Angry Auckland apartment owners are rallying against a 470 per cent leasehold land bill rise.
Scene Three owners, previously paying $1400/unit annually for one-bedroom places, are now faced with $8000/unit bills payable to landowner Ngati Whatua o Orakei Maori Trust Board which this year won a valuation arbitration on its Quay Park land, allowing it to charge much higher fees.
Kelvin Horspool, an investor with a one-bedroom Scene Three apartment in the 164-unit block, has started a support group.
About 40 to 50 owners want to force changes so their bills are cut but they are also upset about the legal management structure, fearing the once-desirable 16-level Beach Rd block near the Countdown will deteriorate.
Apartment owner Richard Lamb had dire predictions, after Scene Three's penthouse unit 1601, with a $625,000 CV, sold for $330,000.
Lamb bought his apartment two years ago for 60 per cent of CV, a reflection he said of leasehold bill uncertainty.
Scene Three owners, previously paying $1400/unit annually for one-bedroom places, are now faced with $8000/unit bills payable to landowner Ngati Whatua o Orakei Maori Trust Board which this year won a valuation arbitration on its Quay Park land, allowing it to charge much higher fees.
Kelvin Horspool, an investor with a one-bedroom Scene Three apartment in the 164-unit block, has started a support group.
About 40 to 50 owners want to force changes so their bills are cut but they are also upset about the legal management structure, fearing the once-desirable 16-level Beach Rd block near the Countdown will deteriorate.
Apartment owner Richard Lamb had dire predictions, after Scene Three's penthouse unit 1601, with a $625,000 CV, sold for $330,000.
Lamb bought his apartment two years ago for 60 per cent of CV, a reflection he said of leasehold bill uncertainty.
Comment