29 June 2015

A Chinese couple had four new modular-style million-dollar houses put up in Auckland during just one weekend this month.

James Kellow, a director of New Zealand Mortgages & Securities which financed the quick-fire project, said the houses had been built off-site a few kilometres away, and then craned into place.

"These were constructed off-site in a factory and installed or placed on-site basically over a weekend. The quality is excellent and two have pre-sold at $1.2 million each," he said.

All four residences were placed on the pre-prepared site during the weekend of June 5. A project of that size would usually take many months.

Kellow said the four were designed by BDK Holdings and constructed in a factory on Archers Rd, Wairau Park.

"The developers are Chinese nationals who own a home in Oteha Valley, Auckland. They plan to immigrate to live in New Zealand full time and are currently working and saving wages in China. They are a husband and wife early to mid-40's. He works as a general manager of a canned drinks manufacturer and his wife is a branch manager of a Chinese construction bank," Kellow said.

The houses were built at 38 Regent St, Narrow Neck, near the intersection with Lake Rd which runs from Takapuna to Devonport. The site was formerly occupied by a mechanics workshop.

Kellow said unit one is 135sqm, unit two is 184m2 and sold for $1.2 million, unit three is also 184sq m and also sold for $1.2 million and unit four is 191sq m.

The firm finances huge deals and Kellow said the Regent St scheme was unusual. "By providing today's small scale developer with a modest size loan facility, we can assist them to gain the confidence and experience needed to become tomorrow's $20 million to $50million client," Kellow said.