Madison on the Square.

City apartments sell in $9-10,000/m² range at auction

An apartment on St Patrick’s Square (building pictured) and another at the top of the Auckland cbd, in Scotia Place, sold under the hammer at Ray White City Apartments’ auction yesterday. 3 others were passed in at an auction which attracted multiple bidders on 2 properties, none on another.

Assuming a 5% return on current parking price, the 1950s Madison on the Square apartment – across the square from the brand-new Park Residences – was priced at about $9750/m².

At the top of the hill, the Nova en Scotia apartment, with no parking, was priced at $9000/m².

CBD

Federal St

Madison on the Square, 37 Federal St, unit 3D:
Features: 44m², one bedroom, secure basement parking space
Outgoings: rates $1526/year including gst; body corp levy $4668/year
Income assessment: $435/week current, parking $60/week fixed until 23 August; apartment appraisal $500-600/week fully furnished
Outcome: sold for $491,500
Agent: Krister Samuel

Uptown

Volt, 430 Queen St, unit 1607:
Features: 72m², 3 bedrooms, 2 bathrooms, balcony, secure basement parking space
Outgoings: rates $1669/year including gst for apartment, parking $182/year; body corp levy $8383/year including hot & cold water
Income assessment: $650-700/week furnished
Outcome: passed in at $640,000
Agents: Judi & Michelle Yurak

Nova en Scotia, 18 Scotia Place, unit 7G:
Features: 50m², 2 bedrooms
Outgoings: rates $1396/year including gst; body corp levy $4049/year
Income assessment: $490/week current
Outcome: sold for $452,000
Agent: Bain Duigan

Isthmus east

Grafton

Bridgeside, 127 Grafton Rd, unit P1:
Features: 65m², one bedroom, 2 separate basement parking spaces, storage locker
Outgoings: rates $1519/year including gst; body corp levy $5478/year
Outcome: passed in at $535,000
Agents: Mitch Agnew & Ryan Bridgman

Isthmus west

Eden Terrace

Memphis, 4 Rendall Place, unit 4A:
Features: 66m², 2 bedrooms, 3 parking spaces, storage locker
Outgoings: rates $1454/year including gst; body corp levy $5488/year
Outcome: no bid
Agent: Anna Birkenhead

Attribution: Auction.

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