- Auckland University is auctioning a donated apartment to fund seismic engineering research.
- The leasehold apartment, which has an RV of $1.725m, was gifted by an overseas donor.
- Proceeds will help future engineers develop skills to enhance community safety in earthquakes.
A leasehold apartment with harbour views and an RV of $1.725 million is heading to auction after the owner donated it to Auckland University.
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The proceeds of the sale of 63/143 Quay Street, in Auckland Central, will be used to fund research in seismic engineering.
The overseas owner of the three-bedroom, two-bathroom apartment at Shed 24 gifted it to Auckland University last year.
He purchased the penthouse pad when the block of 64 apartments was first built in 2001.
Auckland University director of alumni relations Mark Bentley said the gift of an entire apartment was unusual, but noted that the donor had a history of funding scholarships at the university.
The apartment, located in the Princes Wharf precinct, looks over the water and across to the Harbour Bridge. Photo / Supplied
“He had a lifelong interest in earthquake engineering, and after developing a relationship with staff in the faculty, he decided this would be a good direction for his legacy support.”
Professor Richard Clarke, dean of engineering and design at the university, added that the money would be used by students to expand their knowledge and help make communities safer in earthquakes.
Ray White agent Gabriela Galateanu told OneRoof it was humbling to be part of the process. “I've never been part of a sale like this in my seven years as a real estate agent,” she said.
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She noted that the property was in an absolute waterfront position on Princes Wharf. “The apartment has spacious high ceilings and is situated just seconds from cafes, restaurants, ferries, and the CBD.”
She said the RV of $1.725m was largely “irrelevant” as the apartment was on leasehold land. Her listing on OneRoof noted that the ground rent had risen by either 3% or CPI each year, and that the next ground rent review would be in 2039.
Galateanu said the property would be perfect for retirees, out-of-towners looking for a bolthole in the CBD, and overseas Kiwis looking for a lock-up-and-leave.
- 63/143 Quay Street, in Auckland Central, goes to auction on August 28
