Half a dozen uninhabitable Wellington houses that were being sold in a liquidation sale have been withdrawn from the market.
The six properties, which had a combined value of almost $10 million and included a run-down character home in one of the city’s blue-chip suburbs, were listed on the market for sale earlier this year.
Wellington-based property firm Shazwal Investments had acquired the properties over the last 30 years with the intention of renovating them.
Read more:
Start your property search
- Tiny pink home with colourful past sells for just over $800,000
- Wellington’s most expensive home of 2024: Locals beat expats to luxury mansion
- $1 reserve auction: $420,000 win for worst house agent had ever seen
But when the company went into liquidation in September last year, the liquidator Palliser Insolvency Ltd appointed real estate agency Tommy’s to sell them in January along with a seventh property. IRD, ACC and Westpac were among the creditors named in the liquidator’s first report.
Tommy’s salesperson Jason Lange confirmed the houses were taken off the market last week.
One of the houses in the group of seven sold last month but the remaining six, which ranged in value from $455,000 to $4.1m, had been changed to price by negotiation before being pulled from the market altogether.
The properties are scattered around Wellington and the Hutt and were being sold in an “as is, where is” condition.
A two-bedroom unit on Farmer Crescent, in Taita, had an RV of $455,000, making it the cheapest of the seven properties being sold. Photo / Supplied
The three-bedroom, one-bathroom home on Frederick Street, in Avalon, had missing external and internal walls and had been sold by the time the other houses were withdrawn from sale. Photo / Supplied
The most expensive was an abandoned 1900s stately home on Oriental Parade that had an RV of $4.1m, followed by the neighbouring five-bedroom, two-bathroom property, which has an RV of $1.83m.
There were also two side-by-side properties on Mitchell Street in Brooklyn, which had also been deserted halfway through renovations, which had an RV of $1.41m and $1.43m respectively.
At the lower end of the price scale, were two units in Taita and Elderslea with RVs of $455,000 and $530,000 respectively.
All the properties had been marketed as having renovation potential rather than pull-downs.
However, not all the properties escaped being sold off by the liquidator. A three-bedroom, one-bathroom house on Frederick Street, in Avalon, with missing interior and exterior walls had already been sold to a property trader who planned to finish the work before on-selling it.
The price of the Frederick Street house, which had an RV of $810,000, cannot be disclosed until settlement.
Palliser Insolvency and Shazwal Investments did not respond to OneRoof’s requests for comment.
- Click here to find more properties for sale in Wellington
