Urban village aPod units snapped up

The Rhubarb Lane units are designed with daring interiors by internationally known architects, says Tim Willing. Photo / Supplied

Seven of the first 12 freehold "aPod" live-and-work units in the first building of Auckland's planned Rhubarb Lane urban village development have already been purchased, predominantly by commercial buyers, says Tim Willing, director of sales and marketing for Multiplex Living.

Construction of the Rhubarb Lane development, on the corner of Sale and Wellesley Sts in the Victoria Quarter precinct near Victoria Park, is expected to begin early next year.

Willing says the loft-styled units, designed by Ian Moore Architects, have struck a chord with business-owners looking to move into the heart of Auckland's new urban village.

The units are designed to provide ideal office/workspace and apartment living for owner-operators of "creative businesses" like advertising agencies, graphic designers, film producers, photographers and architects.

Some layouts are split into two storeys with a number featuring double-height spaces with an open atrium to "create a strong sense of space". The interiors are described as "daring with the highest quality kitchens and bathrooms, characterised by colour-backed glass and caesarstone". Car parking is underground and a landscaped park will provide green space for residents.

Priced from $699,000 to $1.035 million, the seven units sold were snapped up on the first weekend of sale, with commercial buyers attracted by "an exceptional finance package offered by Westpac Bank", says Willing.

"Under an arrangement with the bank, purchasers can get a loan at residential interest rates of up to 75 per cent of the value of the property, compared with usual business loans of between 50-60 per cent. Settlement is expected to be early- to mid-2012."

Willing says the deal means commercial buyers can get a stakehold in the mixed-use development in the Victoria Quarter with very little money down and at least 18 months before settlement.

In all, there are six differing buildings planned in the Rhubarb Lane development, each by a different, internationally known architect but all offering flexible live/work loft-style spaces over a cobblestoned street of boutique retail outlets, cafes, restaurants and speciality stores.

"This first release, No1 Rhubarb Lane, is a masterpiece of intelligent harnessing of light and space featuring double-height, loft-style aPods perfect for a range of business uses or combined business-residential living," Willing says. All buildings in the development feature solid masonry construction, air-conditioning as well as natural airflow, high-performance glazing and superb acoustic isolation.

Willing says the architect of No1 Rhubarb Lane, New Zealand-born Ian Moore, is one Australasia's most celebrated architects responsible for designing some of the most prestigious commercial and residential buildings in Australia and internationally.

"His projects are known for their immaculate style, distinctive contemporary approach and clever use of space-saving design. Ian has won numerous national and international awards with landmark projects, including Air Apartments on the Gold Coast; 2 Kings Lane the Altair Apartments and 138 Barcom Avenue Apartments in Sydney; and the Price/O'Reilly House in New Zealand."

Spaces still available in the first release range from 86sq m to 131sq m and prices start at $699,000, including car parking and GST. Multiplex Living expects to announce the next stage to be released to the market at the end of this month.