Apartment price tanks after unlucky flood

  • 24/09/2015
The home was once valued at $1.85 million (Supplied)
The home was once valued at $1.85 million (Supplied)

The value of a Wellington apartment has plummeted by more than $1 million thanks to a little bad luck in the apartment upstairs.

Once worth $1.85 million, the home at 3/212 Oriental Parade is now being advertised on Trade Me with a starting bid of $550,000 after a fish tank overflowed in the apartment above and caused extensive flooding damage.

"This was once one of the most amazing apartments on Oriental Parade with a fit out that would have won awards and an art collection to match," the ad for the home said.

"Believe it or not a fish tank in the apartment above overflowed & wrecked the apartment below."


The real estate agent put a positive spin on the deal though, emphasising the home's potential.

"The great news is that for sale now is a completely Blank Canvas - stripped out to a bare shell of its former glory & screaming out for someone with vision to create whatever they want. 

However, the ad did warn that the building would need earthquake strengthening over the next 15 years.

The apartment will be auctioned off on October 8.


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