7 Jun 2010

Swathe of rental units for sale after receivership

6:07 am on 7 June 2010

In what's being called the country's biggest single receivership of residential investment properties, 153 rental units in Hamilton, New Plymouth and Palmerston North are for sale.

The sale includes multi-storey apartments and units, as well as student residences in Hamilton, 16 three-bedroom townhouses in New Plymouth and a large accommodation complex in Palmerston North.

The units were placed in receivership at the end of 2008.

Bayleys Real Estate, which is handling the sale, says it represents a significant chunk of the private accommodation available in all three towns.

It says there's interest from commercial and industrial property investors.

Tenders close on 1 July.