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Marine Terrace 04

Marine District. $1,980,000.

Marine Terrace 04Marine Terrace 04Marine Terrace 04Marine Terrace 04
Price
$1,980,000
Bedrooms
Three
Internal
204 m2
Floor
Fourth of six
Tenure
Leasehold
Built
2009

A fourth floor apartment in a six storey block of twelve, built in 2009 and managed by a residents committee rather than an external agent. Sea on three sides of the balcony.

The apartment was refitted in 2021, including a new kitchen, both bathrooms and full rewiring. Floors are engineered oak throughout except the wet rooms.

Two allocated parking spaces in the basement, a rarity in the block, plus a storage cage.

Accommodation

Reception8.4 x 5.6 m
Kitchen5.2 x 3.8 m
Principal bedroom with ensuite5.6 x 4.4 m
Bedroom two4.4 x 3.8 m
Bedroom three3.8 x 3.0 m
Balcony8.4 x 2.2 m

Lease and charges

TenureLeasehold, 89 years remaining
Service charge$4,800 a year, billed quarterly
What it coversBuilding insurance, lifts, generator, security, cleaning, sinking fund
Ground rentNominal, $120 a year
Sinking fund balance$186,000 as at December 2025
ManagementResidents committee, no external managing agent
ParkingTwo allocated basement spaces plus storage cage
PetsPermitted with committee consent, not unreasonably withheld

Not for most lenders, who become uncomfortable below about seventy. It is worth budgeting for an extension in the next decade so it does not become one, and the freeholder has extended for other flats in the block on reasonable terms.

The facade was repainted and the balcony waterproofing renewed in 2023, funded from the sinking fund with no additional levy. Lifts were replaced in 2019. No works are currently planned or reserved for.

Salt air is a real factor on this stretch. The block is on a five year external repainting cycle for that reason, and the aluminium windows were specified as marine grade. Buyers should expect more frequent maintenance than an inland property.