A new European-style boutique apartment complex nestled in the heart of Auckland’s art district has been announced with construction expected to begin early next year.
Library 27 is the first New Zealand venture from Belgian developer Eaglestone, which has built luxury residential projects all around the world.
The 49 units available for sale in Library 27 are a mix of one bedroom plus study and two bedroom/two bathroom apartments as well as studios and sub penthouse apartments.
The majority of apartments in Library 27 will range between $545,000 and $880,000.
Neighbouring the Auckland Art Gallery and the Auckland Library at 27 Rutland Street, the complex is set to bring a higher grade of living to the city’s ever-growing apartment market, according to Library 27 Project Director Gavin Lloyd.
“Belgium is known for many luxury products,” says Lloyd. “Fine food, beer and rich chocolate - and great architecture, which is now coming to Auckland at Library 27.
“The small details set Library 27 apart. His and her hand basins, separate powder rooms and every apartment has its own balcony. The quality of the interior finishes and attention to detail give each apartment the elegance and sophistication we’ve come to expect from European design,” says Lloyd.
Kim McGregor from Eaglestone says the quality of Library 27 is comparable to the high-end residential apartments the company develops in Europe.
“What’s unique about Library 27 is there’s no compromise. Each apartment type we have available provides a quality of life that will appeal to those who like the finer things in life,” says McGregor.
There is currently a huge demand for inner-city apartments with nearly 2,000 apartments having been sold off the plan already in 2016, according to the latest research from real estate group CBRE.
Lloyd says there is very little of the current Auckland apartment pipeline available, with only 1,400 of the 8,000 upcoming units still available for sale.
“Prime Minister John Key recently said that young Aucklanders and those about to retire should look into apartment living, so we feel the timing is perfect for higher quality apartments that provide a more cultured and sophisticated standard of living.
“Most of the apartments in Library 27 will range between $545,000 and $880,000 which is very reasonable in today’s market, given the location, design outcomes and quality finishes,” says Lloyd.
As the housing crisis continues, Lloyd expects more and more people to turn to inner city apartments to combat rising house prices.
“Library 27 is going to appeal to a wide range of people from first home buyers to those looking to downsize. There are also huge benefits for single and professional couples working in the CBD as well as for students.
“Given that Library 27 is right next to Auckland University and AUT, it is also ideal for mums and dads looking for a secure inner-city apartment to accommodate a student son or daughter in a higher quality product.”
Construction is expected to be completed in 2019 but apartments can be bought off the plan by visiting the Library 27 showroom at 2 Kitchener Street. Interested parties are encouraged to visit www.library27.co.nz or phone 0800 55 73 77 for more information.
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