Residential development sells out in six weeks

Residential development sells out in six weeks

Botanica - a new 67 apartment development in Mt Eden, Auckland, marketed by Colliers International and developed by Residentiae – has sold out within six weeks of launching to the public.

Residentiae is a joint venture of two well-respected names in the property industry, McDougall Reidy and Haydn & Rollett, that is establishing a residential arm to its highly successful industrial and commercial activities.

Jeff Davidson, Colliers International’s director of Residential Project Marketing, says purchasers for Botanica came from across the market spectrum.

“Owner occupiers, first home buyers seeking affordable entry points to the housing market, investors and downsizers all found something within the development.”

The appeal of ‘off the plan’ prices in this current market was also a significant attraction for buyers says Davidson.

“The fact that ‘off the plan’ prices are set means buyers can plan their purchase with confidence and not face the variables, and often disappointment, of being outbid at auction.

“Incorporating a wide variety of product types and sizes through clever design within the development made the buyers’ process even easier.”

Botanica’s Mt Eden location is also very attractive to a wide range of purchasers, and securing the Special Housing Area status for the site means consent approvals are achieved within required timeframes providing certainty for purchasers.

Davidson says the transformation of the site from industrial to residential was achieved through the architect’s intent of a building offering a green oasis within a hard urban landscape.

Residentiae also adopted a very sustainable building approach to achieve a Homestar 6 rating for the development.

“This endorses the low ownership costs of Botanica apartments,” says Davidson.

Botanica’s proximity to Auckland’s CBD and Mt Eden’s superb range of design retail, dining and entertainment outlets, along with the excellent transport options and great school zones are also significant selling points.

ENDS

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