Leasehold apartments and one in a leaky building sold particularly well at the latest Auckland apartment auctions

A leasehold unit in The Docks building, which has water penetration issues, sold for $121,000.

There was a good selection on offer at this week’s main Auckland apartment auctions with 41% selling under the hammer.

City Sales had a small but perfectly formed offering of three units, being two leasehold apartments in the downtown CBD and a studio unit at New Lynn.

There were multiple bidders on both of the leasehold units and they sold under the hammer. But there were no bids for the New Lynn unit, which was passed in for sale by negotiation.

Barfoot & Thompson had six apartments on offer at its auction, with several of them being larger units that would appeal to owner-occupiers.

There were multiple bidders for three of the units, two of them received just a single bid and one received no bids at all. Only one of the apartments, a 63 square metre, one bedroom unit in the City Life building on Queen Street, was sold under the hammer, with the rest passed in for sale by negotiation.

At Ray White City Apartments eight units were scheduled to be offered, one was withdrawn from sale, three were sold under the hammer and four were passed in.

There was particularly strong bidding for a leasehold unit in The Docks building, which is at the beginning of a remediation process for water penetration issues. Several bidders saw an opportunity to buy at a good prices and it sold for $121,000.

Unusually, three units in the Spencer on Byron at Takapuna had been marketed for sale at the same auction, one of which was withdrawn from sale and the other two received a single bid each and both were passed in.

The full results from all three auctions, with the prices achieved on the units that sold, are available on our Residential Auction Results page

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