Half Parkview Residences sold as completion nears

Parkview Residences in Auckland have sold as the development moves to the completion date of November.

Half the Parkview Residences in Rendall Pl, Auckland have sold as the development moves to the completion date of November.

Of the 48 studio, one-bedroom, two-bedroom and three-bedroom apartments, 26 have been sold at an average price of $8000/m2 to $9000/m2, excluding car parking.

The property developer behind Parkview Residences is New Sun Group, which also developed the Balfour Rd project in Parnell. 

The director and shareholder behind New Sun Group is Xia Lu.

It is accepting deposits of $1000 and the balance of 10% of the purchase price within 10 working days of signing an agreement for sale and purchase, pending final settlement upon completion.

New Sun Group says demand has been strong since marketing began by Barfoot & Thompson, and that the two-bedroom apartments are the most sought-after. 

Buyers are primarily older couples downsizing from larger family homes and urban professionals, with a smaller proportion comprising local and international investors.

Some buyers and visitors are reportedly lured by the dog-friendliness of the complex next to Basque Park and this features in advertising.

Others cite the school zone and the proximity of Mt Eden, Kingsland and Newmarket.

Construction is being managed by Arrow International and architectural plans by Ashton Mitchell. 

The apartments range in size from 42m2 to 181m2. Prices begin at $350,000 for a studio apartment and rise to between $414,000 and $507,000 for a one-bedroom, between $550,000 and $1.04 million for a two-bedroom, and approximately $1.6 million for the sole three-bedroom apartment.