Auction action: the latest apartment and commercial property auction results from Barfoot & Thompson and Ray White City Apartments

The auction rooms are back in full swing and investors had plenty to choose form at apartment and commercial property auctions held by Barfoot & Thompson and Ray White City Apartments this week.

Of the four apartments Barfoots were to auction this week one was withdrawn from sale and the other three sold under the hammer. 

At their commercial property auction later the same day, one was sold prior, two sold under the hammer and three were passed in.

At the Ray White City Apartments auction a leasehold commercial unit in the Scene One apartment building on Beach Rd sold for $49,000 and of the four apartments put on the block two sold under the hammer and two were passed in.

Both of those that were passed in were quick flicks of apartments that had been purchased late last year.

See below for the full results: 

Barfoot & Thompson Apartment Auction:

• 2A/10 Hobson St. Hobson Quay building. An 80 square metre, two bedroom unit with a car park and balcony. Vacant. According to QV.co.nz the apartment had been purchased for $420,000 in 2010. There were multiple bidders and it sold under the hammer for $702,000. The agent was Bret Glazer.
• 12B/15 Mount St. A 54 square metre, two bedroom unit. Vacant. There were multiple bidders and it sold under the hammer for $595,000.The agents were Leo and Stephen Shin.
• 1710/26 Albert St. Withdrawn from sale. 
• 705/145 Symonds St. A one bedroom unit with harbour view and a car park. Vacant. There were multiple bidders and it sold under the hammer for $450,000. According to QV.co.nz the unit was originally purchased for $479,000 in 2007 and resold for $245,000 in 2012. The agent was Raymond Zhang.

Barfoot & Thompson Commercial Property Auction:

• 367 Church St, Penrose. An older, standalone warehouse/workshop with office and parking at the front on an 816 square metre site, zoned B6.. Vacant. Multiple bidders. Sold under the hammer for $1.1 million. The agents were Brennan Wyllie and James Marshall.
• 15E Mercari Way, Albany. A 116 square metre retail unit returning $52,000 pa net. There was only one bidder and it was passed in at $800,000. The agent was Nick Brown.
• 8 Andromeda Cres, East Tamaki. A modern warehouse/office on a 2312 square metre site. Vacant. Multiple bidders. Passed in at $2.01 million. The agent was Paul Vermaak.
• 28E Lambie Drive, Manukau. A 567 square metre light industrial unit with a 440 square metre warehouse/showroom on the ground floor and 127 square metre office upstairs. Existing tenant's lease has two year to run and currently provides gross rent of $65,200 a year. Multiple bidders. Sold under the hammer for $1.04 million. The agents were David Mayson and Jesh Jaskiewicz.
• 1A/155 Queen St, CBD.A ground floor retail unit on the corner of Queen and Wyndham Streets. Leased to NZ Post/Kiwibank, Spark and a cafe, providing net income of $406,310 pa net. The auctioneer asked for an opening bid of $5 million but the only bid received was for $4 million which was not accepted and the property was passed in.  The agents were Rohan Cooke and Dickie Nam.
• 4M/6 Victoria East, CBD. Sold Prior. The agents were Wendy Feng and Jack Li.

Ray White City Apartments auction:

• 5/2 Beach Rd, CBD. Scene One building.  A 60 square metre commercial unit divided into three medical consulting rooms plus two car parks, in the Scene One apartment building. Leasehold. Vacant. There was only one bid for the property and it sold under the hammer for $49,000. Ground rent is $5977 and operating expenses $2946. The agent was Dominic Worthington.
• 808/1 Courthouse Lane. Metropolis building. A 44 square metre, one bedroom, fully furnished unit. Rented at $450 a week.There were multiple bidders and it sold under the hammer for $415,000. Rates were $1175 and the body corporate levy $3886. According to QV.co.nz the unit had been purchased for $207,500 in 2006. The agents were Damian Piggin and Daniel Horrobin.
• 7D/9 Victoria St East. Lister building. A 40 square metre, two bedroom unit in a character building. Vacant. There was an opening bid of $300,000 and when there were no further bids the auctioneer made a vendor bid of $350,000 and it was passed in. According to QV.co.nz the unit had been purchased for $332,000 in November last year. The agents were Judi and Michelle Yurak.
• 1G/1 Ophir St. One on Ophir building. A 65 square metre, three bedroom (two double, one single) unit with a car park and a large patio area. Vacant. Although there were multiple bidders it was passed in with a highest bid of $620,000. According to QV.co.nz the unit had been purchased in December last year for $585,000. The agents were Judi and Michelle Yurak.
• 1816/10 Waterloo Cres. Quadrant building. A 22 square metre, furnished studio with a balcony and car park. The unit was rented at $370 a week and the car park at $50 a week. There were multiple bidders and it sold under the hammer for $337,000. Rates were $1789 and the body corporate levy $4207. According to QV.co.nz it had been purchased for $271,500 in 2013. The agents were May Ma and Mark Li.