01 January 2019
Corporate Traveller Magazine
Construction began in November, 2017 for the
57-storey tower that will elevate Auckland to a
new level in matching similar luxury residences
in thriving world cities. Construction cost is in
the hundreds of millions.
The developer, Hengyi, expects The Pacifica to
be a standout on Auckland’s skyline not just for
its size - but also for its architectural beauty.
Hengyi has hinted that there may be further
developments in New Zealand.
The Pacifica is located close to Britomart,
noted for its vibrant restaurants, bars and
exclusive retail stores. The spectacular tower
is also right next to the Waitemata Harbour
and just minutes from marina havens for the
nautically minded. It will provide a magnificent
grandstand for the 2021 America’s Cup.
The Pacifica comprise one, two and threebedroom
apartments. They start at 60 sqm
and have more than 130 floor plans. The
apartments, located from the seventh floor
upwards, all enjoy floor to ceiling views over
the city and harbour.
Crowning these is a $35 million two-storey
“super penthouse” that covers 1188 sqm and
features four bedrooms. It also has a separate
guest suite, formal lounge, chef-style kitchen,
butler’s kitchen, banquet style dining area, wine
cellar and tasting room, media room, library,
gym, sauna, spa and steam room, sky garden
with double height ceiling, personal office and
board room and up to 12 car parking spaces.
Alternatively, there is a penthouse floor of 636
sq m that can be purchased for $18.5 million.
To date 90 percent of sales have been to
domestic buyers but the developer believes
more overseas’ buyers will invest in The Pacifica
with the lifting of restrictions on foreign
purchasers for The Pacifica project.
Residents will have access to an indoor-outdoor
lap pool, spa, gym, media room, library,
residents’ lounge and 24-hour valet and
concierge services.
The top five levels are reserved for the
exclusive penthouses that come with the
promise of levels of luxury to match that found
in exclusive international cities.
A small luxury boutique hotel will occupy the
levels below the apartments, with a restaurant
and café at ground level.
Hengyi (NZ) General Manager
Liz Scott, discussed the project with
Corporate Traveller.
CT: Why Auckland for this very spectacular skyline
statement?
Hengyi’s original intent when it explored project
opportunities was not to necessarily construct an
iconic landmark building in Auckland. However the
location of the site purchased and the existing urban
landscape was deserving of delivering a building with
x-factor.
CT: Aside from Pacifica’s obvious recording-breaking
scale, what else will be unique about it?
The building offers residents amenities and services
not seen in a New Zealand residential tower before.
Alongside more familiar gym, pool, sauna, spa
facilities are media room facilities, meeting and
function room spaces and terraces, and 24-hour
concierge and valet parking services. The apartments
are freehold unit title, and are of a size and quality
that attracts a majority proportion of owner-occupier
purchasers.
CT: What are the most significant challenges in
proceeding with a project of this size - and how are
these being addressed?
The most significant challenge in delivering a building
of this size in New Zealand is procuring a building
contractor that you have the confidence in their
ability and financial capacity to deliver something
of this scale, quality and speed. We have contracted
with an Australian builder, Icon. Icon meet all our
requirements, and I expect are pleased to use The
Pacifica as their platform to enter the New Zealand
market.
growth for Auckland and New Zealand. Can you
share some of your thoughts in this regard?
Hengyi invested in Auckland, perceiving the city as an
up and coming global city. There was an identification
that there was a demand for quality housing into
the market, and Hengyi was well qualified to deliver
quality CBD housing, on the back of its numerous
successful Melbourne apartment projects.
CT: What has been the feedback in the short time
that Pacifica has been in the public eye?
Feedback has been very positive, people are amazed
at the speed at which we have been able to come into
the market and deliver what we said we would deliver,
and in the time frames we committed to. This sounds
simple, but unfortunately is not the norm for New
Zealand.
CT: What is the balance of potential purchasers in
terms of domestic and international?
To date, 90 percent of purchasers in The Pacifica
have been domestic. However we may see a growth
in international purchasers on the back of recent
OIO approval for foreign purchasers to be able to
buy apartments in The Pacifica without any of the
occupancy restrictions that came into force in New
Zealand from October 22, 2018. The Pacifica project
is the first New Zealand project to be granted a
Transitional Exemption from these restrictions. The
number of projects potentially able to be eligible for
this exemption is believed to be limited.
CT: The project marks a significant investment. Can
you quantify this?
The cost to deliver The Pacifica development is very
significant, hundreds of millions.
CT: In building so tall (by New Zealand standards)
are there any special challenges?
Hengyi has built a number of tall towers over
recent years in Melbourne, towers much taller than
The Pacifica. Many of the consultants used in our
Australian projects have been involved in The Pacifica
project, and have brought with them tall tower project
expertise to New Zealand. New Zealand consultants
have also been a key part of the project team,
bringing specialist New Zealand building code and
seismic experience to the table.
CT: Any plans for additional developments in other
parts of New Zealand?
Hengyi is looking at further investment and joint
venture opportunities in New Zealand