Another four-bedroom townhouse in Auckland's Onehunga was picked up at a bargain price as part of a high court-ordered auction.
The Hill Street property fetched $71,000 under the hammer – just $1000 more than the $70,000 paid earlier this month for another townhouse on the same block.
The leasehold property was offered up for auction by Auckland’s deputy sheriff, acting on behalf of a high court judgment for Bracken Trustees No1.
It is the third property to have ordered to auction as part of the ruling. The first sold in December last year, and the second at the start of the month.
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All were marketed by Barfoot & Thompson mortgagee sale specialists Philip Davis and Ari Tidyman.
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The three-level, plaster-clad dwelling which sold today was built in the early 2000s, has aluminium joinery, concrete tile roof and included a double garage, north-facing courtyard and south facing balcony. It appears to have been on the market multiple times since 2009, at one point with an asking price of $479,000.
Barfoot & Thompson auctioneer Murray Smith noted that the property had outstanding body corporate and other fees of just over $178,274, but added that the buyer would only be obligated to pay levies from the date of settlement.
In New Zealand, the sheriff, who is also the court registrar, can sell properties owned by indebted people on behalf of the high court.
Bidding went up in lots of mostly $1000, from an opening bid of $10,000, with the property going on the market at $60,000 before selling with a phone bid of $71,000.
Davis declined to comment on the earlier March sale. OneRoof also reached out to the solicitor for Bracken Trustees, Graeme Halse, this month, but he is yet to reply. Company records show that he is the director and sole shareholder of Bracken Trustees No1, along with several other trusts.
Sales of below $100,000 in Auckland are rare and usually involve leasehold studio apartments in the city centre.
In February, a two-bedroom apartment in Auckland CBD sold under the hammer for $25,000. The 75sqm leasehold property on Beach Road sold to a young first-home buyer bidding over the phone.
Ray White agent Dominic Worthington, who marketed the apartment with Ady Huang, said it was a “laborious” auction, but “we got over the reserve”.
“In the auction, we always go back and check with the vendor ‘you comfortable’? We got a few thousand over the reserve.”
The property had a 2021 CV of $350,000.
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