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Actual Priced Paid to Purchase the Block

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  • Actual Priced Paid to Purchase the Block

    Does anybody know how much the block properties were originally purchased for. And how much they spent?
    NZ Tax fixed fee accounting, we are an online accounting practice. Our integration with Xero and our unique approach provides provides superior value to our clients.

  • #2
    they probably spent more than they sold for, give them 6 months and all the dodgy work will fail, you cant do renovations like that in that time frame, things like plaster and paint need proper drying times for a reason

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    • #3
      There is no way they're worth 900k+. That's ridiculous. I know it's Takapuna and all, but they're little bungalows.

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      • #4
        i heard they paid around 600 each for them and spent 500k on them, could be wrong though

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        • #5
          Did anyone else notice that after the first house sold and the reserve showed on screen at the end, the following three properties had the reserve showing before it had even been reached?
          You can find me at: Energise Web Design

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          • #6
            Someone here must have unlimited access to property value look ups to see what the production company originally paid for the houses.

            The Herald said they were valued at $750k pre renovation. They would have had $200k plus spent on them is my guess.

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            • #7
              According to Property Guru

              78 Anzac Street:
              Rating Valuations: $750,000
              Land Value: $570,000
              Improvements Value: $180,000
              Valuation Date: 01‑Jul‑2011
              Last Sale Price: $635,000
              Last Sale Date: 15‑Feb‑2012
              Last Sale Type: Whole. One property involved
              Sale Tenure: Freehold
              Purchase Relationship: Market Level - Bonafide
              Net Sale Price: $629,000
              Chattels: $6,000
              80 Anzac Street:
              Rating Valuations: $750,000
              Land Value: $570,000
              Improvements Value: $180,000
              Valuation Date: 01‑Jul‑2011
              Last Sale Price: $635,000
              Last Sale Date: 15‑Feb‑2012
              Last Sale Type: Whole. One property involved
              Sale Tenure: Freehold
              Purchase Relationship: Market Level - Bonafide
              Net Sale Price: $629,000
              Chattels: $6,000
              76 Anzac Street:
              Rating Valuations: $750,000
              Land Value: $570,000
              Improvements Value: $180,000
              Valuation Date: 01‑Jul‑2011
              Last Sale Price: $635,000
              Last Sale Date: 15‑Feb‑2012
              Last Sale Type: Whole. One property involved
              Sale Tenure: Freehold
              Purchase Relationship: Market Level - Bonafide
              Net Sale Price: $629,000
              Chattels: $6,000
              Property Management Auckland

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              • #8
                mmm - all the same price. They must be all off the same person. I wonder if these were bought of an investor or whether someone had been stockpiling them for the show and you really need to look at the purchase prior to get what they really paid for them. Given the sale date, 15 Feb and when the show must have started being planned, my guess is they were being stockpiled by an associated person/entity.

                If anyone has four near identical run down investment properties next door to each other in a main city and they want to get rid of them, I would give the the production company a call. Must be hard to find unless they buy a sausage block of flats which I dont think would get the same interest in NZ.

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                • #9
                  Any idea on who (if anyone) is tainted as property developers as a result of doing this?

                  Would it be the 4 couples, the producers of the show, or media works?

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                  • #10
                    What did they sell for?

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                    • #11
                      * Libby and Ben's house at 78 Anzac Ave was the first to be auctioned. Their property, described as the best on the block, was sold for $961,000. The couple made a profit of $157,000 from the $804,000 reserve.
                      * Sarah and Richard's house at 76 Anzac Ave sold for $870,000. The couple made a profit of $64,000 from a reserve of $806,000.
                      * Ginny and Rhys' house at 80 Anzac Ave sold for $805,000. The couple made a profit of $11,000 from a reserve of $794,000.
                      * Rachel and Tyson's house at 74 Anzac Ave sold for the reserve of $789,000. The couple made no profit.

                      http://www.stuff.co.nz/auckland/loca...ks-top-honours

                      Total income 3,425 k.
                      Less total purchase 2,516k (assuming 74 was also bought for 629k).
                      Less total renovations 500k
                      Total before tax profit 409k.
                      Last edited by brendan; 07-09-2012, 01:20 PM.

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                      • #12
                        I still don't see the value. Are they in good school zones? You still need to cross the bridge to town. The beach is polluted. There's the boat ramp I suppose.

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                        • #13
                          Shock 'Block' Finale

                          Shock 'Block' Finale

                          After weeks of watching a bank of derelict shacks slowly emerge from their cocoons into glittering show homes, the houses of 'The Block' NZ went under the hammer last night and the show with the laziest theme song ever (nah nah nah nah nah nah nah nah) came to a shocking conclusion.
                          http://nz.entertainment.yahoo.com/tv...-block-finale/

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                          • #14
                            DONATE TO THE COUPLE!!?? wtf?

                            My heart bleeds for them.

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                            • #15
                              I only saw the program a couple of times while flicking chanels and all they seemed to be doing was cooking or arts and crafts the little I saw of the properties rooms were shocking looked like kids had done it. Hate reality TV like this.

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