Auckland CBD car park sale for $265,000 confirmed as record

A private car park in the Quay Regency apartment, at 148 Quay St, sold for $265,000. Photo / Supplied
A private car park in the Quay Regency apartment, at 148 Quay St, sold for $265,000. Photo / Supplied

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?

A three bedroom home on 1136m block in Kaitaia for $245,000

Half of Kaiwhitu Island for $120,000 in Kaipara Harbour

Around 10 relocatable houses at $25,000 each like these three
Two bedroom one bathroom house in Ranui

Three bedroom, one bathroom house in Pakuranga

Four bedroom, one bathroom house in Hamilton

A four bedroom, two bathroom villa in Invercargill for $237,000

An Auckland City cafe for $244,000 with an $8000/week turnover

A car to put in the park, like this Aston Martin Vanquish Coupe 8 Speed Touchtronic for $250,000

- NZ Herald

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