Four Cardrona sections owned by Wanaka ratepayer Andre
Prassinos were passed in yesterday at a mortgagee auction
conducted by Bayleys Real Estate.
Auctioneer Mat Andrews said some sections failed to attract
bids, while bidding on one section reached $75,000 but did
not meet the undisclosed reserve price.
Bayleys was instructed to sell by the Southland Building
Society.
Mr Prassinos did not attend the auction, but said he was
aware of the outcome.
A mortgagee auction of another of Mr Prassinos's sections at
84 Maxwell Rd also passed in last week.
Mr Andrews said negotiations were continuing with interested
purchasers for all the sections.
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