Auckland has been propelled into the upper echelons of top cities for deluxe real estate according to research by global network Christie’s International Real Estate.
Demand from international buyers has put Auckland in the top spot followed by Toronto (last year’s number one), Victoria, B.C., Valencia, San Francisco with Sydney holding down ninth as the only Australian city.
The research had Auckland achieving a 63 per cent growth in sales of $1 million-plus properties.
A growing population (about 3 per cent last year for Auckland), low interest rates, no stamp duty, capital gains tax or land tax and a strong economy have helped fuel demand for high-end property in New Zealand’s largest city.
Overseas buyers including from Australia and Asia are helping lift this demand. According to Domain.com.au The Bank of New Zealand has estimated that 6 per cent of New Zealand homes are bought by foreign nationals with Australians accounting for about a quarter of that.
Property developers have been responding with a raft of quality developments to meet this demand and capitalise on beautiful Auckland’s stunning harbourside living.
Here we look at five developments currently underway in Auckland changing the face of prestigious inner-city living:
1. Union Green
Located on the western fringe of Auckland’s CBD developer Myland Partners is building Union Green a $120 million 150-unit apartment complex which promises a lower density development than what was allowable in order to bring a higher standard of residential living.
The Union Street development will offer two level terrace homes with one, two or three bedrooms with some including the option of a study. The Rise is a north-facing apartment tower offering studio, one or two bedrooms or two bedrooms plus a study.
At the heart is ‘The Green’ a communal parkland creating a natural space for rest, relaxation and connecting with others.
Masterplanned by renowned master planners Fearon Hay and architects Peddle Thorp Union Green promises to alter the way Aucklanders view apartment and terrace home living.
The development has sold out with construction now commencing.
2. St Marks
Auckland breast surgeon John Harman is shaping a new landmark integrated residential community in one of the city’s most affluent and sought-after suburbs.
His mixed-use St Marks development is positioned in a premium, leafy suburban location on St Marks Road at Remuera, just southeast of the Auckland city centre, and will comprise three separate apartment buildings organised around a central courtyard.
The residential buildings, named The Mac, The Mark and The Grove, will house a total of 48 luxury apartments as well as ground-floor café, restaurant and deli offerings.
A fourth stand-alone building, The Blade, will shield the residences from the road and house commercial offices and professional suites, including Mr Harman’s new state-of-the-art breast clinic.
St Mark’s 48 apartments come in a variety of one-to four bedroom configurations, with The Mac building housing 16 apartments, The Mark nine and The Grove 23. There are also two ultra-premium penthouses crowing the The Mac and The Mark buildings. The generously proportioned residents are unlike anything previously offered in the Auckland apartment market and include flexible outdoor rooms with large glass sliding doors.
3. Grace Victoria Quarter
Within the vibrant Victoria Quarter in Auckland Australia’s Little Projects is bringing a residential project combining sophisticated design with expansive harbour views along with convenience to augment city living.
Grace Victoria Quarter will offer living from smartly designed one-bedroom apartments to premium double-storey ‘sky’ homes.
The project is a result of a collaboration between Little Projects, Auckland-based developer Location Group and designers Cox Architecture.
The 107 apartments start from $540,000 and range up to $2.3 million.
Little Projects’ Fergus Humphries says the opportunity to deliver premium residences required Little Projects, Location Group and Cox Architecture to create a legacy project; exemplifying an aspirational lifestyle that celebrated great design and resort-style amenities.
“Auckland is becoming increasingly sophisticated and Grace Victoria Quarter will demonstrate the beauty and convenience of true apartment living,” he says.
The project is 500 metres from the waterfront which will provide immediate access to key Auckland amenities including Victoria Park, the Wynyard Quarter and Auckland Harbour to the north, CBD retail to the east and Ponsonby to the west.
4. Waterfront Hyatt
A seven-storey hotel is being built by Hong Kong investment company Fu Wah international Group and will be managed by the Hyatt Group.
The $200million luxury hotel will bring the Hyatt brand back to Auckland and provide 195 rooms on on the current Team New Zealand site on Halsey Street, looking out on the Viaduct Harbour and Te Wero Bridge.
$2.5 million will also be dedicated to the development of a new public space and art display around the hotel.
The hotel will also feature a ball room, three restaurants, multifunction room and business centres, entertainment facilities and day spa.
The hotel is designed by Singaporean-headquartered architects AR+D working with New Zealand’s Bossley Architects.
The five-star hotel will be a lead development in the revitalisation of the Wynyard Quarter.
Waterfront Hyatt is planned to open in 2017 with construction commencing shortly.
5. Wynyard Central
Also situated in the regenerated Wynyard Quarter on Auckland’s waterfront, Wynyard Central currently under construction will comprise 113 apartments and townhouses, individually designed to suit different lifestyles.
Wynyard Central is a collaboration between Willis Bond & Co and one of New Zealand’s leading architectural practices, Architectus. Willis Bond was selected as the developer of the project by Panuku Development Auckland (previously Waterfront Auckland), following an international design and tender process.
The first stage of Wynyard central includes three different styles of residences, pavilions, townhouses and apartments, offering a wide selection of contemporary homes. The residences are priced from $1,095,000 for a two bedroom apartment with car park, and $1,460,000 for a three bedroom apartment with car park. One bedroom apartments have sold out.
Wynyard Quarter will have at its heart an urban, waterfront village with a sustainability and design ambition that has not been seen in New Zealand before.
The overall 20-year regeneration of the Wynyard Quarter area is in full swing – it’s strategically located on Auckland’s waterfront and a short walk from the CBD.