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Plans for Nelson’s most expensive apartment block unveiled

Media Release

8.11.2016


Plans for Nelson’s newest and most expensive apartment block, Saltwater Creek, have been unveiled as units go on the market for sale.

Plans for Nelson’s most expensive apartment block unveiled

Plans for Nelson’s biggest and most expensive apartment block have been unveiled - as the upmarket new central city residences are placed on the market for sale.

Some 32 apartments ranging in size from 37-square metres one-bedroom units through to the top floor 144 square metre three-bedroom and office/media room homes are on offer at the $30 million Saltwater Creek apartment complex on Haven Road overlooking Anzac and Rutherford parks.

Prices in the condominium will range from $395,000 to $1.95 million. Construction on new four-storey complex is scheduled to start in April next year once 70 percent of apartments have been pre-sold, with apartments planned to be ready for occupancy in the last quarter of 2018.

Construction of the block is being undertaken by Nelson-based Saltwater Creek Investments, with units being sold through Bayleys Nelson.

Bayleys Nelson salesperson Nina James expected to have 25 percent of the 32 apartments quickly sold by the end of the year. The Saltwater complex is just 400 metres walk from Nelson’s central business district.

“As a $30 million project, this is easily the most expensive apartment block in Nelson – a fact reflected in not only the quality of the build and the fit-out of the apartments, but also their location,” Ms James said.

“Saltwater Creek was initially targeted in its conception phase at the ‘empty-nester’ category – couples aged 50+ whose children have moved out and they no longer require the big lifestyle block on the outskirts of town.

“However as the project has progressed, we’ve also had a number of registrations of interest from the rural sector – again, the likes of farmers and horticulturalists who have worked the land over the decades, but with no family succession plan they are looking to sell up and use the equity from their business disposal to relocate into the city environs.

“We also anticipate selling a number of the two bedroom units as ‘city pads’ to those in the corporate and professional services sectors who work in Nelson during the week but whose main residential address is in the likes of Golden Bay, Buller or up in the Sounds.”

Ms James said the Saltwater Creek complex would be serviced by two levels of parking for 39 vehicles accessed off the Haven Road one-way system. The upper-level apartments will be served by four separate boutique glass-encased elevators facing out toward Rutherford Park.

“The specifications for apartment fit-outs are very much aimed at the top-end of the market, and include the likes of European bathroom and kitchen fittings and appliances, European floor tiling, and LED lighting,” she said.

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