An apartment in the upmarket Auckland suburb of Remuera has sold for $8.7 million, in what is believed to be this country's most expensive apartment sale.
The three bedroom apartment (pictured at right) in the Kingsridge apartment building located across the road from the library in the heart of Remuera, has a floor area of 356 square metres, three bathrooms and internal garaging for three cars.
All of the bedrooms and main living areas open out to outdoor terraces, and most rooms have panoramic views looking north over the city and Waitemata Harbour.
It was sold at auction by Bayleys' Remuera office. The agent who handled the sale, Gary Wallace, said the auction room was full for the sale and bidding started at $5 million.
Eventually just two bidders were left to battle it out until it sold under the hammer for $8.7 million.
Wallace said the buyers were locals.
According to QV.co.nz the apartment had a rating valuation of $6.21 million and had been purchased in 2005 for $4.7 million.
Other recent highly priced apartment sales have included a penthouse in the Sentinel building at Takapuna and another in the Metropolis building in Auckland's CBD. Both are understood to have sold recently for between $7 million and $8 million.
However things were a little quieter at the main Auckland apartment auctions this week, where a range of more affordable properties were on offer.
At City Sales' auction on Wednesday, four apartments were offered but only one was sold under the hammer, with the rest passed in to be sold by negotiation.
The unit that sold was a 37 square metre studio in the Heritage Grand Tower on Nelson St in the CBD, which went for $268,000.
At Barfoot & Thompson's main apartment auction this week just two units were offered. Although both attracted bids, they were both passed in.
Five commercial properties were also offered at the same auction with one selling under the hammer and the others passed in for sale by negotiation.
At Ray White City Apartments' regular weekly auction, five apartments were offered. Three sold under the hammer with the remaining two passed in for sale by negotiation.
The full results from those auctions with prices of the individual properties that sold and details of those that didn't, are available on our Auction Results page.
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