Two state bungalows sell for nearly $2m
Bungalow-style Auckland homes fetch $1,910,000 at auction.
Two bungalow-style state houses in Auckland have sold at a Bayleys auction for $1,910,000.
The houses are at 94 and 96 Haverstock Rd. No 94 sold for $1,050,000 and No 96 sold for $860,000.
Both were on 968sqm sections - large for the area. No 94 had a CV of $700,000, No 96 $660,000.
It was “an exceptional price that exceeded expectations”, Housing New Zealand general manager asset development Sean Bignell says.
“The sale price of two state houses today in Sandringham, Auckland (a tradionally working class suburb on the up, but still a firm Labour seat), means money can be spent building and improving other state homes for families in need.
“The value of those properties was in the land, as the houses were older-style state houses with original features. Both had large sections perfect for subdivision," he says.
The 17 remaining properties in Haverstock Rd, on seven separate titles, are being removed from their sections to be sold through a tender process next month.
“As a public sector organisation, we made the decision to sell the land to a private purchaser as it is too costly for us redevelop within this Auckland residential area.”
The tenants of the 19 properties have been moved to other state houses.
Housing NZ covered “reasonable relocation and reconnection costs”.
Chris Hutching
Thu, 28 Feb 2013
Thu, 28 Feb 2013
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