Published 9 May 2019, updated 10 May 2019:
A Zest apartment bought at auction a year ago for $495,000 attracted interest up to only two-thirds of that price when it went to auction again at City Sales on Wednesday.
I wrote on Thursday that the body corporate had had a detailed seismic assessment conducted after Auckland Council issued a notice last July requiring it, lifting its seismic rating to 67% of new building standard.
However, that assessment is a consultant’s estimate of capacity. A full detailed seismic assessment is still needed, and the proposal to proceed with that will go to a body corporate meeting next Thursday.
Bidding opened on Wednesday at $300,000 and it was passed in after 4 more bids.
Zest, 72 Nelson St, unit 624:
Features: 37m², 2 bedrooms, deck, 2 parking spaces
Outgoings: rates $1381/year including gst; body corp levy $6333/year including gst
Income assessment: $400/week, 1 parking space $240/month
Outcome: passed in at $335,000
Agents: James Mairs & Andy Faulkner