Lakewood plaza, manukau, off the plan apartments
The Lakewood Plaza is an apartment complex in Manukau City offering 151 apartments, of which 91 are dual key, 56 are premium suites and 4 are luxury penthouses. Analysis shows $3,538 positive cash flow after tax in year 1 for a premium suite and a gross yield of to 5.8%.
Manukau City Centre is the nexus and hub for both southern Auckland and northern Waikato and the Manukau City Council has outlined a vision for the city over the next 30 years (see the video on page 8). The Manukau City Centre Plan not only outlines the physical place-making aspirations for Manukau but also the community and recreational aspirations as well, to reach its full economic, social potential as a city. Following the incredible growth Auckland has been seeing over the past few years, Manukau Central is now leading the charge in Auckland (its values are up 12.9% year on year – 2014). Lakewood is not set for completion for another 2 years so buyers have the opportunity to secure this investment at today’s prices, with the potential to capitalise on Manukau City’s future growth.
key investment results
Release date: 2015
Results date: 2019
Stock quantity: 16
Timeframe: 4.0 years
Equity created through value gain buying off the plan. End value estimate in 2018 based on comparable sales
Off the plan apartments
Purchase price: $600,000
Value at end: $750,000
Deal profit: $150,000
Deal profit: 25%
Yield on cost: 5.8%
The Lakewood Plaza apartment complex is situated in an excellent location within walking distance to Manukau Westfield shopping mall, cafés, cinema, easy access to the Northern, Western and Southern motorways, 3-minutes drive to the new MIT, train station and the proposed Transport Hub and approximately 10-minutes drive to the Botany shopping centre.
Designed by multi award-winning architecture practice, Achimedia, Lakewood Plaza sets a new benchmark in fully integrated inner city living. Lakewood Plaza provides contemporary urban apartment living that features two levels of underground parking, fourteen levels of apartments, and an upper level penthouse floor.
The Lakewood development has high quality amenities, including a 20m swimming pool, a sauna and steam room, membership access to South Auckland’s most exclusive health club and gym and access to the residents’ lounge served by a café, restaurant and bar. Future plans may include a hair salon and one further retail unit.