Published 15 March 2018, updated 16 March 2018:
An Onehunga office & warehouse property (pictured) was sold under the hammer at Barfoot & Thompson’s city auction today.
A Brown St property in Ponsonby, with development potential from its mixed-use zoning, was passed in at a 4.8% yield on current rent but was sold a short time later on a 4.63% yield.
The 2 apartments on offer attracted little interest – no bid on the first, in the Stanford, and 2 bids but no deal on the second, a unit in the Urba which was passed in at a price $51,000 higher when it went to auction last August.
35 Church St:
Features: 396m² section, vacant 294m² office & warehouse (auction documents show the vendor was unsure if the mezzanine had consent)
Outcome: sold for $1.21 million
Agents: Murray Tomlinson
Updated: 62 Brown St:
Features: 326m² site zoned mixed use, 18m height limit, 436m² building, 2 commercial & 2 residential tenancies
Rent: recent income over $125,000/year with 50% vacant on settlement
Outcome: passed in at $2.6 million, at a 4.8% yield on current rent; sold post-auction for $2.7 million (4.63% on current rent)
Agents: Murray Tomlinson & Reese Barragar
Urba, 5 Howe St, unit 102:
Features: 55m², one bedroom + flexi-room, 5m² covered balcony, storage locker
Outgoings: body corp levy $4241/year
Outcome: passed in at $450,000
Agents: Stephen & Leo Shin
Stanford, 189 Hobson St, unit 7B:
Features: 2 bedrooms
Outgoings: body corp levy $4586/year
Outcome: no bid
Agents: Casey Chen