The Block penthouse sells for $1.6m, but still no money for Mikaere and Sophia Gardiner

All four apartments from the latest series of The Block NZ have been sold. New Zealand Herald photograph / Jason Oxenham

The penthouse renovation featured on The Block NZ: Firehouse has finally found a new owner - four days after it failed to sell at auction.

The show's host confirmed the sale on The Project tonight, saying it had sold for $1.6 million, a figure that he said was "fractionally below reserve".

The couple who worked on the property, Mikaere and Sophia Gardiner, made no profit from the sale.

On auction night, the top bid was $1.455m and as it was under reserve was passed in.
Earlier in the week the two other properties which didn't sell by auction were also purchased.

A late-night close on auction night saw Stacy Heyman and Adam Middleton's Apartment 1 sell for $1.48m. The sale price met reserve, but failed to make any profit.

Meanwhile Ethan Ordish and Sam Whatarangi's Apartment 3 just reached reserve at $1.39m, meaning they will receive no money for their efforts.

While the trio of teams failed to make any post-sale profit, they have all been "gifted" $10,000 by show advertiser TSB New Zealand.

We would like to see all the teams go home with money after The Block NZ auction and be rewarded for their hard...

Posted by TSB New Zealand on Sunday, September 8, 2019

Wellington couple Lisa Ridout-Gordon and Christopher Gordon, from Apartment 2, were the only team to sell over the reserve price, banking $50,000, as well as $100,000 cash prize for the show win.