New Waterfront Developmnt Planned For Port Ahuriri

News Release 24 June 2005

NEW THREE-STAGE WATERFRONT DEVELOPMENT PLANNED FOR PORT AHURIRI

Globe Holdings, responsible for the West Quay development currently under construction on Port Ahuriri’s West Quay, will publicly launch another Napier waterfront development, the Ahuriri Quadrant on 30 June.

Construction of the first stage of the three stage development, The Terraces, is scheduled to begin in the first week of October. The Ahuriri Quadrant development brings together a number of current sites on the corner of Pandora Road and Humber Street in Port Ahuriri.

Leading architectural practice Craig Craig Moller, which was also responsible for the West Quay development, has designed The Terraces together with the masterplan for the Ahuriri Quadrant development.

“West Quay generated significant interest throughout the country with 89 of the 105 apartments being sold to date. Construction of West Quay is due to be completed by December 2006. We expect the Ahuriri Quadrant development to be similarly successful with 15 of The Terraces 37 townhouses already pre-sold,” said Andrew Fawcet, Director of Globe Holdings.

The Terraces has been valued by international valuers Axion Rolle at $17,250,000. Purchasers have a choice of one bedroom, two bedroom, two bedroom and a study, or three bedroom townhouses. All have double garaging except the one bedroom dwellings which have a single garage.

The Craig Craig Moller design for The Terraces features a central village green with private gardens or decks for each townhouse around its perimeter. Security will be assured by fencing and security gates between the townhouses’ private outdoor spaces and the communal landscaped areas.

Planning for the two subsequent stages of the Ahuriri Quadrant is now underway. The second stage, The Waterfront, will comprise two and three bedroom apartments all with spacious balconies and views over Ahuriri Harbour. The proposed third stage, The Lodge and Retail, will include serviced apartments around a central landscaped courtyard, and a wine centre and cellar with its own café/restaurant.

“Waterfront sites are becoming sought after as people come to appreciate the premium such property can command. They are also increasingly recognising the inherent value of developments such as the Ahuriri Quadrant that combine a waterfront site with spacious purpose-built apartments incorporating innovative design, and quality materials and fittings.

“Our objective for the Ahuriri Quadrant is to make the most of this inner harbour site that provides a lifestyle choice of either waterfront apartments or terrace houses, of the highest quality with private outdoor spaces and secure garaging.”

Globe Holdings’ developments have been recognised for the high quality of their design and architecture and have won two prestigious awards; the ‘NZIA 2003 Wellington Urban Design Award’ for The Waterfront Seatoun development; and the ‘NZIA Resene Local Award for Architecture in Multiple Housing for the Inner City’ Croxley Mills apartments on Frederick Street, Wellington.

Other developments undertaken by Globe Holdings include the eight-level Trinity apartments under construction on Wellington’s College Street, Latitude 41; a waterfront development on Nelson’s Wakefield Quay, and The Summit on Molesworth, a 10-level premium apartment complex near completion in Thorndon, Wellington.

Craig Craig Moller, the architectural practice chosen for The Terraces, is known for its work which includes the Wellington Airport terminal, Victoria University’s School of Architecture building, Auckland’s Sky City, the Macau Entertainment Centre, Wellington’s Mary Potter Hospice, The Point apartments in Auckland’s Viaduct Basin, and the redevelopment of the Municipal Building in Wellington’s Civic Square.

Globe Holdings is marketing The Terraces in conjunction with well-known Hawkes Bay real estate specialist Kelvyn Collins of Colliers International.

“Hawkes Bay provides an enviable lifestyle and many people, including New Zealanders returning from overseas, are choosing to work, retire or simply spend more time in the region, and they want quality accommodation that matches their aspirations. The Terraces, like our West Quay development, has been conceived and designed to meet this need, which means these properties should continue to appreciate while their residents enjoy one of Hawkes Bay’s most sought after locations,” Mr Fawcet said.

ENDS

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