9 apartments, townhouses & suburban residential units, plus a likely Remuera development site, were sold under the hammer at Barfoot & Thompson’s auctions on Wednesday.
Unlike the apartment specialists, which will auction a handful of apartments – mostly in the cbd or on its fringe – once/week or fortnightly, the Barfoot & Thompson auction business is industrial strength by comparison.
It has less concentration on central isthmus apartments, though, and the agency slots suburban townhouses & units in among the houses it sells through 2 auction rooms operating side by side.
Unfortunately, without quizzing every agent, the information available is limited.
That’s particularly relevant for a property such as the unit in Scene 1, which was sold on Wednesday. The building is on a Ngati Whatua lease, and also has remediation work to be done, which has resulted in a flurry of units in this building on to the market through all agencies.
One unit in Scene 1 was sold and another passed in at Ray White City Apartments’ auction on Thursday, while the Scene 1 unit offered at Bayleys on Wednesday attracted no bid. In all cases, the usual pre-contract disclosure statement wasn’t readily available.
The other factor about many suburban residential properties is that redevelopment is often an option, making land price an important element in some sales. I’ve included a Mt Albert property with 3 units on a large site and an ex-state house in Remuera – one passed in and the other sold – for a comparison of land values. Even then, you need to be cautious because the section sizes are quite different, offering different redevelopment options.
207 Federal St, unit 1005:
Features: 2 bedrooms, secure lockup parking space
Outcome: sold for $450,000
Agents: Stephen Shin & Leo Shin
24-26 Anzac Avenue, unit D:
Features: 3 bedrooms
Outcome: no bid
Agents: Liz Derbyshire & Tony Qiao
Scene 1, 2 Beach Rd, unit 607:
Features: leasehold, 2 bedrooms, large balcony, secure parking space, storage locker
Outcome: sold for $140,000
Agents: Livia Li
Glendowie, 4 Sierra St, unit 2:
Features: 2 bedrooms
Outcome: sold for $550,000
Agents: Lynette Boyd
Kohimarama, 277 Tamaki Drive, unit 1:
Features: 2 bedrooms, private patio, double garage
Outcome: sold for $1.6 million
Agents: Karin Cooper
St Heliers, 163A St Heliers Bay Rd, unit 3:
Features: bedrooms, modernised 2 bedrooms, large deck
Outcome: sold for $710,000
Agents: Kelly Midwood
39 Spencer St:
Features: 2 bedrooms, ex-state house on elevated 683m² section
Outcome: sold for $1.96 million at $2870/m² of land
Agents: George Fong & Amy Xiong
Mt Wellington, 115 Ireland Rd, unit 1:
Features: 2 bedrooms, conservatory, deck
Outcome: sold for $535,000
Agents: Margaret Johnston & Phyllis Brooks
15, 15A & 15B Fontenoy St:
Features: 3 units on a 1146m² section
Outcome: passed in at $1.5 million at $1309/m² land price
Agents: Kevin He
7 Norrie Avenue, unit 2:
Features: 2 bedrooms, balcony secure courtyard
Outcome: sold for $670,000
Agents: Susan Murdock & John Hight
31 Day St, unit 4C:
Features: one bedroom
Outcome: sold for $319,000
Agents: Rick Thevenard & Leonie Stabler
St Marys Bay
18 Shelly Beach Rd, unit 2:
Features: 2 bedrooms, courtyard, carport
Outcome: sold for $700,000
Agents: André Boddé & Luke Dallow
Image above: Scene 1, between the Lumley Centre and the waterfront.