The 29ha of vacant land at 39 Flat Bush School Rd is close to Barry Curtis Park.
A land banking business with a big piece of residentially zoned real estate on Auckland's outskirts has made more than $6 million a year for almost two decades - doing nothing.
QV records shows Yi Huang Trading Company owns 39 Flat Bush School Rd, which it bought in 1995 for
$890,000.
Now, this 29ha block is listed on the market for $112.6 million, promoted as "the land of opportunity, vacant but close to Barry Curtis Park".
Barfoot & Thompson real estate agent Charles Hsu said the owner might accept $80 million.
"They might drop the price. They understood the asking price is too high," he said of the business which was established by Taiwanese. The block could be subdivided into tiny 400sq m parcels, he said, but first services must be provided, including a road.
