Ad ID: 57441

Apartment Business for Sale Auckland

Apt 809 wide views, beach village

Business Description

Apartment Business for Sale Auckland

Elevated with great views over Orewa Village to the coast and around into the hill. Sunny one bedroom with study, open plan kitchen and dining.The apartment is a 68m2 one bedroom unit with balcony and wide views including ocean view. It has a full kitchen open plan to the lounge area. It is unfurnished and is suitable for use in the Nightly Stays income group, for Long Term Rental or for Personal Occupation. It could therefore be your holiday spot, an investment or your permanent beach village home.The title is CT107452, Stratum in Freehold, Lot 8I, Accessory Units 145 & 146, Storage unit S58 and 1/150th share of Accessory Unit 1, DP 326421The current CV is $260,000 (Land value $165,000 Improvements $95,000)Body Corporate $3565.84 paCurrent Rates are $1273.30 paThe Nautilus is the iconic one and only existing high rise development right in Orewa Beach Village. It has facilities for the occupants of heated lap pool, spa, sauna and gymnasium. In easy walking distance are Cafes, Restaurants, Supermarkets, Medical, Beach and walking or cycling tracks.The building is approximately eleven years old and has concrete floors, steel beams, treated timber and steel frame partitions and composite aluminium cladding. The owners have been through a six year protracted claim process and have won a substantial settlement over issues to do with the cladding, waterproofing and workmanship. The funds are in the bank and repairs are about to commence November 2016. Repairs are expected to take up to two years in total with one quarter of the building being fixed at a time (this detail to be further clarified as the building schedule is developed). There will therefore be a period of time for each apartment where occupancy will not be possible whilst local repairs are carried out.Claim funds of over $23m were awarded. The full judgement that includes details of all the works required can be read here: http://raineylaw.co.nz/assets/body-corporate-326421--anor-v-auckland-council--ors-civ-2009-404-008136-....pdf
Printed copy can also be made available to registered prospective purchasers.Repair funds held in trust for this apartment's repair (before interest gained) are noted as $140456.07. All these figures will be confirmed as part of any purchase process.We have been advised by the Vendor of their intention to leave in the repair claim funds required by Body Corporate. Any escalation or future costs would then be the responsibility of the Purchaser.Please feel free to ask further questions and to carry out recommended due diligence, we will assist wherever possible.The apartment is a 68m2 one bedroom unit with balcony and wide views including ocean view. It has a full kitchen open plan to the lounge area. It is unfurnished and is suitable for use in the Nightly Stays income group, for Long Term Rental or for Personal Occupation. It could therefore be your holiday spot, an investment or your permanent beach village home.The title is CT107452, Stratum in Freehold, Lot 8I, Accessory Units 145 & 146, Storage unit S58 and 1/150th share of Accessory Unit 1, DP 326421The current CV is $260,000 (Land value $165,000 Improvements $95,000)Body Corporate $3565.84 paCurrent Rates are $1273.30 paThe Nautilus is the iconic one and only existing high rise development right in Orewa Beach Village. It has facilities for the occupants of heated lap pool, spa, sauna and gymnasium. In easy walking distance are Cafes, Restaurants, Supermarkets, Medical, Beach and walking or cycling tracks.The building is approximately eleven years old and has concrete floors, steel beams, treated timber and steel frame partitions and composite aluminium cladding. The owners have been through a six year protracted claim process and have won a substantial settlement over issues to do with the cladding, waterproofing and workmanship. The funds are in the bank and repairs are about to commence November 2016. Repairs are expected to take up to two years in total with one quarter of the building being fixed at a time (this detail to be further clarified as the building schedule is developed). There will therefore be a period of time for each apartment where occupancy will not be possible whilst local repairs are carried out.Claim funds of over $23m were awarded. The full judgement that includes details of all the works required can be read here: http://raineylaw.co.nz/assets/body-corporate-326421--anor-v-auckland-council--ors-civ-2009-404-008136-....pdf
Printed copy can also be made available to registered prospective purchasers.Repair funds held in trust for this apartment's repair (before interest gained) are noted as $140456.07. All these figures will be confirmed as part of any purchase process.We have been advised by the Vendor of their intention to leave in the repair claim funds required by Body Corporate. Any escalation or future costs would then be the responsibility of the Purchaser.Please feel free to ask further questions and to carry out recommended due diligence, we will assist wherever possible.
Ref: NL00038
Timestamp: 20161208054551

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