Search |
|
|
|
Nick Close runs the Hutt-based office of Iron Bridge Property Management, which opened in October and already has 30 properties under management, adding to the 800 executive style properties the group oversees in Auckland and Christchurch. His firm has worked closely with developers of subdivisions on the outskirts of Upper Hutt that have offered "very competitive packages for investors". "You're talking about brick and tile, all complete for $345,000 to $360,000 and getting rents of $450-$475 a week, so to investors, they have been a good product," he said. Iron Bridge is expanding business to include Hutt City and Wellington. The outer reaches of the valley can still be within commuting distance of Wellington, courtesy of the peak-hour express trains from the Wairarapa that stop at Upper Hutt, he says. Property developments such as Riverstone and Kingsley Heights are also attracting migrants from South Africa and the UK, says Close, who arrived with his family from England about 18 years ago and settled in the valley. He likes the parks, the river, the mountain bike trails and proximity to Wellington. He also likes being within reach of the wine region of Martinborough in the Wairarapa and the beaches of Eastbourne, Days Bay and Plimmerton. Close isn't alone. Some 89% of residents said they had a good, or extremely good quality of life, according to a survey that measured New Zealand's 12 biggest cities. More land is likely to be freed up on the outskirts of Hutt City by an ongoing review of land accumulated by the council over the years and now deemed surplus. NZ Property Investor - March 09 |