It is confirmed, an Auckland car park has sold for a record price - nearly three times that of the previous record.
The single parking space in the CBD's Quay Regency apartment building sold for more than a quarter of a million dollars earlier this week.
"After going through our data, we can confirm that the recent sale of a car park for $265,000 is a record," Bindi Norwell, chief executive at Real Estate Institute of New Zealand (REINZ), said.
"Prior to this the most expensive car park sale was for $100,000 in Freemans Bay earlier this year."
The jaw-dropping sale price exceeded Ray White Auckland City Apartments realtor Daniel Horrobin's expectations by "quite a bit".
He and fellow Ray White realtor Damian Piggin marketed the freehold car park at 148 Quay St, near Britomart.
"That was a fairly exceptional result," Horrobin said.
It turns out car parks aren't a bad investment. Median sale prices for an Auckland car park have jumped from $38,000 in 2012 to $75,000 in 2017 - although the 2017 figure was calculated at October 31 and doesn't include the recent huge sale.
Car park sales have made six-figure sales figures for some time with $100,000 parks going under the hammer as far back as 2012.
What else can be bought for $265,000?
Around 10 relocatable houses at $25,000 each like these three
Two bedroom one bathroom house in Ranui