Auckland Apartment Auctions - Everything Passed in

No sign of spring at this week's main Auckland apartment auctions - everything was passed in

 

The Westmount building on Upper Queen St.

 

 

Spring may have been in the air outside but there was no sign of a spring in the bidding at this week's main Auckland apartment auctions, where all of the apartments offered were passed in.

The first of the three apartments on offer at Barfoot & Thompson's regular apartment auction was a large (79 square metre) one bedroom apartment with a spacious balcony and harbour views in the Quay West building at the bottom of Albert Street.

There was just one bidder for this property who opened the bidding at $620,000, and when no further bids were received the auctioneer conducted extensive phone negotiations with the potential buyer and vendor, neither of whom was in the room.

Although the potential purchaser increased his bid to $695,000, it was not enough to get a deal across the line. And with no one else bidding it was passed in for sale by negotiation.

There were no bids on either of the next two apartments offered, one in the Fiore Two building on Hobson Street and the other in the Darlinghurst building on Eden Crescent. Both were passed in.

Up at Ray White City Apartments' weekly auction just one apartment was on offer, an 89 square metre, two bedroom/two bathroom unit with a car park in the Westmount building, just a few metres from Karangahape Road, on the corner of Upper Queen Street and Canada Street.

 

The building is facing extensive remediation work for weathertightness issues and whoever buys will have to pay a special levy of $263,443 as their share of the cost of that work, which is due to be paid by 29 September.

There were two bidders for the property but it was passed in with a top bid of $201,000.

According to QV.co.nz the apartment was purchased in June last year for $355,000.

You can check out the results of auctions held throughout the country on our Residential Auction Results page.