Auckland apartments

[halcyon9]

Anyone know of a good deal coming up on an Auckland apartment?

Looked at a new development today called "the grand" down by the Hyatt.
Developer is Melview Developments.

apparently done some work down at the viaduct.

1bdrm 44sqm including balcony $238,000
harbour views, hyatt spa membership included, no car park.


thoughts appreciated

[Capitalist]

I'll see if I can get someone to give advice. Might take a day or two.
R.

[halcyon9]

CAP thanks

I have decided NOT to proceed

after a bit of digging

no carpark and way too small limits it to one market, students.

Metropolis is starting to show yeilds of 9%;) according to www.citysales.co.nz.

[Capitalist]

And you are right too H9. My advisor says apartment markets around the world are crap. London is crap, Sydney is crap. Auckland usually lags 18 months behind. If buying for an investment the advice is to wait.

[whatsup]

Halc----, What ever you do NEVER but NEVER buy an apartment without a car park,, or you will find "Easy to buy but very/very hard to sell!!!!"

[halcyon9]

thanks for the notes

[easygoing1]

I know of a some quality 2bdrm apartments in the QVB Whitcoulls that are surplus the vendors requirements.

Will be completed Feb and March 2005. These are the only ones facing Queen St.

A current valuation has been completed. Purchaser can purchase below valuation and gain immediate equity. Sorry no carparks as its an historic building but there are plenty close by. Opportunity for a commercial tenant and gain the GST back.

Phone 021 305 205

[John Mexted]

If buying on Queen St, you may want to ensure that the things are well soundproofed. Friday and Saturday nights you will have the boy racers till 2am with horns aplenty.