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01-02-2013

Apartments proposed for waterfront

Landlords.co.nz

Apartments are still selling in Auckland city for less than half the price proposed for a new development at the waterfront.

The council is working on a housing blueprint for the area. A block of 2.76ha at Wynyard Quarter will be offered to developers for apartments and townhouses priced from $500,000 to more than $1 million.

The long-term plan is for Wynyard Quarter to have a resident population of 2500 to 4000 and a working population of 12,000 to 15,000.

At Ray White’s first apartment auction of the year, a 39 sq m two-bedroom apartment on Hobson Street sold for $190,000. Another  48 sq m apartment with two bedrooms and two bathrooms was passed in for $215,000.

A 38 sq m Queen St apartment sold for $231,000.

Source: Landlords.co.nz

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