KEY POINTS:
Residents of Columbia, a big central Auckland apartment block, have been told their block could cost $3 million to $7 million to fix.
Amy Edwards, chair of the owners' committee, said investigations were still being done, but the block needed to be re-clad and no firm figure had been settled.
In mid-October, Unit 1J was auctioned for $70,000. The agent, City Sales, marketed the unit as having leaks: "Mutiny on Nelson, seller deserting the ship. There must be a catch! Yep - the building leaks. Salvage will yield its own rewards."
Owners are being advised by property consultant Steve Alexander of Alexander & Co and Roger Levie of Lighthouse NZ. Columbia owners have also met representatives of the Government's Weathertightness Homes Resolution Service and lawyer Phillip Rice of Grove Darlow, who said the amount of work needed would not be known until cladding was removed.
