Hi Michael,
I for one value your comments. Yes, ‘as noted in a prior discussion’ we don’t agree on everything, but I totally get that you’d be operating in what I’d call the opposite end of the spectrum to the new investor, i.e. me, whatever kind I am. Anyway, it’s all good that there is someone like you with your knowledge and it is appreciated that you share your time.
cheers-
MiniHi all,
Have some info about Conrad properties Ltd.A work friend had some information faxed over from NZ about this development.If it’s the same one it’s called Volt on Queen, on the corner of Queen street and Mayoral drive and consists of 2 blocks of apartments funnily enough called Mayoral pavillion and Queen pavillion.From what I can gather they range from:
37m2 for a type “f” apt (dont know how many beds)to
61m2 for a type “i” 2 bed ground floor apt inc patio.
Type “e” 2 bed 41m2 inc deck
Type” d” 2 bed 43 m2 inc deck
Type “C” 2 bed 50 m2 inc deck
Type “A” 2 bed 55m2 inc deck
Also company has other developments called “Harvard” 209 appts anticipated completion May 04.”All Sold Out”
“Zest” 512 appts anticipated completion Dec 05.
“Altitute: 512 appts (196 already sold) completion Dec 05.Hope this info helps.
Regards
SilverbackPS A car park space for “Volt” is an extra $39K (NZ)
230k for a 37m2 studio, plus 39k parking space? That’s sydney prices- very exxy.
One of the problems with these kind of apartments is that they become very much a “one-purpose” form of accommodation- basically, the International student market. Living in a 37sqm apartment with no car space? That’s a small market to target.
I think these apartments sound just like sydney apartments- they put in a few at the bottom end of the price range- 1 or 2 of the 230k ones, to attract the newer investor- but those ones are usually sold anyway, when one goes to inquire. The rest of the apartments are probably highly negatively geared.
kay henry
61m2 for a type “i” 2 bed ground floor apt inc patio.
Type “e” 2 bed 41m2 inc deckThis is another trick these companies use. They include the deck or patio in the floor area they quote.
good work silverback you are right on the mark with your coments “Volt on Queen”.
most apartments are 2 bedroom must ask about the car park though.
Steve
41 and 43 sq. metres including the balcony as well as TWO bedrooms ?
Forget about it, sight unseen.
Very difficult to obtain finance., not only for you but also for the subsequent buyer.
If one wants to invests in NEw Zealand go and see for yourself or contact Westan or Mini who are on the spot.
Pisces
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