Lucky day for apartment sales

Record sales in the month since the launch of O.K.L.A. in Albany

The newest apartment development in the Auckland suburb of Albany has achieved record sales rates in the month since its launch on the ‘lucky’ day of 10 October.

O.K.L.A. – named for the development’s location, On Kaipiho Lane, Albany – is a collection of 117 apartments currently being sold off the plans by Colliers International.

Sales were officially launched at O.K.L.A. at 7am on the 10/10/2017, a time and day chosen because of its importance in the Chinese lunar calendar.

In the Year of the Rooster – which this year runs from 28 January to February 15, 2018 – the date of 10 October is considered an auspicious day for grand openings and contract signings. 

The time of 7am is seen as especially lucky, and was marked at O.K.L.A. with a special contract signing event for VIP prospects who had already viewed the project and made their apartment choice.

On launch day, 23 people signed conditional contracts and since then, in the first month of sales, a further 31 apartments have gone under contract, making a total of 54 sales or 59 per cent of the available apartments.

Pete Evans, National Director of Project Marketing at Colliers International says this is a record sales rate for all the residential apartment projects on Auckland’s North Shore in 2017.

“The strong sales rate at O.K.L.A. show that the appetite remains high for desirable products in desirable areas despite challenging times,” he says.

“With the election uncertainty period lasting for longer than expected and sales volumes decreasing in Auckland, buyers have been particularly cautious over the last two months.

“Despite this, O.K.L.A. has continued to sell quickly, which shows that people recognise the value of this location and product and they don’t want to miss out.” 

The design concept for O.K.L.A. is to bring everyday luxury to the heart of Albany, with apartments offering all the luxuries of a modern home including open-plan living and high-end fittings, just minutes from the Park and Ride, and in close proximity to all of the amenity that Albany has to offer. 

Albany is one of Auckland’s fastest growing suburbs and is poised for continued growth as one of 10 Metropolitan Centres in the 10-year plan for Auckland.

Frank Li, Managing Director of the developers, Kingsman, says although they were lucky with the timing of the project launch it was the project’s design and focus on detail which ensured that it was appealing to the market. 

“Two years of preparation and planning went into the launch of O.K.L.A. to deliver the most attractive project possible. 

“Our philosophy is that detail is everything, aside from choosing a great location, every effort has been made to design a project that is of high-quality and meets the needs of our market, which we believed there was a lack of in Albany.”

Michael Boyce, an Associate Director at Ignite Architects, says that the design concept was a modern aesthetic that uses a distinct ‘V’-shape to maximise the sun and outlook for all apartments.

“Splitting the building gave us the opportunity to have a central entry point at the base of the ‘V’ and meant all the apartments will have really good outlooks and access to daylight.

“The ‘V’ design also allowed for the creation of a double height atrium that will be a sophisticated entry lobby residents will be proud to come home to and to meet family and friends.

“The central entry is the hinging point and beyond that the building is defined with two large floating frames in light weight concrete which distinguishes the address and really give prominence to the building.”

Boyce believes that the focus on quality has driven the end result.

“It’s not unusual for design elements to be forfeited in order to cut costs but pleasingly this has not been the case in this project.”

View the display suite, featuring furnished display apartment styled by Citta Design, at 3 Kaipiho Lane Albany.

Follow us on Facebook and Instagram.

Get the latest commercial real estate insights and property news.

Looking for commercial real estate? Try our property search or connect with expert commercial real estate agents today.

Need your real estate assessed? Work with our expert property valuation services team.

Subscribe to News
Share this Page
People
Research
Close

Saved Properties

Remove All
You have no saved properties. Click the 'save' button associated with a property listing to see it displayed here.
Close