Tag Archives | Onehunga

4 suburban townhouses sell

4 suburban townhouses & units were sold at Bayleys auctions around Auckland last week.

Isthmus east

Onehunga

97A Mays Rd:
Features: 80m², 2-bedroom townhouse
Outcome: sold for $600,000
Agents: Cherry Killgour & Steve Leyland

Isthmus west

Eden Terrace

33P New North Rd:
Features: 110m², 2-level 2-bedroom townhouse, 2 secure covered parking spaces
Outcome: sold for $741,000
Agents: Cherry Killgour & Steve Leyland

South

Farm Cove

7B Butley Drive:
Features: 3-bedroom unit, internal-access garage
Outcome: sold for $780,000
Agent: Jenny Benoy

Howick

94 Cook St:
Features: 2 cross-lease titles totalling 1348m², 3 one-bedroom units on one title, all with parking, 3-bedroom home & garage on other title
Outcome: sold for $2.1 million
Agent: Jenny Benoy

Attribution: Agency release

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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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Onehunga warehouse sells at auction

An Onehunga warehouse (outlined in blue in photo) was sold at Colliers’ auction today, but a Milford property with potential upstairs development was passed in.

Isthmus east

Onehunga

51 Angle St:
Features: 556m² site zoned heavy industry, 413.8m² warehouse, 45.1m² office
Outcome: sold vacant for $1.345 million
Agents: Jeremy Barnett & Ben Cockram

North-east

Milford

83-85 Kitchener Rd:
Features: 261m² site, 295.7m² floor area, 2 first-floor apartments consented, 4 parking spaces
Rent: $98,000/year net from 2 ground-floor tenants, potential additional residential rent of $50,000/year
Outcome: passed in
Agents: Mike Ryan, Euan Stratton & Matt Prentice

Attribution: Auction documents.

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Updated: Takapuna properties bought on development-based yields as 9 sell at Bayleys’ commercial auction

Published 26 October 2017, updated 28 October 2017:
Bayleys’ 7th Total Property commercial auction in Auckland for the year ended with 9 properties sold, 8 passed in, and the auction of the one remaining property on the list was deferred a week. Another, in Birkenhead, has been sold post-auction.

The sales included 2 adjoining converted houses (pictured) on Lake Rd, Takapuna, sold at yields on present uses of 2.7% & 4.1%. Both have more intensive development potential.

CBD

Waterfront

Sebel, 85-93 Customs St West, unit S:
Features: leasehold, 628m² floor area, tenant Soul Bar on 9-year lease + rights of renewal until 2038
Rent: $437,500/year net + gst + outgoings including ground rent, rent reviews to CPI + fixed increases
Outcome: passed in
Agent: Mark Pittaway

16 Viaduct Harbour Avenue, unit 1A, ground floor:
Features: leasehold, 439m² office including balcony, 5 secure covered parking spaces
Rent: $248,500/year gross + gst, net $124,026/year + gst, 6-year lease to Auckland Council with rights of renewal
Outcome: passed in
Agent: Mark Pittaway

Isthmus east

Onehunga

360 Onehunga Mall:
Features: 538m² site zoned residential – terrace housing & apartment building, 2-level 341m² building constructed in 2010, ground-floor liquor store, 4-bedroom accommodation above
Rent: $93,712.50/year net + gst
Outcome: sold for $1.96 million at a 4.78% yield
Agents: Ken Lu, Damien Bullick & Alan Haydock

Panmure

100 Queens Rd:
Features: 979m² site, 1701m² floor area, multi-tenanted retail property
Rent: $131,181/year net + gst + outgoings, rising to $139,432/year next April 
Outcome: auction deferred until Wednesday 6 December
Agent: Mark Pittaway

Penrose

766 Great South Rd:
Features: 998m² site, 300m² single-level medical clinic, multiple tenants include GP practice, physiotherapist, occupational therapist & accountant
Rent: $65,050/year net + gst
Outcome: sold for $1.065 million at a 6.11% yield
Agents: Tony Chaudhary, Janak Darji, James Hill & James Chan

25 Walls Rd:
Features: 1037m² light industry-zoned site, 702m² high stud warehouse & office building, new 6-year lease to well established import & distribution tenant
Rent: $106,302/year net + gst     
Outcome: sold for $2.305 million at a 4.61% yield
Agents: Mike Adams & Phil Haydock

Isthmus west

Mt Eden

54 Mt Eden Rd:
Features: 400m² site zoned mixed use, in Grammar zone, 130m² villa, garage + 3 parking spaces
Outcome: passed in at $1.4 million
Agents: Alan Haydock, Phil Haydock & Damien Bullick

North-east

Birkenhead

221-225 Hinemoa St:
Features: 522m² floor area, medi-spa & beauty salon a tenant since 2004 & on new 5-year lease, 2 small shops, penthouse apartment
Rent: $122,304/year net + gst from commercial premises, apartment vacant
Outcome: passed in at $3.5 million
Agents: James Kidd & Michael Nees

Updated: 60-62 Mokoia Rd:
Features: 405m² site in town centre zone (21m height limit) retail strip, 744m² floor area, 3 tenants
Rent: $131,018.33/year net + gst + outgoings
Outcome: passed in at $2.2 million, sold shortly after auction for $2.3 million at a 5.7% yield
Agents: Michael Nees & Nick Howe-Smith

Takapuna

58-60 Jutland Rd:
Features: 371m² site zoned neighbourhood centre (13m height limit), 398m² 2-level building with mix of commercial & residential tenancies – 3 ground-floor retail units, anchored by a superette, 2 flats above; secondary access at the rear, where there are 4 parking spaces
Rent: $100,088/year net + gst current, development upside   
Outcome: sold for $2.09 million at a 4.79% yield
Agents: Adam Curtis, Damian Stephen & Nick Howe-Smith

398 Lake Rd:
Features: 888m² site in mixed use zone, 321m² 2-level building; the Skin Institute has occupied the premises since 1994 and has recently renewed its lease until September 2023, with 3 further 3-year rights of renewal; zoning provides potential for residential accommodation with sea views on top of commercial base
Rent: $165,000/year/net + gst    
Outcome: sold for $4.04 million at a 4.08% yield
Agents: Ranjan Unka, Tonia Robertson & Ashton Geissler

400 Lake Rd:
Features: 890m² site zoned mixed use, 272m² converted split-level character residential building, fully leased to long established law firm Turner Hopkins with 5½ years to run on lease, longer-term potential for multi-level redevelopment
Rent: $96,000/year net + gst
Outcome: sold for $3.61 million at a 2.66% yield
Agents: Tonia Robertson, Ranjan Unka & Terry Kim

North-west

Henderson

42 Paramount Drive, units 6 & 7:
Features: 280m² for 2 units consented for restaurant use, separate entrances, in retail complex off Lincoln Rd
Outcome: sold vacant for $1.408 million
Agents: David Han, Terry Kim & Matt Lee

South

Beachlands

40 9th View Avenue:
Features: 1416m² site zoned residential – terrace housing & apartment building, opposite entranceway to Pine Harbour marina, modern 640m² single-level showroom building;
Rent: $36,443/year holding income
Outcome: sold for $1.65 million from lease to Pine Harbour Motorsport Museum
Agents: Nick Bayley & Dave Stanley

East Tamaki

46 Neilpark Drive:
Features: 2100m² site, 2 adjoining clearspan warehouse & office units totalling 1012m²
Rent: $110,000/year net + gst holding income from short-term leaseback of both units to vendor
Outcome: sold shortly after auction for $2.65 million
Agents: Katie Wu, John Bolton & Roy Rudolph

Papakura

80 Hunua Rd, lot 2:
Features: 9453m² site, 6302m² warehouse
Rent: $360,000/year net + gst     
Outcome: passed in at $4 million
Agents: Shane Snijder & Peter Migounoff

Wiri

55 Ash Rd, unit 4:
Features: 200m² unit in industrial precinct, parking
Rent: $28,600/year net + gst
Outcome: passed in at $625,000
Agents: Karl Price & Nick Bayley

South of the Bombays

Manawatu – Dannevirke

69 High St:
Features: 617m² site, 693m² building, long-term tenant Westpac on new 5-year lease, 3 more 3-year rights of renewal, second tenant Cooly Properties Ltd on one-year lease to end of next year
Rent: $59,000/year net + gst from bank, $30,000/year net + gst from second tenant
Outcome: no bid
Agent: Rollo Vavasour

Attribution: Auction.

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Quay West & Metropolis apartments & Onehunga warehouse sell

The cranes for the 39-storey Commercial Bay office tower across the road are encroaching on Quay West harbour views, but the apartment block at the foot of Albert St still carries prestige.

A 12th-floor unit which will retain its north-westerly views across the Wynyard Quarter sold for about $9000/m² (net of an allowance for parking) at Barfoot & Thompson’s city auction today.

A smaller Metropolis apartment also sold, and a small Onehunga warehouse sold for $3661/m² (consented space).

Apartments

CBD

Albert St

Quay West, 8 Albert St, unit 1204:
Features: 132m² north-west corner, air-conditioned, 2 bedrooms, 2 bathrooms including ensuite with a bath, wraparound balcony, secure parking space
Outgoings: body corp levy $12,747/year
Income assessment: $830/week, fixed until January
Outcome: sold for $1.285 million
Agent: Belinda Illingworth

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2615:
Features: one bedroom
Outgoings: body corp levy $4909/year
Outcome: sold for $401,000
Agent: Estee Zeng

Commercial

Isthmus east

Onehunga

10C Hill St:
Features: 183m² roadfront warehouse unit – 168m² warehouse, 15m² ground-floor office plus unconsented 20m² mezzanine, 3.5m stud height, 3-phase power & container access, 2 parking spaces         
Outcome: sold vacant for $670,000
Agents: Nick Wilson & James Marshall

Attribution: Auction.

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Silverdale industrial & Onehunga home unit sell

An industrial unit at Silverdale and a refurbished brick & tile unit in Onehunga were sold at Bayleys auctions around Auckland this week.

Commercial

North-east

Silverdale

29 Peters Way, unit B:
Features: 285m² industrial unit 250m² workshop, 35m² first-floor office, mezzanine across rear of workshop, 5 parking spaces
Outcome: vendor vacating, sold for $680,000
Agent: Rosemary Wakeman

Residential units

Isthmus east

Onehunga

66A Cameron St, unit 1:
Features: 2-bedroom unit, garage & workshop
Outcome: sold for $706,000
Agent: John Procter

Royal Oak

2 Raurenga Avenue, unit 2:
Features: 2-bedroom unit, internal-access garage
Outcome: passed in, back on market at $915,000
Agent: John Procter

Attribution: Agency release.

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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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8 out of 10 sell at Bayleys commercial auction

8 of the 10 properties in Bayleys’ Total Property commercial auction yesterday were sold under the hammer.

6 of them were vacant or with short leases. Of the 3 where a yield could be calculated, an Asian supermarket in Papakura (outlined in picture) sold at 4.7%, a Grange hair salon at Warkworth sold at 5.9% and a Birkenhead property with 5 tenants sold at 6%.

Isthmus east

Onehunga

12 George Terrace:
Features: vacant 521m² site, 515m² refurbished standalone industrial building, zone allows live/work or residential
Outcome: sold for $1.4 million
Agents: James Valintine & William Gubb

Parnell

11 Farnham St:
Features: 269m² site, standalone building with 4 levels built 10 years ago, 659m² floor area, private lift to penthouse on top 2 floors, conservatory, 4 bedrooms, 5/6-car garage + secured yard parking on ground floor, partitioned office & amenities on level 1, air-conditioned on levels 1-3
Outcome: sold for $3.22 million
Agents: Millie Liang

St Johns

121 Morrin Rd:
Features: 4755m² site, 2312m² high stud warehouse, 6 roller doors, small office, yard + parking
Rent: short-term tenancy in place
Outcome: sold for $6.81 million
Agents: Jamsheed Sidhwa, Luke Carran & James Valintine

North-east

Birkenhead

49-55 Birkenhead Avenue:
Features: 801m² site, 481m² floor area, 5 tenants, town centre zoning has 21m height limit
Rent: $112,070/year net + gst
Outcome: sold for $1.867 million at a 6% yield
Agents: Michael Nees, David Huang & Oscar Kuang

Browns Bay

755 Beach Rd:
Features: vacant 1029m² site, 70m² building, mixed use zoning allows building height up to 4 storeys
Outcome: passed in at $700,000
Agents: Ranjan Unka & Anna Radkevich

Rosedale

372 Rosedale Rd, unit 2A:
Features: 186.7m² first-floor office, 6 parking spaces, tenant Bayleys Real Estate Ltd
Rent: $58,209/year net + gst + outgoings, 18-month lease from 1 April, 2 18-month rights of renewal
Outcome: no bid
Agents: Matt Mimmack & Eddie Zhong

Unsworth Heights

1 Greenwich Way, shop 7:
Features: 186m² retail unit, tenant BookPrint Ltd
Rent: $51,520/year net + gst + outgoings
Outcome: withdrawn from auction
Agents: Dean Gilbert-Smith & Adam Curtis

Warkworth

The Grange, 67 Auckland Rd, unit 22A & 22B:
Features: 119m² shop, tenant Vivo Beauty Ltd
Rent: $49,100/year net + gst, new 8-year lease
Outcome: sold by the developer, Square & Main Street Ltd (Adam Reynolds) for $830,000 at a 5.9% yield
Agents: Matt Lee, James Chan & Henry Napier

North-west

Henderson

111 Lincoln Rd, unit FB:
Features: retail unit, tenant Petstock
Rent: $105,000/year net + gst, new 6-year lease
Outcome: withdrawn from auction
Agents: Tony Chaudhary & James Chan

South

East Tamaki

20 Ra Ora Drive:
Features: vacant 4885m² site, metalled, fenced & electronic security gate, former Howick Bus Co Ltd depot
Outcome: sold for $2 million
Agents: John Bolton, Roy Rudolph & Katie Wu

Papakura

303-305 Great South Rd:
Features: 2023m² site zoned business mixed use, Asian supermarket tenant
Rent: $161,740/year net + gst, new 4-year lease + 3 4-year rights of renewal
Outcome: sold for $3.44 million at a 4.7% yield
Agents: Quinn Ngo, Matt Lee & Piyush Kumar

Takanini

305 Great South Rd:
Features: vacant 990m² industrial site, 448m² warehouse
Outcome: sold for $1.52 million
Agents: Shane Snijder & Peter Migounoff

Attribution: Auction.

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2 townhouse sales

A duplex unit in Royal Oak was sold at Bayleys’ suburban auction series last week and an Onehunga townhouse was sold post-auction.

Isthmus east

Onehunga

9C Curzon St:
Features: single-level 3-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: sold post-auction
Agent: Glenn Baker

Royal Oak

22 Turama Rd, unit 2:
Features: 152m², 2-bedroom duplex, double internal-access garage
Outcome: sold for $935,000
Agent: John Procter

North-east

Red Beach

15A Fairway Avenue:
Features: m², 2-bedroom townhouse, office, double garage
Outgoings: rates $/year including gst; body corp levy $/year
Income assessment: $/week
Outcome: passed in
Agents: Karen Asquith & Graeme Mann

Attribution: Agency release.

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All 4 commercial properties sell at Barfoots auction

All 4 commercial properties auctioned at Barfoot & Thompson’s city office yesterday were sold, one shortly after auction.

All 4 went at yields of 5% or slightly over that, although a mainstreet shop in Henderson (pictured) was rated “comfortably under-rented”.

Isthmus east

Onehunga

134 Captain Springs Rd:
Features: 1343m² light industrial site, 1002m² building – 908m² warehouse, 94m² office, near new roof & guttering, 3-phase power, leased to Vaico Ltd on 3+3+3-year lease term, market rent reviews every 2 years
Rent: $109,800/year net + gst     
Outcome: sold for $2,187,500 at a 5% yield
Agents: Nick Wilson & James Marshall

Panmure

2 Domain Rd:
Features: 248m² corner site, 49m² workshop, rezoned terraced housing & apartments
Rent: $24,000/year net + gst from long-term tenant
Outcome: sold post-auction for $460,000 at a 5.2% yield
Agent: Mike Jensen

Parnell

155 Parnell Rd:
Features: 68m² ground-floor retail unit, tenant on new 6-year lease from July 2016, covered parking space
Rent: $59,700/year net + gst + outgoings         
Outgoings: body corp levy $11,523/year
Outcome: sold for $1,172,500 at a 5.1% yield
Agents: John Stringer & Agnes Teh

North-west

Henderson

397 Great North Rd:
Features: 271m² site, 200m² mainstreet retail; auctioneer Murray Smith said the rent was “comfortably below market – it could be heading up to $40,000”
Rent: $27,130/year net + gst at a 4.98% yield on current rent, 7.3% on the potential $40,000
Outcome: sold for $545,000
Agents: Duane Mullooly & Chris Peterson

Attribution: Auction.

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