One of the features of The Oaks on Neville development is the range of apartment options and prices that have been incorporated into the design.
A modest one-bedroom apartment of 55 square metres on the lowest floor will cost $475,000, while a three-bedroom apartment of 156 square metres on the top floor will set you back $1,340,000.
Between these extremes there is a wide range of prices. Two-bedrooms start at $765,000, two bedrooms plus a study (or single bedroom) can be had for $920,000, and three bedrooms start at $1,075,000.
Developer Chris Murphy says the village provides a product that caters for most people’s needs and budgets.
He says the aim is to have a situation where the average price of an apartment is a bit less than the average price of real estate in the area.
“If we can create a situation where someone sells their home in Warkworth, buys into the village and still has some money in the bank, then that’s ideal,” he says.
Prices inevitably climb as the size of the apartment increases and the higher the level it occupies in the building.
The higher levels enjoy better views and better light. A top floor penthouse might have you looking over the rooftops of Neville Street, across Lucy Moore Memorial Park and on to the Mahurangi River with its backdrop of trees.
There is a premium paid for the quality of the view, which means a smaller apartment with a better view might command a higher price than a slightly larger one without.
One-bedroom apartments have just one bathroom, but all others have a bathroom and en suite.
Larger apartments may also have a bath, fireplace, scullery and two decks. But all share the same suite of kitchen appliances, the same Caeserstone kitchen tops (in three different colours), the same tapware and same carpets (in four different colours).
Some larger apartments come with a fireplace.
All two and three-bedroom apartments come with two bathrooms.
East-facing apartments catch the morning sun and west facing ones catch it in the evening. Some apartments in the Hoteo building have windows facing both directions and get sun all day. However, prices remain relatively modest compared to the larger Mahurangi building, since the Hoteo has fewer storeys and doesn’t command the same views.
Chris says so far, the more expensive apartments have attracted the most interest.
He adds that at the moment there is a little flexibility on price, as the village tries to quickly secure enough residents to make it viable.
However, once that benchmark is reached, prices will become more fixed.