A four-bedroom townhouse on Hill Street, in Onehunga, Auckland, sold under the hammer today for $70,000 - less than a tenth of its 2021 CV.
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.
The listing agent for the property, Philip Davis from Barfoot & Thompson, declined to comment due to the sensitive nature of the sale.
OneRoof reached out to the solicitor for Bracken Trustees, Graeme Halse, 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.
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The terrace house in a complex of 19 homes was a leasehold property, and was noted by the agent as being plaster clad. It had a CV of $720,000 and records show it had last changed hands 10 years ago for $460,000.
There had been several attempts to sell the property in 2016 and 2018.
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Bidding started at $20,000, going up in lots of $5000 and then $1000 and $2000 before the property was declared on the market by auctioneer Murray Smith and the hammer came down at $70,000. Smith was not able to comment on the sale.
In December last year, Davis sold the neighbouring property in the Hill Street block for the high court, also acting on behalf of Bracken Trustees No1 and Halse, but that property was withdrawn from sale and records do not show any settled sale.
And a third property, at 75K Hill Street, in Onehunga, will be auctioned on March 22.
The townhouse sale follows an even stranger auction of a house in Onehunga. Last month, a villa with unusual decor, including pressed tin walls in eye-popping hues of bright red and lime green and floral Axminster carpets, sold for $830,000.
The buyers turned up at the on-site auction by chance, thinking it was an open home, and walked away with it half an hour later, as a do-up project for their son to live in.
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