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  1. #1
    Banned
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    Dec 2003
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    , , Singapore.
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    Default Auckland apartments

    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

  2. #2
    Member
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    Nov 2001
    Location
    Auckland, NZ
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    116

    Default

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

  3. #3
    Banned
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    Dec 2003
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    , , Singapore.
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    Default

    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.

  4. #4
    Member
    Join Date
    Nov 2001
    Location
    Auckland, NZ
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    116

    Default

    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.

  5. #5
    Guru
    Join Date
    Jul 2002
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    New Zealand.
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    Default

    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!!!!"

  6. #6
    Banned
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    Dec 2003
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    Default

    thanks for the notes

  7. #7
    Junior Member
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    Dec 2004
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    Default

    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

  8. #8
    Junior Member
    Join Date
    Jul 2002
    Location
    Auckland, , New Zealand.
    Posts
    5

    Default

    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.

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