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  1. #1
    Join Date
    Aug 2010
    Posts
    100

    Default Merchant Quarter New Lynn

    http://www.nzherald.co.nz/business/n...ectid=10861959

    Any comments from senior members about this project

    this is the sort of thing that happened in some run down suburbs of Manchester UK relatively close to the CBD will it work in New Lynn?
    Last edited by d2ba; 02-02-2013 at 12:30 AM.

  2. #2
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,447

    Default

    I've been to the sales office, spoken to the guy there about the development etc.

    How will it turn out? I don't know, it's so hard to say. They unit are pretty pricey, there's 110 of them, with 44 carparks also for sale separately at $35k each.

    Cheapest 1 bedder is $246k, most expensive 3 bedder is around $400k from memory. They want a 10% deposit to secure one and they had sold 5 when I was in there last week.

    Lots of interest from asian people on the day I was there.

    I dunno, it may not even get off the ground, I assume they need a certain amount of pre-sales first.

    I think if it goes ahead it would be quite a smart development initially. What will it be like in 20 years? Who knows, I don't think anyone can answer that.
    Squadly dinky do!

  3. #3
    Join Date
    Aug 2010
    Posts
    100

    Default

    Here is the retail info
    Area: 90 – 750 sqm

    Net rent: By negotiation with the Landlord

    Outgoings: Indicatively $50/sqm plus GST pa [inclusive of Rates] for the 2013 year

    Available: Scheduled to open Feb/March 2013

  4. #4
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,447

    Default

    Great to have the council developing retail units and office space isn't it?
    Squadly dinky do!

  5. #5
    Join Date
    Feb 2013
    Posts
    427

    Default

    Likely to get the interest of Chinese investors, I imagine easy to lease to HNZ tenants, and just easy to rent out in general, I imagine you'll get a mix of owner-occupiers and tenants, New Lynn is a difficult one though it does have an excellent public transport system, shopping centre, gym etc all right on your door step.
    When it's put like that it sounds perfect, not having to have a car and having everything right on your door step but I'm not sure if you're going to get people who have money like $400K for a 3 beddy unit when New Lynn people wise hasn't cleaned up its act, just a few months ago I was out there by the train station and there's the typical New Lynn folk acting like they run the place. But with suburbs like Glen Eden (up and coming) and Titirangi all surrounding New Lynn's border something has to be about New Lynn.

    I just hope it works because Glen Eden is next on my list to look at investing in.


 

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