One of our agents Bob Lemalu took a property at 23 Eastview Road, Glen Innes to the market, which was a sloping 809m2 section with a derelict house, bordering on the upcoming Tamaki development area. The property was originally appraised to sell around the $1,300,000 mark. We had 13 registered bidders after 19 days on the market with competitive bidding, leading to a sale price of  $2,310,000, almost $1,000,000 above the reserve.

A tired three-bedroom house in Auckland’s Glen Innes sold at auction last weekend for a phenomenal $2.31 million – more than $1m above its CV.

The 1950s property had zero value but the 809sqm land on Eastview Road, in a rapidly gentrifying part of Glen Innes, had a valuable terrace house and apartment zoning.

“I grew up in Glen Innes and the vendors were old friends of mine,” Ray White agent Bob Lemalu, who marketed the property with Harpreet Walia, says.

“The dad is in his 80s now and he bought the house from the railways in the 1970s. His daughters then bought it from him in the 1990s. They’d be one of the last remaining old guard in the area.”

The property is on the fringes of the huge Tamaki Regeneration Project which is transforming 2500 State homes into a mix of 10,500 new private, affordable and State homes across Glen Innes, Point England and Panmure over the next 20 years….

Read the full OneRoof article here.