Alexandra Park Confirms $140m in Sales with Tower Crane Now

Alexandra Park Confirms $140m in Sales with Tower Crane Now Up

Alexandra Park’s on-site showroom and display apartment has had a busy few weeks since reopening after the Christmas and New Year break with chief executive of Alexandra Park, Dominique Dowding, now confirming $140m in unconditional sales of its high-end apartments with the first of the tower cranes now in place.

The 246 apartments will sit above a new 32,000sqm urban village which is now under construction and is set to open from mid next year in the Auckland Trotting Club’s former Green Lane West car-park.

About 750 residents will live in the one, two and three bedroom apartments which range in size from 67sqm to 216sqm and are priced between $585,000 and $2million.

The development’s terraced houses with rooftop gardens range in size from 166sqm to 205sqm. While the penthouses, between 288sqm and 489sqm, come with expansive Auckland views and just three remain for sale.

With the urban village set to open mid-2017, progress on leasing 5,000sqm split into 19 ground-floor commercial spaces beneath three apartment buildings is progressing well with a unique FreshChoice grocer concept already confirmed. Negotiations are being firmed up with some of the country’s best known and most respected hospitality operators.

Ms Dowding says over 75 percent of the apartments in stage one had sold and about 30 percent in stage two which includes 44 luxury apartments just released in ‘Sightline Green’

“Our showroom’s been open less than a year and interest has been really strong from day one, with literally thousands of people through it. A lot of the early success we put down to the quality product we’re offering and the supreme location.”

Ms Dowding says the apartments ‘freehold title’ status is adding to their appeal, as are low interest rates.

“The fact that they’re elegant, spacious, beautifully designed, well-constructed, as well as in the double grammar school zone makes them a very good investment. What’s more almost all of our buyers so far will be owner-occupiers with most of them already living within five kilometres of Alexandra Park.

“People can see we’re building a quality urban village which adds to the ambiance of a local, strong close-knit community. We’ve put a lot of emphasis on ensuring the project showcases leading Auckland architecture and world-class urban design. We’re getting a lot of empty-nesters buying – people who want to stay in the wider Epsom area but want to downsize and be able to lock-up and leave with little worry,” says Ms Dowding.

Long-time Auckland owned and operated firm Canam Construction is charged with building the urban village, with significant earthworks carried out in recent months.

In fact Canam has removed approximately 30,000m3 of dirt and about 2,500m3 of basalt rock. However Canam’s Managing Director, Loukas Petrou, says their environmental practices will ensure this project has a lighter carbon footprint.

“With the removal of the rock, we’ve been crushing it on site so it can be used as backfill behind retaining walls and under the basement slabs. This only adds to the focus Alexandra Park has placed on environmental sustainability for the whole project,” he says.

Mr Petrou says the construction is progressing well with Canam’s latest work focused on establishing the foundations and underground basements. He acknowledges with volcanic rock beneath it is always challenging.

“Given the complexity and unpredictability of the basalt flows there has been a lot of complex work associated with the foundations and the lower basement levels.

“We’ve had to construct two large underground basement car parks but once we are out of the ground the public will soon see the structures rising up on Green Lane West. The buildings will then be constructed reasonably quickly led by two big tower cranes,” says Mr Petrou.

Ms Dowding says Alexandra Park expects to break $155m sales in the coming weeks, helped by the fact that people can now literally see a whole new village being constructed before their very eyes.

ENDS

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