Leaky Buildings

[eri]

luna apartments

16 burton st

Freehold Luna apartments were built in the Year 2005. The sale price of this apartment sitting on the 3rd floor has been taken into full consideration given this is a remedial building due to start work late July this year.

http://www.trademe.co.nz/property/re...1262284845.htm

[eri]

leasehold + leaky

3yrs repair

no rent in but rising ground rents out

One of Auckland's largest leaky building repairs is half-way through, as dozens of contractors fix the rotten Parnell Terraces in a $20 million-plus building job spread across three years.

"We knew that opening up these buildings would be like a can of worms. There's a lot more damage than we ever expected because there's fire issues as well.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11927218

i'd be happy if the serious fraud squad

went after these guys

after taking "ill gotten gains" from the headhunters

[Beano]

leasehold + leaky

3yrs repair

no rent in but rising ground rents out

One of Auckland's largest leaky building repairs is half-way through, as dozens of contractors fix the rotten Parnell Terraces in a $20 million-plus building job spread across three years.

"We knew that opening up these buildings would be like a can of worms. There's a lot more damage than we ever expected because there's fire issues as well.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11927218

i'd be happy if the serious fraud squad

went after these guys

after taking "ill gotten gains" from the headhunters

http://www.nzherald.co.nz/business/n...ectid=11927218
Do you own a unit in this complex eri ?

[eri]

hell no!............

[Beano]

hell no!............

About 4 years ago I had the option of buying a leasehold (lessees) unit at 2.7pc Net yield or the freehold (lessors interest) at 6.5pc .
Both supported by a valuation from the same valuer.
One complex again a leaky building estimated cost to repair $100k per unit.
As a investor it was a "no Brainer" which offered the best value !