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6 industrial & retail properties sell

on Tuesday 27 November 2018 in Agency, Bayleys, Ellerslie, Isthmus east, Mangere, Market, Neighbourhoods, Onehunga, Otara, Sectors, South

An Ellerslie fruit & vege store has been sold a month post-auction. Bayleys agents have also sold 4 property in industrial zones in Mangere, Onehunga & Otara, and a vacant shop in Favona.

Isthmus east

Ellerslie

101 Main Highway:
Features: 272m² retail unit in town centre; fruit & vege store, 5-year lease, 2 5-year rights of renewal
Rent: $60,000/year net + gst
Outcome: passed in at auction on 24 October, sold for $820,000 at a 7.32% yield
Agents: Oscar Kuang & Beterly Pan

Onehunga

15 Edinburgh St:
Features: 557m² site zoned heavy industry, 361m² 1970s warehouse
Outcome: sold vacant for $1.02 million
Agents: James Hill, James Valintine & Sunil Bhana

315 Neilson St & 21-23 Edinburgh St:
Features: 1825m² corner site in 3 titles, zoned heavy industry, 1256m² warehouse & office building
Outcome: sold vacant for $2.55 million
Agents: James Valintine, James Hill & Sunil Bhana

South

Favona

1 Savill Drive, unit 5:
Features: 120m² unit in retail complex on corner of Massey Rd, surrounding tenancies include Burger King, doctor, takeaway, liquor store & superette, communal parking
Outcome: sold vacant for $680,000
Agents: Andrew Lin, Amy Weng, Geoff Wyatt, Janak Darji & Tony Chaudhary

Mangere

10 Rennie Drive:
Features: 1656m² site zoned light industry, 1040m² industrial building – 745m² clearspan, medium stud warehousing, 295m² office & amenities
Outcome: sold with vacant possession for $2.475 million
Agents: Nick Bayley, James Valintine & William Gubb

Otara

100 Alexander Crescent, unit 1:
Features: 320m² roadfront commercial unit in light industry zone, 180m² of offices over 2 levels & 140m² warehouse, which currently has a lowered suspended ceiling for commercial use, 7 parking spaces
Outcome: sold vacant to an owner-occupier for $670,700
Agents: Mike Marinkovich & Amy Weng

Attribution: Agency release.

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Updated: Mt Eden shops passed in (now sold), 2 apartments sold

on Monday 5 November 2018 in Agency, Apartments, Barfoot and Thompson Commercial, CBD, CBD and fringe, Eastern bays, Ellerslie, Isthmus east, Isthmus west, Learning Quarter, Market, Mt Eden, Neighbourhoods, Sectors, Uptown, Victoria St

Published 11 October 2018, updated 5 November 2018:
A commercial site in Mt Eden with 3 shops & 2 flats on it (outlined in photo) was passed in at Barfoot & Thompson’s auction on 11 October and sold shortly after, which I missed updating at the time.

Of the 6 apartments, townhouses & suburban units the agency had up for auction on Wednesday afternoon, one was sold under the hammer and another post-auction. 2 in the new Conrad Properties Ltd Victoria Residences development across the street from SkyCity remain on the market.

Commercial

Isthmus west

Mt Eden

Updated: 547-551 Mt Eden Rd:
Features: 501m² site, total floor area 273m² – 3 shops & 2 flats (one derelict), zoned business – mixed use, erected about 1912, seismic rating 19% new building standard
Rates: $13,481/year including gst
Rent: partially leased with demolition clause – rent $30,600/year from one shop + flat
Outcome: no bid; sold unconditionally post-auction for $1.35 million + gst
Agent: Marie-Anne Molloy

Apartments

CBD

Learning Quarter

Eden Apartments, 32 Eden Crescent, unit 8B:
Features: one-bedroom apartment
Income assessment: $430/week current
Outcome: no bid, sold post-auction
Agents: Selina Zheng & Tommy Zhang

Uptown

Winsun Heights, 113 Vincent St, unit 7B:
Features: studio
Outgoings: rates $933/year including gst; body corp levy $2406/year
Outcome: passed in
Agents: Stephen Shin & Lauren Lee

Victoria St

Victoria Residences, 75 Victoria St, unit 301:
Features: 50m² + 5m² balcony, fully furnished 2-bedroom apartment, tower completed in June
Income assessment: $750/week current guaranteed income
Outcome: no bid
Agents: Will Liu & Nicole Zhang

Victoria Residences, 75 Victoria St, unit 1801:
Features: 50m² + 5m² balcony, 2-bedroom apartment, balcony, tower completed in June
Outcome: auctioned postponed, on market at $745,000
Agents: Alastair Brown & Hayley Sok

Isthmus east

Ellerslie

39 Peek St, unit 1:
Features: 3-bedroom unit, single garage (currently used as a studio)
Outcome: passed in, back on market at $845,000
Agents: Alex Baker & Cindy Jiang

Kohimarama

53A Rawhitiroa Rd:
Features: 4-bedroom townhouse, 2 living areas, 3 bathrooms, double internal-access garage, courtyard & garden
Outcome: sold for $2.5 million
Agents: Veronica Schoonraad & Cheryl Woodward

Attribution: Auction documents.

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Updated: 5 (now 6) of 14 sell at Bayleys’ Auckland commercial auction, 3 of 3 in Tauranga

on Monday 29 October 2018 in Agency, Bay of Plenty, Bayleys, Blockhouse Bay, CBD, Chancery, Clendon, Coromandel, Eden Terrace, Ellerslie, Hauraki Gulf, Henderson, Isthmus east, Isthmus west, Market, Neighbourhoods, North-east, North-west, Onehunga, Orewa, Parnell, Pt Chevalier, Queen St, Rosedale, Sectors, South, South of Bombays, Wairau Valley

Published 25 October 2018, updated 29 October & 27 November 2018:
5 of the 14 properties were sold at Bayleys’ Total Property commercial auction on Wednesday and 5 attracted no bid.

At the agency’s Tauranga auction, all 3 properties were sold under the hammer.

Update: One property has been sold post-auction – a takeaway outlet in the Wairau Junction retail centre. The outcomes for 2 of the Auckland properties were transposed – for Ellerslie & Blockhouse Bay – and have been corrected below.

CBD

Chancery

Chancery Square, 44 Courthouse Lane, unit A206:
Features: 45m² unit leased to property management company
Rent: $33,500/year net + gst + outgoings
Outcome: sold for $380,000 at an 8.82% yield
Agents: Mike Adams & Jean-Paul Smit

Queen St

Mid-City, 239 Queen St, unit 1Y:
Features: m²,
Rent: $27,360/year net + gst, occupied by hair salon, lease term runs to April 2021 with further rights of renewal
Outcome: withdrawn from auction
Agent: Oscar Kuang

Hauraki Gulf islands

Waiheke Island

Onetangi

The Sands, 141 The Strand, unit 1:
Features: 104m² manager’s unit in the Sands apartment complex
Rent: $28,723/year net + gst + outgoings
Outcome: no bid
Agents: Brian Caldwell & Mana Tahapehi

Isthmus east

Ellerslie

Updated: 101 Main Highway, unit 12:
Features: 272m² Asian supermarket at Ellerslie shopping centre, 10 parking spaces
Rent: $60,000/year net + gst, 5-year lease in place with 2 5-year rights of renewal
Outcome: passed in at $800,000 (2 results transposed – originally posted as $2.7 million), sold in November for $820,000 at a 7.32% yield
Agents: Oscar Kuang, Beterly Pan & Nicolas Ching

Onehunga

222 Onehunga Mall:
Features: 273m² site, 2-storey building, seismic rating 75% new building standard, local town centre zoning has 27m height control
Rent: commercial & residential tenants
Outcome: withdrawn from auction
Agent: Oscar Kuang

Parnell

29B Bath St:
Features: 175m² site, 139m² commercial unit, parking space
Rent: $42,000/year net + gst current contract, 2 2-year rights of renewal
Outcome: no bid
Agent: Millie Liang

Isthmus west

Blockhouse Bay

Updated: 35 Margate Rd, flats 1-6:
Features: 2497m² site, 6 2-bedroom residential units, each of about 55m² & on separate titles, parking space each, offered in one package
Rent: $200,000/year net + gst from 2-year lease
Outcome: passed in at $2.7 million (2 results transposed – originally posted as $800,000)
Agents: Quinn Ngo, Matt Lee & James Chan

Eden Terrace

1 Exmouth St:
Features: 665m² vacant section on Newton Rd corner, leased to Wilson Parking, mixed use zoning
Rent: $21,495/year net + gst, early termination clause
Outcome: withdrawn from auction
Agents: Owen Ding, James Chan & Jarrod Qin

Pt Chevalier

1110 Great North Rd, unit D:
Features: 345m², town centre fruit & vegetable shop + parking, leased to PTC Fresh NZ for 5 years from December 2016 with 2 5-year rights of renewal
Rent: $108,312/year net + gst
Outcome: sold for $1.55 million at a 6.99% yield
Agents: Nicolas Ching, Quinn Ngo & James Chan

350 Pt Chevalier Rd:
Features: 696m² site zoned business – neighbourhood centre, housed greengrocery for over 50 years
Outcome: sold with vacant possession for $1.87 million at a land value of $2686/m²
Agents: John Procter, Alan Elliott & Cameron Melhuish

North-east

Orewa

Tamariki Plaza, 1-19 Cammish Lane, unit J:
Features: vacant 190m² commercial unit, one parking space + share of 35 parking spaces
Outcome: passed in at $700,000
Agents: Mustan Bagasra

Rosedale

101 Apollo Drive, unit D:
Features: vacant 120m² ground-floor office unit, 4 parking spaces
Outcome: auction postponed
Agents: Tonia Robertson & Jane McKee

Rosedale Retail Centre, 94 Rosedale Rd, unit 2:
Features: 73m² shop at entrance to zero-vacancy retail centre
Rent: $37,520/year net + gst + outgoings
Outcome: sold prior
Agents: Eddie Zhong, Steven Liu & Meng He

Wairau Valley

18 Ashfield Rd, unit D:
Features: industrial unit, 110m² ground floor, 30m² storage above, monthly tenancy
Outcome: sold for $440,000
Agents: Trevor Duffin & James Yu

65-71 Porana Rd, unit E:
Features: 133m² unit occupied by Hollywood bakery
Rent: $55,000/year net + gst + opex, new 6-year lease
Outcome: auction postponed
Agents: Adam Curtis, Damian Stephen & Steven Liu

Updated: Wairau Junction, 162-178 Wairau Rd, unit 7:
Features: 45m² kebab outlet
Rent: $30,600/year net + gst + outgoings
Outcome: passed in at $500,000, sold post-auction for $550,000 at a 5.56% yield
Agents: Andrew Lin & Ranjan Unka

North-west

Henderson

192 Universal Drive, unit A1:
Features: 756m², corner store in Lincoln North Shopping Centre, 7-year lease to Super Cheap Auto NZ from July 2016, annual fixed 3% rental increases & one 5-year right of renewal
Rent: $225,221/year net + gst, 3% annual increases
Outcome: sold for $3.93 million at a 5.73% yield
Agents: Matt Lee, James Chan, Quinn Ngo, Terry Kim & David Han

South

Clendon Park

439 Roscommon Rd, unit 2:
Features: 97m² retail unit, tenant Clendon Foodmarket
Rent: $41,600/year net + gst, 6-year lease from 2015
Outcome: no bid
Agents: Matt Lee, Quinn Ngo & Piyush Kumar

439 Roscommon Rd, unit 3:
Features: 97m² retail unit, tenant Crown Liquor
Rent: $43,201/year net + gst, 4-year lease from 2016, rights of renewal
Outcome: no bid
Agents: Matt Lee, Quinn Ngo & Piyush Kumar

South of the Bombays

Bay of Plenty

Bethlehem

272A State Highway 2:
Features: 809m² site, 305m² 2-level commercial building, anchor ground-floor pharmacy tenancy, smaller dental tenancy above on leases renewed until 2021 plus further renewals
Rent: $62,730/year net + gst
Outcome: sold for $1.26 million at a 4.98% yield
Agent: Myles Addington

Judea

66 Koromiko St:
Features: 2536m² industrial site, 1519m² standalone building comprising 1123m² of warehouse & workshop space, 4 large roller doors; the balance 2 levels of offices, showroom, storage & amenities; tenant Paramount Stainless has recently renewed for the next 3 years with one final right of renewal to 2024
Rent: $122,000/year net + gst
Outcome: sold for $1.8 million at a 6.78% yield
Agent: Graeme Coleman

Tauranga:

199, 207 & 213 Cameron Rd:
Features: 2192m² redevelopment site zoned city centre, allowing 19m² building height, next to central fire station on main arterial, car dealers have operated from site since the early 1970s, 2 tenancies expiring in August 2020
Rent: $190,715/year net + gst
Outcome: sold for $6.25 million + gst at a 3.05% yield, land value $2851/m²
Agents: Lloyd Davidson & Laura Taylor

Coromandel

Thames

517 Pollen St:
Features: 1521m² site, 1410m² building occupied by multiple tenants including NZ Post Ltd on long-term lease, 16 parking spaces
Rent: $107,717.53/year net + gst, multiple tenants
Outcome: no bid
Agents: Millie Liang & Josh Smith

Attribution: Agency release.

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Edge-of-town block & 3 suburban units among auction sales

on Wednesday 1 August 2018 in Agency, Apartments, Avondale, Bayleys, CBD and fringe, Ellerslie, Hobsonville, Howick, Isthmus east, Isthmus west, Market, Mt Eden, Neighbourhoods, North, North-west, One Tree Hill, Pt Chevalier, Sectors, South, Wellsford

A block of land on the edge of Wellsford (pictured) was among properties sold at Bayleys auctions around the Auckland region last week.

The list of 8 properties below includes another 5 sales – a vacant shop in Avondale, 3 suburban units & a new house at Hobsonville Point.

Land & commercial

Isthmus west

Avondale

2020 Great North Rd:
Features: 83m² site, 77m² takeaway shop
Outcome: passed in, sold post-auction with vacant possession for $470,000
Agents: Shane Snijder & James Were

North-east

Wellsford

Monowai St:
Features: 14.5ha grazing property in 3 titles – 8500m² residential, 5500m² future urban (in the 2023-27 period), 13ha of countryside living, inside the town boundary & facing north, connected to town water supply
Outcome: sold for $1.13 million
Agent: John Barnett

Residential

Isthmus east

Ellerslie

4 Ramsgate St, unit 5:
Features: refurbished 2-bedroom unit, internal-access garage
Outcome: sold for $845,000
Agents: John Procter & Alan Elliott

One Tree Hill

72 Paihia Rd, unit 4:
Features: 2-bedroom unit, carport
Outcome: sold prior for $683,000
Agents: Masoud Solati & David Storer

Isthmus west

Mt Eden

433 Dominion Rd, unit 505:
Features: one-bedroom top-floor apartment, secure basement parking space
Outcome: withdrawn from auction
Agents: Trent & Julie Quinton & Jon Fisher

Pt Chevalier

26 Carrington Rd, unit 5:
Features: cross-lease, 2 bedrooms, carport
Outcome: passed in, back on market at $750,000
Agent: Gay Kelly

North-west

Hobsonville Point

6 Hastings St:
Features: corner 4-bedroom house in the Sunderland precinct, 2 living rooms, 2 bathrooms, double internal-access garage
Outcome: sold for $1.58 million
Agent: Joan Barton

South

Howick

46 Moore St, unit 3:
Features: 90m², 2-bedroom unit, garage
Outcome: sold for $615,000
Agent: Hamish McKay

Attribution: Agency release.

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Oyster settles Central Park buy, Goodman also completes Glassworks sales

on Sunday 1 July 2018 in Canterbury, Ellerslie, Goodman Property Trust, Isthmus east, Neighbourhoods, Sectors, Securities – NZ, South Island, Syndication

A joint venture led by property fund manager Oyster Property Group Ltd settled its $209 million purchase of the Central Park Corporate Centre at Ellerslie from the Goodman Property Trust on Friday.

Central Park fronts Great South Rd beside the Southern Motorway at the Ellerslie-Panmure roundabout in Auckland.

Earlier in the week, Goodman settled sales of a development for Steel & Tube Holdings Ltd & development land at the Glassworks Industry Park in Christchurch.

Earlier stories:
1 June 2018: Oyster goes unconditional on Central Park purchase
29 May 2018: Goodman upbeat as it forges ahead with repositioning
17 November 2017: One condition left on Central Park sale, and Air NZ extends at Fanshawe St
10 November 2017: Big property sale follows first-half profit setback for Goodman
2 October 2016: Goodman signs Highbrook & Glassworks developments

Attribution: Goodman release.

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Quiet times at 3 auction sessions – but one sale close to $15,000/m²

on Thursday 3 May 2018 in Albert St, Apartments, CBD, CBD and fringe, Ellerslie, Federal St, Herne Bay, Isthmus east, Isthmus west, Market, Mt Albert, Mt Eden, Neighbourhoods, Parnell, Remuera, Sandringham, Sectors, Stonefields, Uptown, Victoria Quarter, Waterfront

The generally quiet time in residential auctionrooms was emphasised in 3 sessions at Barfoot & Thompson’s city office on Wednesday & Thursday.

Those performances answer the question I’m asked most these days:

The everything question: What’s happening in the market? At auctions, bidders have become a rare species, which puts pressure on vendors. Even where there are bidders, there’s a common reluctance to offer anything near yesterday’s reserve.

Chinese buyers (local or visiting) have been notable for their absence for over a year, courtesy of restrictions in China and now here.

On Wednesday I watched a mate bid on the last property listed for the day. He & his wife were the only potential customers left in the room. After some nudging, they lifted their offer a little, but not enough to excite the auctioneer and nowhere near the vendor’s expectation.

A small unit well up the new Conrad tower on the corner of Albert & Swanson Sts, Park Residences, achieved a sale price close to $15,000/m² ($14,885), which is in the realm of pricing for new product in the central city.

The pricing of new product over the last 3 years or so had also lifted values for secondary stock, but I see secondary prices dropping back under $10,000/m² unless the apartment is distinctive, and below $8000/m² for older units.

On Thursday, the auction of the one property scheduled for Barfoot’s apartments & commercial morning session, a unit on Princes Wharf, was deferred a fortnight.

In the afternoon session, an Onehunga house was sold and the other 9 homes listed were passed in, 6 of them without a bid placed. The afternoon offering included a Remuera cross-lease, a Stonefields terrace and an Ascent penthouse on Nelson St (details of them below).

Wednesday afternoon was a more productive session for the auctioneer – 5 sales under the hammer, another sold shortly after and one sold prior out of 20 homes listed. From that session, you can check details below of 10 apartments, suburban units & cross-leases.

The properties are listed below geographically, not according to auction session.

Barfoot’s also issued its residential market calculations for April today. You can click through to that at the foot of this item.

The auctions:

CBD

Albert St

Park Residences, 35 Albert St, unit 1602:
Features: 35m², studio + study, 5m² balcony, in new Conrad development opened last month
Outgoings: body corp levy $2346/year
Outcome: sold for $521,000
Agents: Tom Jiang & Tim Lee

Federal St

The Federal, 18 Federal St, unit 2B:
Features: 51m², one-bedroom apartment, balcony
Outgoings: body corp levy $3274/year
Outcome: passed in at $418,000
Agents: John Zhang & Richard Tan

Uptown

Pembridge, 38 Symonds St, unit 16:
Features: one-bedroom apartment, parking space
Outgoings: body corp levy $3378/year
Outcome: passed in at $375,000
Agents: Jo Pickering

Victoria Quarter

Ascent, 149 Nelson St, unit 803:
Features: 2-storey penthouse, one bedroom, 2 balconies, parking space
Outgoings: body corp levy $3766/year; the unit’s $9647 defects levy last year hasn’t been paid in full; the buyer will not have to pay, and won’t benefit from any proceeds from, a $4000 litigation levy this year; a $41,300 levy has been forecast for this unit for stage 2 remediation works; a High Court claim has been lodged regarding construction defects but the vendor of this unit is not a party
Outcome: no bid
Agent: Stephen Chang

Waterfront

Princes Wharf, Shed 22, unit 1:
Features: leasehold, 63m², one bedroom on western side, balcony, parking space
Outgoings: ground rent increase capped at 3%/year or CPI, whichever is greater
Outcome: auction postponed to Thursday 17 May
Agents: Stephen Shin & David Lee

Isthmus east

Ellerslie

90F Ballarat St:
Features: cross-lease, 1/6 share in 2241m², 3-bedroom house, double internal-access garage
Outcome: passed in at $850,000
Agents: George Fong & Laura McAuley

Parnell

25 Cheshire St, unit B5:
Features: one-bedroom apartment, deck, parking space
Outcome: sold prior
Agents: Matt O’Brien & Cristina Casares

Remuera

123C Ngapuhi Rd:
Features: cross-lease, quarter share in 910m², 2-bedroom unit, courtyard, carport
Outcome: passed in at $780,000
Agent: Susan Palmer

Stonefields

136 Stonefields Avenue:
Features: 1/14 share in 964m² + 200m² fee simple, 2-storey 4-bedroom terrace, 2 bathrooms, double garage
Outcome: no bid
Agents: Wendy Sadd & Helen Lam

Isthmus west

Herne Bay

29 Hamilton Rd, unit 5:
Features: cross-lease, 1/8 share in 2086m², 2-bedroom unit, balcony, parking space
Outcome: sold for $1.3 million
Agents: Felicity Scott

Mt Albert

65 Woodward Rd, unit 1:
Features: 2-bedroom townhouse, courtyard, parking space
Outcome: withdrawn from auction
Agents: Jacqui Freeman & James Ju

Mt Eden

1A Taupata St, unit 4:
Features: cross-lease, quarter share in 1472m², 2-bedroom 1980s townhouse, courtyard, carport
Outcome: no bid, back on market at $1.195 million
Agents: Ketiesha Elliott & Frank Excell

Sandringham

30 Arabi St, unit 2:
Features: cross-lease, quarter share in 1936m², 2 bedrooms
Outcome: sold for $668,000
Agents: Bella Stefano & Sherry Shao

45 Fowlds Avenue, unit 3:
Features: 2-bedroom unit, garage
Outgoings: on strata title but no body corporate levy
Outcome: sold for $831,000
Agent: Dee Brennan

Related story today: Barfoots chief sees housing market lift approaching

Attribution: Auctions.

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Office sales in Ellerslie & 4 down country

on Wednesday 7 February 2018 in Agency, Colliers International, Ellerslie, Isthmus east, Manawatu, Market, Neighbourhoods, Sectors, South of Bombays, Waikato, Wellington

Colliers agents have sold a Great South Rd office property in Ellerslie, and 4 other commercial properties down the North Island.

Isthmus east

Ellerslie

323 Great South Rd:
Features: 4129m² site, 3363m² office, ground floor fully leased to Fletcher Building Ltd, basement parking for 97 cars, substantially refurbished
Rent: $512,540/year net passing income when it was taken to market last October
Outcome: sold to a private investor for $10.5 million + gst
Agents: Simon Child, Gareth Fraser & Michael Van der Putten

South of the Bombays

Manawatu

Palmerston North

50-60 Grey St:
Features: 1427m² site, 647m² office
Outcome: sold to NBSM Property Ltd (Cheang Choon Ki) for $1.65 million
Agents: Doug Russell, Phil Nevill & Grant Lloyd

Waikato

Hamilton

193 London St:
Features: 3323m² site, 3600m² office
Outcome: sold to Stark Property Ltd for $5.35 million
Agents: Alan Pracy & Mark Brunton

Te Awamutu

5-7 George St:
Features: 3857m² site, 3354m² office
Outcome: sold to a private investor for $4.65 million
Agents: David Palmer, Alan Pracy & Mark Brunton

Wellington

Ngaio

33 Kaiwharawhara Rd, units 4A & 4B:
Features: 2 commercial units totalling 425m²
Outcome: sold for $940,000
Agent: Ben Taylor

Attribution: Agency release.

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14 of 36 intensive homes sell through auction

on Friday 1 December 2017 in Apartments, Avondale, Blockhouse Bay, CBD, CBD and fringe, Eden Terrace, Ellerslie, Grey Lynn, Isthmus east, Isthmus west, Learning Quarter, Mangere, Market, Mt Albert, Mt Eden, Mt Wellington, Neighbourhoods, New Lynn, Newmarket, North-west, One Tree Hill, Parnell, Remuera, Royal Oak, Sectors, South, St Heliers, Uptown, Victoria Quarter

14 intensive homes sold in the auctionroom or shortly after, out of 36 offered at Barfoot & Thompson’s city office in 6 sessions from Tuesday-Thursday this week.

They were a mix of cbd & suburban apartments, suburban units & townhouses, and some cross-leases (I ignore standalone homes not on cross-lease sections, and also didn’t manage to check for cross-leases at every auction session).

Many were passed in without a bid offered, and were back on the market soon after with a price stipulated.

Image above: The Ivory, Conrad Properties’ new apartment development just off the new university campus on the former Lion Nathan brewery site on Khyber Pass Rd, and back from Newmarket Broadway – the new style of suburban intensive living.

CBD

Learning Quarter

Seaview, 4 Short St, unit 7A:
Features: 143m², 3 bedrooms, 2 bathrooms, deck, parking space; vendor to pay roof repair levy in full
Outgoings: body corp levy $8542/year
Outcome: passed in at $700,000, back on market at $968,000
Agents: Annie Xu & Sean Zhang

Sapphire Apartments, 76 Wakefield St, unit 307:
Features: 33m², one bedroom apartment
Outgoings: rates $1110/year including gst; body corp levy $2270/year after 10% discount
Income assessment: $380/week
Outcome: sold for $338,000
Agents: Annie Xu & Sean Zhang

Sapphire Apartments, 76 Wakefield St, unit 610:
Features: 60m², 2-bedroom apartment
Outgoings: rates $1435/year including gst; body corp levy $4340/year
Outcome: passed in at $485,000
Agents: Stephen Shin & Zoran Farac

Uptown

Q Central, 58 Liverpool St, unit 6D:
Features: leasehold, 2-bedroom penthouse loft
Outgoings: rates $1436/year including gst; body corp opex levy $3727/year, ground rent $8049/year
Income assessment: $600-640/week
Outcome: sold for $127,000
Agents: Stephen & Leo Shin

Victoria Quarter

Heritage Tower, 22 Nelson St, unit 1119:
Features: air-conditioned one bedroom, covered parking space, out of hotel pool, remedial work on building is underway
Outgoings: rates $/year including gst; body corp levy $/year
Income assessment: $/week
Outcome: no bid, back on market at $435,000
Agents: Alexander Kramarenko & Luke Shi

Zest, 72 Nelson St, unit 512:
Features: 2-bedroom apartment
Outcome: withdrawn from auction
Agent: James Yu

Isthmus east

Ellerslie

43 Celtic Crescent, unit 4:
Features: 2-bedroom unit, carport
Outcome: sold post-auction
Agent: Michelle Mi

Epsom

8 Bowling Avenue, unit 2:
Features: 72m², 2-bedroom unit, garage
Outcome: sold for $836,000
Agents: Mike Pedersen

87 Buckley Rd:
Features: cross-lease, half share in 1012m², 3-bedroom house, double garage
Outcome: sold post-auction
Agents: Paul Hodgman

Ivory, 10 Lion Place, unit 403:
Features: 65m² including balcony, 2-bedroom apartment, 2 bathrooms
Outcome: sold for $745,000
Agent: Cici Wang

44 St Andrews Rd, unit 8:
Features: studio
Outcome: sold for $388,000
Agent: Leonie Stabler

Meadowbank

128A St Johns Rd, unit 2:
Features: 2-bedroom unit, conservatory, double carport
Outcome: sold for $820,000
Agents: Kathy Bower & Julie Fitzpatrick

Mt Wellington

27 Stanhope Rd:
Features: cross-lease, half share in 809m², 3 bedrooms, garage
Outcome: sold for $927,000
Agent: Melody Lowe

Newmarket

Queen’s Lodge, 176 Broadway, unit B409:
Features: 2-bedroom apartment, 2 bathrooms, parking space
Outcome: passed in
Agents: Amy Ho & Jonas Ho

One Tree Hill

2 Ewenson Avenue, unit 4:
Features: cross-lease, 1/7 share in 1510m², 2 bedrooms, balcony, carport
Outcome: passed in at $500,000, back on market at $605,000
Agent: Robin Liu

41 Tawhiri Rd, unit 4:
Features: 2-bedroom unit, parking space
Outcome: sold for $755,000
Agent: Wendy Sadd

Parnell

Freemont Towers, 11 Freemont St, unit 13:
Features: 1960s apartment block, 50m², one bedroom, offstreet parking
Outcome: sold for $660,000
Agent: Ian Griffiths

Mayfair, 75 Parnell Rd, unit 12A:
Features: 62m², one-bedroom apartment
Outgoings: body corp levy $5901/year
Outcome: no bid
Agent: Melody Lowe

21 York St:
Features: m², 3-bedroom terrace, study, balcony, conservatory, offstreet parking
Outcome: no bid, back on market at $1.85 million
Agent: Bobby McMillan

Remuera

82D Clonbern Rd:
Features: cross-lease, 5/56 share in 4799m², 2-level townhouse, 3 bedrooms, study, double carport
Outcome: passed in at $1.1 million
Agents: Min Kim

731D Remuera Rd:
Features: 3-bedroom townhouse, 2 bathrooms, study, double internal-access garage
Outcome: no bid, back on market at $880,000
Agent: Alex Baker

Royal Oak

49 Turama Rd, unit 4:
Features: 2-bedroom 1970s brick & tile unit, internal-access garage
Outcome: passed in
Agents: James Yu & Danny Upton

St Heliers

10 Maxine Place, unit 3:
Features: 3-bedroom unit, 2 bathrooms, garage
Outcome: passed in
Agent: Bob Gordon

7 Walmsley Rd, unit 2:
Features: 130m² townhouse, 3 bedrooms, garage
Outcome: no bid, back on market at $1.289 million
Agents: Kelly Midwood & Hamish Hargrave

Isthmus west

Avondale

16 Highbury Avenue, unit 5:
Features: 2-bedroom 1960s unit
Outcome: passed in, back n market at $585,000
Agents: Anna Lechtchinski & Alex Wu

Blockhouse Bay

143 Donovan St:
Features: cross-lease, half share in 1020m², 3-bedroom house, carport
Outcome: no bid, back on market at $939,000
Agent: Kris Jamieson

Eden Terrace

Viscount, 33D(R) New North Rd:
Features: 110m², 2-level, 2-bedroom terraced apartment
Outcome: withdrawn from auction
Agent: Sue Saywell

Grey Lynn

497 Great North Rd:
Features: 3-level 4-bedroom terrace, 2 bathrooms
Outcome: sold post-auction
Agents: Cristina Casares

Mt Albert

22 5th Avenue, unit 4:
Features: cross-lease, quarter share in 1147m², 2-bedroom unit, carport
Outcome: sold for $715,000
Agents: Wendy Sadd & Michele Ballinger

65 Woodward Rd, unit 5:
Features: 2 bedrooms, carport
Outcome: sold for $718,000
Agents: Christine Wooding & Joanne Yu

Mt Eden

277 Mt Eden Rd, unit 3:
Features: cross-lease, 1/10 share in 1120m², 66m² 2-bedroom unit, garage
Outgoings: body corp levy $5000/year
Income assessment: $480/week, fixed until 30 December
Outcome: no bid, back on market at $695,000
Agents: Annie Xu & Sean Zhang

573C Mt Eden Rd:
Features: 243m² section, 209m², 4 bedrooms, 3 bathrooms, double garage
Outcome: no bid
Agents: Ricky Fan & Joyce Gu

584 Mt Eden Rd:
Features: 575m² section, 348m², 2-level townhouse, 5 bedrooms, 3 bathrooms, double internal-access garage
Outcome: passed in at $2.9 million
Agent: Helen Lam

Waterview

1594 Great North Rd, unit 2:
Features: cross-lease, quarter share in 1196m², 3-bedroom unit, garage
Outcome: no bid
Agent: Elvira Abdrazakova

North-west

New Lynn

6 Islington Avenue, unit 2:
Features: 184m², 4-bedroom duplex townhouse, 3 bathrooms, tandem internal-access garage (one space turned into a gym)
Outcome: no bid
Agents: Aken Yuan & Michelle Zhou

South

Mangere Bridge

16D Coronation Rd:
Features: 3-bedroom 1970s brick & tile unit, garage
Outcome: no bid
Agents: Danny Upton & James Yu

Attribution: Auctions.

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Auckland Plan refresh approved for consultation, 2 private plan changes to be notified

on Wednesday 29 November 2017 in Ellerslie, Isthmus east, Land use, Manurewa, Neighbourhoods, Otahuhu, Papakura growth, Planning, Sectors, South, Spatial plan, Takanini

Auckland Council’s planning committee approved the revised draft Auckland Plan for formal public consultation yesterday.

A joint consultation on this plan and on the council’s 10-year budget, 2018-28, will open on 28 February and run until 28 March. The council’s governing body will approve the consultation document on 7 February.

The Auckland Plan, first adopted in 2012 and now reviewed for the second time, is the spatial plan that sets the direction for how, where & when Auckland will grow over the next 30 years.

Other planning committee business

Manurewa Takanini Papakura integrated area plan:

The committee endorsed the Manurewa Takanini Papakura Integrated Area Plan, which provides a planning framework to guide how the area develops over the next 30 years.

2 private plan change requests under new unitary plan

Otahuhu, King’s College, Mangere & Hospital Rds:

The committee agreed to publicly notify King’s College’s private plan change request to rezone 2 land parcels, one to the north-east of the main campus and the other to the south.

The private plan change will rezone land adjoining Mangere Rd from special purpose – school to terrace housing & apartment buildings, and land adjacent to Hospital Rd from terrace housing & apartment buildings and single house zones to special purpose – school.

Ellerslie, 614-616 Great South Rd, Goodman Property Trust:

The committee agreed to publicly notify Goodman Property Trust’s private plan change request to rezone 614-616 Great South Rd from business park to mixed use.

Link: Planning committee agenda 28 November

Attribution: Council releases.

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Warehouse sells at auction, but intensive residential sector mired in “no bids”

on Friday 24 November 2017 in Agency, Apartments, Barfoot and Thompson Commercial, Birkenhead, Blockhouse Bay, CBD, CBD and fringe, Ellerslie, Federal St, Freemans Bay, Greenlane, Grey Lynn, Isthmus east, Isthmus west, Learning Quarter, Market, Mt Albert, Neighbourhoods, North-east, One Tree Hill, Onehunga, Remuera, Sectors, St Heliers, St Lukes, Three Kings, Uptown, Victoria Quarter

An Onehunga warehouse sale started Barfoot & Thompson’s regular weekly commercial & apartments auction on a strong footing yesterday, but the entire residential auction market has been much weaker for months.

The apartments segment of the Thursday morning auction saw 2 of the 7 cbd apartments sold under the hammer, one of them a certainty in an auction brought forward.

Over 2 days, of the 26 intensive residential properties I logged (including cross-leases at only one of 3 auction sessions), 7 were sold at auction and one shortly after. 8 attracted no bid, and 2 were withdrawn from auction.

The intensive segment of the market covers a wide spread of homes, from apartments in the city centre to houses on cross-leased sites in suburbia. The steadiest part of that market is the supply of traditional brick & tile suburban units, on either ground level or one up, usually with the parking that many apartments don’t offer, and with less likelihood of the horrendous costs incurred in remediation when leaks are discovered.

Commercial

Isthmus east

Onehunga

126 Captain Springs Rd:
Features: 1012m² site zoned heavy industrial, 402m² warehouse & office  
Outcome: sold for $1.353 million
Agents: James Marshall & Nick Wilson

Apartments

CBD

Federal St

18 Federal St, unit 2F:
Features: fully furnished one-bedroom apartment
Outgoings: body corp levy $3004/year
Outcome: passed in at $375,000
Agents: Elizabeth Khosravi & Hamid Farid

Learning Quarter

8 Airedale St, unit 202:
Features: one-bedroom apartment, balcony
Outgoings: body corp levy $1679/year
Income assessment: $300/week until 16 January
Outcome: no bid
Agent: Annie Xu

Silo, 23 Emily Place, unit 4C:
Features: one-bedroom apartment, balcony
Outgoings: body corp levy $2990/year, parking $829/year
Outcome: pre-auction offer $310,000 acceptable, sold for $320,000
Agents: Stephen Shin & Yasu Ka

Sapphire, 76 Wakefield St, unit 412:
Features: studio
Outgoings: body corp levy $1867/year
Income assessment: $300/week, fixed until February
Outcome: passed in at $202,000
Agents: Selina Zheng & Tommy Zhang

6 Whitaker Place, unit 11A:
Features: 85m², 2-bedroom apartment, 2 parking spaces, 2 storage lockers
Outgoings: body corp levy $8183/year
Income assessment: $650/week current, parking $65/week
Outcome: no bid
Agent: Sam Yang

38A Whitaker Place:
Features: 200m²-plus, 3-bedroom whole-floor penthouse apartment, 2 bathrooms, office, 3 balconies, 3 parking spaces, storage
Outgoings: body corp levy $14,035/year
Outcome: sold post-auction on an “as is, where is” basis
Agents: Carl Madsen & George Damiris

Uptown

132 Vincent St, unit 1F:
Features: 2-bedroom apartment, balcony, secure parking space
Outgoings: body corp levy $5605/year + $595/year for parking
Income assessment: $590/week fixed until April
Outcome: passed in at $675,000
Agent: Betty Shao

Victoria Quarter

Fiore, 152 Hobson St, unit 1206:
Features: 2-bedroom apartment, deck, parking space, storage locker
Outgoings: body corp levy $5235/year
Outcome: sold for $820,000
Agents: Selina Zheng & Tommy Zhang

Isthmus east

Ellerslie

10A Wilkinson Rd, unit 10:
Features: 2-bedroom unit
Outcome: withdrawn from auction
Agents: Rain Diao & Patsy Chen

Greenlane

18 Nolan Rd, unit 6:
Features: cross-lease, 1/7 share in 2567m², 3-bedroom home, 2 bathrooms, double garage
Outcome: sold for $1.305 million
Agents: Maria Lambert & Ann Mushet

Meadowbank

2 Cruickshank Crescent:
Features: cross-lease, half share in 764m² section, 2-bedroom duplex, carport
Outcome: passed in
Agents: John Yang & Sidney Chan

Onehunga

9 Clarke Rd, unit 1:
Features: 2-bedroom unit, carport
Outcome: sold for $738,000
Agent: Paul Hodgman

One Tree Hill

64 Rawhiti Rd, unit 6:
Features: 2-bedroom unit, internal access garage, storage
Outcome: passed in
Agents: Helen Lam & Wendy Sadd

89 Rawhiti Rd, unit 4:
Features: 3-bedroom unit, garage
Outcome: no bid, back on market at $1.195 million
Agent: Paul Hodgman

Remuera

Broadway Park, Ascot, 8 Middleton Rd, unit 202:
Features: 164m², 3-bedroom apartment, 2 bathrooms, patio, double garage, storage locker
Outgoings: body corp levy $8428/year
Outcome: no bid
Agent: Shirley Shen

St Heliers

Raeburn Court, 1 Cliff Rd, unit 2:
Features: 2-bedroom apartment, carport
Outcome: passed in
Agents: Wendy Sadd & Michele Ballinger

Raeburn Court, 1 Cliff Rd, unit 5:
Features: 2-bedroom garden apartment, carport
Outcome: no bid, back on market at $1.225 million
Agent: Karin Cooper

Isthmus west

Blockhouse Bay

7 Heaphy St, unit 2:
Features: cross-lease, 1/3 share in 1533m², 3-bedroom house, 2 bathrooms, internal-access double garage
Outcome: sold for $1.09 million
Agents: William & Simon MacLean

Freemans Bay

46C Beresford St:
Features: 3-level 3-bedroom townhouse, study, balcony, double garage
Outgoings: rates $2295/year including gst; body corp levy $2905/year
Outcome: no bid, back on market at $1.048 million
Agent: Shawn Shao

Grey Lynn

19 Maxwell Avenue:
Features: cross-lease, half share in 788m², 4-bedroom house, 2 bathrooms, offstreet parking
Outcome: passed in
Agents: Matt O’Rourke & Ryan Harding

Hillsborough

81 Hendry Avenue:
Features: cross-lease, half share in 898m², 5-bedroom house, 3 bathrooms, basement garage + offstreet parking
Outcome: no bid
Agent: Kelly Zhang

Mt Albert

71 Asquith Avenue, unit 1:
Features: 2-bedroom unit, carport
Outcome: passed in, back on market at $679,000
Agent: Kevin Liu

1 Hendon Avenue, unit 1:
Features: 3-bedroom unit, garage
Outcome: withdrawn from auction
Agent: Lily Wang

St Lukes

47 St Lukes Rd, unit 1:
Features: 2-bedroom unit, garage
Outcome: sold for $630,000
Agents: Scott Larsen & Fiona Ryan

Three Kings

14 Clinker St:
Features: cross-lease, half share in 1014m², 116m² 3-bedroom house, basement garage
Outcome: sold for $822,000
Agent: Cheryl Martin

North-east

Hillcrest

7A Almadale Place:
Features: cross-lease, half share in 908m², 3-bedroom house, double carport
Outcome: no bid, back on market at $859,000
Agent: Cheryl Martin

Attribution: Auctions & auction documents.

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