City Sales sold six out of seven apartments at auction; Colliers sells range of commercial properties with yields as low as 4.7%

City Sales sold six of the seven apartments offered at their latest auction under the hammer, with just one passed in for sale by negotiation.

Among the sales was a 177 square metre three bedroom apartment with thee bathrooms near Sky City which sold for $1.01 million.

Unusually a 75 square metre apartment in popular Grey Lynn attracted no bids and was the only property that didn't sell on the day.

On the commercial property front Colliers has recently completed transactions on five commercial properties, ranging from a large warehouse/office at Silverdale that sold at auction for $3.125 million providing a yield of 4.7%, to a vacant retail/office unit at dairy flat which went for  $495,000.

See below for the full results from both Colliers and City Sales:

Results of Auckland apartment auction at City Sales, 6 April: 

• 10B/50 Eden Crescent. Darlinghurst building. An 86 square metre, two bedroom/two bathroom unit with a car park and three balconies. Vacant. Sold for $725,000. The agents were Habeeb Urrahman and Steve Kirk. 
• 318/70 Nelson St. Zest building. A 36 square metre, two bedroom unit with a balcony. Vacant. Sold for $275,000. The agents were Lucy Piatov and Chris Bell. 
• 4B/92 Nelson St. Regatta Court building. A 42 square metre, one bedroom unit, with a balcony and car park. Vacant. Sold for $401,000. The agent was Tony Kelly.
• 14D/117 Victoria St West. The Peaks building. A 117 square metre, three bedroom/three bathroom, furnished penthouse with a large balcony. Vacant. Sold for $1.01 million. The agents were Iona Rodrigues and Jacob Hayward.
• 3C/31 Scanlan St. The Mezzanine building. A 75 square metre, two bedroom plus study unit with two bathrooms and a double (tandem) car park. Vacant. When there were no bids on the property the auctioneer made a vendor bid of $680,000 and when there were no further bids it was passed in. The agents were Lucy Piatov and Chris Bell.
• 111/421 Queen St. Kiwi on Queen building. A 41 square metre, one bedroom unit with no balcony or car park. Leased to Housing NZ and returning $1260 net a month. Sold for $212,500. The agent was Maggie Sun.
• 622/149 Nelson St. Ascent building. A 53 square metre, two bedroom unit with a car park. Vacant. Sold for $390,000. The agents were Lucy Piatov and Chris Bell.

Recent commercial property sales by Colliers international:

Sold at auction:

Other recent sales by Colliers International:

• 164-174 Khyber pass Rd, Grafton, Auckland. A 668 square metre, refurbished, two level office/warehouse. Sold for $4.8 million providing a yield of 5.4%. The agents were Kris Ongley, Jono Lynch and Shoneet Chand.

• 30 Victoria Rd, Devonport. An 851 square metre, three level, mixed use building. Sold for $3.8 million providing a yield of 4.7%. The agents were Matt Prentice, Euan Stratton and Shoneet Chand.

• 38B William Pickering Drive, Albany. A 212 square metre retail showroom/industrial unit. Sold for $735,000 providing a yield of 5.44%. The agents were Janet Marshall and Mike Ryan.

• B4/210 Dairy Flat. A 90 square metre, vacant unit in a retail/office complex. Sold for $495,000. The agents were Janet Marshall and Ellie Martin.

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