Full Description

Christchurch is a very English town - it has a beautiful river that flows through the centre called the River Avon. It actually runs past Wilton close, about 400 metres away. People can go punting on the Avon as well as rowing, it also has Hagley Park which is the biggest central park in all of NZ. Wilton Close is located beside the Central Business District which is about a 3 minute drive from the development. Nearby are many nice cafes and restaurants which are all within a 5 minute walk. Christchurch has a picturesque city centre with trams and many old buildings and it is also the economic hub of the south island. 

We focus on high end boutique apartment developments and Wilton Close ticks all the boxes. There is keen demand for this style of property from tenants, investors and owner occupiers alike and the location, just off Salisbury Street, on the edge of the St Albans suburb, is a very cosmopolitan area. The apartments are of a modern design and will come complete with a full appliance package. The aspect of each apartment has been carefully considered to maximise sunlight and each apartment will have its own balcony or private landscaped courtyard (depending on configuration). Wilton Close offers the best in inner city living.
 
Each property is priced around NZ$365,000 (approx £128,000) and with self-cert and non-status mortgages available, these units are not going to last long !!   Flythrough available on request.
 
This opportunity lets you secure a property at today’s prices with a 12 month build programme. You have the ability to secure an apartment with only a 10% deposit (approx £12,800 or even less, £1,500, with a deposit bond) and nothing else to pay until completion.  This strategy lets you take ownership in a growth asset with minimal cash outlay. Furthermore, securing a unit at the pre-construction price is usually a sound investment .

Can I really reserve for £1,500 with nothing else to pay until completion?
 
The answer to the above questions is YES. We have agreed with the developer that our clients can use a deposit bond. The bond is used instead of your 10% deposit. Once the bond has been issued there is nothing else to pay until completion.
 
What is a Deposit Bond?

It is a cost effective and easy way to meet your deposit obligations on deposit bond approved developments. In any Sale & Purchase Agreement, the vendor will require a sign of your intention and commitment to buy. Traditionally, this has taken the form of an amount of cash deposited with the vendor’s solicitor. After you have negotiated the purchase and your solicitor is satisfied as to the various terms and conditions, the contract will become unconditional. Both parties are then bound to honour their undertakings. The cash deposit is now at risk. If you subsequently default, you are liable to the vendor for any loss arising from that default and your deposit is forfeited.
 
When you use a Deposit Bond you satisfy the vendor’s deposit requirements by the issue of what is essentially a deposit guarantee. You don’t have the hassle of having to go to the bank to extend your own mortgage to cover the deposit. Nor do you have to break an existing term investment, which often incurs penalties. Nor will you tie up all your existing credit lines for the duration of the contract period. 
 
Given the above you can see why we believe this project to be an outstanding opportunity. You can actually reserve an apartment for £1,500 and then benefit from the price increases through the build process. Most developments increase in value by 10%-20% during the build and, given the factors detailed above, we believe it could be even more in this project and don't forget there is NO CAPITAL GAINS TAX to pay in New Zealand. One other point to consider is that you can sell (flip) your contract before completion which means you could make a substantial profit without ever owning the apartment!!
 
This development is high quality and will demand strong rent and we envisage Wilton Close being occupied by high income city professionals. Also a unique feature and point of difference for Wilton Close is the internal landscaped communal courtyard. This is a great feature and incorporates a lawn, a barbeque area and a water feature. Access to the Wilton Close complex will be via security controlled gates.
 
Wilton Close will be very attractive to the owner-occupier market also and will demand a premium price on completion, therefore the option to sell pre-completion is likely to be a consideration for some. However, if you decide to keep your unit long term we have property managers ready to take care of tenant selection and apartment management. 
 
If you are interested in this property, please contact us promptly, as this petite block of apartments will not last long on the market. The purchasing process is simple, designed to give you ample time to perform all your necessary due diligence and financial arrangements. 
 
For your information we have already sourced solicitors, accountants and mortgage brokers so most of the legwork has already been done by us. Furthermore we are not charging any fees on this project and we will provide you with all the back up that you need. Therefore in order to ensure that you do not miss out on this fantastic investment please contact us ASAP.

Key Investment Points: -

• Capital growth focused investment.
• Strong rental demand.
• No Capital Gains Tax.
• No Inheritance Tax.
• No Stamp Duty or VAT.
• Low initial deposit, 10% or £1,500 if you purchase a deposit bond.
• Nothing else to pay until completion which is expected to be Dec 2007.
• Mortgage loan to value is based on valuation at completion not the purchase price.
• Wilton Close apartments come with the full whiteware pack – including washer/dryer, fridge, dishwasher etc. Most developers don’t include this.
• Contracts can be flipped prior to completion.
• Limited number of sophisticated apartments, 40 only !!
• Christcurch is New Zealand’s second city and the largest city on the South Island.