The first 88 townhouses in Avanda Ltd’s West Edge development at New Lynn have gone on the market, starting a 12ha project that will ultimately contain 1800 homes on the former Crown Lynn pottery & brickmaking site.
The first stage, in the Edge Hill precinct, is being marketed through an expressions of interest campaign by Bayleys. A display suite will open onsite on Saturday 17 October.
West Edge is bordered by Margan & Rankin Avenues & Crown Lynn Place & Rankin Ave. The development, designated a special housing area under the housing accord between the Government & Auckland Council, will be a mix of duplex & terraced housing and some mid-rise apartment blocks, some with retail premises at street level.
The 2- & 3-bedroom townhouses will range in size from 80-146m², all with a balcony and either a single garage or carport, priced upward from $500,000.
At least 10% of the homes have to be in the affordable category, priced no higher than 75% of Auckland’s median sale price on a set date.
Construction on the first stage is scheduled to start in March, for occupation by the end of 2016. The whole project has been planned in 6 stages, to be rolled out over 5-6 years.
Local directors of Avanda are Kong Yong Cing & Ye Xuemin. The third director, Tan Yuehua, is in Guangzhou. Avanda is owned by (2) Keen Power International Holdings Ltd, of Hong Kong.
Mr Kong has been involved in largescale property projects in Auckland for over a decade, including being a director of one of Geoffrey Hodgkinson’s Vermillion projects at Sunny Hills, Pakuranga.
Mr Ye & Mr Tan are directors of project companies Long Capital Holdings NZ Ltd & Rankin Property Development Ltd (both owned by ZhaoQing Tenglong Property Co Ltd, of Zhaoqing City, Guangdong, China).
Link: West Edge
Attribution: Agency release.