Archive | Avondale

City loft & Onehunga section sell

A city loft and an Onehunga property zoned for intensification sold at Bayleys’ residential auctions last week.

CBD

Queen St

QVB Building, 6 Victoria St East, unit 6B:
Features: 2-level loft, mezzanine bedroom
Outcome: sold for $511,000
Agents: Julie Quinton & Wendy Nichols

Uptown

Highgate Towers, 8 Howe St, unit 3A:
Features: 2 bedrooms, 2 bathrooms, 2 balconies, 2 parking spaces
Outcome: passed in
Agents: Julie Quinton, Trent Quinton & Ellis Prince

Isthmus east

Onehunga

53 Spring St:
Features: 989m² site, 4-bedroom villa in terraced house & apartment buildings zone
Outcome: sold for $1.95 million
Agent: John Procter

Parnell

258 Parnell Rd, unit 43:
Features: studio, parking space
Outcome: auction postponed
Agent: Trisha Vincent

Isthmus west

Avondale

76 Riversdale Rd, unit 4:
Features: one-bedroom unit, carport
Outcome: up for sale by mortgagee, withdrawn from auction
Agents: Cherry Killgour & Steve Leyland

South

Manurewa

2 Totara Rd:
Features: 1042m² section, 3-bedroom house, basement garage, resource consent approved for 3-lot subdivision
Outcome: passed in, back on market at $799,000
Agents: Vanessa Nash, Ginny Cheyne & Stefni Baigent

Attribution: Auction documents.

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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.

CBD

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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Corrected: High price for Rosebank industrial land

Published 28 August 2018, corrected 30 August 2018:
An observant valuer did the small calculation I hadn’t done – and it’s higher. A vacant area of almost 2000m² in Avondale’s Rosebank Rd industrial precinct has been sold by Bayleys for just over $900/m² (the figure below has been corrected – it’s $5 more than originally written). A warehouse property and a retail unit in the area have also been sold.

Isthmus west

Avondale

14-18 Honan Place:
Features: 3144m² zoned light industrial, located just off Rosebank Rd, 2 industrial buildings totalling 2041m², including 1606m² of warehousing, over 30 parking spaces
Rent: $80,000/year net + gst of holding income from month-to-month lease on rear building
Outcome: sold for $3,387,500
Agents: James Hill & Mark Preston

Corrected: 31 Patiki Rd:
Features: 1978m² undeveloped site zoned heavy industrial, roadfront position in Rosebank Rd industrial precinct
Outcome: sold with vacant possession for $1.8 million at $910/m² (originally stated as $905/m²)
Agents: Mark Preston & Sunil Bhana

6C Wingate St:
Features: 80m² retail unit, previously a sushi outlet, part of retail complex completed in 2012, 31 common parking spaces
Outcome: sold vacant for $568,000 at $7100/m²
Agents: Janak Darji, Tony Chaudhary & Amy Weng

Attribution: Agency release.

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3 industrial sales for JLL

JLL agents have sold 2 Penrose warehouses, one at a 5.1% yield and the other vacant, plus a Rosebank Rd industrial unit in Avondale.

Isthmus east

Penrose

13C Bassant Rd:
Features: 154m², vacant warehouse
Outcome: sold for $631,000 + gst
Agents: Richard McNaught & Luke Nash

641 Great South Rd:
Features: 3840m² site, 1731m² warehouse, low site coverage
Outcome: sold for $4.15 million + gst at a 5.1% yield
Agents: Richard McNaught & Luke Nash

Isthmus west

Avondale

390B Rosebank Rd:
Features: 632m² site, vacant 506m² industrial unit – warehouse 353m², office 153m²
Outcome: sold for $1.15 million + gst
Agents: Luke McGill & Richard McNaught

Attribution: Agency release.

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4 sales, 7 leases

Industrial & commercial property specialist Commercial Realty Ltd has reported deals completed over $50,000 from May to July. Some had confidential pricing which I’ve mentioned, but I’ve omitted those with so little detail as to make this report meaningless.

Below are 4 sales & 7 leases signed around the Auckland region.

Sales

CBD

Lorne St

8 Lorne St, basement:
Features: 275m², secondary retail
Outcome: sold for $1.475 million
Agent: Reid McGowan

North-west

New Lynn

72 Delta Avenue:
Features: 1200m² standalone building
Outcome: sold to a dance studio for $1.875 million + gst
Agents: Mike Edward & Daniel Speck

South

East Tamaki

15 Bishop Lenihan Place, unit 22:
Features: 102m², live/work unit, 2 stacked parking spaces
Outcome: sold for $477,725
Agents: David Turner & Reid McGowan

Papatoetoe

260 Puhinui Rd:
Features: 8051m² site, 3664m² building
Outcome: sale & leaseback, price confidential
Agents: Mike Edward, Mark Bramwell & Reid McGowan

Leases

Isthmus east

Penrose

Part 323 Church St:
Features: 600m² car yard
Rent: leased to a car dealership for $75,000/year net + gst
Agent: Willie Fernandes

100 Gavin St:
Features: 3171m² warehouse, 1800m² yard, leased to an international tenant
Rent: $455,242/year net + gst
Agent: Danny Guise

22 Industry Rd, unit 2:
Outcome: sold to an investor for $875,000
Agent: Kerry McGuffog

Isthmus west

Avondale

12A Saunders Place:
Features: 698m² warehouse & office
Rent: leased for $93,000/year on a long term to a local Rosebank Rd business at the full asking rental
Agents: Tom Cooper & Mark Bramwell

South

Drury

4 Creek St:
Features: 2000m² yard, 700m² warehouse
Rent: leased for $105,000/year net + gst
Agents: Mark Bramwell & Brad Rathbun

Mangere

50 Andrew Baxter Drive:
Features: 1800m² site, 1080m² warehouse & office
Rent: leased for $175,000/year net + gst
Agents: Danny Guise & Mike Edward

Manurewa

Part 239 Browns Rd:
Features: 1200m² warehouse
Rent: leased to an international tenant for $120,000/year net + gst
Agent: Brad Rathbun

Attribution: Agency release.

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

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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4 intensive residential sales at week’s auctions

10 intensive properties – apartments, suburban units and one property with consent for 4 terraced houses – were auctioned at Barfoot & Thompson’s city office this week, and 4 sold.

That picture, after a more successful auction on Thursday afternoon than many recently, compares to the state of play at close on Wednesday: 6 auctioned, 2 sold.

The greater success rate followed Thursday afternoon’s auction of 11 residential properties (including standalone houses), of which 7 sold, including 2 of the 3 suburban units.

CBD

Uptown

Harbour Green, 11 Union St, unit 711:
Features: 2-bedroom apartment, deck, basement parking space
Outcome: passed in, back on market at $415,000
Agents: Wendy Feng & Jack Li

Isthmus east

Newmarket

176 Broadway, unit B502:
Features: 63m², 2-bedroom apartment, 2 bathrooms, secure parking space
Outcome: passed in
Agent: Peter Wu

Onehunga

Norfolk Rise, 110D Grey St:
Features: 3-bedroom unit, carport
Outcome: passed in at $804,000
Agent: Digna Clark

15 Heretaunga Avenue, unit 1:
Features: 2-bedroom unit, 2 garden sheds, carport
Outcome: sold for $683,000
Agent: Kevin Liu

Remuera

Park Crest, 524 Remuera Rd, unit 10B:
Features: 2-bedroom apartment, 2 bathrooms, balcony, 2 parking spaces, storage locker
Outgoings: estimated body corp levy for 2019 $12,374/year
Outcome: no bid, back on market at $1.495 million
Agents: Andrew Tills & Anne Bruford

705 Remuera Rd, unit 1D:
Features: 3-bedroom apartment, 2 bathrooms, terrace, 2 secure basement parking spaces, storage locker
Outcome: no bid, back on market at $1.698 million
Agents: Leila & David MacDonald

Royal Oak

44 Korma Rd, unit 2:
Features: about 66m² internal, 2-bedroom unit, large deck, carport, garden shed; 13.4m² container-studio outside provides options for officer or storage
Outcome: sold for $690,000
Agent: Justin Coleman

Isthmus west

Avondale

19A & B Holly St:
19A features: 89m² unit, 3 bedrooms, balcony, private & secure courtyard, carport, storage
19B features: refurbished 2 bedrooms, balcony, carport
Outcomes: no bid on the 2 together; 19A was then sold for $596,000; there was no bid on 19B on its own and it’s back on the market at $550,000
Agents: Jason Tsang & Ian Yu

North-west

Te Atatu South

6 Milich Terrace:
Features: 809m² section, 3-bedroom house, garage; resource consent granted for 4 terraced houses with study & double internal-access garages
Outcome: sold for $730,000 at mortgagee auction
Agent: Philip Davis

Attribution: Auctions.

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Caryard sells post-auction, plus 3 more West Auckland deals

A New Lynn caryard has sold 5 weeks after being passed in at auction, and Bayleys agents have added another 3 sales in West Auckland – 2 in Avondale and one in Glen Eden.

Isthmus west

Avondale

Harbourside Business Park, 485A Rosebank Rd, unit 1:
Features: 216m² ground-floor office unit in modern 2-level building, open plan workspace, 2 offices, boardroom, lunchroom, reception area & associated amenities, rear deck area overlooking harbour, 8 parking spaces
Outcome: sold vacant for $713,000 at $3300/m²
Agents: Mark Preston, Sunil Bhana, Laurie Bell & James Hill

7 Wingate St:
Features: 599m² site zoned mixed use in heart of Avondale Village, 432m² warehouse; new 4-year lease to Spice World grocery store
Rent: $162,500/year net + gst
Outcome: sold for $972,000 at a 6.17% yield
Agents: Tony Chaudhary & Millie Liang

North-west

Glen Eden

9 Westech Place, unit M:
Features: 110m² high stud industrial unit with coldroom, previously used for food production
Outcome: sold with vacant possession for $330,000 at $3000/m²
Agents: Mark Preston, Nicolas Ching & Beterly Pan

New Lynn

3026 Great North Rd:
Features: narrow 956m² car sales yard near Lynnmall shopping centre, dual frontage through to Veronica St, occupied by Just Prestige Cars
Rent: holding income $48,000/year net + gst
Outcome: passed in at $1.15 million at auction on 16 May, sold post-auction for $1.305 million
Agents: Kate Kirby, Stephen Scott, Tony Chaudhary & Amy Weng 

Attribution: Agency release.

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5 sales & 6 leases

Bayleys agents have completed 5 sales on the North Shore, in Henderson and on Waiheke Island, and 6 leases in the Auckland cbd, Avondale and on the Shore.

Sales

Hauraki Gulf islands

Waiheke Island

171 Carsons Rd:
Features: 8.95ha of land
Outcome: sold in May for $2.85 million + gst
Agents: Ranjan Unka & Brian Caldwell

North-east

Birkenhead

27-33 Mokoia Rd, unit 4:
Features: 59m² retail unit occupied by cafe on new 2-year lease with 2 2-year rights of renewal sold for $502,000 at a 4.98% yield
Rent: $25,000/year net + gst
Outcome: sold for $502,000 at a 4.98% yield
Agents: Owen Ding, Oscar Kuang, Michael Nees

27-33 Mokoia Rd, unit 5:
Features: 59m² retail unit occupied by Kebab Serai, one of the Turkish takeaway’s 4 Auckland outlets, on a lease until April 2020, 2 5-year rights of renewal
Rent: $24,000/year net + gst
Outcome: sold for $500,000 at a 4.8% yield
Agents: Owen Ding, Oscar Kuang & Michael Nees

Takapuna

8-12 The Promenade:
Features: 817m² corner site zoned metropolitan centre, frontage to 3 cbd streets, 1672m² 2-level commercial building, anchored by 2 restaurants & gym, range of office tenancies on the upper level & 373m² of vacant space, 18 open-air, rooftop parking spaces; 10 leases have final expiries ranging from 2018-28 and all but 2 have demolition clauses
Rent: $415,091/year net + gst
Outcome: sold for $7.4 million at a 5.61% yield
Agent: Brian Caldwell

North-west

Henderson

9-11 Aetna Place:
Features: 8712m² site, 6495m² industrial premises – 5095m² warehouse, 8.9-10.35m stud, multiple roller doors & 1120m² canopy, office & amenities 280m²
Outcome: sold with vacant possession for $9 million
Agents: Sunil Bhana, James Valintine, Mike Houlker & Matt Mimmack

Leases

CBD

Victoria Quarter

118-122 Nelson St:
Features: 1344m² office, 18 parking spaces
Rent: leased in April for $346,522/year net + gst (based on an average over 10 years), parking $50/space/week, premises rental $223/m²
Agents: Tonia Robertson + Jean Paul Smit

Isthmus west

Avondale

419A Rosebank Rd:
Features: 1692.39m² industrial property – warehouse 1,509.19m², showroom 137.17m², office 46.03m², 15 parking spaces
Rent: leased in April for $202,868.85/year net + gst, premises rental $120/m²
Agents: Tonia Robertson & Mark Preston

North-east

Albany

287 Oteha Valley Rd, unit 5:
Features: 150m² retail, shared parking
Rent: leased in April for $85,000/year net + gst, premises rental $566/m²
Agents: Steven Liu, Matt Lee & Quinn Ngo

Birkenhead

80-94 Mokoia Rd, shop 1B, 2 & 3:
Features: 429.3m² shop, 7 parking spaces
Rent: leased in April for $129,932/year net + gst, parking $20-25/space/week, premises rental $303/m²
Agent: Ildy Meixner

Wairau Valley

7 Kaimahi Rd:
Features: 958m² industrial unit warehouse 708m², office 83m², mezzanine 167m², 8 parking spaces
Rent: leased in May for $115,000/year net + gst, premises rental $120/m²
Agents: Trevor Duffin & Eddie Zhong

16 Woodson Place, unit C:
Features: 638m² industrial unit – warehouse 506m², office 120m², other 12m², 11 parking spaces
Rent: leased in May for $83,090/year net + gst, premises rental $130/m²
Agent: Trevor Duffin

Attribution: Agency release.

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Bulk retail property among 3 West Auckland sales

A Henderson bulk retail property occupied by The Appliance Shed & Warehouse Stationery was among 3 recent sales in West Auckland by Bayleys agents.

Isthmus west

Avondale

48 Rosebank Rd:
Features: 1877m² town centre-zoned site, 32.5m height overlay; 1611m² 2-level character building, seismic assessment of 79% of new building standard
Outcome: sold with vacant possession for $3.3 million at $2048/m² land & building
Agents: Damien Bullick & Alan Haydock

North-west

Glendene

44 Bancroft Crescent:
Features: 4892m² corner site in established industrial precinct
Outcome: sold for $1.7 million at $347.50m²
Agents: Mike Adams & Dave Stanley

Henderson

28 Catherine St:
Features: 4497m² site with metropolitan centre zoning, 2427m² bulk retail premises occupied by The Appliance Shed & Warehouse Stationery since 2007 and on recently renewed leases, 59 parking spaces
Rent: $500,145/year net + gst
Outcome: sold for $7.58 million at a 6.6% yield
Agents: James Valintine, Sunil Bhana & Mike Houlker

Attribution: Agency release.

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