Construction of a five-level building containing 29 luxury apartments on the last prime waterfront site in Viaduct Harbour is due to finish in June.
The apartments range in price from about $500,000 to nearly $3 million and are on a perpetual ground lease with rent reviews every seven years. Principal Nigel McKenna of developer Melview Developments says the ground leases have been set at market levels so there will be no surprises for apartment owners when their first rent review is due.
The project is on private land adjacent to Team New Zealand in Halsey Street and is called Lighter Quay. The land was formerly known as the log farm in recognition of its principal activity during the early 20th Century. McKenna says the apartment area is Viaduct Harbour’s final and most exclusive private land holding with water frontage.
The project was delayed following New Zealand’s successful America’s Cup defence in 2000 after landowner Viaduct Harbour Holdings agreed to make the area available to visiting overseas yatching syndicates. It includes 1.6ha of reclaimed land in Halsey St – till recently, occupied by four overseas syndicates for the 2003 Louis Vuitton Cup series.
The America’s Cup base is on public land, which is subject to planning by the Auckland Waterfront Advisory Group. The apartment building represents phase one of the Lighter Quay development, a proposed four-stage project by Melview Developments. Plans for Lighter Quay include the luxury apartment block, three other apartment buildings, a row of three-storey ‘pavilion’ homes and a luxury boutique hotel and condominiums.
The buildings will surround a proposed private waterway controlled by a lock system. The proposed lock is a first for Auckland. While its design is yet to be finalised, the public will be able to view the lock and will be able to walk across it. The apartments are double-sided with typically 15sqm north-facing decks providing views over the America’s Cup bases and the harbour beyond, and south facing decks providing urban views towards Victoria Park and the CBD.
Much of the site has dual water-frontages and there are a limited number of marina berths available on the inner water space. Immediately adjacent, on the eastern waterside boundary, some marina berths will be available for lease.
A walkway surrounds the development, ensuring members of the public can still stroll from the Maritime Museum on the Eastern Viaduct right around to ‘syndicate row’ where Team New Zealand has its base. Architects are Studio of Pacific Architecture in Wellington and Peddle Thorp Architects of Auckland.
The builder is Multiplex Constructions (NZ) Ltd in Auckland. The master marketing agent for stage one is Bayleys Real Estate. Melview Developments was established by Nigel McKenna initially in Wellington and has been heavily involved in the redevelopment of the Viaduct Harbour waterfront including The Quays and a joint venture to develop The Sebel Hotel.
