Wake up, it’s time to buy new apartments
Historic Braeburn Apartments: Opportunity knocks for investor
One of Whanganui’s most recognisable and historic buildings is for sale. The Braeburn Apartments at 15 Putiki Drive hit the open market on Friday, March 26, for the first time in more than 60 years.
Originally built as the Braeburn Hotel in 1915 for a syndicate of journalists, the building is a Category 2 Historic Place. It was considered to be one of the most imposing private hotels in the country at the time.
Perched on the banks of the Whanganui River, the building has 20 individual apartments with sitesecure parking for 12 cars together with an eight-car garage accessed from the street. Significant restoration has gone into the building over the years, including full insulation and a monitored fire alarm system.
Twin brothers Brad and Mel L’Huillier purchased the property privately in 1987 and are moving on as they head into retirement. Mel said they moved from Bulls to Whanganui specifically for the building.
“We waited 10 years to buy it. We waited and waited and finally they could sell it and they took our house in Bulls as a part payment. We started on the place when we were in our late 20s.”
The twins lived in the building until about six years ago and had loved the entire experience, Mel said.
“We liken it to the movie The Best Exotic Marigold Hotel. The tenants are all friends. It’s home for them, it’s not a place they just rent. It’s home to a group of people that all get along. They have coffee in the morning and drinks at night.
“It’s sort of become the place we always wanted it to be.”
While they still loved the building, the twins felt it was time to pass it on to someone with the same passion.
“It needs to go to someone who cares about the building as much as we do. It’s an important legacy for the town and even New Zealand — there is nothing quite like it.”
The L’Huilliers won’t be short of things to do once they part with the building.
“We have a big ol’ house on the river that we are restoring. We have three cars in the restoration process and a boat on the front lawn. I just hope someone comes along that loves it for what it is because it is pretty special.”
Bayleys realtor Lewis Townshend said it was an honour to be involved in the selling process.
“It is such a landmark property in Whanganui, everyone knows it. It has some great street appeal and it is very logistically sited. The views are unbelievable from the open balconies, both up and down the river and out to sea.”
Townshend said the building presented a great opportunity for an investor or someone who was looking for a place they could live in and bring in an income. “It’s so unique. Bearing in mind that it was a hotel and has been converted into apartments, it just has this wonderful feel about it with the materials that were used in the original construction. It’s quite exclusive and it is just so different. It’s amazing, it really is.”
Mel said the historic building should be around for another 100 years and for the next generation to enjoy.
“Everyone knows the building. It’s an iconic building. It’s a part of Whanganui. People need to know it is on the market and it’s on the market for someone who will appreciate it.”
The building is for sale by tender, closing on Friday, April 30, at 4pm.
We liken it to the movie The Best Exotic Marigold Hotel. The tenants are all friends. It’s home for them, it’s not a place they just
rent. Mel L’Huillier