Very strong bidding at the latest apartment auction and Colliers sells a string of commercial properties priced from $1.16m to $9.057m

There was only a small offering of apartments at this week's auction by Ray White City Apartments in Auckland, but competition for the three apartments on offer was intense and at times the bidding was almost frenzied.

The most competitive bidding was a for a 60 square metre, two bedroom unit in the Madison building which fronts onto St Patrick's Square.

It came with a car park and looked directly over St Patrick's Cathedral.

Bidding on the unit opened at $500,000 and at times several potential buyers were trying to make bids at the same time. Eventually the property was sold under the hammer for $714,000.

The other two apartments on offer at the same auction also sold under the hammer after strongly competitive bidding.

And Colliers International has sold a string of commercial properties ranging from an office/warehouse on the North Shore which sold for $1.16 million, to a block of retail units in Albany which sold at auction for $9.057 million.

See the results below: 

Auction at Ray White City Apartments on May 12:

• 6A/37 Federal St. Madison on Square building. A 60 square metre, two bedroom unit with a car park, overlooking St Patrick's Cathedral. Vacant. Sold for $714,000. Rates were $1693 and the body corporate levy $5256. The agent was Krister Samuel.
• H/6 Scotia Place. A 155 square metre, two bedroom, modern terrace house on four levels with a garage. The building has suffered from defects which were originally the subject of a weathertightness claim which is no longer being pursued.  Rented at $480 a week. Sold for $525,000. Rates were $1892 and the body corporate levy $3060. The agents were May Ma and Mark Li.
• 1216/10 Waterloo Quadrant. The Quadrant building. A 22 square metre, furnished studio. Rented at $380 a week. Sold for $266,000.  Rates were $1084 and the body corporate levy $2834. The agent was Aileen Wu.

Recent commercial property sales by Colliers International:

• 33,35 & 41 Matakana Valley Rd, Matakana. A 3369 square metre, mixed use site on three titles, each with a dwelling on it. Sold for $2.1 million. The agents were Jonathan Lynch of Colliers and Richard Parkinson of NAI Harcourts.
• 15 Inlet Rd, Takanini, south Auckland. A 3433 square metre showroom/warehouse on a 7701 square metre, mixed use site. Sold for $3.375 million. The agents were Paul Jarvie and Andrew Hooper.
• 252 Oteha Valley Rd, Albany, North Shore. A block of eight retail units ranging in size from 76-252 square metres. Sold at auction for $9.057 million. The agents were Shoneet Chand and Matt Prentice.
• Unit 5, 9 Orbit Drive, Mairangi Bay, North Shore. A 540 square metre office warehouse. Sold for $1.16 million, achieving a yield of 5.1%. The agents were Mike Ryan and Euan Stratton.
• 404 Great North Rd, Henderson, Waitakere. A 1268 square metre, two story commercial building. Sold for $1.8 million. The agents were Michael Bray and Craig Smith.

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