Friday 30th November 2001 |
Text too small? |
City Sales managing director Martin Dunn yesterday confirmed his company had auctioned a unit in the Metropolis for $175,000 on Wednesday. The sales represents about a 25% loss on the unit's original $234,000 GST-inclusive price.
Veteran property investor Olly Newland also released a statement yesterday warning investors against buying "bargains" in apartment fire sales.
He said the quality of the Metropolis was not in question but the values being achieved so soon after resale were a "disaster."
The sales figures call into question the valuations behind Mr Krukziener's bond issue.
- Campbell McIlroy
No comments yet
Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER