Archive | Kitchener St

Sale St redevelopment sells

A redeveloped building on Sale St (pictured), above Victoria Park, and 2 development properties at Greenlane & in Papakura are the leading sales in Colliers’ latest transactions list.

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Kitchener St

2 Kitchener St, unit 1:
Features: 1026m² retail unit, 3 tenancies
Rent: $223,500/year net + gst
Outcome: sold for $3.5 million + gst at a 6.39% yield
Agents: Adam White, Simon Felton & Gawan Bakshi

Victoria Quarter

Hobson Towers, 26 Hobson St, level 6:
Features: 325m² office floor, 14 parking spaces
Outcome: sold with vacant possession for $2.03 million + gst
Agents: Tony Allsop, Simon Child & Roger Seavill

34 Sale St:
Features: 6317m² redevelopment, 4 office floors, 2 parking levels
Outcome: sold for $63 million + gst at “a yield in the early 5%s”
Agents: Simon Child, Sam Gallaugher & Matt Lamb

Isthmus east

Greenlane

614 & 616 Great South Rd, Greenlane.

614 & 616 Great South Rd:
Features: 3867m² commercial property, net lettable area 2125m² in 2 buildings
Outcome: sold for $11.6 million at a 3.1% yield on holding income
Agents: Gareth Fraser, Simon Child, Josh Coburn & Colliers’ capital markets team

South

Papakura

40-44 East St, lot 2:
Features: vacant 1507m² corner site formerly occupied by the New World Papakura carpark
Outcome: sold for $1.54 million + gst
Agents: Chris Wakim & Matthew Barnes

South of the Bombays

Wellington

Petone

140 Hutt Rd:
Features: 1160m² site, 1020m² warehouse, showroom & office, 10 parking spaces
Outcome: sold with vacant possession for $2.475 million + gst
Agents: Kieran Lennon (Colliers) in joint agency with Gollins Commercial

Taita

1115 High St:
Features: 4818m² development site
Outcome: sold with vacant possession for $1.95 million + gst, with quotes in place for the removal of 1170m² of various structures
Agents: Tim Julian & Janette Lillas

Attribution: Agency release.

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7 apartment sales out of 9 units on offer

7 of the 9 apartments & suburban units auctioned by Bayleys last week were sold under the hammer. The mortgagee auction of another unit was postponed.

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Kitchener St

St James, 28-36 Wellesley St, unit 4F:
Features: 2 bedrooms, parking space, across Kitchener St from Auckland Art Gallery & Albert Park
Outcome: sold for $945,000
Agents: Julie Quinton, Diane Jackson & Paula Halford

Queen St

Dilworth, 22-32 Queen St, unit 5G:
Features: studio, high stud
Outgoings: rates $1473/year including gst; body corp levy $4291/year including gst
Outcome: sold for $450,000
Agents: Steve Kirk, Habeeb Urrahman & Chris Cairns

Portland Tower, 62 Queen St, unit 12D:
Features: one bedroom, managed by Quest
Outgoings: rates $5009/year including gst, but hotel pays rebate to owner; income about $11,000/year net + gst
Outcome: sold for $250,000
Agent: Dave Hamlyn

Uptown

CityZone, 11 Liverpool St, unit 1106:
Features: 44m², 2 bedrooms, deck, basement parking space
Outgoings: rates $1246/year including gst; body corp levy $3868/year
Income assessment: $570-600/week
Outcome: sold for $415,000
Agents: Habeeb Urrahman, Steve Kirk & Chris Cairns

Victoria Quarter

Heritage Tower, 22 Nelson St, unit 906:
Features: one bedroom, parking space on separate title, in hotel pool but sold with vacant possession
Outcome: sold for $712,500
Agents: Chris Cairns, Steve Kirk & Habeeb Urrahman

Isthmus east

Onehunga

152 Grey St:
Features: 690m² section zoned mixed housing urban, villa converted into 2 flats, each of 2 bedrooms, parking space
Outcome: sold for $1.325 million
Agent: Eve Park

Parnell

Cleveland Gardens, 22 Cleveland Road, unit 20:
Features: 2 bedrooms, balcony, parking space
Outcome: sold for $850,000
Agent: Fleur Denning

St Heliers

42B Waimarie St:
Features: 348m² terraced townhouse, no body corporate, 4 bedrooms, 2 living rooms, 2 bathrooms, double internal-access garage, utility room, additional storage
Outcome: passed in, back on market at $2.689 million
Agents: David Nightingale & Katya Yushkova

Isthmus west

Avondale

4/76 Riversdale Rd, unit 4:
Features: one bedroom, deck, carport
Outcome: mortgagee auction postponed
Agents: Cherry Killgour & Steve Leyland

North-east

Albany

The Ridge, 71 Spencer Rd, unit C11:
Features: 2 bedrooms, parking space
Outcome: passed in, back on market at $505,000
Agents: Zoe Tietze & Julie Quinton

Attribution: Agency release.

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5 apartments out of 12 sell at auction

5 of the 12 apartments auctioned at Ray White City Apartments yesterday sold under the hammer.

2 vendors had 2 apartments each up for sale and none of them sold first time round. 2 of those units in the leasehold Landings at Quay Park (pictured) sold when offered together, but the other vendor’s pair, in the Zest complex, remained unsold.

Units sold in Kiwi on Queen, Mount Terrace and at Thompson Park in Mt Wellington.

At the bottom of the market, a unit in the Unitec student accommodation village, where remediation is required, attracted just 2 bids and was passed in at $2000.

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Kitchener St

Metropolis, 1 Courthouse Lane, unit 1101:

Features: 35m², one bedroom, storage unit
Outgoings: rates $1265/year including gst; body corp levy $3516/year
Income assessment: $475/week, fixed until 16 January
Outcome: passed in at $402,000
Agents: Ron Yang & Adam Gurr

Learning Quarter

Mount Terrace Apartments, 33 Mount St, unit 15A:
Features: 61m², fully furnished 2 bedrooms
Outgoings: rates $1440/year including gst; body corp levy $7716/year including water
Outcome: sold vacant for $390,000
Agent: Victor Liu

The Wakefield, 18 Wakefield St, unit 7F:
Features: 56m², vacant one bedroom
Outgoings: rates $1362/year including gst; body corp levy $2895/year
Income assessment: $550-580/week furnished
Outcome: no bid
Agents: Dominic Worthington & Ady Huang

Quay Park

The Landings, 10 Ronayne St, units 410 & 510:
Features: both leasehold, each 53m², 2 bedrooms, parking space
Outgoings: unit 410 – rates $1362/year including gst; body corp operational levy $4035/year, ground rent $5800/year; unit 510 – rates $1381/year including gst; body corp operational levy $4172/year, ground rent $5998/year
Income assessment: both $550/week current
Outcome: each passed in at $205,000; both units sold together for $450,000
Agents: Dominic Worthington & Ady Huang

The Landings, 8 Ronayne St, unit 1002:
Features: leasehold, 51m², 2 bedrooms, 2 bathrooms, balcony, tandem parking
Outgoings: rates $1498/year including gst; body corp operational levy $4768/year, ground rent $6955/year
Outcome: passed in after bid at $210,000 & vendor bid at $225,000
Agents: Dominic Worthington & Ady Huang

Uptown

Kiwi On Queen, 421 Queen St, unit 211:
Features: 45m², fully furnished 2 bedrooms
Outgoings: rates $1265/year including gst; body corp levy $4973/year including water
Income assessment: $500-520/week furnished
Outcome: sold vacant for $420,500
Agents: May Ma & Mark Li

Victoria Quarter

Zest, 72 Nelson St, units 214 & 415:
Features: each 23m², fully furnished one bedroom
Outgoings: unit 214 – rates $926/year including gst, body corp levy $2014/year; unit 415 – rates $936/year including gst, body corp levy $2071/year
Income assessment: each $300/week, current
Outcome: unit 214 – passed in at $160,000; unit 415 – passed in at $155,000; units 415 & 214 together – passed in after bid at $300,000, vendor bid at $400,000
Agent: Victor Liu

Isthmus east

Mt Wellington

Thompson Park Apartments, 8 Thompson Park Rd, unit 32:

Features: 98.26m² including 11.42m² of balconies, 2 bedrooms, 2 bathrooms, study, storage locker, 2 parking spaces
Outgoings: rates $1844/year including gst; body corp levy $3395/year
Income assessment: $650-700/week
Outcome: sold for $740,000
Agent: Steve King

Isthmus west

Eden Terrace

Uptown on New North Rd, 83 New North Rd, unit GB:
Features: 83m² ground-floor apartment on 113m², 2 bedrooms, patio, 2 parking spaces
Outcome: no bid
Agent: Andrew Bond

Pt Chevalier

125 Carrington Rd, Building 310, door 9:
Features: leasehold, 2 bedrooms, 2 bathrooms, one of 45 apartments containing 130 rooms under management in Unitec student accommodation village, remedial work for weathertightness issues not yet completed – body corporate approved for financial assistance under an MBIE (Ministry of Business, Innovation & Employment) claim
Outgoings: rates $1607/year including gst; body corp levy $6210/year – ground rent being reviewed to market after initial period of 10c/year peppercorn rent, negotiation range $3621-5965/year + gst; buyer to pay any levy to cover new ground rent
Income assessment: each room $245/week during 2 semesters in pooled scheme; owner also benefits from share of rental pool; gross rent for both units $13,423/year in April 2018 year, net $6726/year
Outcome: property offered on an ‘as is, where is’ basis, passed in at $2000
Agents: James Mairs & Andrew Bond

Attribution: Auction.

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2 apartments sell, 2 passed in at auction

2 apartments were sold & 2 passed in at Ray White City Apartments’ auction today. All had one bedroom, 2 with a balcony, and none had parking.

A large QVB unit at the corner of Queen & Victoria Sts sold at just under $10,000/m² and one in Whitaker Place went for $8400/m².

A Metropolis unit was passed in just short of $11,000/m² and $30,000 short of a reduced reserve, while a Forte unit was passed in at just over $11,000/m².

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Kitchener St

Metropolis, 1 Courthouse Lane, unit 1702:
Features: 52m², one bedroom
Outgoings: rates $1614/year including gst; body corp levy $6050/year
Income assessment: $645/week
Outcome: passed in at $570,000
Agents: James Mairs & Lucia Gao

Learning Quarter

Forte, 37 Symonds St, unit 803:
Features: 27m², furnished one bedroom, deck
Outgoings: rates $1130/year including gst; body corp levy $2526/year
Income assessment: $400-430/week furnished
Outcome: passed in at $300,500
Agents: May Ma & Mark Li

Longview, 6 Whitaker Place, unit 9D:
Features: 50m², fully furnished one bedroom, balcony
Outgoings: rates $1246/year including gst; body corp levy $4165/year
Income assessment: $490/week
Outcome: sold for $420,000
Agents: Mitch Agnew & Ryan Bridgman

Queen St

QVB Farmers, 6 Victoria St East, unit 5M:
Features: 50m², one bedroom
Outgoings: rates $1633/year including gst; body corp levy $5264/year
Outcome: sold for $495,000
Agents: Damian Piggin

Attribution: Auction.

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5 apartments sell at auction

All 5 apartments auctioned at Ray White City Apartments today were sold under the hammer – 2 in Zest (pictured) sold as one lot after being passed in separately.

One other unit, in the brand new Oasis at the top of Myers Park, was withdrawn from the auction but auctioneer Ted Ingram indicated it would be sold within 24 hours.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1005:
Features: 43m², one bedroom
Outgoings: rates $1517/year including gst; body corp levy $5007/year
Outcome: highest bid of $484,500 has gone on contract
Agents: Mitch Agnew & Ryan Bridgman

Learning Quarter

Silo, 23 Emily Place, unit 8M:
Features: 35m² + 8m² balcony, one bedroom, 2 decks, secure covered parking space on separate title
Outgoings: rates $1304/year including gst, parking $155/year; body corp levy $5085/year, parking $829/year
Outcome: sold for $485,000
Agents: Mitch Agnew & Ryan Bridgman

Uptown

Oasis, 26 Poynton Terrace, unit 2A:
Features: 110m², 2 bedrooms, bathroom & ensuite with underfloor heating, air-conditioning, 2 enclosed balconies, secure covered parking space
Outgoings: body corp levy $4347/year
Outcome: withdrawn from auction “but will be sold within 24 hours,” said auctioneer Ted Ingram
Agents: Damian Piggin & Krister Samuel

Victoria Quarter

Zest, 72 Nelson St, units 913 & 1017:
Features: both 20m², furnished one bedroom
Outgoings, unit 913: rates $1033/year including gst; body corp levy $1856/year excluding water; unit 1017: rates $1304/year including gst; body corp levy $1906/year excluding water
Income assessments, unit 913: $300/week, fixed until 7 November; unit 1017: $300/week, fixed until 23 February
Outcome: unit 913 passed in at $215,000, unit 1017 passed in at $225,000, both then sold together for $450,000
Agents: Judi & Michelle Yurak

North-east

Takapuna

Spencer on Byron, 9-17 Byron Avenue, unit 1708:
Features: 48m², one bedroom, hotel furniture package, covered parking space
Outgoings: rates $5844/year including gst; body corp levy $3429/year
Income assessment: $/week in hotel lease
Outcome: sold for $390,000 + gst
Agents: Damian Piggin, James Mairs & Gillian Gibson

Attribution: Auction.

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Updated: Yield under 4.5% in St Heliers post-auction sale; Metropolis old courthouse hospitality spaces were passed in

Published 29 June 2018, updated 30 July 2018:
Update: A small commercial property on Polygon Rd in St Heliers, passed in at Barfoot & Thompson’s auction on 28 June, has been sold for an extra $215,000, taking the yield below 4.5%.

2 commercial spaces in the old Magistrate’s Court section of the Metropolis apartments complex in central Auckland were passed in at the auction and a third space withdrawn.

All 3 of the courthouse premises were offered vacant. One (outlined in photo) was previously a bar, another a restaurant and the third, withdrawn from the auction after the other 2 failed to sell, was a commercial kitchen.

CBD

Kitchener St

The old Auckland Magistrate’s Court building on Kitchener St, former bar area outlined.

Metropolis, 40 Kitchener St, unit CC:
Features: vacant 159m² unit set up as a bar, seismic rating 67% new building standard
Outcome: passed in at $1.25 million
Agents: Andrew Clark & Reese Barragar

Metropolis, 40 Kitchener St, unit CD:
Features: vacant 151m² unit, previously used as a restaurant & conference room
Outcome: passed in at $750,000
Agents: Andrew Clark & Reese Barragar

Metropolis, 40 Kitchener St, unit CE:
Features: 62m² commercial kitchen unit, vacant possession
Outcome: withdrawn from auction
Agents: Andrew Clark & Reese Barragar

Isthmus east

St Heliers

13 Polygon Rd:
Features: 121m² site, net lettable area 165.5m², seismic rating 50% new building standard, property has an 18m height limit Domino’s Pizza 2 years into a 7-year lease, with 2 5-year rights of renewal, Bay Physiotherapy the upstairs tenant on 3-year lease, 2 2-year rights of renewal
Rent: $97,141/year net + gst
Outcome: passed in at $2.07 million, representing a 4.69% yield; sold to the neighbour post-auction for $2.285 million, at a 4.25% yield; sold to the neighbour post-auction for $2.285 million, at a 4.25% yield
Agents: Rex Fowler & Daniel Braid

Attribution: Auction.

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Private gallery sells at 5.4% yield

A private gallery across the street from the Auckland Art Gallery has been sold at a 5.4% yield by Colliers agents.

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Kitchener St

28-36 Wellesley St East, units B & C:
Features: 140m² ground-floor corner unit on the Khartoum Place-Kitchener St corner of the St James Apartments building, opposite the Auckland Art Gallery, occupied by Romer Gallery on 4-year triple net lease from November 2017, market reviews every 2 years
Rent: $68,000/year net + gst
Outcome: sold for $1.25 million at a 5.44% yield
Agents: Ned Gow, Adam White & David Burley

Attribution: Agency release.

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Kohi unit & St Heliers house sell, but 15 other homes passed in

The first property up for sale at Barfoot & Thompson’s apartments & houses auction this morning – a large cross-leased unit just off Tamaki Drive in Kohimarama – was sold under the hammer, and the third offering of the day, a house in St Heliers, was also sold.

The other 15, including 5 other apartments, a terrace & a suburban unit with sleepout, were all passed in.

Barfoot’s moved to a dedicated apartments & commercial auction on Thursday mornings at its city office a couple of years ago, but struggled to get a large selection – when the agency’s city residential property business could run through 80 auctions in a day, 2 sessions in 2 auctionrooms.

The agency’s commercial branch has rarely offered more than 2 properties at these auctions, while apartment numbers have also dwindled.

So today’s offering was a novelty – 9 houses and a larger selection of intensive housing than usual – but with an outcome that’s become commonplace since the residential markets started to turn downward around 18 months ago.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 2114:
Features: 51m², 2-bedroom apartment
Income assessment: $675/week current until October
Outcome: passed in
Agents: Aaron Cook & Holly Huang

Learning Quarter

The Quadrant, 10 Waterloo Quadrant, unit 1606:
Features: fully furnished 2-bedroom apartment, parking space
Outcome: no bid
Agent: Oleg Lykov

Isthmus east

Kohimarama

28 Speight Rd, unit 3:
Features: cross-leased, 3-bedroom unit, deck, internal-access garag
Outcome: sold for $1.08 million
Agent: Lynette Boyd

Mt Wellington

Mountain View, 68 Mountain Rd, unit 52:
Features: 2-bedroom apartment, balcony, 2 covered parking spaces
Outcome: no bid, back on market at $570,000
Agents: Nathan Canton & Bev Bellas

Newmarket

373 Khyber Pass Rd, unit 17:
Features: studio
Outcome: passed in, back on market at $355,000
Agent: Cici Wang

Isthmus west

Eden Terrace

10 Ruru St, unit 31:
Features: 107m², 3-level one-bedroom terrace, balcony, double internal-access garage, reclad and new code compliance certificate issued 2010
Outcome: passed in
Agents: Eugene Yamamoto & Joanne Simpson

Mt Eden

30A Enfield St, unit 102:
Features: 3-bedroom apartment, 2 bathrooms, deck, garage
Outcome: passed in, back on market at $1.115 million
Agent: Jill Jackson

South

Mangere East

239 Robertson Rd, unit 1:
Features: 326m² section, 70m² 2-bedroom unit + 20m² sleepout with own bathroom, carport
Income assessment: $560/week current
Outcome: passed in
Agents: Neno Radinovich & Brett Innes

Attribution: Agency release.

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Metropolis & Summit apartments passed in

2 apartments up for auction at Barfoot & Thompson’s city office yesterday were passed in and the third on the list was withdrawn.

CBD

Kitchener St

Metropolis, 1 Courthouse Lane, unit 1512:
Features: 64m², 2 bedrooms
Outcome: passed in
Agents: Aaron Cook & Holly Huang

Learning Quarter

Focus on Anzac, 99 Anzac Avenue, unit 4D:
Features: 55m², 2 bedrooms
Outcome: withdrawn from auction, back on market at $509,000
Agents: Stephen & Leo Shin

Uptown

Summit on Symonds, 103 Symonds St, unit 602:
Features: top floor, 2 bedrooms, 2 bathrooms, parking space
Outcome: passed in, back on market at $985,000
Agent: Wayne Guo

Attribution: Agency documents.

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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.

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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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