The property, at 8 Henry St, went under the hammer yesterday morning, attracting two serious bidders.
Opening at $2 million, a vendor bid followed to take it to $2.5m.
After a 10-minute pause, the bidding war eventually began, in which the price rose from $2.6m to the eventual sale price, via phone, of $3.05m.
The property’s capital valuation (CV) is $5.04m, which is more than double the $2.45m vendor Ngai Tahu Property Development Holdings Ltd paid for it in an off-market deal in 2011.
The vendor at that time was Plunket’s national body, and that sale price was also below the CV.
The 531sq m property, containing a 240sq m building, is still home to Plunket Queenstown.
Last month, Allied Media reported any new owner had to give Plunket six months’ notice if they wanted them out.
An upstairs two-bedroom flat is now vacant.
