Office to residential conversion

[lovethatview]

Hi All - hoping for some direction.

We are looking at purchasing a floor of an office building in Central Auckland (155 sqm held on a strata title). The building is 8 floors, each is owned separately and occupied by both offices and residential uses (unclear if the residential units are permitted). We are thinking of purchasing the floor to convert to residential. We will need to pay GST on the purchase price of the apartment. We are looking for someone to advise on permitting process, cost of conversion etc. Two questions:

1) Would a QS or a Project Manager be better to appoint to help us?
2) We have penciled in $2,000 psm or $310,000 as a comprehensive budget for conversion - does this feel right to anyone with experience of this type of work?

Thanks very much for any comments or feedback.

[John the builder]

a lot depends on whether this is a change of use?

This MBIE doc might be useful.

https://www.building.govt.nz/assets/Uploads/managing-buildings/changing-or-assessing-building-use-in-canterbury/change-of-use-guidance-ccc.pdf

[Davo36]

Lot to think about here. A LOT.

First thing is to find out if you can convert it. Ask the BC about that.

I'd say $310k for construction, plans etc. Council stuff on top. Reserve contribution, development contribution etc.

[donna]

As Davo36 says there's more stuff on top that needs to be factored so you need a reserve fund of min. 10%

cheers,

Donna