Half-finished ‘eyesore’ finds a buyer after four years

A troubled apartment block on Auckland‘s Manukau Road, which has remained incomplete for four years, causing problems for neighbors, has finally found a buyer willing to take on the challenge.

The Epsom Central Apartments project was halted in 2019 when the Auckland Council issued a stop work notice due to non-compliance with building consent.

The partnership responsible for the project was placed into receivership in 2022, owing $11 million to a lender and $2.3 million to construction company KNCC Ltd.

Yvonne Sanders, an antiques dealer in the area, described the unfinished building as an “eyesore” that had been allowed to deteriorate. Her shop was robbed three times in four days by a thief who gained access via the unattended construction site.

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Sanders declined an offer from land agents to buy and redevelop her building, determined to keep her property.

The developer, Shane Xin Zhou, appeared to have vanished, with his whereabouts unknown, and multiple companies he owned were at risk of being removed from the register.

Peter Byers considered purchasing the building but found the costs, including demolition and reconstruction, prohibitive.

Auckland Council’s spokesperson stated that the developer’s application for retrospective consent had been rejected due to concerns about reinforcement and waterproofing quality, with a notice to fix still in effect.

The property was listed for a mortgagee sale in March but was withdrawn in April, leaving neighbors uncertain about its future.

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In an exclusive revelation, it was disclosed that the property has been acquired by Xiao Liu of Venus Funds, the creditor who placed the developer into receivership.

Xiao Liu confirmed her ownership of the property but refrained from disclosing future plans, citing confidentiality.

Neighbor John Ewart, who overlooks the derelict site from his solicitor’s office and residence, expressed hope for swift progress. He acknowledged the housing crisis but found the current state of the property, attracting criminals and pests, intolerable.