A half-finished boarding house has come up for sale in Auckland’s Ōtāhuhu, thanks to endless delays during the design and build.
The owners, Nick and Linda Bryan, told OneRoof they had planned to build an upmarket “cohabitation space” to rent out to young professionals.
The building was to have 16 bedrooms, 16 ensuite bathrooms, a shared kitchen and living area as well as small kitchenettes in each unit.
However, construction didn’t go as planned. “Things dragged on with Covid,” Linda said, adding that there had been problems with their contractor.
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“A lot of it wasn’t necessarily his fault, but it just worked out that he couldn’t really continue and give us what was contracted.”
As a result, the couple, who are both 67 years old and want to take some time out for rest and recreation, have decided to list the partially-completed project, and pay down some of their other investment mortgages with the proceeds.
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They bought the 1290sqm property at 6 Brady Road in 2005 for $460,000, and have earned good income from the six-bedroom, two-storey rental home there.
However, in the late 2010s, they embarked on their boarding house project, deciding to use a steel-framed bespoke building system for the development. “We first saw the bespoke system in 2017, and it was quite exciting because it was made from steel, concrete, and glass, and was very cost effective,” Linda told OneRoof.
Even though the project was in a half-finished state, the couple said they were only interested in selling for the right price. The other option was to continue and finish the build. Currently, the couple are living in one level of the existing house with the other level tenanted. If the property sells, they will move back home to Tauranga.
An artist's impression of the completed boarding house at 6 Brady Road. Photo / Supplied
6 Brady Road also comes with a six-bedroom house. Photo / Supplied
Ray White listing agent Benjamin Neal said the listing was unique and could provide a very good return for an investor or builder who wanted to finish the project. “It’s a really good investment from that perspective,” he said. “It’s a really nice location opposite the Seaside Park. It’s a shame the vendors can’t finish the project.”
The listing is one of several aimed at investors in South Auckland.
A 2214sqm site in Papakura with building and resource consents for 16 one-bedroom units attracted a winning offer from a developer just seven days after it hit the market.
The property, on the corner of Willis and Kelvin roads, was marketed as a “dream opportunity” by Harveys agent Darren Brady.
The contract is due to go unconditional this week, Brady said, after which it would be “all hands on deck” to clear the site of existing structures and cars. Being a flat, easy site, the project should be straightforward.
Another development opportunity at 79 Willis Road, in Papakura, is due to go unconditional this week. On offer is a 2214sqm site with consents for 16 one-bedroom units. Photo / Supplied
188 Tennessee Avenue, in Mangere, Auckland, is being sold "as is, where is". Photo / Supplied
Another eye-catching but damaged property for sale is 188 Tennessee Avenue, in Mangere, which is listed with Ray White agent Gabriel Elkhishin.
The three-bedroom flood-damaged home sits on 1032sqm of land and is being sold “as is, where is”.
The listing photos show that gib board has been stripped up to approximately chest height. “Renovate and reap the rewards,” the listing said. “Grab your tool belt and your hard hat because the property is after a new owner who can whip this home back into its original state.”
- 6 Brady Road, in Ōtāhuhu, Auckland, goes to auction on October 8
