Owners dig deep to stay dry

Friday 2 April 2004

Owners of two large inner-city Auckland apartment blocks are spending $1.3 million to fix leaky building problems before winter.

By The Landlord

People who bought units in the eight-level 34-unit Nautilus at 18 Hobson St have budgeted $900,000 for repairs, and body corporate chairman Ian Hastings said work which had been going on for months was almost completed, ready for winter.

And owners in the 39-unit Beaumont block, near Victoria Park, are paying $400,000 to have three walls rebuilt.

Mr Hastings said the main problem at Nautilus was water leaking through a flat roof.

As well, rain came in around windows and ranchsliders.

All the owners had agreed to pay, but some had problems raising the $26,400 being levied from each for the repairs because of banks' reluctance to lend on buildings such as the Nautilus.

One apartment owner had problems getting money, so this unit would be sold in a mortgagee sale.

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