A multi-million-dollar luxury apartment linked to high-profile property investor Nikki Connors is on the market for the bargain price of $1.55 million.
The two-bedroom pad at 204/27 Grace Street, in Auckland’s upmarket suburb of Ōrākei, is listed as a mortgagee sale and its fate appears to be up in the air.
The property is in the prestige Satori Residences and has a 2021 CV of $2.15m. According to OneRoof records, it last sold in 2020 for $1.995m. The $1.55m price tag is substantially below other recent sales in the block.
In the last four months, 204/27 Grace Street has hit the market three times, with questions over ownership still unresolved.
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The property first went on the market as a mortgagee sale in June. At the time Connors told OneRoof that the bank had taken action because of issues with another trustee attached to the property. She said she had signed a sale and purchase agreement with a buyer for $2.25m but the bank had refused to cancel the mortgagee auction.
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However, the auction was cancelled at the last minute, with the listing agents notifying the public that the property had been withdrawn from sale. The apartment was then relisted in July with a different agency and a new vendor.
Bayleys agent Andrew Wallace told OneRoof their client had purchased the apartment from Connors for an undisclosed amount and was now looking to sell. “Vendor’s instructions are clear – this will be sold,” their listing declared.
Wallace told OneRoof that the vendor was not related to Connors or anyone else in the apartment block, but confirmed they had given Connors leave to stay at the apartment.
Nikki Connors is New Zealand's self-titled queen of property. Photo / Supplied
The bedrooms are stylishly dressed. Photo / Supplied
The apartment was due to be sold at auction at the start of August but the agents and the vendor switched tactics and listed it as a deadline sale, closing August 28. However, the listing was withdrawn on August 24 and relisted with a new agency as a mortgagee tender, closing on September 19.
OneRoof understands the purchase by Wallace’s vendor had fallen through, although the agent declined to comment on the listing’s reappearance as a mortgagee sale.
However, he did say that the apartment was still in good condition. “It’s a great opportunity for someone looking to go in and tidy it up,” he said.
The apartment is located in Auckland's upmarket Ōrākei. Photo / Supplied
The listing at the end of last week had an asking price of $1.55m. Last month OneRoof reached out to Connors and listing agent Philip Davis for comment. Neither replied.
Connors told OneRoof in June that the property had been listed as a mortgagee sale because of issues related to the property’s title. “I couldn’t do anything until the trustee was removed [from the title]. I’m now the sole trustee and I’m going ahead and doing what I was wanting to do 12 months ago,” she said.
“When we told the [bank] this and we sent them all of the documentation, they refused to halt the advertising.
“I sent the info to the [bank] to say this is what is now happening and now I can make decisions on behalf of the trust and we have this purchaser and they know who the purchaser is and their ability to purchase the property. And they still refused. It’s been sold at valuation, which is $2.25m. Why would they want to impact on that?”
BusinessDesk reported in May that Connors was facing an asset-freezing order, after she gave up her bid for name suppression.
Connors describes herself as an author, mentor, property guru, media personality, and financial adviser.
Her Facebook page is titled “Nikki Connors Property Queen”. She said for 15 years her company, Propellor Property Investments, has helped many Kiwis become millionaires.
Propellor Property largely sells new-build residential properties to investors, after providing them with financial and investment advice. Connors offers free workshops to potential investors and has several upcoming events planned.
- 204/27 Grace Street, in Ōrākei, Auckland, has an asking price of $1.55m
