Housing New Zealand has sold the largest block of former state housing land to be disposed of in Auckland for 14 years.
The one-hectare parcel of land in the central Auckland suburb of Sandringham has sold for $8.7 million.
The corporation had demolished the 17 state rental flats and houses on seven adjoining properties, prior to the sale.
Housing New Zealand said the land had become too valuable to redevelop for subsidised rental properties.
It said the proceeds from the sale and that of two neighbouring state houses, would fund 40 dwellings elsewhere.
