Development of Auckland's old council HQ into iconic CAB apartments is already more than half sold.
Situated in the heart of the city, and within walking distance of the Auckland Art Gallery, the first skyscraper in New Zealand is now being painstakingly converted into 118 luxury freehold residences.
With a starting price of just over $600,000, there are options for everyone – from first home buyers and larger families to wealthy expats wanting to experience life in the central city.
Developer John Love of Love & Co says The CAB development (an acronym of the building’s original name, Auckland Council’s former HQ, the Civic Administration Building) represents a significant move forward when it comes to what people typically think of inner city apartments: “It’s the first masterplanned, owner-occupier-focused high-quality development in the inner-city area,” he says. “It’s even pet friendly.”
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He believes this section of the city has now come of age with the development of the City Rail Link, a makeover and expansion of the Aotea Centre and with Queen St, Britomart and Ponsonby only a short walk away.
“It has a quiet, peaceful, green city fringe feeling although it is actually part of the CBD. There is so much open space around the apartments and so many trees and parks, it’s such a great location – but you don’t have to mow the lawns or weed the gardens…”
There is a commitment to quality in this development, with a 100 per cent New Zealand-based supply chain, builder and consultant team and the best materials used throughout.
The building also has a 100 per cent seismic rating, indicative of the extremely high standards of the building to begin with – one of the advantages of re-using an existing quality structure, he says: “They certainly don’t build them like they used to.”
The interiors and exteriors of the building are being stripped back completely to a bare steel skeleton and, with new solid concrete floors (for excellent acoustics) and double glazing (for thermal efficiency) it is effectively a new build, inside and out.
The 2.7m stud and expansive floor-to-ceiling windows create a sense of generous proportions and spaciousness within these light-filled apartments.
The bedrooms and living spaces have been designed to offer a generosity not previously seen in inner city apartments spacious and breathtaking views are pretty much standard. The development is clearly aimed at being an urban sanctuary right in the heart of Auckland’s art and culture precinct.
All the bathrooms feature heated floors, designer tapware and more than ample storage. The kitchens are perfectly designed for inner city entertaining, featuring high quality Bosch appliances with a Miele upgrade available. There will also be a heated swimming pool, gym, and even a private movie theatre on site.
Grant Dickson from Ray White Projects says over 50 per cent of the residences have been sold off plan already. With a completion date of mid-2021, he says that the “stars have really aligned” for those wishing to buy.
“There are record low interest rates and no capital gains tax. People are realising it’s a good time to buy great property. But they need to move quickly as high quality inner city apartments like these are few and far between.”
One bedroom apartments will sell for $620,000 and for $828,000 for two-bedroom dwellings. Three-bedroom apartments are available for just over $1.8 million and the full floor Sky Garden Penthouse is on the market at $15m, with a huge open central courtyard being a feature of “this one of a kind home”.
Dickson says there are great opportunities for a wide range of owner-occupiers; The CAB appeals to many, whether those looking for a central city “bolt hole” or someone wanting a no-maintenance permanent home.
He says the development is well under way with trusted builder Naylor Love in full swing. The developers are highly experienced with an established track record of excellence: “They have just created a fantastic new display suite where you can take a virtual tour of your new apartment on site.”
“The CAB is a fantastic place to live, so my message to people considering a new home is to visit The CAB display suite now – the dedicated team is there, ready to help, seven days a week.”
