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  1. #1
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,870

    Default 5 Story Appartment Block - cost to build ?

    So what does it cost to build a 30 appartment block complex about 5 stories high these days ??

    50m2 appartments.

    How high can you go without lifts ?

  2. #2
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,305

    Default

    Wait, gimme 5 minutes, I'll work it out...

    Mate, this is an impossible question to answer. Other than "A lot."
    Squadly dinky do!

  3. #3
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,870

    Default

    Quote Originally Posted by Davo36 View Post
    Wait, gimme 5 minutes, I'll work it out...

    Mate, this is an impossible question to answer. Other than "A lot."
    Under 2m, 2m to 4m, 5m to 10m

  4. #4
    Join Date
    Dec 2007
    Posts
    887

    Default

    5 storeys with no lifts? Who'd want to live there?

    I think the $6000 per sqm rate was being bandied about a couple of years ago by CBD apartment developers.

  5. #5
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,870

    Default

    Quote Originally Posted by AMR View Post
    5 storeys with no lifts? Who'd want to live there?

    I think the $6000 per sqm rate was being bandied about a couple of years ago by CBD apartment developers.

    Thats just building, not land ?

  6. #6
    Join Date
    Dec 2007
    Posts
    887

    Default

    Hmm...that was the "replacement cost".

    Rawlinsons has a square metre rate for building specficially.

  7. #7
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,305

    Default

    I know someone who is pricing a 3 level apartment block in South Auckland right now.

    They have engaged a QS and it is taking weeks and weeks of work.

    It's quite variable from site to site too:


    • Parking: Under the building? Outside? How many per apartment?
    • Hallways: Internal or external?
    • Windows: Need to provide a window in each bedroom and living area, how will this be laid out?


    And then there's all the other unknowables like resource consent conditions etc.
    Squadly dinky do!

  8. #8
    Join Date
    Jul 2010
    Location
    Auckland City, why invest else where?
    Posts
    984

    Default

    For the large amount of capital required to build this thing, might as well use it as deposit and buy many 2nd hand homes available now, and ride the current property boom over the next 2-3 years.

  9. #9
    Join Date
    May 2008
    Location
    Torbay, Auckland
    Posts
    3,870

    Default

    Quote Originally Posted by NovInvestor View Post
    For the large amount of capital required to build this thing, might as well use it as deposit and buy many 2nd hand homes available now, and ride the current property boom over the next 2-3 years.
    I just realised my crossleased property (on a 2,000m2 site with 3 other houses) is in the new plan is zoned for 4 story appartments in south auckland and has services close, as well as wide enough frontage to do it.
    So I am buying another 1 on that site today.

    Then I can buy the other 2 out.

    In four years time, when Unitary Plan comes into affect, I can build 4 levels of appartments, say 24 ?
    Or just sell the concept.

    I have been looking at buying properties that could be amalgamated for apartment building, and had a few looks and almost bid on two.
    And then I realise today, that I already own land with that "Proposed" zoning, funny aye.

    Its all good fun, I might even get to play the evil developer sending the heavies around to beat up on some veteran aged property investor who refuses to sell to me

  10. #10
    Join Date
    Jul 2010
    Location
    Auckland City, why invest else where?
    Posts
    984

    Default

    Haha hopefully by then some rich developer wants to pay you truck loads and buy the whole lot from you, then save you having to build it yourself.

    And you will be rich and take all of us out for a steak dinner =)


 

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