There was a theatrical performance from one of the bidders at Ray White City Apartments' regular auction this week, which was attended by a group that included TV personality and author Tim Wilson.
One of the members of this group enlivened his bidding for an apartment conversion near TVNZ's headquarters, with instructions to the auctioneer and other bidders on how the auction should proceed.
When the other bidders dropped out, leaving him as the sole bidder but with a bid that was still under the reserve, he accused the auctioneer of being unprofessional when the auctioneer briefly left the room to seek instructions in private from the vendor.
When the bidder was asked to be patient, he exclaimed to the startled crowd: "Is there a doctor in the house? If I am to be a patient, I will need a doctor!"
Theatrics aside, four of the five units offered for sale were sold under the hammer, with the entertainment thrown in for free.
The full results are below:
95c Cook St.
This was an unusual 184sq m apartment conversion at the back of an industrial building at the motorway end of Cook St. It was divided into two flats, one a one bedroom unit and the other with two bedrooms, both of which were on a single title. That would give the new owner the option of combining the flats into a single larger one. There were multiple bidders for this property and it sold under the hammer for $895,000 to a bidder that was part of a group that included TV personality and author Tim Wilson. The two flats provided a combined rental income of $840 a week, giving a gross rental yield of 5.5%. Rates were $2214 and the body corporate levy $1271. According to QV.co.nz the property was previously sold for $293,000 in 2004 and then for $610,000 in 2009.
10f/147 Hobson St. Harvard building.
A 56sq m, two bedroom unit with car park, it sold under the hammer for $205,000. The apartment was rented at $380 a week and the car park at $45, giving a gross rental yield of 10.2%. Rates were $943 and body corporate levy $5087. According to QV.co.nz the property was previously sold for $198,000 in 2002 and then for $187,000 in 2012.
12e/113 Vincent St. Winsun Heights building.
A one bedroom unit with car park, offered with vacant possession. According to the Ray White advertising flyer for the property, "the vendor is determinant (sic) to sale as they are in need of cash up, hence your chance has been presented!!" and also, "This popular apartment is now vacant and ready to move in anytime, vendor is looking for pre-auction offer." Unfortunately there were no bids on the property and it was passed in, so if the vendor is still "determinant to cash up" there may be an opportunity for someone to present a sharp offer. According to QV.co.nz the property was last sold for $198,000 in 2003.
11e/32 Eden Cres. Eden Apartments building.
A vacant, 35sq m, two bedroom unit. Sold for $250,000. Rates $1104 and body corporate levy $3343. According to QV.co.nz it previously sold for $189,000 in 2011.
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