The former 15-storey Telecom headquarters on the corner of Hopetoun St overlooking Auckland Girls' Grammar School is being transformed into an 18-level, high-end residential block by New Zealand-owned firm Tawera Group.
The Hereford Residences development comes complete with its own international-style concierge doorman, a library, theatre, gymnasium, and heated infinity pool overlooking Waitemata Harbour.
It will feature 119 freehold dwellings, priced from $390,000 for one-bedroom units to the swanky four-bedroom penthouse suite, and is due to be completed by mid-2016.
The tower was owned by Brookfields but is under contract to be purchased by Tawera which recently won an award for its Vincent St project in central Auckland.
Tawera chief executive David Mahoney said marketing for the project began last Thursday. Sixty-five apartments had sold, including the penthouse for more than $5 million. It was bought by a family who are business owners in Freemans Bay.
Asked about the price, he said: "They wanted to keep it confidential. We were happy, they were happy. It's a great price for us. It was over what we wanted. There was more than one [party] going for it."
The apartment sale is among the most expensive ever.
Another penthouse at 454 Remuera Rd is under offer and expected to fetch well over its 2011 valuation of $5.54 million.
Bayleys apartment specialist Trent Quinton said the Hereford Residences' concierge service set it apart from other apartment developments and was a first in New Zealand.
One-bedroom units of 54sq m are for sale at $390,000, two-bedroom units for $690,000 and three-bedroom residences for $1.5 million.
Mr Quinton expected 90 to 95 per cent of buyers to be owner/occupiers.
Annual body corporate fees of $4000-$5000 per apartment will cover maintenance and luxury amenities, including the concierge.
