Properties on Barrys Point Rd in Takapuna and at Helensville, both earmarked as development prospects sold under the hammer at NAI Harcourts’ commercial auction yesterday, but after that the dominant bidders were the vendors.
Many auctioneers use vendor “bids” to coax prospective buyers into getting bidding underway, and will use these “bids” as an indicator again if offers are well short of reserve. But yesterday, auctioneer Andrew North found himself making 3 vendor bids on each of the last 2 properties on offer, against one on each from the floor.
You could put that down to the state of the market, but the lack of interest in those 2 properties followed spirited bidding for the Barrys Point Rd site.
331 Rosedale Rd, unit 1A:
Features: 129m² air-conditioned café on new 8-year lease with renewals to 2041, patio; 58m² ground-floor office, 14 parking spaces including 2 leased out
Rent: $77,235/year + opex + gst from 2 tenants, 2 parking spaces leased out at $260/month ($3120/year + gst)
Outcome: passed in after a bid from the floor at 1 million, followed by 3 vendor indicator bids up to $1.2 million
Agent: Albert Quan
42 Barrys Point Rd:
Features: 825m² site, 188m² building – ground 155m², basement storage 33m², 12 parking spaces, vacant possession after Espresso Relax Ltd tenancy expired, 18m height limit (including 2m roof form)
Rent: was $40,978/year + gst
Outcome: sold for $1.75 million
Agents: Andrew Bruce, Marty van Barneveld & Rob Meister
15 Railway St:
Features: 1366m² site in 2 titles, 166m² floorspace, gravelled yard, vacant possession
Outcome: sold for $650,000 at $476/m² land
Agents: Rene Geertshuis & Geoff Thorne
84 Henderson Valley Rd:
Features: 5014m² site, 660m² floor area, occupied by glass fibre-reinforced concrete company GRC NZ Ltd on lease with final expiry in 2024
Rent: $81,000/year net + opex + gst
Outcome: passed in after vendor bids at $1.3 million & $1.4 million, a bid from the floor at $1.41 million and a final vendor bid at $1.5 million
Agent: Marty van Barneveld