European interest in Banks Peninsula mixed results in city

Press, 28 June 1989, Page 49

European interest in Banks Peninsula mixed results in city

Although a Barry’s Bay property, currently a deer farm, was passed in on June 5 at $200,000, the auctioneer, Mr Les Day, of Peninsula United Realty, anticipates no difficulty in selling it. Banks Peninsula properties are being snapped up by European buyers, mainly from Switzerland, Germany and Austria, he says. Six similar properties have been sold so far this year.

“Overseas buyers are quick to recognise the value of the lifestyle they offer and the scenic attractions. “The new owners have all

applied for permanent residency and live on the properties,” he said. The property has a 1989 Government valuation of $190,000. Inquiries about the property are continuing and it is on the market for $275,000. This reflects the “special” value of inner harbour properties, he said. Five people attended the auction. Bidding, which was slow, opened and remained at $200,000. A sale is being negotiated on a Brighton property which was passed in at $65,000 on June 9.

The two bedroom permanent material flat close to Brighton Mall offers a rare opportunity to purchase in such a central location, says the auctioneer, Mr Noel Gillman, of Gillman Real Estate. The property is in excellent condition and is a deceased estate. The 1984 Government valuation is $38,000 and it is on the market for $74,500. Twenty attended the auction. Bidding, described as keen, opened at $50,000, then rose by $lO,OOO and lots of $lOOO.

A Sydenham’ deceased estate property, passed in at $41,000, has excellent potential, according to the auctioneer, Mr Albert Sprott of Challenge Realty. Bidding opened at $38,000, then rose in lots of $5OO. Nine attended the auction. The property has a 1984 Government valuation of $28,000 and is on the market for $46,000. Described as a “character” home in need of renovation, it is sound, with attractive fireplaces and kauri doors. It is on a 15 perch section.