The one apartment auctioned at Ray White City Apartments today – a unit in the Empire off Symonds St – was sold under the hammer.
The unit is subject to an unregistered lease to Building manager John Chen’s company, Theta Management Ltd, and also has a large contribution to make to remediation costs.
The Empire, 21 Whitaker Place, unit 1327:
Features: 30m² studio; remedial costs & losses estimated at $20 million, this unit’s estimated liability $43,040; sold subject to existing unregistered lease in place to Theta Management Ltd (John Chen), fixed until 2026
Outgoings: rates $878/year including gst; body corp levy $3503/year including gst, remediation levy $2970 including gst, both levies for the last year
Outcome: sold for $110,000
Agent: Damian Piggin