13/139 Quay Street, City Centre, Auckland City, Auckland

Welcome to Princes Wharf, where the ocean and residential living combine to provide prime, Auckland Viaduct accommodation which suit a vast range of uses and purposes.

The apartments on level 1 are the biggest one bedroom apartments on Princes Wharf, in fact you would be hard pressed to find a bigger one bedroom anywhere. A whopping 70 square metres of prime Viaduct space which includes the covered balcony big enough to sit out and dine, and soak up the vibrant atmosphere below.

Completely open plan setup featuring full kitchen with breakfast bar and good sized bathroom and bedroom, there's enough space in the lounge to add a fold out bed if maximum income is your objective.

Speaking of income, this unit is sold fully furnished with top quality furniture and ready to hit the short term rental "Airbnb" market, or the option exists to continue with the current fixed term tenant who is paying $650 per week. Many owners use these apartments as bolt holes. They may live out of Auckland and Airbnb them when they are not using them to help cover the cost of the outgoings, and have the security and comfort of having their own space, rather than staying in hotels. The current owner lived here herself for a period of time as she understood that the cost of buying a freehold apartment and paying a mortgage, made no sense at all!

The leasehold title means you are paying a tiny fraction of what you would if these were freehold apartments!

Owners pay OPEX (short for operating expenses) and ground rent to the lessors on a 3 monthly basis, as well as Auckland Council rates.

Annual Outgoings as follows:

> Ground rent: $10,194.44 > OPEX: $8,413.04 plus GST

The OPEX is reset every 12 months based on what maintenance is required and also covers all of the communal costs owners share like insurance, cleaning, security etc. The ground rent is increased every year by 3% or CPI, whichever is the greater giving you much more certainty than other leasehold structures in Auckland.

The property is rented at $650 per week with a permanent tenant until 22nd May 2026 so at that point you may have vacant possession if you wish.

Call or email me to discuss Princes Wharf in more detail, and to request more detailed information.

I look forward to meeting you soon!