Ponsonby eyesore on market

File photo / Steven McNicholl

Ponsonby eyesore Soho Square is on the market again as a receiver attempts to draw buyers.

Tim Downes of Grant Thornton NZ said the site would be offered in a campaign headed by Bruce Whillans, principal of Ray White's Auckland commercial operations.

For more than a year, Whillans has been searching for a buyer and supermarket, retirement and healthcare firms were thought to be interested.

But no bidder emerged. Downes said the receivers' focus on the property since appointment had been on adding value by improving the permissible development on the site.

This was achieved in March when resource consent was granted for a mixed-use development of 45,348sq m, versus the previous consent of 32,286sq m when the site was offered early last year, he said.

"There has been continuous interest in the property from a number of parties throughout this value-add phase," he said.