A derelict four bedroom villa in Freemans Bay has sold under the hammer for a jaw-dropping $3.1 million.
The deserted property at 12 Anglesea St was the subject of a bidding war at the on-site auction on Saturday with 10 interested parties and just $5000 securing the winning bid.
The sale price is close to double the $1.79m capital valuation of the four bedroom, one bathroom run-down villa. The land value represents a whopping $1.73m of the property's overall valuation.
![The front of the house. Photo / Supplied](https://www.nzherald.co.nz/resizer/v2/UER7GFS5ZUULYD5QFJKUTKT2M4.jpg?auth=86f0235bd9fd9e39608b9f071a1f767ca8b6282432a59ed80a09d979df34ed3f&width=16&height=11&quality=70&smart=true)
The new owners who are from Auckland planned to completely renovate the heritage-protected property before moving in with their family.