Archive | Mangere

Demolition starts on Mangere regeneration project

Demolition has started along Bader Drive in Mangere for the next major regeneration project for state housing areas in Auckland.

The programme envisages 2700 older state houses being replaced by 10,000 new homes over the next 10-15 years, in roughly equal mixes of intensive & standalone, and state, affordable & market-price.

Mangere has joined Northcote, Mt Roskill & Oranga (near Onehunga) as a focus for largescale urban development by Housing NZ and its subsidiary, HLC (2017) Ltd (originally Hobsonville Land Co Ltd).

Hobsonville is different because it’s been all about new housing, with only a few former Defence Force homes displaced. In the other areas – and in the Government’s Tamaki programme with Auckland Council – large numbers of state houses are being demolished to make way for more intensive subdivisions containing homes that meet modern standards.

Housing, Urban Development & Transport Minister Phil Twyford onsite with HLC precinct director Mark Fraser (left) & local MP William Sio.

While existing residents are necessarily displaced, Housing, Urban Development & Transport Minister Phil Twyford said on Friday those residents would be at the top of the priority list for new homes.

He emphasised the ultimate aim of community, not just housing, and particularly access to jobs.

Light rail a factor

Mr Twyford said regeneration would be a hallmark of this government: The Mangere project is “alongside the light rail site [from the cbd to Mt Roskill and on to the airport], which will deliver 21st century rapid transit to these communities and will be a powerful stimulant for economic development, attracting investment into these communities.”

He said light rail would prove a powerful magnet for private investment around rail stops, and would also connect Mangere “to the biggest concentration of jobs in the region [around the airport]… This community has been starved of good public transport for too long.”

Mr Twyford also said it was important that the project retained the existing community, although new price & ownership options would obviously bring change: “It is not our policy to run a regeneration programme that pushes values up and pushes the community out. It’s a policy to build homes & security. Families living in this community will get priority. [But] mixed communities are strong communities. That’s why we want private [in the mix].”

“We’re also working on ideas to include in the mix for this community tenure-secure rental.”

That’s the kind of long-term rental common in Europe, where large portfolios of rental housing have become a popular investment option for US, European & Australian property investment companies.

One issue for critics is how the cost of such developments will be met. Mr Twyford was adamant: “This project will wash its face. We’re redeveloping publicly owned land, reinvesting capital into homes. The KiwiBuild homes will be supported by the $2 billion KiwiBuild fund, and there will be community & residential development alongside the light rail route.”

The KiwiBuild homes would be priced under the Auckland KiwiBuild price caps of $650,000 for 3 bedrooms, $600,000 for 2 bedrooms. In addition, Mr Twyford said, “We’re working hard to put in place a shared equity scheme, which will make it possible for a lot of people to take part in the KiwiBuild scheme, reducing the upfront costs a buyer has to pay.

“We’re mobilising capital – public, and hopefully private as well – to get families into homes. And we’re working with Maori to look at ways we can work with iwi to ensure whenua Maori get a fair share of the homes.

Mangere about 40% of regeneration programme

The Mangere development will make up about 40% of HLC’s Auckland housing programme – 10,000 of the 24,300 new homes around the region over the next 10 years (or 10-15 years for Mangere).

The start last week was on demolition of houses in the first stages of the regeneration programme (in colour on the aerial picture), along Bader Drive between McKenzie Rd & Mangere College.

Housing NZ has about 100 redevelopments underway around Auckland, ranging in scope from a property or 2 through to largescale developments involving 1000 or more new homes. The programme, begun in June 2016, has a target of delivering over 10 years:

  • almost 11,500 additional new state houses
  • over 12,800 new affordable & market-priced homes.

Links:
HLC
Housing NZ, Auckland housing programmes

Related stories, 16 July 2018:
Putting change in context
Robertson outlines focus shift from GDP measure to wellbeing
Demolition starts on Mangere regeneration project
Finance minister calls Productivity Commission in to examine local body funding

Attribution: Mangere presentation, site visit, HLC release.

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Council to fight Crater Hill & Okura appeals, and appeals itself over rural subdivision

Auckland Council said yesterday it would fight appeals by landowners against 2 unitary plan decisions in favour of the council, and will also appeal on a third issue where the council lost.

Almost all 108 appeals against the Auckland unitary plan have been resolved in the Environment & High Courts.

But landowners have lodged appeals to the High Court against 2 of the 3 decisions the Environment Court has issued in the last 2 months. They relate to the location of the rural:urban boundary & zoning in the Crater Hill/Pukaki area at Mangere and at Okura, at the top of the North Shore.

The third recent decision concerns planning controls for subdividing land in rural Auckland. The Environment Court went against the council on that, and the council has decided to appeal.

The council released its decisions on the unitary plan in August 2016.

At Crater Hill/Pukaki, the Self Family Trust & adjacent landowners want their land included inside the rural:urban boundary.

At Okura, Todd Property Group Ltd has appealed against the Environment Court’s decision not to include its land inside the rural:urban boundary, where the company wants to build 1000 houses. That land is beside the Okura estuary marine sanctuary.

Council planning committee chair Chris Darby said yesterday: “We will actively support the Environment Court’s decisions in the High Court through the presentation of legal submissions.

“For a wide range of reasons, the Crater Hill/Pukaki and Okura areas are not suitable for urban development.

“In relation to the recent decision that deals with subdividing land in rural Auckland, our legal advice is that the Environment Court has made a number of errors in law. For that reason, and given the importance of protecting the rural economy’s finite resources such as high quality soils & sensitive rural landscapes, the council has decided to appeal this decision to the High Court.”

Link:
[2018] NZEnvC 087 Okura Holdings Limited & Others v Auckland Council [PDF, 11 MB]

Earlier story:
23 April 2018: Court rejects housing on Crater Hill & peninsula near airport

Attribution: Council release.

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4 industrial sales & 10 leases

Commercial Realty Ltd agents have completed 4 industrial sales for over $50,000, also leased one of those properties and signed another 9 leases since April. The agency specialises in industrial & commercial property. I haven’t gone back to determine the types of property in each transaction.

Sales

Isthmus east

St Johns

145F Morrin Rd:
Features: 91m²
Outcome: sold for $350,000 + gst
Agent: David Turner

South

East Tamaki

29F Neilpark Drive:
Features: 100m²
Outcome: sold for $320,000 + gst
Agent: David Turner

South of the Bombays

Manawatu

Levin

16-20 Roe St:
Features: 1315m²
Outcome: sold for $2.45 million + gst, leased for $175,000/year + gst
Agent: John Lee

Waikato

Pokeno

Gateway Business Park:
Features: 11,000m² of land
Outcome: sold for $2.439 million + gst
Agent: Mark Bramwell

Leases

Isthmus east

Mt Wellington

24R Allright Place:
Features: 485m²
Rent: leased for $56,000/year + gst
Agent: Danny Guise

Onehunga

14 Angle St:
Features: 575m²
Rent: leased for $78,000/year + gst
Agent: Danny Guise

Penrose

Part 8-12 Greenpark Rd:
Features: 1460m²
Rent: leased for $185,000/year + gst
Agents: Danny Guise & Willie Fernandes

373 Neilson St:
Features: 2598m²
Rent: leased for $435,476/year + gst
Agent: Willie Fernandes

Isthmus west

Mt Roskill

62-68 Carr Rd:
Features: 1050m²
Rent: leased for $76,800/year + gst
Agent: Reid McGowan & Willie Fernandes

South

East Tamaki

110D Cryers Rd:
Features: 309m²
Rent: leased for $52,000/year + gst
Agent: David Turner

Mangere

17 Aintree Avenue:
Features: 1100m²
Rent: leased for $150,000/year + gst
Agent: Kerry McGuffog

Part 38 Richard Pearse Drive:
Features: 1566m²
Rent: leased for $195,000/year + gst
Agents: Mike Edward, Reid McGowan & Willie Fernandes

Papakura

40-52 Hunua Rd:
Features: 1000m²
Rent: leased for $123,575/year + gst
Agent: Mark Bramwell

Attribution: Agency release.

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Mangere development site sells

The last site left in the Oruarangi Rd development block near Auckland Airport was sold at CBRE’s auction yesterday at 545/m².

South

Mangere

586 Oruarangi Rd:
Features: 9999m² industrial lot near Auckland Airport, dual access to Te Tiki Rd, last site left in the Oruarangi Rd development block, surrounded by new developments
Outcome: sold for $5.45 million + gst
Agents: Paul Steele & Claus Brewer

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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Court rejects housing on Crater Hill & peninsula near airport

Auckland Council issued a release today welcoming an Environment Court decision that the Crater Hill (Nga Kapua Kohuora) volcanic cone & the elite soils of Pukaki Peninsula – between Auckland Airport & Papatoetoe – are to remain protected from residential development & future urbanisation.

The court declined an appeal by the Self Family Trust & adjacent landowners against the Auckland unitary plan, which zones Crater Hill & Pukaki Peninsula as rural land outside the rural urban boundary.

The South-western Motorway (State highway 20) cuts through part of the hill at Mangere.

The trust had proposed including the land inside the rural urban boundary to allow building up to 575 houses on certain parts of Crater Hill and appealed against the council’s unitary plan decision.

Landowners saw parts of Pukaki Peninsula as a future urban zone allowing urbanisation over areas of very productive land.

A coalition of 5 community groups & over 800 signatories petitioned the council in 2016 to save the hill & peninsula from development, which would have allowed the houses to be built on the region’s last undeveloped volcano.

The petition was led by the Geoscience Society, Civic Trust Auckland, SOUL ((Save Our Unique Landscapes) campaign, Friends of Maungawhau & Redoubt Ridge Environmental Action Group.

They argued that the unitary plan described the volcanic cones & fields as “defining natural & physical features that provide a unique setting and contribute significantly to Aucklanders’ quality of life”.

The petition added: “Since 1950, 65% of the 26 volcanoes in the southern half of the Auckland volcanic field have been demolished, built over or severely damaged. Crater Hill is the last one left in private ownership and is currently in remarkably good shape in spite of the South-western Motorway & the owners’ quarrying & back-filling activity inside one part of the crater. The recommended unitary plan has an objective (D10.2.4) that states: ‘Where practicable, the restoration & enhancement of outstanding natural features is promoted.’”

Auckland Council planning committee chair Chris Darby said today the appeal was a test of the unitary plan provisions: “At the time the unitary plan was introduced, we were acutely aware of the need to protect the ‘green lungs’ of Auckland and ensure that the natural & cultural landscape of Auckland would be safeguarded.

In the Environment Court decision, Judge Jon Jackson and environment commissioners Eileen von Dadelszen & James Baines said that, while the decision would have implications for housing elsewhere in the city, housing demand wasn’t a simple issue: “It is not a case of ‘push the balloon of supply in here and it will bulge out elsewhere.’”

Taking into account the existing markets available for housing, the court was satisfied its decision would have minimal impact on housing supply & prices.

“Standing back and looking at all relevant considerations, properly weighted, we consider that Auckland Council drew the rural urban boundary in the correct place so as to exclude Pukaki Peninsula & Crater Hill. Its decision should be confirmed as creating an appropriate strong defensible boundary in this area.”

Attribution: Council release, Civic Trust.

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5 industrial sales around isthmus & Mangere

Bayleys agents have completed 5 industrial sales around the east of the Auckland isthmus and in Mangere, ahead of today’s second Total Property auction for the year. I’ll have the auction results tomorrow.

The sales included one of the properties Augusta Capital Ltd has bought to seed its new industrial property fund.

Isthmus east

Mt Wellington
1066 Great South Rd, unit T:
Features: 93m² industrial unit
Outcome: sold with vacant possession for $315,000 at $3387/m² land & building
Agent: Ben Wallace

20 Paisley Place:
Features: 1.363ha site, 7877m² industrial building; Americold NZ Ltd has a lease expiring 30 November 2019, and primary producer logistics company Icepak Ltd, a subsidiary of Halls Group, is to lease the property for 12 years from 1 December 2019
Outcome: sold to Augusta Industrial Fund for $25,384,615 at a 6.5% yield
Agents: Chris Bayley & Mike Houlker

Otahuhu

35 Atkinson Avenue:
Features: 1095m² site, recently refurbished 520m² industrial building, fully occupied by 4 tenants, anchored by new 10-year lease
Outcome: sold for $1.63 million at a 6.13% yield
Agents: Scott Kirk, James Were & Tony Chaudhary

St Johns

67H Elizabeth Knox Place:
Features: 300m² industrial unit – warehouse 160m², office 140m²
Outcome: sold for $1,195,000 with vacant possession at $3983/m² land & building
Agents: Greg Hall & Chris Bayley

South

Mangere

4 Waokauri Place:
Features: 3733m² site, steel manufacturing plant comprising 2112m² of warehouse & 220m² of offices; longstanding owner-occupier Formsteel Technologies Ltd has leased back for 6 years with 2 3-year rights of renewal
Outcome: sold for $4 million at a 6.35% yield
Agents: Dave Stanley & Jamsheed Sidhwa

Attribution: Agency release.

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8 commercial properties sell for total $11 million

8 commercial properties were sold for just under $11 million at Bayleys’ first Auckland Total Property auction of the year on Wednesday and a second auction session that day.

Another 3 properties were sold prior and 3 were withdrawn.

CBD

Victoria Quarter

137 Hobson St:
Features: 50m² ground-floor retail space under Imperial Gardens Apartments, 3 parking spaces
Rent: $76,630/year net + gst
Outcome: no bid
Agents: Nicolas Ching & James Chan

Hauraki Gulf islands – Waiheke

Ostend

23 Belgium St:
Features: 1619m² site zoned commercial 2 (Ostend village), block of 4 shops, 20 parking spaces
Rent: $94,000/year net + gst + opex from 4 leases
Outcome: sold for $1.86 million at Wednesday afternoon auction session (not in Total Property list)
Agents: Clive Lonergan & Lisa Hopewell

North

Kaitaia

32 Dominion Rd:
Features: 1190m² site, 230m² floor area, childcare centre on 2 5-year lease terms from October 2017
Rent: $48,000/year net + gst
Outcome: sold for $680,000
Agents: Shane Snijder & Steve McNally

North-east

Albany

Orchard Park, 21 Corinthian Drive, unit 7A:
Features: 87m² retail
Rent: $53,672/year net + gst + opex
Outcome: pre-auction offer of $1,073,440 was acceptable, but sold for $1.2 million
Agents: Eddie Zhong & Steven Liu

Orchard Park, 21 Corinthian Drive, unit 7B:
Features: 76m² shop
Rent: $45,000/year net + gst
Outcome: sold for $910,000
Agents: Eddie Zhong & Steven Liu

Rosedale

39 Apollo Drive, unit J:
Features: 130m² ground=floor office, 4 parking spaces
Rent: $36,677/year net + gst + outgoings
Outcome: sold prior, price confidential
Agents: Jane McKee & Tonia Robertson

Rothesay Bay

2-8 Montgomery Avenue:
Features: 316m² corner site, 190m² floor area, 2 tenancies, mixed-use residential development potential
Rent: $70,622/year net + gst + outgoings
Outcome: sole bid from vendor at $1.1 million, passed in
Agents: Brian Caldwell

Takapuna

452-456 Lake Rd:
Features: 369m² site, 187.4m² floor area, 8 parking spaces, anchor tenants Heartland Bank & Basu restaurant
Rent: $134,180/year net + gst + outgoings
Outcome: sole bid from vendor at $3.5 million, passed in
Agents: Tonia Robertson & Ranjan Unka

8-12 The Promenade:
Features: 817m² site, 1672.5m² retail & office building
Rent: $414,091/year net + gst
Outcome: sole bid from vendor at $6.5 million, passed in
Agents: Brian Caldwell

Wairau Valley

17 Ashfield Rd:
Features: 1017m² site, 692m² building, 5 industrial units on one title
Rent: $75,600/year net + gst
Outcome: passed in at $1.535 million
Agent: Trevor Duffin

25 Ashfield Rd, unit 7:
Features: 139m² industrial unit, 2 office levels, 2 parking spaces
Outcome: sold in February at pre-auction offer of $370,000
Agent: Trevor Duffin

North-west

New Lynn

11 Binstead Rd:
Features: 857m² site, 556m² building
Outcome: passed in at $1.675 million
Agents: Mike Adams & Phil Haydock

South

Beachlands

191 Jack Lachlan Drive:
Features: 9356m² development site zoned residential mixed housing suburban
Outcome: no bid
Agent: Dave Stanley

Mangere

22-28 Rosella Rd:
Features: 3277m² site, 793m² building
Outcome: sold for $2.013 million
Agents: Ben Bayley & Karl Price

54 Tidal Rd:
Features: 7315m² site, 3600m² building area, 5 tenants
Rent: $356,142/year net + gst
Outcome: no bid
Agents: Nick Bayley & Alex McNeil

Manukau Central

132 Cavendish Drive, unit A:
Features: 480m², leased to VTNZ until 2024, with renewals to 2030; units A, B & C have 32 parking spaces between them
Rent: $125,107.50/year net + gst
Outcome: sold for $2 million
Agents: Stuart Bode, Mike Bradshaw & Tony Chaudhary

132 Cavendish Drive, unit B:
Features: 340m², leased to Cooper Tyres until 2020, right of renewal to 2023
Rent:
Outcome: sold for $1.215 million
Agents: Stuart Bode, Mike Bradshaw & Tony Chaudhary

132 Cavendish Drive, unit C:
Features: 392m², leased to VTNZ until 2024, with renewals to 2030
Rent: $61,400/year net + gst
Outcome: sold for $1.101 million
Agents: Stuart Bode, Mike Bradshaw & Tony Chaudhary

132 Cavendish Drive, unit H:
Features: 282m² industrial unit
Rent: $46,500/year net + gst
Outcome: sold for $1.1 million
Agents: Stuart Bode, Mike Bradshaw & Tony Chaudhary

Papakura

5 Vernon St:
Features: 1012m² section zoned light industry, consent for 3 industrial units
Outcome: sole bid from vendor at $700,000, passed in
Agents: Dave Stanley & Piyush Kumar

Waiuku

30 Bowen St:
Features: 6660m² site in 6 titles, total floor area 765m² in various buildings, zoning allows up to 4 storeys
Rent: $96,720/year including gst
Outcome: auction postponed to 13 March
Agents: Virginia Zhou & Shane Snijder

Attribution: Auctions.

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14 of 36 intensive homes sell through auction

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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Updated: Wairau Valley car yard sells at over $2000/m² at Bayleys auction

Published 18 May 2017, updated 21 & 28 May 2017:
11 of the 21 commercial properties auctioned by Bayleys on Wednesday in its third Total Property portfolio for the year were sold under the hammer. 2 more have been sold post-auction – first, 100 Hinemoa St, Birkenhead, followed by 44 College Hill.

The first were sold, followed by a lull, but 2 of the most expensive offerings were well down the auction list.

One was a Wairau Valley car sales yard, set among a line of lowrise buildings jammed between the Northern Motorway & Wairau Rd on the North Shore, a stretch where the height limit is now 20m under the unitary plan.

The car yard was sold at $2365/m², which means it’s destined for multi-level development.

2 properties were sold for $4 million, both in Henderson. The first was a bank branch on Great North Rd, sold on a 5.5% yield, and the second, a Supercheap Auto outlet in the Lincoln North shopping centre, sold on a 5.3% yield.

CBD

Victoria Quarter

166 Hobson St:
Outcome: sold prior
Agents: Sarah Boles & Terry Kim
Story, 11 May 2017: 12 years after demolition order scrapped, Hobson St building sells

Isthmus east

Panmure

63 Queens Rd:
Features: 97m² retail unit on 2 levels occupied by Willow Hair Design, parking space
Rent: $24,000/year net + gst on new 3-year lease with 2 2-year renewals
Outcome: passed in
Agents: Ken Hu

Parnell

385 Parnell Rd, unit E:
Features: 54m², retail fully leased on month-to-month basis, 2 secure parking spaces
Rent: $32,760/year net + gst
Outcome: sold for $505,000
Agents: Andrew Wallace & Cameron Melhuish

Remuera

563 Remuera Rd:
Features: 144m² cafe, Upland Rd shopping village
Rent: $76,104/year net + gst
Outcome: sold for $1.6 million
Agents: Cameron Melhuish & Andrew Wallace

Isthmus west

Freemans Bay

42 College Hill:
Features: 511m² section, house with 124m² floor area, onsite parking
Rent: $44,500/year net + gst
Outcome: passed in at $1.5 million
Agents: James Were & Scott Kirk

Updated: 44 College Hill:
Features: 389m² section, house, onsite parking
Rent: $44,000/year net + gst
Outcome: passed in, sold post-auction for $1.5 million
Agents: James Were & Scott Kirk

Mt Roskill

74 Carr Rd:
Features: 835m² site, 697m² single-level building
Outcome: withdrawn from auction, changed to sale by deadline private treaty
Agents: Tony Chaudhary & Sunil Bhana

North

Kaikohe

39 Station Rd:
Features: 7199m² commercial property in 2 titles
Outcome: withdrawn from auction
Agents: John Greenwood & Paul Dixon

Warkworth

The Grange, 67 Auckland Rd, unit 11:
Features: 59m², Fish Nets fish & chips shop on 10-year lease in new retail development
Rent: $30,975/year net + gst
Outcome: passed in at $480,000
Agents: Matt Lee, Jan Hutcheson & James Chan

North-east

Albany

75 Corinthian Drive, unit L1:
Features: 197m² first-floor office, new 6-year lease in place with renewal rights, 5 parking spaces
Rent: $58,800/year net + gst + outgoings
Outcome: sold for $1.095 million
Agents: Jane Sims & Tonia Robertson

Birkenhead

Updated: 100 Hinemoa St:
Features: 757m² corner site, 421m² 2-storey building
Rent: $103,907/year net + gst from 6 tenancies
Outcome: passed in at $2.7 million, sold post-auction for $2.7 million
Agents: Simon Aldridge & David Huang

27-33 Mokoia Rd, units 4, 5 & 7:
Features: 59m² total, 3 strata units next to Highbury mall, tenants are a dry cleaner & kebab shop, third unit vacant
Agents for all 3: Michael Nees, Owen Ding & Oscar Kuang
Unit 4, vacant:
Outcome: passed in at $300,000
Unit 5, kebab shop:
Rent: $24,000/year net + gst, lease running to 2030
Outcome: passed in at $470,000
Unit 7, dry cleaners:
Rent: $18,942/year net + gst, lease 6 years from last October
Outcome: passed in at $300,000

225 Onewa Rd:
Features: cross-lease, 1/3 share in 913m², vacant ex-surgery, 5 parking spaces
Outcome: sold for $650,000
Agents: Michael Nees, Owen Ding & Oscar Kuang

Rosedale

7 Vega Place, unit E:
Features: 272m² industrial unit,
Rent: $52,000/year net + gst from established tenants on new leases
Outcome: sold for $980,000
Agents: James Kidd & Matt Mimmack

Silverdale

1 Polarity Rise, ground floor:
Features: 145m², 2 shops on 2 titles for sale as one
Rent: $61,966.70/year net + gst + opex
Outcome: passed in
Agents: Ashton Geissler, Eddie Zhong & Mustan Bagasra

Takapuna

424 Lake Rd:
Features: 3 tenancies
Rent: $61,950/year net + gst, rising to $63,383 in November,
Outcome: sold for $1.5 million
Agents: Michael Nees & David Huang

Wairau Valley

107 Wairau Rd:
Features: 1184m² site, 13-year-old car dealership Car7, 40m² office 
Rent: $63,600/year net + gst, redevelopment potential up to 20m height limit
Outcome: sold for $2.8 million at $2365/m²
Agents: Brian Caldwell & Ranjan Unka

North-west

Henderson

Lincoln North Shopping Centre, 192 Lincoln Rd, unit A1:
Features: 756m² retail unit, 7-year lease to Supercheap Auto from July 2016
Rent: $212,292.82/year net + gst
Outcome: sold for $4 million at a 5.3% yield
Agents: Matt Lee, Tony Chaudhary & James Chan

373 Great North Rd:
Features: 808m² corner site, 1240m² floor area, BNZ as tenant on lease to 2020 with further renewal rights, basement parking
Rent: $219,360/year net + gst + opex, rent review in December
Outcome: sold for $4 million
Agents: Mike Adams & Laurie Burt

South

East Tamaki

44D Andromeda Crescent:
Features: 400m² industrial unit – high stud, clearspan warehouse 300m², office/amenities 40m², mezzanine 60m²
Outcome: sold for $735,000
Agents: Nelson Raines

Mangere Bridge

19 Coronation Rd:
Features: 273m² town centre site, 160m² bank branch, seismic rating 67% of new building standard
Rent: $34,000/year net + gst
Outcome: sold for $973,000
Agents: Nicolas Ching & Beterly Pan

South of the Bombays

Hawke’s Bay

Napier, Onekawa

Deco City Motor Lodge, 308 Kennedy Rd:
Features: 2682m² site, 30 studios and 1- & 2-bedroom units, conference suite, manager’s quarters, freehold going concern, Qualmark 4.5 stars, in Host Accommodation Group, seismic rating 80% of new building standard
Outcome: no bid
Agents: Paul Dixon, Daniel Moffitt & Carolyn Hanson

Attribution: Company release.

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