The Calais Resort Apartments are situated in arguably the best position downtown the Mount - opposite mighty Mauao and the Mount hot pools, and a short stroll to the world-class main Mount beach to the east and Tauranga's scenic and busy harbour to the west.
Apartment 301 is also in arguably the best position of the Calais building - the front, north-eastern corner on the top floor! This 2 bedroom apartment captures lots of sun and has a wonderful outlook to magnificent Mauao, the hotpools and Pilot Bay. The open plan living areas open onto the east facing deck that runs the length of the apartment, ideal for summer drinks and dinners.
But the Calais Resort has weathertightness issues, and a major remedial project is scheduled to start in 2020. This is your opportunity to invest in one of the Mount's prime apartments in the best location at under market value! Yes, the building will go under plastic and you will have to pay for the apartment's share of the remedial work, but the wait is sure to be worth it!
If you're looking at the Calais for a permanent or holiday home you'll appreciate the position within walking distance to everything you want in life - the beach, good food and good shopping! The Calais is a managed apartment building offering stress-free management of the apartment if you are buying it as an investment.
Current ESTIMATED remedial costs are $7-8 million + GST ($8-9.2 million including GST).
Apartment 301's share of the remedial cost is 3.21% = $260,000-$296,000 inclusive of GST based on the estimated cost above.
The full amount of remedial funds are required to be paid before the rebuild starts.
The target date for the building repair work to begin is July 2020.
To access property documents, including disclosure information on the remedial work, copy and paste: www.propertyfiles.co.nz/property/MTM10606