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Home / New Zealand

On the block: Auckland reality show penthouse back on market five months after sale

Ben Leahy
By Ben Leahy
Reporter·NZ Herald·
10 Mar, 2020 11:14 PM2 mins to read

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The penthouse suite from The Block Firehouse apartments sold for $1.6m in September and is now back on the market. Photo / Jason Oxenham.

The penthouse suite from The Block Firehouse apartments sold for $1.6m in September and is now back on the market. Photo / Jason Oxenham.

An Auckland penthouse apartment designed by contestants on last year's The Block NZ is back on the market just months later.

The seller paid $1.6 million for the apartment in September last year.

The third-storey penthouse at 516 New North Rd offers 360 degree city views, is close to Kingsland's trendy cafes and yoga studios and comes fitted with designer touches like a marble entrance and whiskey bar.

Its sale price last year was "fractionally below reserve", The Block NZ's host Mark Richardson last year told fellow television show The Project.

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It meant contestants Mikaere and Sophia Gardiner made no profit from the sale despite their months of work decking the penthouse suite out.

The penthouse had earlier failed to sell at auction after drawing a top bid of $1.455m.

However, the penthouse's auction last September came on the back of an 18-month slump in Auckland property prices and an extremely quiet winter sales period.

Auckland prices have steamed back to life since then.

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Kingsland's median house value now sits at $1.25m, up 4.2 per cent on three months earlier and 2.9 per cent on 12 months ago, according to the latest OneRoof Property Report and its data partner Valocity.

READ MORE:
• On the rebound: Auckland house prices make biggest jump in two years
• Westpac revises house price rise forecast, anticipates 10% growth
• House price increases break new yearly records, regions most affected
• Property: Five things you need to know about the housing market in 2020

The two-bedroom penthouse included a "huge" master suite and "incomparable walk-in wardrobe and ensuite".

The open plan kitchen and lounge and dining area leads to a north-facing deck with views over Eden Park and its outer fields.

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