Te Aro apartments

MORE THAN half of the 51 apartments in a groundbreaking new Te Aro development already have sold or are on hold.

Construction of Habitat, at 47-49 Vivian St, is due to start mid-year, with the dual-key, and one- and two-bedroom units ready for occupying by the end of next year.

The apartments range in size from 50 square metres to 76.7sqm, and are selling from $475,00-$811,000.

‘‘They will combines views, versatility and convenience in a location that’s sought after for its proximity to everything that makes Wellington ‘the coolest little capital in the world,’’’ Matt Thorn, of Lowe & Co Realty, says.

He expects the apartments to appeal equally to investors and homebuyers.

‘‘Their rentals have been assessed from $565 a week for a one-bedroom unit to $1020 for the dual income options. So the gross returns will be between 5.37 per cent and 6.81 per cent.’’

A dual-key option combines a one-bedroom apartment with a self-contained studio apartment with its own entrance, small kitchen and bathroom.

‘‘It’s a great home-and-income option for first-home buyers as it provides them with an income to help off-set the mortgage,’’ Thorn says.

‘‘It’s also perfect for couples who have lots of friends and family they want to accommodate when they come to town.’’

He says the apartments will be popular with owners-occupiers and tenants alike because they’ve been designed to meet the lifestyle needs of Wellingtonians who love to walk and cycle everywhere.

‘‘They’ll be in the epicentre of the cafe´ and culture heartland.

‘‘Wellington’s best theatres, bars and restaurants virtually will be on the doorstep and they’ll be within easy reach of the waterfront, town belt and Oriental Bay.’’

He says the highly specified apartments will stand out for their exterior – concrete sheer walls and terracotta tiles – and will offer a choice of city and harbour views in all directions.

Each will have a deck with perforated metal balustrades and those without decks will have Juliet balconies.

Kitchens will be fitted with Fisher & Paykel and Blanco stainless steel appliances, and bathrooms with custom-made wall-mounted vanities and fully-tiled showers.

The apartments also will have LED lighting, Sky TV wiring, Cat6 high-speed data cabling and heavyduty carpet.

‘‘There will even be provision for electric bike charging for residents as well as internal bike storage,’’ Thorn says.

Buyers only have to pay a 10 per cent deposit and Thorn says if it’s their first home, they may be eligible for a City Council rates rebate worth up to $5000.

Details

ADDRESS Habitat, 47-49 Vivian St, Te Aro AGENT Matt Thorn, phone 027 553 7848 VIEWING By appointment.