1C 30 Westward Ho
Glen Eden, Waitakere City
Glen Eden, Waitakere City
SOLD
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A Positive Approach
This unit is in a building that needs to be repaired. Like many places in Auckland, the 1990's type cladding has to be replaced because it leaks.
The Architects impressions of the renovated building are the photograph. Timelines are still up in the air but you will most likely be able to receive rent until September, at which point the entire building will close for around 12 to 14 months.
Owners have voted to fully enclose all balconies as part of the rebuild, adding approximately 9m2 to the floor area of this unit because it is a corner unit. This will create a very large, single bedroom unit of approximately 53m2 floor area.
Projected costs are still at the "educated Guess" stage, until drawings are done and permits applied for, but they suggest around an average of $250,000 - $280,000 per unit (including the FAP subsidy from Government). At this point this means that at the end of the project you will have much larger, renovated unit for around $300,000 to$330,000 (when you add purchase price to the rebuild cost)
Please note: That this means you buy the unit and then pay an estimated extra $250K to $280K in perhaps June or July. Payments for the rebuild are up front and there is no provision for time payment
What do you think an almost brand new unit with swimming pool and gymnasium will sell for in Auckland next late next year? People are buying these because of the potential capital gain!
Features
• A Double bedroom that will increase in size with the rebuild
• A large lounge that will also increase in size with the rebuild (Note it is on a corner so grows more than the average unit in lounge floor area)
• A second room that has no external window but is an ideal small office or media/games snug or storage room.
• A galley kitchen leading into the Lounge and
• A combined Bathroom and toilet
• Free use of the Pool and Gymnasium. The pool was only finished in December 2020.
Are you interested in investing in this opportunity?
The Architects impressions of the renovated building are the photograph. Timelines are still up in the air but you will most likely be able to receive rent until September, at which point the entire building will close for around 12 to 14 months.
Owners have voted to fully enclose all balconies as part of the rebuild, adding approximately 9m2 to the floor area of this unit because it is a corner unit. This will create a very large, single bedroom unit of approximately 53m2 floor area.
Projected costs are still at the "educated Guess" stage, until drawings are done and permits applied for, but they suggest around an average of $250,000 - $280,000 per unit (including the FAP subsidy from Government). At this point this means that at the end of the project you will have much larger, renovated unit for around $300,000 to$330,000 (when you add purchase price to the rebuild cost)
Please note: That this means you buy the unit and then pay an estimated extra $250K to $280K in perhaps June or July. Payments for the rebuild are up front and there is no provision for time payment
What do you think an almost brand new unit with swimming pool and gymnasium will sell for in Auckland next late next year? People are buying these because of the potential capital gain!
Features
• A Double bedroom that will increase in size with the rebuild
• A large lounge that will also increase in size with the rebuild (Note it is on a corner so grows more than the average unit in lounge floor area)
• A second room that has no external window but is an ideal small office or media/games snug or storage room.
• A galley kitchen leading into the Lounge and
• A combined Bathroom and toilet
• Free use of the Pool and Gymnasium. The pool was only finished in December 2020.
Are you interested in investing in this opportunity?
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