A new, mixed-use, 48 unit Live & Work development in Albany, one of Auckland’s fastest growing commercial hubs, offers a higher quality product in more desirable surroundings than similar developments in Auckland according to brokers marketing the units for sale.
Due for completion at the end of next year, the 7480 sqm development named ‘Lucas 18’ at 18 Oteha Valley Rd extension on Auckland’s North Shore, is made up of 48 stratum in freehold unit titles comprising one and two bedroom apartments.
Some larger two bedroom units incorporate a third spare room that could be utilised as an office or alternative use. The development also features a 95 sqm café that is for sale.
Shoneet Chand who, along with colleague Matt Prentice of Colliers International, is exclusively selling the individual units says all residential dwellings occupy the upstairs level, with a combination of either office suites or industrial workspace/storage on the ground floor.
The units range in size from 122 sqm to 208 sqm including the first floor balcony/decking areas.
“This is almost certainly the highest quality, most desirably located Live & Work development within Auckland,” says Chand.
“Lucas 18’s developer, Ziegler property Ltd, has worked very closely with the architect to ensure the product offers buyers a genuine long term, life-style option. Many Live & Work developments typically become very short term, transient dwellings for occupiers due to a lack of quality and desirable settings. This is not the case with Lucas 18.”
Chand says its point of difference is reflected in the functional and generous layout of apartments along with the quality of fit out.
“The developments contemporary, architectural design has been created to appeal as a genuine alternative for existing Live & Work occupiers from across Auckland to upgrade to not only a higher quality product but one that in almost every instance will offer a more desirable, lifestyle environment.
“It is situated beside native bush and abundant green, open spaces.”
Tom Tuke, Director of Ziegler Property Ltd has completed 18 commercial developments over the last 15 years in the Auckland market. These include everything from industrial units to trade retail and strip retail shops to childcare centres and gyms.
Prentice says Lucas 18 is also strategically located within a rapidly expanding commercial and residential precinct and will specifically appeal to small business owners – as well as investors.
“It is an opportunity for smaller business owners to acquire purpose-built premises on what is a very affordable scale – with the obvious, attractive bonus of being able to live in quality where you work.”
Unit prices range from $599,000 to $895,000 + GST (if any) and can be secured off the plans with 10% deposit.
There is also the option for new owners to individually rent out both levels of the units.
“The entrances on the ground floor have been designed in such a way to allow these to be rented out separately with individual access for different tenants if required,” says Prentice.
“Units with the workshop/storage option will suit owners requiring storage space for anything from cars to supplies and stock for small businesses, and the office option is very professionally appointed.”
The units are constructed of predominantly precast concrete panel construction with areas of Nu-Wall aluminum weatherboards and aluminum composite panel cladding. Each unit also features double glazed aluminum joinery and colour steel roofing.
Lucas 18 will be wired for high speed broadband capability and will have connections in the home for Sky/satellite TV and internet. Each unit will be fitted with a standard residential quality security system and CCTV cameras will be located around the development. Apartment fit outs will include a HOB, oven, range-hood, a dishwasher and air-conditioning unit.
All units offer outdoor living areas and a minimum of two car parks directly in front of each unit. Lucas 18’s Body Corporate will be managed by Centurion Management Limited.
The 95 sqm café is located at the front of the site as the ground floor of a 208 sqm two-level unit that also includes a residential apartment on the top floor.
Prentice says the café incorporates an outdoor seating area plus allocated car parking and is designed to accommodate both the residents of Lucas 18 and the wider community.
“This particular unit will be suitable for café owner occupiers or investors looking for a diversified income stream from two tenants – should they choose to rent both levels of the unit separately.”
Site work on Lucas 18 is planned to commence next month (December 2015) says Chand.
“The development on Oteha Valley Rd extension features a northerly aspect overlooking a council reserve and bordering Lucas Creek while still being in close proximity to Massey University, Westfield Albany, North Harbour Stadium, and Albany Village. It is also just 1.5 kilometres from northern motorway on and off ramps and the Albany Park & Ride.
“The wider Albany City development is a major project which has been designed as a dynamic and sustainable sub-regional centre, aiming to enhance the economic and social wellbeing of the area as well as providing for future population growth,” says Chand.
“The surrounding vicinity is designed to include a variety of living, employment, commercial, retail, community, civic and recreation environments.”
Chand says Lucas 18 will sit very well within an area already boasting distinctive, high quality design and a ‘green network’ that creates an attractive urban environment.
‘By 2021 it is estimated that more than 15,000 people will be working within Albany City.”