Parkview Terrace Apartments

Parkview Terrace Apartments

Modern stylish inner-city apartments quick to sell

Client

New Sun Group

Location

Auckland

Value

$16M

Completed

April 2016

Category
Commercial, Residential
About This Project

Parkview Residences is a smart, stylish new residential development overlooking picturesque Basque Park in Auckland’s CBD. The Property Developer is New Sun Group. The Director and Shareholder behind New Sun Group is Xia Lu.

The seven-storey concrete and steel-framed structure includes 48 residential spaces that are a mix of studio,one, two and three bedroom apartments, sized from 42m² to 181m².

Unique Aspects

The apartments have been sold at an average price of $8,000/m² to $9,000/m². Prices began at $350,000 for a studio apartment and rise to between $414,000 and $507,000 for a one-bedroom, between $550,000 and $1.04 million for a two-bedroom and approximately $1.6 million for the sole three-bedroom apartment.

The building includes two basement levels for 66 car parks and three commercial tenancies, a ground floor with gym, sauna and spa and additional commercial spaces.

Set in a tight site (1,100m²) with limited access room creates significant logistical challenges – particularly due to the urban location. The project maximises the
allowable space on a steep, sloping site. To overcome this Arrow adopted a top down construction methodology.

The street is very steep and the building extends to the very edge of the boundary, requiring a significant amount of both on-site and off-site coordination with the neighbours and surrounding properties because of the shared access.

Article – Parkview on track and selling fast
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