A European-headquartered developer is marketing a proposed Auckland apartment project off the plans to potential buyers.
Eaglestone of Belgium plans to build the 17-level 49-unit Library 27, given this name because the site planned for the project is behind Auckland's Central City Library in the central business district.
Eaglestone has rented space for a showroom near the project at 2 Kitchener St and employed kiwi Kim McGregor to head the project planned for 27 Rutland St.
McGregor said units were being marketed from $545,000 to $880,000 "which is very reasonable in today's market, given the location, design outcomes and quality finishes."
Asked why Belgium developers were interested in New Zealand, McGregor said it was a coincidence: "Someone from Eaglestone came to New Zealand for a family holiday in 2003."
Construction is planned to be completed in 2019, she said.
"We're getting resource consent. We've got building consent," she said last week.
McGregor said Eaglestone specialised in high-quality apartments.
"What's unique about Library 27 is there's no compromise. Each apartment type we have available provides a quality of life that will appeal to those who like the finer things in life," she said.
Consultants CBRE, marketing Library 27, said nearly 2000 Auckland CBD apartment had been sold off the plans this year.
Eaglestone information describes the business as "a Belgium-owned development company specialising in large-scale urban projects around the world. Library 27 represents the first New Zealand development for Eaglestone, which has a proven reputation for developing high-quality and elegant buildings that fit naturally into their
Some apartment buyers have discovered issues purchasing Auckland units off the plans, before construction has begun or is completed.
For example, at Albany's Rose Gardens projects, buyers who paid deposits have been now asked to pay more money.
At New Lynn, an apartment buyer found a window and bed space blocked by pillars she claimed were not on the plans.
The Home Owners & Buyers Association has also discovered many issues with apartments and recommended not a single purchase after investigating places spread throughout New Zealand.
Nick Smith, Minister of Building and Housing, is due next month to announce proposed changes to the apartment sector, after a high-profile investigation was launched earlier this year by Auckland MP and Cabinet Minister Nikki Kaye.