Latitude Apartments10/8 Cliff Road, Tauranga 3110

Project Details

  • Project Name: Latitude Apartments
  • Client: TYBI Limited
  • Location: 10/8 Cliff Road, Tauranga 3110
  • Building Size: 5,500m2
  • Completed: May 2019
  • Project Budget: $21.5M
  • Key Tenants: All apartments are individually unit titled and owned
  • Project Partners: Contractor: Form Building & Developments
    Architect: Ignite
    Planners: Boffa Miskel
  • Key Veros Team Members: Duarne Lankshear: Property Advisor
    Sunil Hira: Development Manager
    Craig McMichael: Project Manager

Brief

Our brief was to provide a total development solution for the feasibility, design, sales & marketing, and project management of a high end apartment complex that needed to be highly buildable, functional and saleable, and deliver the requisite return to the investors

Overview

Latitude Apartments is a six level, 27 – 29  apartment development located in the heart of Tauranga city, with commanding views of the harbour and Mount Manganui.

Initially proposed as a five level apartment complex prior to Veros’ involvement, the client had pursued various avenues in an attempt to develop a profitable and marketable product, however the overall apartment typology, views and outlook, and carpark ratio did not deliver a viable development feasibility.

Once engaged, Veros undertook a review of the development and overall feasibility, and identified an optimised building and layout that delivered constructability and saleability.

Outcomes

The outcome was an improved investment return in the region of 20%, greater client, investor and buyer certainty at the point of sale, and overall a higher quality of product.

The higher quality design and, in particular, visual renders of the building apartments allowed the apartments to be sold off the plans while providing certainty to the purchaser on the quality product they would receive.