Two state houses in Sandringham sell for $1.9 million
Housing New Zealand says two bungalow style state houses which sold at auction for $1,910m was an exceptional price that exceeded expectations.
“The sale price of two state houses in Sandringham, Auckland today means money can be spent building and improving other state homes for families in need,” said Sean Bignell, General Manager Asset Development.
“Money from the sale will be invested in building and improving other state homes in area we need them – homes that are warm, dry and modern.”
“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.
“The two houses are in a row on 19 in Haverstock Road we are selling. The 17 remaining properties, on seven separate titles, are being removed from the sections, and sold through a tender process in March 2013.
The houses are at 94, 96, 98-130 Haverstock Road. Number 94 sold for $1,050 million and number 96 sold for $860,000.
“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 are all in other state houses. Housing New Zealand covered reasonable relocation and reconnection costs.