The original developers of Mount Maunganui's Pacific Apartments on Maunganui Road has gone into receivership forcing 16 apartments to be put up for tender.

Asia Pacific Management Limited went into receivership in November 2012 with Corporate Finance Limited in Auckland appointed the receivers for the 16 residential apartments owned by the developer of the complex completed in 2009.

16 Pacific Apartments in Mount Maunganui are up for tender.

The listings includes two penthouse apartments, 14 residential apartments, two commercial units, the café (subject to lease) and the management office and conference room, are also listed, but are continuing to operate during the tender period.

The 11 floor complex consists of 68 apartments, a 445sqm penthouse and a heated swimming pool and spa pool at ground level.

Realty Services Group chief executive Ross Stanway says other than the 16 apartments up for tender the rest of the complex apartments are already owned.

Ross would not comment on the prices set out for the tenders saying it would 'undermine” the tender process.

'The reality is that the apartments cover a range of one bedroom, two bedroom up to four bedroom apartments.”

He says the receivership does not reflect the wider state of apartment sales in Mount Maunganui, as he says apartments are beginning to sell again following a three year halt to developments.

'At the time these apartments were under construction there was a number of other completed or near completed apartments.

'There's been an adjustment in the property market that everyone is well aware of. Apartments are selling if they are well constructed and well presented in the current market and there are people interested in purchasing them.”

A number of enquires have been made into the apartments with tenders closing on Thursday.

All enquires can be made through Peter Clarke at Bayleys Realty Mount Maunganui.