Ockham launches new apartment development onto ‘thawing’ market
Saturday, 15 November 2025
High-profile developer Ockham Residential has announced plans for a new Auckland inner city fringe apartment block, and the move hints that better times for the market might be ahead.
Ockham is marketing The Kubrick, a nine level, 52-unit apartment block which will be built on a 2600sqm plus site between Pratt St and Anglesea St in Freemans Bay.
It currently has 12 two-bedroom townhouses, built in the 1980s and with watertight issues on it, but they are due to be demolished and the developer has received consent for the complex.
The purple brick clad Kubrick will be a mix of two, three, and four-bedroom apartments with plenty of parking and storage, and will have multiple dedicated communal spaces across the building, including a pool.
A Japanese-inspired courtyard garden will be at the core of the building which is bordered by Harry Dansey Reserve, and is close to Western Park, Ponsonby Rd and the CBD.
It is the first new apartment development to be announced by Ockham in some time and co-founder Mark Todd says the launch comes at a time when they are seeing a lot more people through their sales suites.
“The market is definitely thawing, and people are increasingly realising that the low point of the property cycle is in the rear-view mirror. So we are optimistic about the market showing more signs of liquidity in the pre-sales sector next year.”
Following the soft launch there have been hundreds of registrations of interest, and Ockham is working to complete the building consent, he says.
“We are committed to delivering the most exciting and aspirational project we can for Auckland. It will be officially launched in February next year and completed three years from now, subject to sales.”
Two years ago, Ockham put its plans for The Feynman, a seven-level, 165-unit complex in Grey Lynn in Auckland it had launched a year earlier, on hold due to the market downturn.
Despite Todd’s optimism that the market is starting to recover, the company currently has no plans for the site intended for The Feynman, he says. “We’re trying to unlock our projects one development at a time.”
In September Ockham officially opened its two latest high-rise apartment blocks, Toi and Whetū, in Point Chevalier. They are the first in its Maungārongo development, part of a new Auckland suburb rising on the grounds of the old Carrington Hospital.
News of The Kubrick’s launch came shortly after the release of CBRE’s latest Auckland apartment data which showed the market remains quiet, and development at a record low.
The commercial real estate company’s figures had the pipeline of work dropping by seven projects to 47 in the second quarter of this year, down from 54 in the first quarter.
Only four of those seven projects are in the marketing stage, with the rest either building consent issued or under construction.
But CBRE director Tamba Carleton says although the pipeline has shrunk and presales remain low, the past quarter has seen a noticeable uplift in activity indicative of a commencement in market recovery.
More developers are scoping new project opportunities, pricing of new launches is starting to show some diversity, development sites are transacting, and partnership deals are being inked, she says.
“There has definitely been an improvement in sentiment, and the recent OCR cuts and interest rate declines are helping with that.
“We believe the market downturn is over. Now, the market is picking up, with more development activity taking place, but it’s behind the scenes.
“Developers are not out there making public announcements about what they are doing because they are concerned projects may not come off.”
The Kubrick is one of the exceptions to that, with Ockham out there gathering interest, and preparing to show plans and pricing, and that’s positive, she says.
“Precinct Properties also launched its Pillars development recently, and Fletcher Living now has the Belvedere stage of The Hill development underway. The market is edging towards recovery.”
Precinct’s boutique development in St Mary’s Bay will feature 20 luxury residences across two apartment buildings, and marks another step in the developer’s expansion into the residential sector.
Scott Pritchard, the company’s chief executive, says it is a significant milestone in its commitment to creating exceptional homes within Auckland’s city fringe.
“There’s a real opportunity for well capitalised property companies to reshape the residential market - introducing a new standard of quality, scale, and long-term care. Pillars, and future projects is our commitment to delivering that vision.”
Meanwhile, a Fletcher Living spokesperson says the Belvedere apartment build, which is on former Ellerslie Racecourse land, is progressing on schedule, and in line with the programme agreed with its main contractor, Naylor Love.
“Sales are tracking according to its forecast, with approximately 40% of apartments secured through presales prior to work commencing on site. Remaining sales are forecast to occur progressively through to build completion and beyond.”
The current housing market remains challenging, although there have been encouraging signs of improvement, they say.
“Market sentiment suggests that the next 12 months are likely to bring gradual price increases - a trend consistent with previous market recovery cycles.”
There are some prominent apartment developments already under way around the city. They include Pompallier on Ponsonby, Chelsea Rise in Birkenhead, and Simplicity Living’s huge build-to-rent on Ellerslie Racecourse land.
In Auckland’s CBD, once ground zero for apartments, there are two on the cards. One is Seascape, where construction recently restarted after a nine-month break and a construction company change. The other is the Symphony Centre, where construction is due to start next year.