Tag Archives | apartments

Guardian & Keystone Ridge apartments sell

A studio in the Guardian on Queen St (pictured) and a unit in Keystone Ridge, at the far end of Dominion Rd, were sold at Ray White City Apartments’ auction today.

Leasehold units in Q Central & Scene 3 and a CityZone apartment were passed in.

Bidding was moderately strong on the freehold units. For Q Central there were 2 bids and for Scene 3, with the ground lease still under review, there were none.

CBD

Quay Park

Scene 3, 30 Beach Rd, unit 1007:
Features: leasehold, 45m², one bedroom, balcony, parking space
Outgoings: rates $1381/year including gst; body corp levy $4397/year including gst, ground rent $8759/year but under review – new ground rent will be backdated to review date 2 August 2018
Income assessment: current $565/week unfurnished, fixed until 28 April; appraisal $580-600/week furnished, $560-580/week unfurnished
Outcome: no bid
Agents: May Ma & Mark Li

Queen St

Guardian, 105 Queen St, unit 609:
Features: 32m² furnished studio, high stud, used for airBnB currently at over 90% occupancy
Outgoings: rates $1493/year including gst; body corp levy $3198/year including gst
Outcome: sold for $295,000
Agents: Mitch Agnew & Ryan Bridgman

Uptown

Q Central, 11B City Rd, unit 7D:
Features: leasehold, 62m², 2 levels, 2 bedrooms, tandem parking
Outgoings: rates $1604/year including gst; body corp levy $4221/year including gst, ground rent $9797/year fixed until December 2023, lease expires in 2086
Income assessment: $575/week ($510 for apartment, $65 for parking)
Outcome: passed in at $105,000
Agent: Josh Muriwai

CityZone, 11 Liverpool St, unit 1406:
Features: 44m², 2 bedrooms
Outgoings: rates $1265/year including gst; body corp levy $4094/year including gst
Income assessment: $500-520/week furnished
Outcome: passed in at $327,000
Agents: Susan Woods-Markwick & Liam Kyle

Isthmus west

Mt Roskill

Keystone Ridge, 3 Keystone Avenue, unit 2P:
Features: 48m², fully furnished 2 bedrooms, renovated, parking space
Outgoings: rates $1340/year including gst; body corp levy $5763/year including gst
Outcome: sold for $505,000
Agents: Mitch Agnew & Ryan Bridgman

Attribution: Auction.

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Symonds & Anzac Avenue apartments sell at auction

2 apartments on Symonds St (pictured) & Anzac Avenue, on the Auckland cbd’s eastern fringe, were sold at City Sales’ auction today.

An apartment in the Statesman was passed in after 2 bids and a cross-leased unit in Avondale didn’t attract a bid.

CBD

Learning Quarter

Century on Anzac, 100 Anzac Avenue, unit 1D:
Features: 34m², one bedroom, deck; building has remediation issues
Outgoings: rates $907/year including gst; body corp levy $2942/year including gst, building investigation & legal special levy $2511
Outcome: sold for $212,000
Agents: Grant Elliott & Tony Kelly

Statesman, 1 Parliament St, unit 508:
Features: 66m² + deck, 2 bedrooms, parking space
Outgoings: rates $2079/year including gst; body corp levy $5409/year including gst
Income assessment: $600/week current but sold with vacant possession
Outcome: passed in at $700,000
Agent: Scott Dunn

96 on Symonds, 96 Symonds St, unit 1503:
Features: 38m², 2 bedrooms, deck, out of management pool
Outgoings: rates $1323/year including gst; body corp levy $4855/year including gst
Outcome: sold for $362,500
Agent: Iona Rodrigues

Isthmus west

Avondale

19B Holly St:
Features: cross-lease, 1/3 share in 634m², renovated 3 bedrooms, 2 offstreet parking spaces
Outgoings: rates $2118/year including gst
Outcome: no bid; current owner bought the property in July for $510,000, down $40,000 from the post-auction asking price after this unit & No 19A were auctioned in June
Agents: Grant Elliott & Tony Kelly

Attribution: Auction.

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Emily apartment sells, vendor bids prompt value questions on others at auction

An apartment in the Emily, just off Customs St East in downtown Auckland, was sold at Ray White City Apartments’ auction today. 3 others were passed in and the auction of another was postponed a week.

The auction opened with no bid on the first property up, in Nugent Rise, Mt Eden, followed by an auctioneer’s vendor bid putting the value at close to $10,000/m².

The one unit that was sold, in the Emily, went for just under $7400/m². The grand old building (pictured above) was converted from a warehouse to apartments 45 years ago.

At the Amora apartments hotel, at the top of Vincent St, a vacant studio had a lot of price tags put on it this month. The one offer at auction was about $10,000/m² for the internal space, excluding parking, but it was back on the market post-auction at about $11,000/m² internal.

At Nugent Rise in Mt Eden, the auctioneer’s indicator worked out at about $9250/m² internal, or about $1000/m² less if the loggia (internal balcony) is counted as internal space.

All these price variables can occur for a lot of reasons – age, condition (especially remediation & its potential cost), the price of parking, and the gap between new stock & established buildings.

In the decline of the market after the global financial crisis 7-10 years ago, the slide in prices was across the board. At the moment, reasons for price movement are less clear – the availability of finance, exit of Asian buyers and uncertainty about international politics & economics are harder reasons to put precise counts on.

CBD

Learning Quarter

Emily Apartments, 22 Emily Place, unit 5D:
Features: 71m², 2 bedrooms, the building has remediation issues
Outgoings: rates $1711/year including gst; body corp levy $8523/year including gst
Outcome: sold for $525,000 at $7394/m²
Agent: Gillian Gibson

Uptown

Q Central, 11B City Rd, unit 7D:
Features: leasehold, 62m², 2-level 2-bedroom apartment, 2 parking spaces
Income assessment: $575/week current
Outcome: auction postponed to next Thursday, 6 December
Agent: Josh Muriwai

Amora, 100 Greys Avenue, unit 811 (8K):
Features: vacant 36m² studio + 3m² balcony, parking space
Outgoings: rates $1304/year including gst; body corp levy $6526/year including gst
Outcome: bid at $350,000, vendor bid at $400,000, passed in; the unit was bought by the vendor at the end of August for $390,000, was marketed this month with a price tag of $485,000 and was back on the market post-auction at $469,000
Agent: Damian Piggin

Isthmus west

Mt Eden

Mountview, 43 Mary St:
Features: 120m², 3-level 2-bedroom terrace, tandem parking; reclad completed in 2016 & new code compliance certificate issued
Outgoings: rates $2018/year including gst; body corp levy $2973/year including gst
Outcome: passed in at $670,000
Agent: Casey Chen

Nugent Rise, 6A Nugent St, unit 107:
Features: 67m² + 8m² loggia, one bedroom, study, parking space, storage locker
Outgoings: body corp levy $2932/year including gst, $195/year for parking
Outcome: no bid; vendor bid of $700,000 placed to indicate the minimum for a multi-offer backup sale process
Agent: Casey Chen

Attribution: Auction.

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Updated: Waldorf Celestion unit sells

Published & updated 29 November 2018:
A unit in the Waldorf Celestion apartment hotel (pictured) was sold at City Sales’ auction yesterday. 3 other apartments in the Metro on Wakefield St, the Sol in Eden Terrace and St Albans on Eden in Mt Eden were passed in. The Metro unit has now sold.

CBD

Learning Quarter

Waldorf Celestion apartment hotel, 19 Anzac Avenue, unit 901:
Features: 50m² + deck, 2 bedrooms, in hotel lease but can exit on 6 months’ notice
Outgoings: rates $6204/year including gst; body corp levy $3961/year including gst
Outcome: sold for $410,000
Agent: Maryanne Wong

Updated: Metro, 82 Wakefield St, unit 10E:
Features: 38m², one bedroom, deck, storage locker
Outgoings: rates $1226/year including gst; body corp levy $5449/year including gst
Outcome: passed in at $275,000; sold post-auction, price undisclosed
Agent: Iona Rodrigues

Isthmus west

Eden Terrace

Sol, 22 Fleet St, unit 3C:
Features: 75m², 2 bedrooms, 2 bathrooms, study, 2.7m stud height, balcony, pet-friendly, parking space
Outgoings: rates $2173/year including gst; body corp levy $3954/year including gst
Outcome: passed in at $850,000
Agent: Kerry Aitken

Mt Eden

St Albans on Eden, 433 Dominion Rd, unit 505 (second floor):
Features: 51m², one bedroom, balcony, parking space
Outgoings: rates $1805/year including gst
Income assessment: $480-500/week
Outcome: passed in at $560,000
Agent: Chris Ediker

Attribution: Auction.

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Met & Eclipse apartments sell

An apartment in the newly remediated Met building between Queen & High Sts, in the centre of the cbd, and one in the Eclipse at the top of Vincent St sold at Bayleys’ residential auction yesterday. The Met unit went for $9420/m².

A Fiore 2 apartment and a cross-leased townhouse in St Heliers were passed in.

CBD

High St

The Met, 11 Durham St East, unit 2K:

Features: 69m², 2 bedrooms, high stud, new code compliance certificate just issued
Outgoings: rates $1963/year including gst; body corp levy $3550/year including gst
Outcome: sold for $650,000
Agents: Habeeb Urrahman & Chris Cairns

Uptown

Eclipse, 156 Vincent St, unit 12L:
Features: 2 bedrooms, balcony, parking space
Outgoings: rates $1827/year including gst; body corp levy $2999/year including gst
Outcome: sold for $625,000
Agents: Chris Bell & Lucy Piatov

Victoria Quarter

Fiore 2, 168 Hobson St, unit 801:
Features: 53m², one bedroom
Outgoings: rates $1498/year including gst; body corp levy $2999/year including gst
Outcome: passed in at $450,000, back on the market at $519,000
Agents: Chris Bell & Lucy Piatov

Isthmus east

St Heliers

16 Hampton Drive, unit A:
Features: cross-lease, ¼ share in 1239m², 3-bedroom townhouse, 2 bathrooms, double internal-access garage
Outcome: no bid
Agents: Blair Haddow & Jono King

Attribution: Auction.

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QVB apartment sells

One apartment in the QVB building at the corner of Queen & Victoria Sts sold and one at the top of the cbd was passed in at Ray White City Apartments’ auction today.

CBD

Queen St

QVB, 6 Victoria St East, unit 3F:
Features: 63m², fully furnished one bedroom
Outgoings: rates $1595/year including gst; body corp levy $4820/year including gst
Income assessment: $470-500/week furnished
Outcome: sold for $450,000
Agents: Mitch Agnew & Ryan Bridgman

Uptown

Uptown, 14 Upper Queen St, unit 6G:
Features: vacant 40m² + 10m² balcony, one bedroom, parking space
Outgoings: rates $1440/year including gst; body corp levy $3400/year including gst
Income assessment: $530-580/week
Outcome: no bid
Agent: Gillian Gibson

Attribution: Auction.

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Studio pushes to new price level in resale as buyers put pressure on other reserves

3 of the 9 apartments auctioned at Ray White City Apartments yesterday – in 96 on Symonds, the Sapphire & Siena Terraces – were sold under the hammer.

Bidding on the studio in 96 on Symonds (pictured above) ended $31,000 above the price the owner paid at auction just 5 months ago. A number of other traders expressed surprise at the $12,056/m² price paid in June, although units smaller than the minimum that can be built these days often command higher price tags for their superior anticipated cashflow. This sale lifts the price/m² to $13,778.

Bidding on 2 units in the leasehold Landings complex beside the old Auckland railway station, and in the Manhattan on Albert St, fell about $20-30,000 short of adjusted reserves yesterday.

CBD

Albert St

Manhattan, 105 Albert St, unit 5C:
Features: 80m², 2 bedrooms,
Outgoings: rates $1749/year including gst; body corp levy $5122/year including gst
Income assessment: $560/week, fixed unril 12 December
Outcome: passed in at $571,000
Agents: Ron Yang & Adam Gurr

Learning Quarter

96 on Symonds, 96 Symonds St, unit 1004:
Features: 18m² refurbished studio
Outgoings: rates $975/year including gst; body corp levy $2453/year including gst
Income assessment: $370-390/week
Outcome: bought for $217,000 at auction in June, sold this time for $248,000
Agents: Dominic Worthington & Ady Huang

Sapphire, 76 Wakefield St, unit 810:
Features: 53m² + 6m² balcony, 2 bedrooms,
Outgoings: rates $1478/year including gst; body corp levy $4061/year including gst after 10% prompt payment discount
Income assessment: $500/week
Outcome: sold at pre-auction offer of $485,000
Agent: Lucia Gao

Quay Park

The Landings, 8 Ronayne St, unit 810:
Features: 71m², 3 bedrooms, 2 bathrooms, parking space; building has new code compliance certificate after remediation
Outgoings: rates $1633/year including gst; body corp levy $5548/year opex including gst, ground rent $7976/year
Income assessment: $680/week, fixed until March 2019
Outcome: passed in at $270,000
Agents: Dominic Worthington & Ady Huang

The Landings, 10 Ronayne St, unit 415:
Features: 47m² + 8m² balcony, 2 bedrooms, parking space
Outgoings: rates $1323/year including gst; body corp levy $3118/year opex including gst, ground rent $4482/year
Income assessment: $500/week, fixed until August 2019
Outcome: passed in at $204,000
Agents: Mitch Agnew & Ryan Bridgman

Uptown

SkyView, 7 Scotia Place, unit 8C:
Features: 71m², new 2 bedrooms, parking space
Outgoings: rates $1904/year including gst; estimated body corp levy $4399/year including gst
Income assessment: $750-800/week furnished
Outcome: passed in at $600,000
Agents: May Ma & Mark Li

Bianco off Queen, 2 White St, unit 12B:
Features: 57m², one bedroom, under hotel management, building has remediation issues
Outgoings: rates $6571/year including gst; body corp levy $2216/year opex including gst + special levy $5192
Income assessment: $800/week
Outcome: passed in on sole bid of $60,000
Agents: Ron Yang & Adam Gurr

Victoria Quarter

Altitude, 34 Kingston St, unit 5L:
Features: 27m², one bedroom
Outgoings: rates $1013/year including gst; body corp levy to be confirmed
Income assessment: $340/week
Outcome: passed in at $205,000
Agent: Damian Piggin

Ascent, 149 Nelson St, unit 303:
Features: one bedroom
Outcome: withdrawn from auction
Agent: Damian Piggin

Isthmus west

Grey Lynn

Siena Terraces, 6 Burgoyne St, unit 2N:
Features: 51m², one bedroom, balcony, tandem parking spaces
Outgoings: rates $1321/year including gst; body corp levy $3769/year including gst
Outcome: sold for $490,000
Agents: Judi & Michelle Yurak

Attribution: Auction.

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Kohi townhouse sells at auction

A large Kohimarama townhouse (pictured), one back from Tamaki Drive, sold at Bayleys’ Remuera branch auction today, but the only bid for a Parnell studio was from the vendor and a unit in the new St Marks apartment block in Remuera attracted no bid.

Isthmus east

Eastern bays – Kohimarama

20A Eltham Rd:
Features: 259m² site, 229m² floor area, 3-level 3-bedroom townhouse, 2 living rooms, 3 bathrooms, 2 parking spaces, balcony, patio, roof garden, self-contained living at entry level giving guests independence
Outgoings: rates $5239/year including gst; no body corp fees
Outcome: sold for $2.715 million
Agents: Gary & Vicki Wallace

Parnell

258 Parnell Rd, unit 43:
Features: studio, parking space
Outcome: passed in after sole bid from vendor at $550,000
Agent: Trisha Vincent

10 Ruskin St, unit 3C:
Features: 2-level penthouse, 3 bedrooms, 2 bathrooms, balconies, 2 basement parking spaces
Outcome: auction postponed
Agent: Jiali Liu

Remuera

St Marks, 10 St Marks Rd, unit MAC 101:
Features: 3 bedrooms, 2 bathrooms, 2.9m stud, 2 basement parking spaces
Outcome: no bid
Agents: Karen Spires & Trisha Vincent

Attribution: Auction documents.

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Perspective apartment sells post-auction

An apartment in Perspective on College Hill (pictured above) was sold shortly after today’s auction at City Sales. 3 other units – one cross-leased, one on Ngati Whatua leasehold and an apartment in the 2-year-old Urba off Karangahape Rd – were all passed in.

CBD

Learning Quarter

Century on Anzac, 100 Anzac Avenue:
Features: 2 bedrooms, 2 bathrooms, parking space
Outcome: auction postponed
Agents: Grant Elliott & Tony Kelly

Quay Park

30 Cotesmore Way:
Features: 115m², 3 bedrooms, 2 bathrooms, deck, tandem garage; code compliance certificate issued in 2015 after complete reclad & roof reconstruction
Outgoings: rates $2195/year including gst; body corp operational levy $3224/year including gst, ground lease $17,500/year, new Ngati Whatua o Orakei Trust ground lease will date from 2 August but hasn’t been agreed yet
Income assessment: $775/week
Outcome: no bid
Agents: Maryanne Wong & Scott Dunn

Uptown

Urba, 5 Howe St, unit 615:
Features: 42m², one bedroom + flexi-room, deck
Outgoings: rates $1398/year including gst; body corp levy $3933/year including gst
Income assessment: $490/week, fixed until May 2019
Outcome: passed in at $300,000
Agents: Trisha Shanaghan & Gus Argyle

Isthmus west

College Hill

Perspective, 28 College Hill, unit 425:
Features: 140m², 2 bedrooms, 2 bathrooms, deck, 2 parking spaces, storage locker
Outgoings: rates $3123/year including gst; body corp levy $11,040/year including gst
Outcome: passed in at $1.3 million, sold post-auction, price undisclosed
Agent: Scott Dunn

Mt Eden

Grange Hall, 492 Mt Eden Rd, unit 3:
Features: cross-lease, 1/7 share in 1039m², 70m² unit, 2 bedrooms, garage with workspace, offstreet parking
Outgoings: rates $2207/year including gst
Outcome: passed in at $710,000
Agents: Grant Elliott & Tony Kelly

Attribution: Auction.

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2 city apartments sell at auction

2 units were sold at Ray White City Apartments auction today, and an Onehunga townhouse was passed in.

In a market where vendors have been under pressure to meet a generally lower bidding range, the reserve on a CityZone apartment was dropped to $300,000 (about $7800/m² internal), and then dropped another $5000. In the ensuing bidding frenzy, a sale at $300,500 resulted.

A studio in Oakwood Hall on Wakefield St (pictured) sold at $8000/m² internal, so both sales were in what seems the acceptable range at the moment for good secondary stock. For comparison, a 29m² Oakwood Hall studio sold at auction in June last year for $283,000, so about $9800/m², at a time when prices for older apartments were still rising to fill the gap of about $5000/m² between them & brand-new apartments.

CBD

Learning Quarter

Oakwood Hall, 81 Wakefield St, unit 9C:
Features: 30m² studio, 6m² balcony
Outgoings: rates $1110/year including gst; body corp levy $5261/year including gst
Income assessment: $430/week
Outcome: sold for $240,000
Agents: Damian Piggin & Krister Samuel

Uptown

CityZone, 11 Liverpool St, unit 1912:
Features: 40m² including 1.5m² balcony, 2 bedrooms
Outgoings: rates $1246/year including gst; body corp levy $4319/year including gst
Income assessment: $500/week, fixed until 15 February
Outcome: sold for $300,500
Agents: Damian Piggin & Krister Samuel

Isthmus east

Onehunga

36A Hill Rd
Features: cross-leased, 157m², refurbished 2-storey 3-bedroom townhouse, double internal-access garage
Outgoings: rates $2517/year including gst; body corp levy $/year including gst
Income assessment: $730-780/week unfurnished
Outcome: passed in at $910,000
Agent: Adam Gurr

Attribution: Auction.

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