Whanganui's Taupo Quay apartments get resource consent approval, prices revealed

Resource consent has been granted for the development of riverside apartments on Taupo Quay.

Twenty apartments, made up of 15 one and two-bedroom dwellings and five penthouses, are planned for the old New Zealand Railways and Whanganui Chronicle building at 59 Taupo Quay.

The Bridgewater Quay apartment will cost between $195,000 to $395,000 plus GST.

Developer John Hay said he was pleased to reach this stage of the project.

"It has taken us 15 months and an investment of $200,000 so we are naturally pleased to have this stage of the development behind us," he said.

"It wasn't the easiest of applications for Whanganui District Council to consider but they worked hard and positively to help bring this consent about. In this case council officers and staff have all been supportive and positive about the project."

The resource consent document, 198 pages long, was lodged with Whanganui District Council last month.

Council's planning manager Hamish Lampp said the apartment complex would bring more activity to the area and improve the look of the riverfront.

"This is the first major inner city residential conversion project of its scale in Whanganui for many years," he said.

Hay said the next phase of the project was to pre-sell the apartments.

"We've had 50 people inquire and probably six to 10 people who are keen to proceed once they know what the deal is," he said.

"For those that want to proceed, they would read the plans and specifications, and sign the contract.

"Progress reports would be available through the construction period, and once the building is complete the buyers would have a look through and if they're happy, they'd settle and take possession of the property."

Hay said generally with apartment developments purchasers are required to pay a 10 per cent deposit for a pre-sale.

An information hub and pop-up office is in the works which will offer people in Whanganui the chance to get any answers in person.

"People can actually have a look at the view, they can walk down to the Saturday markets and see how well located the building is," Hay said.

"Initially we will confine our sales efforts to Whanganui so locals have the first opportunity of securing an apartment. Thereafter and if necessary we will expand our sales horizon to the Wellington and Auckland markets."

Hay's development team are currently working on body corporate costs for what residents would pay to maintain the building.

Although resource consent has been granted the building is still owned by local businessman Trevor Strong, and will change hands once bank funding has been approved.

For funding to be granted 10 apartments, or 50 per cent of those on offer, have to be pre-sold.