A luxury apartment once occupied by property investor Nikki Connors has sold at a mortgagee sale for an undisclosed sum.
The two-bedroom, two-bathroom apartment on Grace Street, in Auckland's Orakei, was marketed by Barfoot & Thompson as a “very special urban retreat” in the Sartori Residences building, which was described as an architectural masterpiece nestled in a private cul-de-sac.
The apartment had a price tag of $1.55m - $600,000 below its CV - when it was withdrawn from the market. The listing on Barfoot & Thompson’s website indicates the property sold this month, however, agent Philip Davis said he could not comment on any aspect of the sale.
The listing described the apartment as having views over Awarua Reserve and Hobson Bay to the city.
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“Crafted by architects, Peddle Thorp, this exclusive boutique apartment complex boasts timeless design and bespoke interiors,” said the listing.
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“Residents in the complex enjoy access to a private lounge complete with a chef's kitchen great for private gatherings.” A OneRoof article from August told how the property had hit the market three times in the previous three months with unresolved questions over ownership.
In June, Connors was trying stop the mortgagee sale of the property, said the article. She told OneRoof she had signed a sale and purchase agreement with a buyer for $2.25 million, but the bank had refused to cancel the mortgagee auction.
She still lived at the property with Connors saying it had gone to mortgagee sale because of issues with another trustee.
The OneRoof article said the auction was cancelled at the last minute, with the listing agents notifying the public the property had been withdrawn from sale, but the apartment was relisted in July with a different agency and a new vendor.
Nikki Connors is New Zealand's self-titled queen of property. Photo / Supplied
The bedrooms are stylishly dressed. Photo / Supplied
The same article reported Bayleys agent Andrew Wallace as saying their client had purchased the apartment from Connors for an undisclosed amount and was looking to sell, with that listing declaring: “Vendor’s instructions are clear – this will be sold.”
Wallace said 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, which was due to be sold at auction at the start of August but the agents and the vendors switched tactics, listing it as a deadline sale with an August 28 closing date.
However, the listing was withdrawn on August 24 and relisted just hours later as a mortgagee tender, closing on September 19.
The article said OneRoof understood the purchase by Wallace’s vendor had fallen through, although the agent declined to comment on the listing’s reappearance as a mortgagee sale.
The apartment is located in Auckland's upmarket Ōrākei. Photo / Supplied
In June, Connors told OneRoof 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.
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