Artist's impression of planned 'live and work' development at 18 Oteha Valley Rd extension on Auckland's North Shore.
Artist's impression of planned 'live and work' development at 18 Oteha Valley Rd extension on Auckland's North Shore.
A new, Mixed Use 'live and work' development planned for Albany will comprise 48 commercial and residential units and is due for completion at the end of next year.
The 7480 sq m development has been named 'Lucas 18' and will be constructed at 18 Oteha Valley Rd extension onAuckland's North Shore on 48 stratum-in-freehold unit titles.
Shoneet Chand who, along with colleague Matt Prentice of Colliers International, is exclusively selling the individual units says they will combine ground floor office suites or industrial work and storage space on the ground floor with apartments above.
"Site work on Lucas 18 is planned to commence next month," Chand says.
The units range in size from 122 to 208 sq m including the first floor balcony and decking areas.
Chand says some larger two bedroom units contain a third spare room that could also be used as office space or for some other alternative commercial use. The development includes provision for a 95 sq m cafe that is also being marketed for sale.
Prentice says Lucas 18 is strategically located within a rapidly expanding commercial and residential precinct and will specifically appeal to small business owners and investors.
"It's a chance for smaller business owners to buy purpose built premises on a very affordable scale with the bonus of being able to live in quality where they work."
Unit prices range from $599,000 to $895,000 plus GST (if any) and they can be secured off the plans with a 10 per cent deposit.
Prentice says owners would have the option of individually renting out both levels of the units.
"The entrances on the ground floor have been designed to allow these to be rented out separately with individual access for different tenants if required," he says.
"Units with workshop and storage space will suit owners storing anything from cars to supplies or stock for small businesses while those having office space will be professionally appointed."
The 95 sq m cafe will be located at the front of the site and will constitute the ground floor area of a 208 sq m two level unit that will have an apartment on the top floor.
Prentice says the cafe will incorporate an outdoor seating area plus allocated car parking and will cater to the residents of Lucas 18 and the wider community.
"This particular unit will be suitable for cafe owner occupiers or investors looking for a diversified income stream from two tenants - should they choose to rent both levels of the unit separately," he says.
Lucas 18 will be wired for high speed broad-band capability and will have connections in the home for Sky satellite TV and internet. Each unit will be fitted with a standard residential quality security system and CCTV cameras will be located around the development.
The units will constructed of predominantly precast concrete panel construction with areas of Nu-Wall aluminium weatherboards and aluminium composite panel cladding. Each unit also features double glazed aluminium joinery and Colorsteel roofing.
Matt Prentice, of Colliers International.
All the units will have outdoor living areas and a minimum of two car parks directly in front of each unit. Lucas 18's Body Corporate will be managed by Centurion Management Limited.
The development is being undertaken by Ziegler Property Ltd which has completed 18 commercial developments over the last 15 years in the Auckland market including industrial units, trade retail, strip retail shops, childcare centres and gyms.
Tom Tuke, director of Ziegler Property, says the Oteha Valley Road extension project will have a northerly aspect overlooking a council reserve and border Lucas Creek.
It will be close to Massey University, Westfield Albany, North Harbour Stadium, and Albany Village. "It is also just 1.5 kilometres from the State Highway One motorway on and off ramps and the Albany Park & Ride facility."
Chand says Lucas 18 has been planned as "a sustainable sub-regional centre" to enhance the economic and social wellbeing of the area and provide for future population growth.
"By 2021 it is estimated that more than 15,000 people will be working within Albany City."
Chand says Ziegler Property Ltd, has worked closely with the architect to ensure the units provide buyers with a genuine long term, life-style option.
"Many live and work units become short term, transient places for occupiers due to a lack of quality and undesirable settings, but this will not be the case with Lucas 18. It will be situated beside native bush with green and open spaces," Chand says.
