Around the Traps

by Christine Nikiel

Friday 9th August 2002

Markham to build two city towers

Eighties property high-flier Pat Rippin's Markham Group this week received resource consent to build two residential towers at 85-89 Greys Ave in Auckland. The project, understood to cost $60-80 million, will be completed in two stages, starting with the first tower (289 units) and 250 carparks, followed by the second tower (222 units). The units will be a mix of studio and one- or two-bedroom units. Mr Rippin said he wanted about 80% presales before starting construction. The development will be marketed by First City Developments, which will run its "Just For Looking" promotion where potential buyers can go into a draw to win an apartment ... just for looking. Markham also has resource consents for 200 apartments on Surrey Cres in Grey Lynn. Mr Rippin said prices for units in that development would range from $300,000 to about $1 million.

Marcam juggles three

The other Auckland-based Marcam Group has a busy construction period ahead, with work on three major projects due to start before Christmas. Its seven-level, five-star Queenstown hotel and retail development won a non-notified resource consent late last week. Marcam plans to open the hotel in time for next year's ski season. Meanwhile, the Group's 42-unit Oakridge apartment development in Auckland's Remuera is scheduled to start construction in October, and the building of 92 terraced units on Mt Eden Rd near Three Kings will be under way in September. That development, called Providence, was about 80% sold, Mr Perriam said.

Court rules for Taradale project

After going head to head with the locals in the Environment Court, Taradale Developments will go ahead with its $9 million Manuka Cove project on Auckland's North Shore. The Environment Court rejected an argument for halting the 39-condominium development brought by the Glenfield Residents and Ratepayers Association. After reducing the number of units from 45, Taradale received resource consent on July 17 last year but the ratepayers' association demanded clarification on issues surrounding backwash of the swimming pool, plans for native trees on the property and maintenance of the development. Taradale said it was considering seeking recovery of costs.

Harcourts Milford stars in awards

Harcourts Milford franchise owner Martin Cooper, recent star of TVNZ's Location, Location, Location, also took a starring role in Harcourts' quarterly awards. A year after switching from the Harveys franchise to Harcourts, Mr Cooper's Milford office won the top national office award for revenue per sales consultant for June and most improved office for May. Mr Cooper and co-auctioneer William Johnson won awards for top auction procurer and top auctioneer for number of sales under the hammer - 26 - for the last quarter in the Auckland region.

Bayleys expands in capital

Bayleys has expanded its Wellington services, appointing Paul Hayes, a former Jones Lang LaSalle senior property manager, to head its property management division. Bayleys Corp managing director Jeff Davidson said the decision to set up a dedicated property management division was prompted by the strong state of the Wellington commercial market, and, internationally, real estate companies were expanding resources and skills to offer clients a high-standard, one-stop service.

Arrow aims to win in building awards

Arrow International dominates this year's New Zealand Institute of Building James Hardie Awards for Excellence in the Building Profession (or NZIOBJHAFEITBP for short). Arrow projects make up five of the 17 finalists including Whangarei Hospital Redevelopment project manager Derrick Reelick who is up for a Young Achiever's award. The awards are announced at a dinner tonight.

It's just a rumour, you understand?

Two Colliers industrial brokers are understood to have nailed a lease deal worth about $450,000 a year for what may be the North Shore's largest industrial design & build project this year. The parties are understood to be Kea Property Group and autoservices company Brake and Transmission. And the brokers are understood to be Andrew Hooper and John Bedford. Actual details are expected to follow.

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