Log on to Auckland

PUBLISHED : Wednesday, 13 October, 1999, 12:00am
UPDATED : Wednesday, 13 October, 1999, 12:00am

Property.Net International is a Hong Kong-based agency which markets Australian and New Zealand properties to clients in the SAR, Singapore and Indonesia.

Although it was set up just this year, the people behind Property.Net are familiar with their markets. Managing director Philippa Gebbie, previously operated Pacific Properties in Hong Kong for eight years.

'Our New Zealand properties range in price from about NZ$135,000 to $750,000 (HK$552,000-$3 million),' Ms Gebbie said. 'Most are in Auckland, but Queenstown is also popular. Wellington is also OK for offshore purchasers, but Auckland, as the main city, is definitely easier.

'People consider New Zealand quite a small market, so you generally want to buy in the biggest, busiest part of it.' Ms Gebbie said Property.Net handled only select properties, able to generate high returns after the end of the guar anteed return period. 'We believe the key to achieving this is to ensure that the property is well-located and well-managed, preferably by an international operator with a proven track record and booking system,' she said.

Currently, Property.Net is promoting two projects in Auckland: Princes Wharf Hilton Hotel serviced apartments and Metropolis, an all-suite hotel.

Princes Wharf, a waterfront property, is managed by the Hilton International group. Buyers receive an 8 per cent net guaranteed return for the first five years.

Metropolis is being marketed as New Zealand's equivalent of the Trump Tower, featuring stunning architecture and quality furnishing.

The property is managed by the Liang Court Hospitality group. Buyers receive a 9.5 per cent guaranteed return for the first three years.

In addition to its property marketing activities, Property.Net also has a local property division specialising in local relocations among Hong Kong corporate customers.