There was particularly strong bidding on the larger apartments that could appeal to owner-occupiers at this week's Auckland apartment auction conducted by City Sales, although investors were also active and looking for deals.
However leasehold units continue to struggle and a large 75 square metre unit on a leasehold title in the Hudson Brown building between Britomart and Parnell, attracted multiple bids but was passed in with a top bid of $200,000, even though it was originally purchased for $530,000 in 2006.
The full results of the auction are below:
3f/18 Wakefield St. The Wakefield building. A 56sq m one bedroom apartment with a car park. The size of this apartment and the fact it had a car park meant it could appeal to owner occupiers as well as investors, however it was also in a tired condition and would have benefited from a makeover. There were several bidders for this property and it eventually sold under the hammer for $368,000. Vacant. Rates were $1039 and the body corporate levy $2402. It is understood the buyer intends to live in it. No sales history was available. The agent was Sherryl Todd.
6L/6 Victoria St East. The Whitcoulls building. A 63sq m one bedroom unit with mezzanine study. The unit's location in a character building on the corner of Queen and Victoria Streets and features such as its high stud could also have appealed to owner-occupiers but it was understood to have been purchased by an investor. There was strong bidding on this unit and it sold under the hammer for $371,500. Vacant. Rates were $1282 and the body corporate levy $5325. The unit was said to be in very good condition. According to QV.co.nz the unit was previously sold for $287,000 in 2006. The agent was Lucy Piatov.
107/105 Queen St. Guardian Apartments. A 30sq m one bedroom apartment that was offered fully furnished, this was mainstream investor territory. It sold under the hammer for $173,000. Vacant. Rates were $1038 and the body corporate levy $2937. According to QV.co.nz it was previously sold for $142,000 in 2009. The agent was Lucy Piatov.
3/27 Cheshire St, Parnell. Aero Apartments. This was a studio unit but at 40sq m one of the larger ones around. Some shoe box buildings in the CBD would squeeze a two bedroom unit into less than 40sq m. And this one came with a car park as well. Vacant. Passed in with highest bid of $285,000. According to QV.co.nz it was previously sold for $185,000 in 2005. The agent was Sherryl Todd.
105/57 Mahuhu Crescent. Hudson Brown building. A 75sq m unit with two bedrooms, two bathrooms, a car park and two outdoor courtyards. Leasehold. Rates $1508 and the body corporate levy $9263. Vacant. The ground rent on the complex is fixed until August 2018. It was passed in with a highest bid of $200,000. According to QV.co.nz the unit was originally purchased for $530,000 in 2006 and resold for $220,000 in 2009. The agent was Tony Kelly.
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