Live mortgage-free in Auckland for two years

Auckland’s city heart is shifting gears - and so too is one of its most recognisable central city addresses.

In what’s believed to be a first for the New Zealand market, One Greys Ave is offering buyers the chance to secure their home now, move in immediately, and live mortgage-free for two years - a structure with exceptional appeal across a broad spectrum of purchasers.

Bayleys Projects General Manager, Gavin Lloyd, together with colleagues Amy Kitto and Tony McGirr, is leading the unique campaign, featuring one, two and three-bedroom apartments priced from $620,000 and a delayed settlement offer of up to 24 months.

Lloyd says the financial incentive to purchase provides a compelling value proposition at a time when interest rates are easing, the City Rail Link (CRL) is nearing completion, and the cultural heart of the Auckland region is entering its renaissance.

“The boutique release arrives as the cost of living continues to be a real impost for many Kiwis, with this offer providing significant value for purchasers. At the same time, the market is entering a confidence cycle. Transaction volumes are rising, and there’s a clear turn to high-quality, lock-and-leave urban living.

“This is not speculative off-plan buying, these homes are finished and ready to live in. Purchasers can feel the scale, quality, and light immediately. Additionally, the apartments have such broad appeal - first home buyers will see their savings accelerate with a mortgage-free holiday for two years.

“Downsizers and retirees with an existing property to sell can move into their new city home at One Greys Ave, while selling their current property in an improving market through 2026/27.

“For investors, the advantage is clear - amplified returns with no mortgage costs for 24 months,” Lloyd says.

Designed by an award-winning development team spanning Naylor Love, Jasmax architects and Beca engineering, One Greys Ave represents one of New Zealand’s most awarded apartment communities.

Lloyd says that each residence features stone benchtops, oak flooring, wool carpets and clever configurations to maximise city views and functional minimalism.

“The on-site amenities are resort-worthy, with a swimming pool, gymnasium, movie and games room, in addition to secure car parking and storage lockers.”

The project has been acknowledged globally as a benchmark in sustainable urban development, with notable initiatives including the reuse of the original structure’s 18-storey steel frame, which prevented 6,150 tonnes of carbon emissions, and 98 percent of demolition materials repurposed for local infrastructure.

While the apartments themselves hold universal appeal, Harry Ferreira, Chief Executive Officer of boutique finance firm Vega, points to a more compelling reason to act now.

"Buyers purchasing new-builds at today's prices could see immediate equity gains by settlement as New Zealand enters a rising property cycle through 2026."

Lloyd agrees, noting that in a rising market, timing is everything. “Buyers with the ability to secure a new-build home today, at today’s prices, retain significant financial opportunity.”

Positioned steps from the iconic Auckland Town Hall and theatre district, dining, retail, University precinct and the soon-to-open Te Waihorotiu CRL Station, One Greys Ave positions residents inside the city’s most walkable cultural precinct.

“As the Civic Quarter regeneration unfolds, including the Symphony Centre and Bledisloe precinct upgrades, One Greys Ave sits at the cusp of a new chapter for central city living,” Lloyd says.

“This is Auckland’s cultural engine room - theatre, film, performance, education, transport, entertainment - it’s all here. Whether as a first home, sometimes city residence or high-performance rental asset, this is an address with identity and enduring relevance.”