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BM/40 Eden Crescent Auckland Central, Auckland City 1010

Sold on 7 Jul 2016
  • 1 Bed
  • 1 Bath
  • 1 Car
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Apartment in Auckland Central

Car park in Eden Crescent

  • 1 Bed
  • 1 Bath
  • 1 Car

*Please note this is only one carpark*

Here is a freehold property option in Central Auckland you may not have considered? YOUR VERY OWN CENTRAL CITY CAR PARK. The perfect storm - The demand for city parking is increasing rapidly due to the booming population of inner-city workers and apartment dwellers. At the same time, the council is trying to herd us all onto public transport. The council has, over the last month, continued with its trend of increasing the parking tariffs in their self-owned parking buildings (it now costs $410 per month for a reserved space at their Victoria Street car park building). Further, they are encouraging developers to build residential towers with practically zero allocated parking. For example, currently under construction is the Park Residences (a 1 minute walk away) which will house 275 apartments and less than 25 car parks. With rents increasing and supply effectively going down, what do you think is going to happen to the value of the current car park pool?
Please note this is a car park only, not an apartment.

Property ID:

CTA28726

Building:

15m²

Parking:

One Car Park Only

Bedrooms:

1

Bathrooms:

1

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