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  1. #1
    Join Date
    Apr 2010
    Location
    Auckland
    Posts
    307

    Default 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. #2
    Join Date
    Sep 2011
    Location
    Dunedin
    Posts
    1,685

    Default

    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

  3. #3
    Join Date
    Aug 2010
    Posts
    2,630

    Default

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

  4. #4
    Join Date
    Sep 2011
    Location
    Dunedin
    Posts
    1,685

    Default

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

  5. #5
    Join Date
    Jan 2004
    Location
    Whangarei
    Posts
    5,867

    Default

    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?

  6. #6
    Join Date
    Oct 2003
    Posts
    3,578

    Default

    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.

  7. #7

    Default

    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

  8. #8
    Join Date
    Oct 2003
    Posts
    3,578

    Default

    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.

  9. #9
    Join Date
    Jul 2006
    Location
    North Shore
    Posts
    301

    Default

    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?

  10. #10
    Join Date
    Jul 2011
    Location
    Tauranga
    Posts
    2,769

    Default

    What did they sell for?


 

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