Archive | Ponsonby

Updated: Wolfe St sale the big prize as 5 commercial properties sold at auction, 2 post-auction sales

Published 20 September 2018, updated 4 October 2018:
5 of the 9 Auckland properties auctioned in Bayleys’ Total Property 6 series were sold under the hammer on 19 September, and 2 more – on Wellesley St in the cbd and in Ponsonby – have been sold post-auction.

The biggest prize was the price paid for a small warehouse in the middle of Wolfe St, in the heart of the cbd, sold for a land price of $19,298/m² after standing vacant for 23 years.

For that sale, Bayleys’ international division head, James Chan, flew to Hong Kong to translate the auction proceedings for the vendor.

Image above: 6 Wolfe St (outlined), in the heart of the cbd.

CBD

Chancery

Chancery, 2A-2B Courthouse Lane, unit A101:
Features: 314m² unit, 3 tenants
Rent: $132,436/year net + gst
Outcome: sold for $2.02 million + gst
Agents: Damien Bullick, Ken Hu & Alan Haydock

Learning Quarter

Waldorf Celestion, 19 Anzac Avenue, unit 207:
Features: 20.8m², 11-year lease to NZ Waldorf Apartments Management Ltd from March 2017, 11 secure parking spaces + laundry room
Rent: $45,000/year net + gst
Outcome: sold for $790,000 + gst
Agents: Andrew Wallace & Genevieve Thompson-Ford

Waldorf, 6-12 St Martins Lane, unit B1A:
Features: 149.6m², laundry, dining & bathroom facilities, 11-year lease to NZ Waldorf Apartments Management Ltd
Rent: $44,900/year net + gst
Outcome: no bid
Agents: Genevieve Thompson-Ford & Andrew Wallace

Queen St

MidCity arcade, 239 Queen St, unit 1Y:
Features: m², leased to hair salon, current term runs until April 2021, with further renewal rights
Rent: $27,360/year net + gst
Outcome: auction postponed
Agents: Oscar Kuang

Victoria Quarter

Updated: 145 Wellesley St West, unit 1:
Features: 71m² ground floor office unit, parking space, new 3-year lease to telecommunications company Sunx Global Ltd, which has been tenant since 2010
Rent: $32,300/year net + gst + outgoings
Outcome: passed in at $450,000 + gst, sold post-auction for $470,000 at a 6.87% yield
Agents: Nicolas Ching & James Chan

Wolfe St

6 Wolfe St:
Features: 285m² site, 1912 brick warehouse opposite the historic Yates building running from Albert to Federal St, which is being gutted for a new development
Outcome: sold for $5.5 million + gst
Agents: Nick Thompson, Robert Platt & James Chan

Isthmus east

Onehunga

6 Henderson Place, unit L:
Features: vacant 396m² warehouse & office unit, 10 parking spaces
Outcome: passed in at $1.1 million + gst
Agents: Kate Kirby & Laurie Bell

Isthmus west

Grey Lynn

SOMA, 12 Mackelvie St, unit G01:
Features: new 253m² ground floor retail, showroom or office space
Outcome: withdrawn from auction
Agents: Kate Kirby & Stephen Scott

Ponsonby

Updated: 12-14 Fitzroy St:
Features: 245m² site, 180m² corner unit, 3 parking spaces
Rent: $111,000/year net + gst
Outcome: passed in at $2.5 million + gst, sold post-auction for $2.62 million at a 4.24% yield
Agents: Damien Bullick & Alan Haydock

North-east

Albany

Rosedale Plaza, 215 Rosedale Rd, unit 8:
Features: 208m² of retail, mezzanine office & warehouse/storage space, rear roller door access, 4 exclusive parking spaces; 5-year lease from September 2016, plus 2 3-year rights of renewal, to specialist fishing equipment & apparel retailer West Shell
Rent: $45,000/year net + gst
Outcome: sold pre-auction for $850,000 + gst at a 5.29% yield
Agents: Adam Curtis, Damian Stephen & Adam Watton

Orchard Park retail centre, 21 Corinthian Drive, unit 7A:
Features: 87m² restaurant unit, 10-year lease to Double Happy from September 2017
Rent: $55,014/year net + gst + opex
Outcome: sold for $1.15 million + gst
Agents: Meng He, Steven Liu & Eddie Zhong

South

Manukau Central

6 Jack Conway Avenue, unit D:
Features: 567m² warehouse, rear roller door access, seismic rating 100% of new building standard, ground floor & warehouse vacant
Rent: top floor leased until February 2023 for $30,000/year gross + gst
Outcome: sold for $1.45 million + gst
Agents: Owen Ding, Simon Davies & Nelson Raines

Attribution: Auction.

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Apartments & workshop all passed in

All 4 apartments & suburban units taken to auction by Bayleys last week were passed in.

A car workshop in the Wairau Valley was also passed in.

Apartments

Isthmus east

Grafton

8 Nugent St, unit 502:
Features: 86m², 2-bedroom sub-penthouse, heat pump, 3 panel heaters, 2 bathrooms with underfloor heating, balcony, secure parking space, storage locker
Outgoings: rates $2232/year including gst; body corp levy $4635/year
Outcome: passed in
Agent: Luke McCaw

Greenlane

11 Tawera Rd, unit 1:
Features: 2-bedroom unit, parking space
Outcome: passed in
Agent: Phoenix Chen

Isthmus west

Ponsonby

171 Ponsonby Rd, unit 4:
Features: 2-bedroom apartment, deck, 2 covered parking spaces
Outcome: passed in, back on market at $1.05 million
Agents: Robyn Clark & Peter Tanner

North-east

Browns Bay

8 Phillipa Place, unit 2:
Features: 2-bedroom unit, garage
Outcome: passed in
Agent: Aata Wairepo

Commercial

North-east

Wairau Valley

18-20 Ashfield Rd, unit K:
Features: 156m² workshop & office, new roof in 2015, seismic rating 100% of new building standard
Rent: leased for 2 years from 1 April to Buddy Autoparts Ltd for $29,000/year net + gst + outgoings, 2 2-year rights of renewal
Outcome: passed in
Agents: James Yu & Trevor Duffin

Attribution: Agency release.

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Corrected: 4 apartments out of 4 sell at auction

All 4 apartments auctioned at Bayleys today were sold under the hammer – one in Parklane at the foot of Myers Park, one in the Lapwood Spiral at the top of the park, the other 2 in the Ascent on Nelson St and the one apartment atop an industrial building in Ponsonby.

Correction: The Lapwood Spiral price had an extra zero, putting it at over $1 million for a one-bedroom unit.

CBD

Uptown

Parklane, 68 Greys Avenue, unit 4C:
Features: 2-bedroom corner apartment, 2 bathrooms, 2 balconies, 2 parking spaces, storage
Outcome: sold for $1.52 million
Agents: Diane Jackson & Julie Quinton

Corrected: Lapwood Spiral, 8 Scotia Place, unit 6D:
Features: one bedroom
Outgoings: rates $1084/year including gst
Income assessment: rented through AirBnB
Outcome: sold for $101,000 (corrected – originally written as $1.01 million)
Agents: Marcus Fava

Victoria Quarter

Ascent, 149 Nelson St, unit 723:
Features: 52m², furnished 2-bedroom penthouse, deck, parking space; new code compliance certificate issued
Outgoings: rates $1136/year including gst; body corp levy $3958/year
Outcome: sold for $426,000
Agents: Chris Bell & Lucy Piatov

Isthmus west

Ponsonby

34 Douglas St, unit 4:
Features: 230m², 3-bedroom apartment on 2 levels, 2 bathrooms, 2 living rooms, office, decks, 3 parking spaces, elevator from garage to front door
Outgoings: body corp levy $14,400/year
Outcome: sold for $3.05 million
Agents: Julie Quinton & Diane Jackson

Attribution: Auction.

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Herne Bay & Ponsonby development sites sell

Bayleys agents have sold a retail unit off Sale St in central Auckland’s western fringe, a Herne Bay site with development potential under the new zoning and a Ponsonby site with consent for redevelopment.

CBD

Victoria Quarter

20 Centre St:
Features: 247m² corner ground-floor retail unit, 2 tenants, international homeware company Zimba Designs and Turkish eatery, both on 3-year leases with renewals
Rent: $100,000/year net + gst
Outcome: sold for $1.5 million at a 6.66% yield
Agents: James Chan, Oscar Kuang & Ben Wallace

Isthmus west

Herne Bay

185 Jervois Rd:
Features: 508m² site zoned terraced housing & apartment buildings, 142m² villa occupied by medical-related tenant
Rent: $75,000/year net + gst
Outcome: sold for $2.325 million at a 3.23% yield
Agents: Scott Kirk & James Were

Ponsonby

223 Ponsonby Rd:
Features: 569m² landholding with resource consent for a boutique mixed-use retail & apartment development; currently configured as 4 2-bedroom residential units
Rent: $131,040/year gross
Outcome: sold for $4.1 million at land value of $7205/m²
Agents: Alan Haydock & Damien Bullick

Attribution: Agency release.

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Updated: Onehunga warehouse sells, Ponsonby vendor gets yield down, apartment interest low

Published 15 March 2018, updated 16 March 2018:
An Onehunga office & warehouse property (pictured) was sold under the hammer at Barfoot & Thompson’s city auction today.

A Brown St property in Ponsonby, with development potential from its mixed-use zoning, was passed in at a 4.8% yield on current rent but was sold a short time later on a 4.63% yield.

The 2 apartments on offer attracted little interest – no bid on the first, in the Stanford, and 2 bids but no deal on the second, a unit in the Urba which was passed in at a price $51,000 higher when it went to auction last August.

Commercial

Isthmus east

Onehunga

35 Church St:
Features: 396m² section, vacant 294m² office & warehouse (auction documents show the vendor was unsure if the mezzanine had consent)
Outcome: sold for $1.21 million
Agents: Murray Tomlinson

Isthmus west

Ponsonby

Updated: 62 Brown St:
Features: 326m² site zoned mixed use, 18m height limit, 436m² building, 2 commercial & 2 residential tenancies
Rent: recent income over $125,000/year with 50% vacant on settlement
Outcome: passed in at $2.6 million, at a 4.8% yield on current rent; sold post-auction for $2.7 million (4.63% on current rent)
Agents: Murray Tomlinson & Reese Barragar

Apartments

CBD

Uptown

Urba, 5 Howe St, unit 102:
Features: 55m², one bedroom + flexi-room, 5m² covered balcony, storage locker
Outgoings: body corp levy $4241/year
Outcome: passed in at $450,000
Agents: Stephen & Leo Shin

Victoria Quarter

Stanford, 189 Hobson St, unit 7B:
Features: 2 bedrooms
Outgoings: body corp levy $4586/year
Outcome: no bid
Agents: Casey Chen

Attribution: Auction.

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6 apartments & a commercial unit sell at auctions

6 apartments & townhouses were sold at Bayleys auctions over the last 2 weeks, and 7 were passed in. One was withdrawn.

A commercial unit in the Wairau Valley was also sold under the hammer.

Apartments

CBD

Uptown

Hopetoun Residences, 15 Hopetoun St, unit 1206:
Features: 2-bedroom penthouse, 2 bathrooms, balcony, 2 parking spaces
Outcome: passed in
Agents: Julie & Trent Quinton

Isthmus east

Newmarket

14D Sarawia St:
Features: 4-bedroom townhouse, 2 bathrooms, balcony, 2 parking spaces
Outcome: passed in
Agents: Harry Cheng & Wei Wei Elder

One Tree Hill

83 Moana Avenue, unit 4:
Features: 2-bedroom unit, internal-access garage
Outcome: passed in
Agent: Dianne Nichol

Parnell

57 Gladstone Rd, unit 5:
Features: 2 bedrooms, 2 living rooms, parking space
Outcome: sold for $1.55 million
Agent: Fleur Denning

Remuera

Broadway Park, 38 James Cook Crescent, unit 1E:
Features: 2-bedroom apartment in D’Urville building, balcony, internal-access garage, storage locker
Outcome: withdrawn from auction
Agents: Shona Walding & Cheryl Regan

Broadway Park, 38 James Cook Crescent, unit 7A:
Features: 215m² including balcony, 3-bedroom penthouse in D’Urville building, 2 living rooms, 3 bathrooms, internal-access garage, 3 parking spaces, storage locker
Outcome: sold for $3.05 million
Agent: David Rainbow

Isthmus west

Eden Terrace

33L Charlotte St:
Features: multi-level 3-bedroom terrace, 2 bathrooms, balcony, double internal-access garage, in electronically gated complex
Outcome: passed in
Agents: Julie Quinton & Diane Jackson

Ponsonby

70 Ponsonby Rd, unit 106:
Features: studio, parking space, under Quest Ponsonby hotel management
Outgoings: rates $4006/year including gst
Outcome: sold for $132,000
Agents: Dave Hamlyn & Wendy Nichols

Sandringham

14 Fowlds Avenue, unit 8:
Features: 3-bedroom terrace, courtyard, parking space
Outgoings: rates $2100/year including gst; body corp levy $3096/year
Outcome: passed in
Agents: David Downie & Lisa Smyth

St Marys Bay

101 Shelly Beach Rd, unit 6:
Features: 2-bedroom apartment, deck, parking space; no body corporate
Outcome: passed in, back on market at $915,000
Agent: Luke McCaw

80 St Marys Rd, unit 2:
Features: 2-bedroom unit, parking space; no body corporate
Outcome: passed in, back on market at $780,000
Agent: Chris Batchelor

North-east

Albany

28D The Avenue:
Features: 70m², one-bedroom apartment, deck, 2 parking spaces
Income assessment: $440/week current, appraisal $450-500/week
Outcome: sold for $400,000
Agent: Ryan Steven

Northcote

48A Exmouth Rd, unit 1:
Features: 3-bedroom townhouse, 2 bathrooms, double garage
Outcome: sold for $700,000
Agents: Yan Davies & Ryan Steven

North-west

Hobsonville Point

44 Onekiritoa Rd:
Features: 2-level 2-bedroom terrace, 2 living rooms, 2 bathrooms
Outcome: sold for $755,000
Agent: John Procter

Commercial

North-east

Wairau Valley

25 Ashfield Rd, unit 7:
Features: 139m² industrial unit, 2 office levels, 2 parking spaces
Outcome: sold vacant for $370,000
Agent: Trevor Duffin

Attribution: Agency release.

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4 apartments sell through City Sales auction

3 of the 8 apartments auctioned at City Sales yesterday were sold under the hammer, and a fourth sold later in the day.

Agents Steve Kirk & Habeeb Urrahman marketed 3 apartments with remedial issues, and one of those sold.

CBD

Learning Quarter

96 on Symonds, 96 Symonds St, unit 303:
Features: 36m², 2 bedrooms, deck, subject to managed apartment lease
Outgoings: rates $1188/year including gst; body corp levy $3941/year
Income assessment: $550-600/week
Outcome: sold for $220,000
Agents: Michael Jackson

Cintra, 3 Whitaker Place, unit 7A:
Features: 57m², one bedroom; remediation works identified, not yet complete; the vendor sought release from warranties & future special levies
Outgoings: rates $903/year including gst; body corp levy $4155/year
Income assessment: $/week
Outcome: passed in at $176,000
Agents: Steve Kirk & Habeeb Urrahman

Uptown

C Vu, 36 Day St, unit 9K:
Features: 42m², 2 bedrooms, deck, parking space, remediation works identified, not yet complete
Outgoings: rates $1123/year including gst; body corp levy $4455/year + remediation levy $65,627
Income assessment: $530-560/week
Outcome: sold for $432,000
Agents: Steve Kirk & Habeeb Urrahman

Dynasty Gardens, 135 Vincent St, unit 605:
Features: 47m² including balcony, 2 bedrooms
Outgoings: rates $1183/year including gst; body corp levy $2498/year
Income assessment: $450/week, fixed until June
Outcome: sold for $390,000
Agents: Steve Kirk & Habeeb Urrahman

Victoria Quarter

Zest, 70-72 Nelson St, unit 1022:
Features: 37m², 2 bedrooms, deck
Outgoings: rates $1149/year including gst; body corp levy $3899/year
Outcome: passed in at $280,000
Agents: Maryanne Wong & Dahui Chen

Isthmus east

Grafton

Luna, 16 Burton St, unit 2P:
Features: 80m², 2 bedrooms, deck, parking space; remediation works identified, not yet complete, and vendor sought release from warranties relating to such works & any further special levies
Outgoings: rates $1791/year including gst; body corp levy $3866/year
Outcome: passed in after sole bid, from vendor, at $300,000
Agents: Steve Kirk & Habeeb Urrahman

Isthmus west

Ponsonby

29 Douglas St, unit 2:
Features: cross-lease, 1/8 share in 627m², 57m² internal, one bedroom, deck, onstreet parking
Outgoings: rates $1789/year including gst; body corp levy $130/month
Income assessment: $580-620/week
Outcome: passed in at $615,000, sold post-auction for an undisclosed price after multiple offers made
Agents: Anna Birkenhead & Tina Bartlett

North-west

New Lynn               

Merchant Quarter, 20 McCrae Way, unit 1110:
Features: 69m², 2 bedrooms, deck, parking space
Outgoings: rates $1684/year including gst for the unit, $611/year for parking; body corp levy $4310/year for unit, $316/year for parking
Income assessment: $530-580/week
Outcome: no bid
Agents: Trisha Shanaghan

Attribution: Auction.

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All 7 passed in at city apartments auction

All 7 properties auctioned at Ray White City Apartments today – 6 apartments & a Ponsonby section up for development – were passed in. One attracted no bid, while bidding on another went close to a lowered reserve.

CBD

Learning Quarter

St Paul Apartments, 4 St Paul St, unit 4D:
Features: 34m², one bedroom, remedial issues
Outgoings: rates $721/year including gst; body corp levy $4874/year
Income assessment: $375/week, fixed until February
Outcome: passed in at $136,000
Agent: Dominic Worthington

Connaught, 14 Waterloo Quadrant, unit 7D:
Features: 48m², furnished one bedroom
Outgoings: rates $1838/year including gst; body corp levy $4252/year
Income assessment: $500-550/week
Outcome: passed in at $585,000
Agents: Mitch Agnew & Ryan Bridgman

Victoria Quarter

Hobson Oaks, 188 Hobson St, unit 701:
Features: 49m², 2 bedrooms, balcony, building managed by VR Group, leased to hotel
Outgoings: rates $5166/year including gst; body corp levy $6885/year
Outcome: passed in at $280,000 + gst
Agents: Damian Piggin & Daniel Horrobin

Altitude, 34 Kingston St, unit 5F:
Features: 40m², furnished 2 bedrooms
Outgoings: rates $1110/year including gst; body corp levy $3913/year
Income assessment: $460-480/week furnished
Outcome: passed in at $324,500
Agents: Damian Piggin & Daniel Horrobin

Heritage Tower, 22 Nelson St, unit 402:
Features: 63m², one bedroom, balcony, parking space
Outgoings: rates $1422/year including gst for unit, $156/year for parking; body corp levy $6984/year, parking $995/year
Outcome: passed in after sole bid from vendor at $500,000
Agents: Damian Piggin & Daniel Horrobin

Isthmus east

Parnell

Glenross, 5 Sarawia St, unit 7:
Features: 150m², 1930s 3-bedroom unit, parking space, category D building requires seismic strengthening
Outgoings: rates $2763/year including gst; body corp levy $5036/year; $10,715 levy toward replacing roof already paid
Income assessment: $800-850/week furnished
Outcome: no bid
Agents: Krister Samuel

Isthmus west

Ponsonby

89 Summer St:
Features: 243m² section, one-bedroom house, offered “as is, where is”
Outgoings: rates $3098/year including gst
Outcome: passed in after sole bid from vendor at $750,000
Agents: Zarlane & Bernie Grubisic

Attribution: Auction.

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Petrol station sells on 4.6% yield

A Ponsonby petrol station has been sold on a 4.6% yield and a Morningside warehouse has been leased by Colliers agents. In Christchurch, the agency has sold a Riccarton office building at auction.

Sales

Isthmus west

Ponsonby

47 Jervois Rd:
Features: 550m² unit title, BP petrol station
Outcome: sold for $2.285 million at a 4.6% yield
Agents: David Palmer & John Davies

South Island

Canterbury

Christchurch – Riccarton

15 Leslie Hills Drive:
Features: 832m² site, 354m², 2-storey office building, 9 parking spaces
Rent: $80,000/year net + gst + opex from renewed 2-year lease
Outcome: sold at auction for $902,500
Agents: Mark Macauley & Will Franks

Lease

Isthmus west

Morningside

18-20 Morningside Drive:
Features: 1600m² site, 1300m² warehouse owned by Metge Properties Ltd, 15 parking spaces, new long-term lease to Brownies Mattresses Ltd
Agents: Jonathan Lynch & Leroy Wolland

Attribution: Agency release.

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Bendon showroom sells at auction but 3 other properties fail to attract a bid

A Bendon Retail showroom in Otara sold on a 4.4% yield at Barfoot & Thompson’s commercial auction yesterday.

2 retail assets in an Avondale shopping centre building – one with some residential potential and both with a 32.5m height limit through their town centre zoning under the new unitary plan – were passed in without a bid. A Ponsonby office unit also failed to attract a bid.

Isthmus west

Avondale

1976 Great North Rd, unit 5:
Features: 140m², ground-floor retail unit with 10 years to run on lease
Rent: $49,735/year net + gst
Outcome: declared reserve $695,000, no bid
Agents: Reese Barragar & Colin Stewart

1976 Great North Rd, unit 6:
Features: 227m², 3 tenants – 2 retail + unconsented residential
Rent: $75,400/year gross
Outcome: declared reserve $895,000, no bid
Agents: Reese Barragar & Colin Stewart

Ponsonby

70 Ponsonby Rd, unit G5:
Features: office unit, 2 large signboards & secure parking space, on ground floor of the Quest apartment complex
Rent: $42,640/year net + gst on new long-term lease
Outcome: no bid, back on market at $898,000 + gst
Agents: Reese Barragar & Murray Tomlinson

South

Otara

18 Birmingham Rd:
Features: 1143m² section, 602m² building; Bendon Retail Ltd, tenant since 1999, is on 2-year lease with one more 2-year right of renewal
Rent: $53,857/year net + gst
Outcome: sold for $1.211 million at a 4.44% yield on current rent
Agents: James Marshall & Murray Tomlinson

Attribution: Auction.

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