856/year
Outcome: sold for $315,000
Agent: Andy Faulkner

Attribution: Auction.

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2 Westgate sales & 5 leases on Shore & K Rd

Bayleys North Shore agents completed 2 industrial unit sales at Westgate in November, and signed 5 leases on Karangahape Rd (pictured), Takapuna, and 3 in Rosedale.

Sales

North-west

Westgate

Northside Drive, lot 1, unit 1:
Features: 325m² industrial unit, 4 parking spaces
Outcome: sold in November for $895,000 + gst, at $2754/m² land & building
Agents: Matt Mimmack & Ashton Geissler

Northside Drive, lot 1, unit 2:
Features: 650m² industrial unit, 8 parking spaces
Outcome: sold in November for $1.92 million + gst, at $2954/m² land & building
Agents: Ashton Geissler & Matt Mimmack

Leases

CBD

K Rd

258-264 Karangahape Rd, level 1:
Features: 370m² retail area
Rent: leased in November for $48,000/year net + gst, premises rental $130/m²
Agents: Terry Kim

North-east

Rosedale

33 Apollo Drive, unit 3:
Features: 174m² office, 5 parking spaces
Rent: leased in November for $45,200/year net + gst, parking $20/space/week, net rent excluding parking $40,000/year, premises rental $230/m²       
Agents: Laurie Burt & Alex Strever

68 Paul Matthews Rd, unit D:
Features: 190m² industrial unit, 3 parking spaces
Rent: leased in December for $35,000/year net + gst, parking $5/space/week, net excluding parking $34,220/year, premises rental $150/m²  
Agents: Alex Strever

8 Piermark Drive, unit E:
Features: 224m² industrial unit
Rent: leased in November for $36,000/year net + gst, premises rental $161/m²
Agents: Laurie Burt & James Kidd

Takapuna

66 Anzac St, ground floor:
Features: 76m² retail, 2 parking spaces
Rent: leased in November for $27,780/year net + gst, parking $55/space/week, net excluding parking $22,060/year, premises rental $290/m²
Agent: Ildy Meixner

Attribution: Agency release.

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$40 million of commercial & industrial sales

Colliers agents have notched up over $40 million of commercial & industrial sales from Paihia to Paraparaumu in 5 transactions.

The biggest was the sale-&-leaseback deal by Steel & Tube Holdings Ltd of its East Tamaki distribution centre in November, scheduled for completion next week.

One of the 5, a Paihia retail property with 14 tenants, was sold for an undisclosed sum.

North

Paihia

68 Marsden Rd & 9 Williams Rd:
Features: 1139m², 4 buildings on 2 titles separated by Paihia Lane, 14 retail tenancies, average weighted lease term 7.35 years
Rent: $701,000/year net + gst
Outcome: sold, price not disclosed
Agents: Colliers capital markets & site sales team

North-west

Henderson

136-140 Lincoln Rd:
Features: 2709m² development site, the former Lincoln vineyard homestead, mixed-use zoning allows for a range of commercial & intensive residential development
Outcome: sold to an owner-occupier for $4,063,500
Agents: Euan Stratton, Josh Coburn & Craig Smith

South

East Tamaki

103A&B Harris Rd:
Features: total 931m², warehouse & office, high stud clearspan warehousing at rear of both units
Rent: $133,856/year net + gst     
Outcome: sold for $2.34 million + gst at a 5.7% yield
Agents: Jolyon Thomson & Jeremy Barnett

68-80 Stonedon Drive:
Features: 3.64ha site, 18,126m² Steel & Tube Holdings Ltd distribution centre,
Rent: $2,036,087/year net + gst  
Outcome: sold for $32,577,392 at a 6.25% yield in 10-year sale & leaseback (6 years certain), transaction scheduled for completion 20 December
Agents: Greg Goldfinch & Andrew Hooper
Earlier story, 20 November 2017:
East Tamaki property sold as Steel & Tube rings in changes

South of the Bombays

Wellington region

Paraparaumu Beach

345-347 Kapiti Rd:
Features: 1844m² site, 880m² office & retail
Outcome: sold for $2.013 million at a 7.47% yield
Agent: Dean Anderson

Attribution: Agency release.

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Ex-state house among 3 intensive living sales

In a mix of 7 intensive living options at Bayleys auctions around Auckland last week, an ex-state house (pictured) sold more for its land value, and a One Tree Hill brick & tile unit also sold under the hammer, while a Hillsborough townhouse sold prior.

All up, the agency offered 34 residential properties at its auctions and sold 11. 3 were withdrawn or had their auction postponed.

Isthmus east

Greenlane

7 Garland Rd:
Features: 668m² corner section zoned mixed housing urban, 1930s ex-state house, 2 bedrooms, garage & carport
Outcome: sold for $1.595 million at $2388/m² land
Agents: Jeff Clayton & Helen Yan

Mt Wellington

8 Thompson Park Rd, unit 25:
Features: studio with sliding door to bedroom, parking space, built last year
Outgoings: rates $1186/year including gst
Outcome: passed in, back on market at $419,800
Agents: Harry Cheng & Cheryl Regan

One Tree Hill

123A Campbell Rd, unit 2:
Features: 2-bedroom 1960s unit, parking space
Outcome: sold for $790,000
Agent: Lindy Lawton

Remuera

16 Buttle St, unit 2:
Features: 2-bedroom unit, parking space
Outcome: passed in
Agent: John Howard

Isthmus west

Hillsborough

138B Hillsborough Rd:
Features: 3-bedroom townhouse, 2 bathrooms, 2 living rooms, parking space
Outcome: sold prior for $780,000
Agent: Dianne Burt

North-east

Long Bay

20C Caldera Drive:
Features: 4-bedroom townhouse, 2 bathrooms, 2 living rooms, double garage
Outcome: passed in
Agents: Jiang Kou & Therese Leslie

North-west

Te Atatu South

36A Tirimoana Rd:
Features: 3-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: passed in, back on market at $859,000
Agents: Kees Van Drongelen

Attribution: Agency release.

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5 apartment sales include 2 in hotel leases

5 apartments were sold at Ray White City Apartments’ auction yesterday out of 9 listed. The sales included 2 of the 3 units in hotel leases.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1104:
Features: 48m² including balcony, furnished one bedroom
Outgoings: rates $1305/year including gst; body corp levy $4332/year
Income assessment: $580-600/week
Outcome: sold for $570,000
Agents: Damian Piggin & Daniel Horrobin

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1215:
Features: 22m² furnished studio, balcony
Outgoings: rates $3686/year including gst (reduced to about $1500/year if removed from hotel pool); body corp levy $2704/year
Income assessment: about $1000/month current
Outcome: sold for $270,000
Agents: Damian Piggin & Daniel Horrobin

Lorne St

Lorne St Lofts, 4 Lorne St, unit 1B:
Features: 50m² studio
Outgoings: rates $1549/year including gst; body corp levy $10,372/year
Income assessment: $450-480/week
Outcome: passed in at $400,000
Agents: Mitch Agnew & Ryan Bridgman

Uptown

Nova en Scotia, 18 Scotia Place, unit 9C:
Features: 53m², 2 bedrooms, balcony
Outgoings: rates $1487/year including gst; body corp levy $4224/year
Income assessment: $450/week
Outcome: sold for $472,500
Agent: Bain Duigan

Isthmus west

Eden Terrace

The Mews, 8 Basque Rd, unit 20:
Features: 114m², 3 bedrooms, 2 bathrooms, 2 parking spaces
Outgoings: rates $1999/year including gst; body corp levy $4799/year
Income assessment: $900-980/week unfurnished, $950-1000/week furnished
Outcome: passed in at $1 million
Agent: Vladimir Kiselev

Kingsland

2 Western Springs Rd, unit 7:
Features: 81m², 2-bedroom corner apartment, flexi-room, 2 bathrooms, 2 parking spaces
Outgoings: rates $1674/year including gst; body corp levy $3476/year
Income assessment: $750-800/week
Outcome: no bid
Agents: Dusan Valenta & Adele Keane

North-east

Takapuna

Shoalhaven, 130 Anzac St, unit A201:
Features: 76m², 2 bedrooms, 2 bathrooms, 2 parking spaces
Outgoings: rates $1918/year including gst; body corp levy $5188/year
Income assessment: $600-650/week
Outcome: sold for $625,000
Agents: Liam Kyle & Gary Walker

Spencer on Byron, 9-17 Byron Avenue, unit 410:
Features: 30m² studio, hotel furniture; sold on “as is, where is” basis, buyer liable for $32,864 remediation levy including gst
Outgoings: rates $2736/year including gst; body corp levy $1936/year
Income assessment: under hotel lease
Outcome: sold for $150,000 + gst
Agents: James Mairs & Gillian Gibson

North-west

Henderson

Quest Henderson, 12 Wadier Place, unit 3A:
Features: 47m², one bedroom, parking space
Outgoings: rates $3201/year including gst; body corp levy $3918/year
Income assessment: $18,401/year + gst current, 10 years to run on hotel lease
Outcome: passed in after bid from vendor at $150,000 + gst
Agent: Ron Yang

Attribution: Auction.

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Waitakere Mega Centre becomes The Boundary

The Christchurch syndicate which used an earthquake insurance payout to buy the Waitakere Mega Centre in Henderson in 2014 has decided on a rebrand to The Boundary.

The centre, on Vitasovich Avenue, across the road from Westfield’s WestCity mall, has 23 specialty shops in a net lettable area of 18,027m², including national brands Ballentynes, St Pierre’s & Lighting Direct. It’s anchored by Kmart, Briscoes & Rebel Sport and has 800 parking spaces.

Colliers’ real estate management national director Richard James said the new centre name was chosen to reflect its location between the bustle of the city and the lush, wild greenery of the Waitakere Ranges. The intention was to blur the lines between its retail spaces & the surrounding natural environment.

Mr James said the transformation would take place in stages, starting with a refurbished Kmart lobby, replacement of the lift with a new glazed elevator, upgraded external seating areas & a refurbished carpark.

Urbus Properties Ltd redeveloped the centre in 2005-06, as the company was being taken over by the ING Property Trust. The combined business became Argosy Property Ltd, which sold the centre to the Christchurch syndicate in 2014 at the book value of $45.75 million.

Syndicate directors & shareholders include Ashburton farm management consultant Andrew Macfarlane, founder of Macfarlane Rural Business Ltd, chair of Ngai Tahu Farming Ltd, former chair of Deer Industry NZ and appointed a director of Fonterra Co-operative Group Ltd on 2 November. Longtime Christchurch property investor Peter Rae is also a shareholder & director of the syndicate company, renamed The Boundary Ltd on 1 December.

Syndicate members used a payout on the 17-storey Forsyth Barr House, badly damaged in the 2011 Christchurch earthquake, to buy the West Auckland shopping centre.

Earlier stories:
3 August 2014: Argosy sells Waitakere Mega Centre
18 November 2004: Urbus to turn Waitakere Plaza into bulk retail centre

Attribution: Agency release, Company Register.

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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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