There was competitive bidding on all five Auckland CBD apartments offered at this week's Ray White City Apartments auction, with three selling under the hammer and two being passed in for sale by negotiation.
Apartments suitable for owner occupiers continue to sell particularly well as more people consider inner city living as an alternative to the suburbs.
This week's highlight was a spacious apartment in the Beaumont complex opposite Victoria Park.
Several apartments in this complex have come up for sale recently and this one sold under the hammer for $935,000.
At the other end of the scale, a unit in the Volt building on Queen St fetched $240,000.
The full results are below:
1305/430 Queen St. The Volt building. A 40sq m, two bedroom, fully furnished unit rented at $400 a week. Sold for $240,000, giving a gross yield of 8.7%. Rates $1039 and body corporate levy $4007. According to QV.co.nz the property was previously sold for $202,000 in 2011.
806/85 Wakefield St. Tetra House. A fully furnished 45sq m, two bedroom unit with a 3sq m balcony under management contract to the Waldorf hotels group until February next year, providing rental income of $400 + GST a week. Rates $2537 and body corporate levy $4680. Passed in with a highest bid of $236,000. According to QV.co.nz the property previously sold for $351,540 in 2007.
2e/208 Hobson St. Hobson Heights building. A 57sq m four bedroom (1 double and 3 singles) unit. Vacant. Sold for $305,000. Rates $1055. Body corporate levy $5786. Rent appraised at $650 - $680 a week. According to QV.co.nz the property previously sold for $206,000 in 2008.
224/184 Symonds St. The Citta building. A 60sq m, 2 bedroom corner unit rented at $390 a week. Rates $1136, body corporate levy $3062. Passed in with a highest bid of $272,000. According to QV.co.nz the property previously sold for $247,500 in 2003.
2g/220 Victoria St. The Beaumont building. A 156sq m, 3 bedroom/2 bathroom unit with 2 car parks. Overlooking Victoria Park. Vacant. Sold for $935,000. Rates $2299. Body corporate levy $9739. According to QV.co.nz the property was previously sold for $390,000 in 2000.
3 Comments
"2g/220 Victoria St. The Beaumont building. A 156sq m, 3 bedroom/2 bathroom unit with 2 car parks. Overlooking Victoria Park. Vacant. Sold for $935,000. Rates $2299. Body corporate levy $9739. According to QV.co.nz the property was previously sold for $390,000 in 2000"
You will find that this is used to be on leased land, it's now on freehold..
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