Buyers fuming over lost time after pin pulled

  • It promised to be an affordable and modern entry into the Auckland property market but a developer has pulled the pin on a town-house project, leaving buyers ruing lost time as prices in the city climb higher.

Construction of 34 townhouses at the proposed Mt Richmond Mews in Atkinson Ave, Otahuhu, was about to start when, last month, the company behind the development pulled out, as it was contractually allowed. The two-, three- and four-storey houses sold for between $549,000 and $685,000. Buyers put down 10 per cent deposits, which they’ve got back.



An artist’s impression of the Mt Richmond Mews project, which was to have been built in Otahuhu.