PHOTO: Nikki Connors. FILE
A multi-million-dollar apartment occupied by prominent property investor Nikki Connors has been relisted for sale under mortgagee conditions, adding another chapter to its tumultuous recent history.
Nikki Connors is New Zealand’s self-titled queen of property. Photo / Supplied
Over the past three months, the two-bedroom property located at 204/27 Grace Street in Auckland’s prestigious Ōrākei suburb has been placed on the market three times, with ownership disputes contributing to the ongoing uncertainty surrounding its sale.
In June, Connors attempted to halt a mortgagee sale of the apartment by securing a sale and purchase agreement worth $2.25 million with a prospective buyer. Despite this, the bank proceeded with plans for a mortgagee auction, which was ultimately canceled at the last minute. At the time, Connors informed OneRoof that issues with a co-trustee had led to the mortgagee sale situation, but she continued to reside in the property.
Auckland apartment of ‘Queen of Property’ Nikki Connors up for mortgagee sale
The apartment resurfaced on the market in July through a different agency and with a new vendor. Bayleys agent Andrew Wallace told OneRoof that their client had purchased the apartment from Connors for an undisclosed sum and was keen to sell, stating, “Vendor’s instructions are clear – this will be sold.” Wallace clarified that the new vendor had no connection to Connors or other residents in the apartment complex but had allowed Connors to continue living there.
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Initially scheduled for auction at the beginning of August, the sale strategy shifted to a deadline sale set for August 28. However, on August 24, the listing was withdrawn and quickly reintroduced as a mortgagee tender closing on September 19. It is understood that the previous sale arranged by Wallace’s client did not proceed, though Wallace declined to comment on the latest mortgagee sale listing. He did note that the apartment remains in good condition, offering “a great opportunity for someone looking to go in and tidy it up.”
Attempts to reach Connors and current listing agent Philip Davis for comment were unsuccessful at the time of publication.
Nikki Connors, who brands herself as New Zealand’s “Property Queen,” has a notable presence in the real estate industry as an author, mentor, and financial adviser. Her company, Propellor Property Investments, claims to have assisted numerous Kiwis in achieving millionaire status over its 15 years of operation by specializing in the sale of new-build residential properties to investors and providing associated financial and investment advice. Connors also conducts free investment workshops and has several events scheduled in the near future.
In June, Connors explained to OneRoof that the mortgagee sale situation arose due to complications with the property’s title linked to a former trustee. She stated, “I couldn’t do anything until the trustee was removed [from the title]. I’m now the sole trustee and I’m going ahead and doing what I was wanting to do 12 months ago.” Despite providing documentation to the bank detailing these changes and presenting the $2.25 million purchase offer, Connors expressed frustration that the bank refused to halt the mortgagee sale process.
Further complicating Connors’ financial landscape, BusinessDesk reported in May that she was subject to an asset-freezing order after relinquishing a bid for name suppression.
The ongoing saga of this Ōrākei apartment highlights the complexities and challenges that can arise in high-stakes property transactions, even among seasoned industry professionals. As the tender process unfolds, prospective buyers may view this as an opportunity to acquire a luxury property in one of Auckland’s most sought-after locations, albeit against a backdrop of legal and financial entanglements.
– 204/27 Grace Street, in Ōrākei, Auckland, is for sale by way of tender, closing September 19
SOURCE: ONEROOF