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OUTLOOKIssue 2 - August '07 Welcome to the second issue of Outlook, the e-newsletter designed to keep you up-to-date with progress at The Watermark.
In this issue we discuss the recent drilling and digging at the Wellington Markets in our Construction Update. We also provide an update on the latest sales and we showcase the E-type residences in our Residence Focus section. Lastly, we talk to Terry Pinfold of Wellington Construction as well as Ann and Rick Curtis about why they purchased at The Watermark. Construction Update - Watermark complex close to startWe've taken the next step in the construction program, giving the green light to the preferred contractor Hawkins Construction to start their preparatory work, and for our design consultant Studio Pacific Architecture to commence develop-design work. The program anticipates demolition to commence in December. Test bore drilling has been completed inside the markets and is continuing on outside and around the markets currently. The engineers have had to drill beyond 30m (the height of the Duxton Hotel) in order to get a cross-section of the foundation material and to gather the critical information they need in order to carry on construction below sea level. The Watermark is on-track for completion in mid 2010. Sales UpdateThe Watermark's multi-million dollar residences sales are strong with more than $15 million worth of apartments sold in the last couple of weeks. We're pleased to announce that over 80 percent of the seaward facing residences are now sold, these range in price from $3 million up to the $12 million penthouse. The smaller boutique hotel apartments on the fourth floor, which are due to be released within the month, will be marketed for between $500,000 and $800,000.
Residence Focus: E-type residences
The E-type residences are unique as they provide degree views. Each E-type (floors 5-10) is over 200sqm, containing three bedrooms, with the option of turning the third bedroom into a media room, library or study etc. With double-glazing on three sides the E-type affords amazing views and light, each E-type contains a large six bay Poliform kitchen, sea and city views, two carparks with extra storage lockers, and outdoor terraces on all three sides. The E-type residences are priced between $3.2 - $3.6 million, this includes a share of the body corp ownership in the public carpark. Who bought that Residence?Terry Pinfold, owner of Wellington Construction bought Residence 8C off the plans at the Watermark in March this year. Terry, who is a developer himself, outlines his reasons for buying at The Watermark. "First and foremost is the location of the building" says Terry. "There are so few locations as good as The Watermark left in Wellington." "Secondly, and equally as important as the location, is the quality of The Watermark residences. I'm involved in a number of property developments throughout Wellington, and The Watermark development is by far the best I've seen in terms of quality and design."
Ann Curtis, owner of Ray White Residential in Wellington and her husband Rick Curtis, bought residence 7I off the plans at The Watermark in October last year. This is the first time Ann and Rick have bought off the plans, despite Ann working in real estate for the past 20 years plus. Ann and Rick both say that the design and the location of The Watermark were key reasons for buying. "The ability to customise our residence to match our lifestyle and tastes were also a big factor" says Rick. "Our apartment has a large terrace, with great sun and is protected from the prevailing wind." Several of the many services offered at The Watermark were also a factor for Ann and Rick, such as room service dining from the in-house restaurant and a full-time, concierge service at reception. "One of the biggest advantages of buying at The Watermark is that body corporate fees will be next to nothing - something that is simply unheard of, particularly given the number of facilities and services provided at The Watermark".
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