Apartment complex proving popular

Apartment complex proving popular
The 280 Bealey Avenue complex is proving to be a popular opportunity for owner-occupiers and investors, offering the perfect mix of convenient location, upmarket amenities including swimming pool, gym and basement carparking.

Refreshed and beautifully refurbished, work on two apartment blocks on Christchurch’s ever-popular Bealey Avenue is nearing completion.
Offering the perfect mix of convenient location, upmarket amenities including swimming pool, gym and basement carparking at affordable prices, the 280 Bealey Avenue complex is proving to be a popular opportunity for owner-occupiers and investors alike.
“Whether you are looking for a modern city pad, a lock up and leave, or a high return short-term rental this is a hugely attractive opportunity that won’t last long,” says Harcourts’ Sales Consultant Tim Harris.
“With the airport a short drive away, the central city a breezy 15-minute walk and Hagley Park on your doorstep residents will be spoilt for choice in this fantastic location.”
Positioned on the corner of Bealey Avenue and Barbadoes Street, the apartment complex consists of two three-storey blocks – East and West – each of which has 21 individual apartments ranging from one to four bedrooms. A basement garage sits beneath the complex with at least one carpark available per apartment.
With a fence at the front of the complex and gatehouse entry via keypad, the complex is totally secure. A shared grassed and planted courtyard along with kwila deck area sits between the east and west blocks with a gym and heated pool at the rear.
Built in 2000, the apartments suffered from the February 2011 earthquakes when flooding in the basement prevented resident access, which meant the complex could no longer be occupied.Insurance settlement was finally reached in 2014 and the owners made the decision to sell the property.
Father and son developers David and Tony Henderson recognised the opportunity undertaking extensive remediation to the basement and embarking on a major refurbishment project.
Working with the Hendersons, Walker Architecture and Design has overseen the complex’s complete refurbishment and upgrade.“Every apartment features stylish new fixtures and fittings and will come complete with brand new appliances and drapes.”

Apartment complex proving popular
Walker Architecture and Design has overseen the complex’s complete refurbishment and upgrade.

 
The extensive repairs to the building include replacement of some membrane roofs with profiled metal, flashings to skylights, new flashings to high risk windows & doors, repaired plaster over existing concrete block walls.
All units have had new hot water cylinders installed, upgraded insulation where required, new bathroom fittings, new waterproofing under the bathroom tiles, new ensuites added to top level units, new kitchens and appliances, new carpet and tiles throughout.“The whole complex has been completely re-plumbed and rewired,” says Tim.”
There are new LED light fittings, the lighting to the common areas has been upgraded and the fire alarm system has been completely upgraded.”By the end of January 2020, the East block will be completely finished and ready for occupation with Council code of compliance issued.
“By that time I expect we will have sold the vast majority of the apartments. The external work on the West block has been completed and the internal refurbishment will be finished by the end of March.”
With apartment prices varying across the range from $355,000 to $455,000, Harcourts has been overwhelmed by demand.“I believe the whole Eastern block will be sold before completion,” says Tim. “We have a good mixture of buyers either signed up or close to it.
There are young professionals, young families with small children, parents buying or helping children get into their first home and of course there are some smart investors.”He says that for investors considering an apartment for Airbnb purposes, Comber and Comber interiors is offering a complete furniture package.
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