Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Last apartment in Bay of Islands marina development on sale


The final remaining residential waterfront apartment overlooking Northland’s latest marina at Opua in the Bay of Islands has been placed on the market for sale.

Media Release
1.11.2017
Last remaining apartment in Bay of Islands marina development goes up for sale

The evolution of Northland’s latest marina is almost complete – with the final remaining residential unit in a trio of new two-bedroom waterfront apartments overlooking the marina being placed on the market for sale.

The 80 square metre residential unit overlooking the Bay of Islands Marina in Opua is being marketed to either owner-occupiers looking for apartment living, or for investors looking to establish short-term letting accommodation in the Bay of Islands.

The apartment, along with the greater marina development, is being built by Far North Holdings Limited - the commercial operations and business development subsidiary of the Far North District Council.

Bay of Islands Marina sits at the eastern tip of the Twin Coast cycleway which runs from Opua through to Horeke in the Hokianga. The route opened earlier this year.

The apartment is being marketed for sale with a price tag of $460,000 through Bayleys Real Estate. Salesperson John Greenwood said the two-level apartment was situated above a new and yet-to-be-tenanted hospitality premises, and was being sold in a ‘shell’ stage of completion – meaning any new owner would have the freedom to add interior decor to their own style and budget.

Construction of the upmarket apartment complex was scheduled to be completed by the end of the year. The apartment comes with two allocated car park spaces. Two identical neighbouring apartments had already been sold, and there was an option on the third site for any potential purchaser buy the remaining unit fully decor-finished.

Stage two of Opua Marina 173 berth extension opened earlier this year – increasing the total number of moorings to 425 vessels.

Mr Greenwood said that for investors looking at buying the marina apartment, the Twin Coast cycleway route would literally deliver a ready-made clientele to its back doorsteps.

“Depending on which way the two-day, 84 kilometre pedal is completed by cyclists, Opua is either at the start or end of journey,” he said.

“Those cyclists starting in the Bay of Islands would want a comfortable sleep the night before commencing their ride the following day, while for those finishing their ride in Opua, the unit represent a haven to relax in before heading downstairs for a celebratory drink and bite to eat.

“Indicative pricings for the rental of such accommodation on Airbnb or as a commercial proposition shows a nightly rack rate in the region of $450 could be easily budgeted for.”

Mr Greenwood said the apartment featured a first-floor balcony, an open-plan dining room/living room space, with the second bedroom located on the mezzanine level.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Government: Delivering Lower Card Fees To Business

Commerce and Consumer Affairs Minister David Clark has today announced the Government’s next steps to reduce merchant service fees, that banks charge businesses when customers use a credit or debit card to pay, which is estimated to save New Zealand businesses ... More>>

SEEK NZ Employment Report: April 2021

OVERVIEW OF APRIL 2021: STATE OF THE NATION: April, for the second consecutive month, saw the highest number of jobs ever advertised on seek.co.nz. Applications per job ad fell 9% month-on-month (m/m). SEEK job ads were up by 12% m/m. SEEK job ads were ... More>>

Commerce Commission: Warns Genesis Over Business Billing Errors

The Commerce Commission has issued a warning to Genesis Energy Limited about billing errors concerning electricity line charges to business customers. Genesis reported the errors to the Commission. The Commission considers that Genesis is likely to ... More>>

Stats: Lower Job Security Linked To Lower Life Satisfaction

People who feel their employment is insecure are more likely than other employed people to rate their overall life satisfaction poorly, Stats NZ said today. New survey data from the March 2021 quarter shows that 26 percent of employed people who thought ... More>>

The Conversation: The Outlook For Coral Reefs Remains Grim Unless We Cut Emissions Fast — New Research

A study of 183 coral reefs worldwide quantified the impacts of ocean warming and acidification on reef growth rates. Even under the lowest emissions scenarios, the future of reefs is not bright. More>>

The Conversation: Why Now Would Be A Good Time For The Reserve Bank Of New Zealand To Publish Stress Test Results For Individual Banks

Set against the backdrop of an economy healing from 2020’s annus horribilis , this week’s Financial Stability Report (FSR) from the Reserve Bank (RBNZ) was cautiously reassuring: the country’s financial system is sound, though vulnerabilities remain. More>>