Bidding on a leasehold unit in the Scene 1 apartment building yesterday began at $50,000, jumped quickly to a dollar short of $100,000, then continued mostly in $1000 raises before selling at $145,000. The unit had been promoted with a declared reserve of $99,000.
All 3 apartments and one of 2 retail units in The Foundation on Oteha Valley Rd, Albany, were sold at Bayleys’ auction on Wednesday.
9 apartments & suburban townhouses were sold under the hammer at Barfoot & Thompson’s auction on Wednesday, or at pre-auction.
Auckland Council’s governing body agreed yesterday to pay $23.8 million to owners of units in the Nautilus apartment building at Orewa.
4 apartments sell at Ray White auction – New signs bylaw in place but healthy food addition rejected – New filming fees schedule – Nuisance bylaw – Shakeup & higher chief executive delegation agreed
Council withdraws opposition to Rosedale subdivision – NZTA to seek PPP proposals for Puhoi highway stage – Auckland Transport to review north-west needs – Auckland Transport adopts parking strategy – Metro Glass just ahead of forecast
3 apartments & restaurant unit sell – 9 apartments sell at Barfoots – One sells at City Sales auction
One apartment was sold and the other passed in at City Sales’ auction today.
7 retail, fastfood & gym units in the Millwater Central neighbourhood centre on the Hibiscus Coast were sold under the hammer at Colliers International’s auction today – the first 4 at yields of 4.9-5.1%.
SkyCity Entertainment Group Ltd & the Government agreed yesterday on a revised preliminary design for the international convention centre proposed for SkyCity’s site between Hobson & Nelson Sts.
9 sell out of 12 properties at Colliers auction – Convention centre agreement reached – aim to start this year – Tenders in soon for Quay St Copthorne’s remodelling
Construction litigation specialist Adina Thorn said today the UK’s biggest litigation funder had agreed in principle to back a New Zealand class action against manufacturers of defective plaster cladding.
NZX-listed commercial property owner NPT Ltd lifted its net trading profit for the March year by 16%, but a smaller gain in unrealised property revaluations resulted in a 16.3% fall in net profit after tax.
One apartment was sold at Bayleys’ residential auction on Wednesday and one at the agency’s Remuera auction.
The Social Housing Reform (Flexible Purchasing & Remedial Matters) Bill was passed by Parliament this week.
The Ministry of Business, Innovation & Employment has released the Guide to tolerances, materials & workmanship in new residential construction 2015.
Hawkins Group Ltd subsidiary Harker Underground Construction Ltd unveiled its new look this week as it plans to take its expertise & experience international.
A vacant North Shore boarding house, a cbd apartment and 6 suburban residential units sold through Barfoot & Thompson’s auction on Wednesday, including 2 units sold prior.
Augusta Capital Ltd lifted its profit from $1.99 million to $10.39 in the March year, which managing director Mark Francis said was one of structural change with business acquisitions, establishing the new corporate team and the movement towards a greater emphasis on funds management.
DNZ Property Fund Ltd lifted operating profit before tax & other income for the March year by 13.1%, an outcome chief executive Peter Alexander described as “a positive result in favourable market conditions and with the support of a leaner, more efficient business.”
NZF Group Ltd’s board resolved on Thursday to appoint Tony Maginness of McDonald Vague as administrator of the company.
Ryman Healthcare Ltd reported a record underlying profit for the 13th consecutive year, this time up 15.3% to $136.3 million, and said it had set itself a target of opening 5 retirement villages in Melbourne by 2020.
Bob Dey Property Report weekly diary Auckland Council, auctions, economy, events, Parliament, securities
Auckland Council will shake up the way its politicians do business when they meet in the former North Shore council chamber in Takapuna on Thursday.
A proposal for Auckland Council to optimise the value capture potential of its substantial Aotea Quarter landholdings is made in a report to Wednesday’s city centre advisory board meeting, but without detail.
Auckland Council is formulating a new cleaning & maintenance plan for the cbd, expected to cost $3.25 million/year more to do it to a higher standard, with some transfer of funding between the city centre targeted rate, Auckland Transport & general rating.
High Court judge Denis Clifford has told the Waitangi Tribunal to get on with resolving Maori claims relating to thousands of hectares north of Gisborne instead of putting the matter in the ‘too hard’ basket.
Dixon joins JLL as leasing broker – Mallard named Xigo chairman – Abraham to head Steel & Tube distribution – Environment Ministry appoints Wratt to advisory role – Council hires people & capacity director after short stint at health board – Bayleys names 2 new property services chiefs – Holmes joins Context Architects – JJ Hong moves up to agency at JLL – Paterson & Ridley-Smith join Arvida board – Collis joins Gaze Property Solutions – Sweetman joins Precinct to do Downtown retail – Tyrie to manager Property Group’s Auckland office – Stringer returns to CBRE in new roles – Cassels-Brown takes new airport people & safety job
11 of 16 properties on Bayleys’ Total Property commercial auction list were sold, including one prior & another 2 after Wednesday’s auction.
One Rotorua property in Bayleys’ second Total Property auction series was sold this week, another in Palmerston North, and all 3 Wellington properties were sold under the hammer.
2 warehouse properties were sold under the hammer and one passed in at Colliers’ auction on Wednesday.
Bayleys agents have completed 2 more sales out of the agency’s first Total Property auction for the year, plus 3 more sales – in a price range from $1.15 million up to an industrial complex at $5.64 million.
Local Government NZ unveiled a programme this week to improve councils’ performance.
The Budget allocates $41.2 million to 3 environmental projects
The Budget allocates $248.9 million more to transport-related projects over the next 4 years, mostly to keep KiwiRail in business.
The Government has established a $52.2 million capital contingency fund in Budget 2015 to facilitate housing development on Crown-owned land in Auckland. Building & Housing Minister Nick Smith took ownership of this scheme.
A unit in the Beaumont, across the road from Victoria Park, and a studio in the Quadrant’s hotel pool sold quickly under the hammer at Ray White City Apartments’ auction today.
The net inflow of 2962 migrants in April took the annual boost to the population to 56,813. The flow across the Tasman turned positive in April.
2 apartments sell after rapidfire bidding – Net migrant inflow jumps to 56,800/year
Late addition to the Kiwi takeup – 2 sell at Colliers – 10 sell in Bayleys’ Total Property auction – Boarding house, 7 apartments & residential sell at Barfoots – 2 apartments sell at Bayleys – Goodman lifts profit 34% & considers new bond issue – Kiwi gets 93% institutional takeup
The Financial Markets Authority said today it had removed 23 entities from the Financial Services Provider Register and prevented another 20 from completing registration.
Warehouse completes bond bookbuild and sets interest rate – Infratil lifts earnings and prepares for more growth
RICS (the Royal Institution of Chartered Surveyors) announced its annual awards on Monday.
Dorchester Hotel Property Trust Management Ltd has sold its biggest asset to a party related to a director as unitholders head to a meeting called by 2 disenchanted investors.
The Government has opened up consultation on a new system for managing buildings following a disaster like a major earthquake or storm.
NZX-listed Augusta Capital Ltd’s syndication subsidiary, Augusta Funds Management Ltd, has launched a proportionate ownership scheme for a Christchurch industrial property through Bayleys.
Kiwi Property Group Ltd increased after-tax profit by 13.7% to $115.2 million for the March year, and launched a 1:9 entitlement offer on Wednesday to fund a $150 million retail expansion & $45 million office development at Sylvia Park.
Kiwi Property Group Ltd provided a long list of highlights in its annual results package.
Among the ironies of political & business life in Auckland, Waterfront Auckland sits at the forefront. As a council-controlled agency, its budget is always a target for reduction, yet its key role is the promotion of excellence.
Mansons TCLM Ltd unveiled its plans at the weekend for a $675 million redevelopment of the 4258m² NZ Herald site at 46 Albert St.
How many ministers does it take to explain that some softly-softly measures to restrain property speculation don’t amount to a new tax? 3.
Research by JLL shows 12 new retirement villages were built in New Zealand last year, and an average 13.6/year would be needed to meet demand over the next 30 years.
Oyster Property Group Ltd’s latest syndication – a proportionate ownership scheme launched in February for the $27 million ANZ Business Centre at 9 Corinthian Drive, Albany – has closed fully subscribed.
The diary’s been updated this week with several hearing & submission entries. Also from the council, a few agenda items for 3 local boards. The diary is updated weekly and contains main Auckland Council agenda items, hearings & submission closing dates, plus auctions, economic & property-related events, property- & finance-related bills before Parliament and securities information.
Ever since the super-city Auckland Council was elected in October 2010, the simple way for councillors to get a better handle on the multitude of documents passing before their eyes was to tell the source of the most important documents that arrive late – the mayor – to come back tomorrow.
Auckland Council’s Auckland development committee approved the format yesterday for a year-long ports study.
A protester climbing a Titirangi kauri tree caused severe palpitations within the depths of Auckland Council’s planning & consenting departments, but after a couple of hours’ debate on a process review yesterday, council customers can be assured that nothing much is about to change for the better.
A Jervois Rd building containing 2 shops with upstairs space has sold at better than $4300/m² land.
Former financial advisor Andrew Hrothgar Robinson (42) pleaded guilty in the Auckland High Court on Wednesday to 6 charges laid by the Serious Fraud Office following an investigation begun in 2012.
The New Zealand commercial property market has outperformed globally over the last 5 years, according to the Property Council’s latest research.
2 investors in the property trust Dorchester Pacific Ltd (now Turners Ltd) created 5 years ago as part of its exit from a moratorium have forced a meeting to get themselves elected as trust managers.
All 4 apartments taken to auction at Ray White City Apartments today sold under the hammer, and quickly.
Ports study format agreed – All 4 apartments sell at Ray White auction – Council approves plan changes, discusses consent process review
All 3 units offered at City Sales’ apartments auction yesterday were passed in after only one bid on each, 3 hours after Reserve Bank governor Graeme Wheeler announced a tighter rein on residential investors.
A “sausage block” flats development in Epsom and a brand new apartment in the SugarTree development were sold under the hammer at Barfoot & Thompson’s auction yesterday.
A property opposite Auckland Hospital in Grafton, containing 2 shops with a refurbished apartment above, was sold under the hammer at Colliers International’s auction yesterday.
Converted sausage block sells – New Reserve Bank constraint proves formidable barrier – Wheeler dumps new constrain on investors – Grafton shops + apartment sells
The Reserve Bank announced changes to the loan:value ratio (LVR) restrictions on Auckland housing today, to take effect from 1 October.
DTZ’s new owners fold it into Cushman & Wakefield – Regus signs deal with Colliers – Chinese Government company buys out Fairway Bay part-owner
The Real Estate Institute said yesterday the median sale price in Auckland was unchanged from March to April at $720,000, but that figure is $108,500 (17.7%) higher than the median in April last year.
Bob Dey Property Report weekly diary Auckland Council, auctions, economy, events, Parliament, securities
Syndication of an Albany office building has been completed, and Colliers agents on the North Shore have also sold a Rosedale office unit.
Auckland Council has counted at least 46 groups likely to be involved in its $1 million-plus port future study, including recent outspoken critics of further reclamation.
Building & Housing Minister Nick Smith announced a revised earthquake strengthening policy today, stretching the assessment period in more than half the country and pushing out to 35 years the timeframe for work having to be done in Auckland.
Auditor-general Lyn Provost speaks mildly & matter-of-factly when she chides a council, but chide Auckland Council for its building consent processes she has.
Auckland Council chief executive Stephen Town delivered some home truths to an audience of Colliers International clients on the eve of the council’s budget committee meeting. Under the Stephen Town regime the council will…