Tag Archives | Ray White

1 of 4 apartments sells in light bidding

Light bidding saw just one of the 4 apartments sold at Ray White City Apartments’ auction today, a unit in Siena Terrace in Grey Lynn (pictured).

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Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1412:
Features: 32m², fully furnished studio
Outgoings: rates $1350/year including gst; body corp levy $4002/year including gst for the year ending 28 February
Income assessment: $400/week
Outcome: passed in at $301,000
Agent: Damian Piggin

Victoria Quarter

Altitude, 34 Kingston St, unit 3K:
Features: 27m², fully furnished 1 bedroom
Outgoings: rates $994/year including gst; body corp levy $3044/year including gst
Income assessment: $430/week
Outcome: passed in at $206,500
Agent: Dusan Valenta

Isthmus west

Grey Lynn

Siena Terrace, 6 Burgoyne St, unit 2F:
Features: over 50m², fully furnished 1 bedroom, tandem basement parking
Outgoings: rates $1321/year including gst; body corp levy $3852/year including gst
Outcome: sold for $475,000
Agent: Keisha Gutierrez

Mt Eden

Eden Green, 43 Edwin St, unit 424:
Features: 67m², 1 bedroom + flexi-room, 8m² balcony, storage unit, secure parking space
Outgoings: body corp levy about $4000/year including gst
Outcome: passed in after bid at $850,000, vendor bid at $880,000
Agent: Casey Chen

Attribution: Auction.

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3 apartments out of 5 sell at auction

3 of the 5 units auctioned at Ray White City Apartments today were sold under the hammer.

The first property offered, in Mt Eden (pictured), attracted 19 bids; the next, on Symonds St, got no bid although buyers were in the room, and the other 3 attracted 10 bids between them. An owner-occupied unit in the Quadrant, across Waterloo Quadrant from Auckland University, attracted one bid followed by considerable negotiation and sold to the original bidder after a 20% raise.

The lack of bidding, combined with reduced interest from traders & overseas buyers, is forcing agents to pay closer attention to conditional offers, which backed up all of today’s offerings.

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Learning Quarter

Pembridge, 38 Symonds St, unit 10:
Features: 37.8m², furnished 1 bedroom, parking space; new kitchen & bathroom
Outgoings: rates $1149/year including gst; body corp levy $3606/year including gst
Outcome: no bid
Agents: Judi & Michelle Yurak

The Quadrant, 10 Waterloo Quadrant, unit 1609:
Features: 41m², 3m² balcony; originally 2 bedrooms off plan but converted by developer to 1 bedroom, separately titled parking space
Outgoings: rates $1543/year including gst; body corp levy $5396/year including gst for unit, $1215/year for parking
Outcome: sold for $480,000
Agent: Damian Piggin

Uptown

CityZone, 11 Liverpool St, unit 1611:
Features: 18m² furnished studio
Outgoings: rates $946/year including gst; body corp levy to October 2018 $2704/year including gst, proposed new levy $2872/year including gst
Outcome: sold vacant for $200,000
Agents: Judi & Michelle Yurak

Isthmus east

Grafton

8 on Nugent, 8 Nugent St, unit 410:
Features: 78m², 2 bedrooms, 2 bathrooms, parking space, offered with vacant possession
Outgoings: rates – unit $2219/year including gst, parking $583/year; body corp levy – unit $4395/year including gst, parking $389/year
Income assessment: $600-650/week
Outcome: passed in at $750,000
Agents: Mitch Agnew & Ryan Bridgman

Isthmus west

Mt Eden

12 Charles St, unit 1J:
Features: 35m², 1 bedroom, large balcony, parking space, new code compliance certificate issued
Outgoings: rates $953/year including gst; body corp levy $3745/year including gst
Outcome: sold for $391,000
Agent: Damian Piggin

Attribution: Auction.

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Bank’s Henderson centre among 4 commercial sales

Ray White Commercial agents have sold 4 properties around Auckland, 3 in conjunction with other Ray White agencies. One is on Newmarket Broadway, 2 are in Grey Lynn and the biggest, ASB Bank’s north-west regional centre, is in Henderson.

Isthmus east

Newmarket

25 Broadway:
Features: 193m² office space 
Rent: leased to Fuse Creative Ltd for $95,000/year net + gst, 3-year lease with 2 3-year rights of renewal
Agents:Conrad Traill & Natasha Christensen

Isthmus west

Grey Lynn

36 Douglas St:
Features: 259m² character villa zoned business mixed use
Outcome: sold for $1.65 million
Agents: Conrad Traill & Natasha Christensen (Ray White Commercial) & Ray White Damerell Group Ponsonby

24A Williamson Avenue:
Features: 356m² site zoned mixed use urban, 201m² street-level warehouse, 2-bedroom loft apartment with rooftop terrace & deck, 5 parking spaces
Outcome: sold for $3.45 million
Agents: John Davies & Natasha Christensen (Ray White Commercial) & Ray White Damerell Group Ponsonby

North-west

Henderson

288-290 Lincoln Rd:
Features: 1871m² site, 1504m² building, ASB West Auckland regional centre on 9-year lease running until January 2022
Outcome: sold for $10.15 million at a 6% yield
Agents: John Davies & Nigel Ingham (Ray White Commercial) & Ron Yang (Ray White City Apartments)

Attribution: Agency release.

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Spencer & Zest apartments sell

2 apartments in the Spencer on Byron (pictured) & Zest were sold at Ray White City Apartments’ final auction for the year yesterday.

No bid was made for a unit in the leasehold Docks complex, where owners are progressing a leaky building claim & remedial work. The top bid for the fourth property up for auction, a house at Greenhithe, went on an offer contract.

The agency will resume its auctions on 24 January.

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Quay Park

The Docks, 4 Dockside Lane, unit 311:
Features: leasehold, 74m², 2-bedroom corner apartment, balcony, parking space; the building has leaky issues and the buyer waives any right of recovery against the vendor; the buyer will be liable for any further levies
Outgoings: rates $1904/year including gst; body corp levy $18,586/year including gst, which includes ground rent of $11,785/year
Income assessment: $660/week until August
Outcome: no bid
Agent: Victor Liu

Victoria Quarter

Zest, 72 Nelson St, unit 627:
Features: 37m², 2 bedrooms, parking space
Outgoings: rates $1265/year including gst; body corp levy $4901/year including gst
Income assessment: unit $400/week until February, park $65/week until April
Outcome: sold for $380,000
Agent: Victor Liu

North-east

Greenhithe

1 Northbrook Close:
Features: 505m² section, 176m² house, 4 bedrooms, 2 bathrooms, double garage + offstreet space
Outgoings: rates $2694/year including gst
Outcome: passed in with offer on contract at $1.01 million
Agents: Zoran Farac & Marco Sahar

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 1008:
Features: 48m², one bedroom with French doors to balcony, parking space
Outgoings: rates $5391/year including gst; body corp levy $3874/year including gst
Outcome: sold for $336,000 + gst
Agents: Gillian Gibson & James Mairs

Attribution: Auction.

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Ivory, Statesman & Columbia apartments sell

3 apartments sold out of 8 auctioned at Ray White City Apartments yesterday.

Bidding got down to $500 raises before the first unit on the list, in the Ivory in Grey Lynn (pictured), was sold, and the same happened for a Columbia unit in Whitaker Place. The pace was quite different for the Statesman unit auctioned between those 2 – one bidder, 2 offers in the room & another large raise later to seal the deal.

CBD

Learning Quarter

Waldorf Bankside, 8 Bankside St, unit 7F:
Features: 30m² studio +
2m² balcony 
Outgoings: rates $1130/year including gst; body corp levy $4494/year including gst
Income assessment: $400-450/week
Outcome: passed in at $260,000
Agent: Dusan Valenta

Waldorf Bankside, 8 Bankside St, unit 18D:
Features: 30m², top-floor studio
Outgoings: rates $4979/year including gst; body corp levy to be confirmed
Income assessment: $400-450/week
Outcome: passed in at $270,000
Agents: Mitch Agnew & Ryan Bridgman

The Statesman, 1 Parliament St, unit 1208:
Features: 66m² + 21m² wraparound balcony, 2 bedrooms, basement parking space
Outgoings: rates $2195/year including gst; body corp levy $6505/year including gst
Outcome: sold shortly after auction for $870,000
Agents: Judi & Michelle Yurak

Columbia, 15 Whitaker Place, unit 8D:
Features: 42m², furnished 3 bedrooms, one bathroom
Outgoings: rates $994/year including gst; body corp levy $6015/year including gst
Outcome: sold for $183,000 + gst
Agents: Damian Piggin

Quay Park

Scene 3, 30 Beach Rd, unit 510:
Features: 77m², furnished one bedroom, study, covered balcony, parking space, storage room
Outgoings: rates $1691/year including gst; body corp management levy $5145/year including gst, ground rent $10,250/year reviewed as at 2 August 2018, to be backdated once review finalised
Income assessment: $600/week apartment + parking fixed until 25 February, $60/week storage, rental appraisal $650-680/week furnished
Outcome: no bid
Agents: May Ma & Mark Li

Uptown

Hereford Residences, 8 Hereford St, unit 1805:
Features: 52m², one bedroom, parking & storage lockers available to buy
Outgoings: rates $2018/year including gst; body corp levy $2616/year including gst
Outcome: no bid
Agent: Anna Birkenhead

Isthmus west

Eden Terrace

Basque Central, 14 Exmouth St, unit 1E:
Features: 70m² + 12m² balcony, 2 bedrooms, 2 bathrooms, tandem parking
Outgoings: rates $1825/year including gst; body corp levy $7755/year including gst
Outcome: passed in after bid at $550,000, vendor bid at $700,000
Agents: Judi & Michelle Yurak

Grey Lynn

Ivory, 16 Chapman St, unit 6J:
Features: 63m², 2 bedrooms, 2 bathrooms, parking space
Outgoings: rates $1767/year including gst; body corp levy $5058/year including gst
Income assessment: $600-650/week furnished
Outcome: sold for $635,500
Agents: May Ma & Mark Li

Attribution: Auction.

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Guardian & Keystone Ridge apartments sell

A studio in the Guardian on Queen St (pictured) and a unit in Keystone Ridge, at the far end of Dominion Rd, were sold at Ray White City Apartments’ auction today.

Leasehold units in Q Central & Scene 3 and a CityZone apartment were passed in.

Bidding was moderately strong on the freehold units. For Q Central there were 2 bids and for Scene 3, with the ground lease still under review, there were none.

CBD

Quay Park

Scene 3, 30 Beach Rd, unit 1007:
Features: leasehold, 45m², one bedroom, balcony, parking space
Outgoings: rates $1381/year including gst; body corp levy $4397/year including gst, ground rent $8759/year but under review – new ground rent will be backdated to review date 2 August 2018
Income assessment: current $565/week unfurnished, fixed until 28 April; appraisal $580-600/week furnished, $560-580/week unfurnished
Outcome: no bid
Agents: May Ma & Mark Li

Queen St

Guardian, 105 Queen St, unit 609:
Features: 32m² furnished studio, high stud, used for airBnB currently at over 90% occupancy
Outgoings: rates $1493/year including gst; body corp levy $3198/year including gst
Outcome: sold for $295,000
Agents: Mitch Agnew & Ryan Bridgman

Uptown

Q Central, 11B City Rd, unit 7D:
Features: leasehold, 62m², 2 levels, 2 bedrooms, tandem parking
Outgoings: rates $1604/year including gst; body corp levy $4221/year including gst, ground rent $9797/year fixed until December 2023, lease expires in 2086
Income assessment: $575/week ($510 for apartment, $65 for parking)
Outcome: passed in at $105,000
Agent: Josh Muriwai

CityZone, 11 Liverpool St, unit 1406:
Features: 44m², 2 bedrooms
Outgoings: rates $1265/year including gst; body corp levy $4094/year including gst
Income assessment: $500-520/week furnished
Outcome: passed in at $327,000
Agents: Susan Woods-Markwick & Liam Kyle

Isthmus west

Mt Roskill

Keystone Ridge, 3 Keystone Avenue, unit 2P:
Features: 48m², fully furnished 2 bedrooms, renovated, parking space
Outgoings: rates $1340/year including gst; body corp levy $5763/year including gst
Outcome: sold for $505,000
Agents: Mitch Agnew & Ryan Bridgman

Attribution: Auction.

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Emily apartment sells, vendor bids prompt value questions on others at auction

An apartment in the Emily, just off Customs St East in downtown Auckland, was sold at Ray White City Apartments’ auction today. 3 others were passed in and the auction of another was postponed a week.

The auction opened with no bid on the first property up, in Nugent Rise, Mt Eden, followed by an auctioneer’s vendor bid putting the value at close to $10,000/m².

The one unit that was sold, in the Emily, went for just under $7400/m². The grand old building (pictured above) was converted from a warehouse to apartments 45 years ago.

At the Amora apartments hotel, at the top of Vincent St, a vacant studio had a lot of price tags put on it this month. The one offer at auction was about $10,000/m² for the internal space, excluding parking, but it was back on the market post-auction at about $11,000/m² internal.

At Nugent Rise in Mt Eden, the auctioneer’s indicator worked out at about $9250/m² internal, or about $1000/m² less if the loggia (internal balcony) is counted as internal space.

All these price variables can occur for a lot of reasons – age, condition (especially remediation & its potential cost), the price of parking, and the gap between new stock & established buildings.

In the decline of the market after the global financial crisis 7-10 years ago, the slide in prices was across the board. At the moment, reasons for price movement are less clear – the availability of finance, exit of Asian buyers and uncertainty about international politics & economics are harder reasons to put precise counts on.

CBD

Learning Quarter

Emily Apartments, 22 Emily Place, unit 5D:
Features: 71m², 2 bedrooms, the building has remediation issues
Outgoings: rates $1711/year including gst; body corp levy $8523/year including gst
Outcome: sold for $525,000 at $7394/m²
Agent: Gillian Gibson

Uptown

Q Central, 11B City Rd, unit 7D:
Features: leasehold, 62m², 2-level 2-bedroom apartment, 2 parking spaces
Income assessment: $575/week current
Outcome: auction postponed to next Thursday, 6 December
Agent: Josh Muriwai

Amora, 100 Greys Avenue, unit 811 (8K):
Features: vacant 36m² studio + 3m² balcony, parking space
Outgoings: rates $1304/year including gst; body corp levy $6526/year including gst
Outcome: bid at $350,000, vendor bid at $400,000, passed in; the unit was bought by the vendor at the end of August for $390,000, was marketed this month with a price tag of $485,000 and was back on the market post-auction at $469,000
Agent: Damian Piggin

Isthmus west

Mt Eden

Mountview, 43 Mary St:
Features: 120m², 3-level 2-bedroom terrace, tandem parking; reclad completed in 2016 & new code compliance certificate issued
Outgoings: rates $2018/year including gst; body corp levy $2973/year including gst
Outcome: passed in at $670,000
Agent: Casey Chen

Nugent Rise, 6A Nugent St, unit 107:
Features: 67m² + 8m² loggia, one bedroom, study, parking space, storage locker
Outgoings: body corp levy $2932/year including gst, $195/year for parking
Outcome: no bid; vendor bid of $700,000 placed to indicate the minimum for a multi-offer backup sale process
Agent: Casey Chen

Attribution: Auction.

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QVB apartment sells

One apartment in the QVB building at the corner of Queen & Victoria Sts sold and one at the top of the cbd was passed in at Ray White City Apartments’ auction today.

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Queen St

QVB, 6 Victoria St East, unit 3F:
Features: 63m², fully furnished one bedroom
Outgoings: rates $1595/year including gst; body corp levy $4820/year including gst
Income assessment: $470-500/week furnished
Outcome: sold for $450,000
Agents: Mitch Agnew & Ryan Bridgman

Uptown

Uptown, 14 Upper Queen St, unit 6G:
Features: vacant 40m² + 10m² balcony, one bedroom, parking space
Outgoings: rates $1440/year including gst; body corp levy $3400/year including gst
Income assessment: $530-580/week
Outcome: no bid
Agent: Gillian Gibson

Attribution: Auction.

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Studio pushes to new price level in resale as buyers put pressure on other reserves

3 of the 9 apartments auctioned at Ray White City Apartments yesterday – in 96 on Symonds, the Sapphire & Siena Terraces – were sold under the hammer.

Bidding on the studio in 96 on Symonds (pictured above) ended $31,000 above the price the owner paid at auction just 5 months ago. A number of other traders expressed surprise at the $12,056/m² price paid in June, although units smaller than the minimum that can be built these days often command higher price tags for their superior anticipated cashflow. This sale lifts the price/m² to $13,778.

Bidding on 2 units in the leasehold Landings complex beside the old Auckland railway station, and in the Manhattan on Albert St, fell about $20-30,000 short of adjusted reserves yesterday.

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Albert St

Manhattan, 105 Albert St, unit 5C:
Features: 80m², 2 bedrooms,
Outgoings: rates $1749/year including gst; body corp levy $5122/year including gst
Income assessment: $560/week, fixed unril 12 December
Outcome: passed in at $571,000
Agents: Ron Yang & Adam Gurr

Learning Quarter

96 on Symonds, 96 Symonds St, unit 1004:
Features: 18m² refurbished studio
Outgoings: rates $975/year including gst; body corp levy $2453/year including gst
Income assessment: $370-390/week
Outcome: bought for $217,000 at auction in June, sold this time for $248,000
Agents: Dominic Worthington & Ady Huang

Sapphire, 76 Wakefield St, unit 810:
Features: 53m² + 6m² balcony, 2 bedrooms,
Outgoings: rates $1478/year including gst; body corp levy $4061/year including gst after 10% prompt payment discount
Income assessment: $500/week
Outcome: sold at pre-auction offer of $485,000
Agent: Lucia Gao

Quay Park

The Landings, 8 Ronayne St, unit 810:
Features: 71m², 3 bedrooms, 2 bathrooms, parking space; building has new code compliance certificate after remediation
Outgoings: rates $1633/year including gst; body corp levy $5548/year opex including gst, ground rent $7976/year
Income assessment: $680/week, fixed until March 2019
Outcome: passed in at $270,000
Agents: Dominic Worthington & Ady Huang

The Landings, 10 Ronayne St, unit 415:
Features: 47m² + 8m² balcony, 2 bedrooms, parking space
Outgoings: rates $1323/year including gst; body corp levy $3118/year opex including gst, ground rent $4482/year
Income assessment: $500/week, fixed until August 2019
Outcome: passed in at $204,000
Agents: Mitch Agnew & Ryan Bridgman

Uptown

SkyView, 7 Scotia Place, unit 8C:
Features: 71m², new 2 bedrooms, parking space
Outgoings: rates $1904/year including gst; estimated body corp levy $4399/year including gst
Income assessment: $750-800/week furnished
Outcome: passed in at $600,000
Agents: May Ma & Mark Li

Bianco off Queen, 2 White St, unit 12B:
Features: 57m², one bedroom, under hotel management, building has remediation issues
Outgoings: rates $6571/year including gst; body corp levy $2216/year opex including gst + special levy $5192
Income assessment: $800/week
Outcome: passed in on sole bid of $60,000
Agents: Ron Yang & Adam Gurr

Victoria Quarter

Altitude, 34 Kingston St, unit 5L:
Features: 27m², one bedroom
Outgoings: rates $1013/year including gst; body corp levy to be confirmed
Income assessment: $340/week
Outcome: passed in at $205,000
Agent: Damian Piggin

Ascent, 149 Nelson St, unit 303:
Features: one bedroom
Outcome: withdrawn from auction
Agent: Damian Piggin

Isthmus west

Grey Lynn

Siena Terraces, 6 Burgoyne St, unit 2N:
Features: 51m², one bedroom, balcony, tandem parking spaces
Outgoings: rates $1321/year including gst; body corp levy $3769/year including gst
Outcome: sold for $490,000
Agents: Judi & Michelle Yurak

Attribution: Auction.

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2 city apartments sell at auction

2 units were sold at Ray White City Apartments auction today, and an Onehunga townhouse was passed in.

In a market where vendors have been under pressure to meet a generally lower bidding range, the reserve on a CityZone apartment was dropped to $300,000 (about $7800/m² internal), and then dropped another $5000. In the ensuing bidding frenzy, a sale at $300,500 resulted.

A studio in Oakwood Hall on Wakefield St (pictured) sold at $8000/m² internal, so both sales were in what seems the acceptable range at the moment for good secondary stock. For comparison, a 29m² Oakwood Hall studio sold at auction in June last year for $283,000, so about $9800/m², at a time when prices for older apartments were still rising to fill the gap of about $5000/m² between them & brand-new apartments.

CBD

Learning Quarter

Oakwood Hall, 81 Wakefield St, unit 9C:
Features: 30m² studio, 6m² balcony
Outgoings: rates $1110/year including gst; body corp levy $5261/year including gst
Income assessment: $430/week
Outcome: sold for $240,000
Agents: Damian Piggin & Krister Samuel

Uptown

CityZone, 11 Liverpool St, unit 1912:
Features: 40m² including 1.5m² balcony, 2 bedrooms
Outgoings: rates $1246/year including gst; body corp levy $4319/year including gst
Income assessment: $500/week, fixed until 15 February
Outcome: sold for $300,500
Agents: Damian Piggin & Krister Samuel

Isthmus east

Onehunga

36A Hill Rd
Features: cross-leased, 157m², refurbished 2-storey 3-bedroom townhouse, double internal-access garage
Outgoings: rates $2517/year including gst; body corp levy $/year including gst
Income assessment: $730-780/week unfurnished
Outcome: passed in at $910,000
Agent: Adam Gurr

Attribution: Auction.

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