The following advertises a client vendor's apartment:

"A fantastic apartment on offer with extremely motivated vendors in the very prestigious Viaduct district. Two-bedroom, two-bathroom leasehold apartment, nestled in a secluded corner of the quay, situated on the absolute water's edge with balcony. The apartments are designed with effortless flow, enhanced by floor-to-ceiling glass windows which let light stream in. In the midst of Auckland's best entertainment.: Part of a facility with numerous facilities, including a swimming pool and gym, and comes with two secure car parks. ......"

In your own words identify:

(a) what type of property this is [1 mark]

and

(b) explain to a potential purchaser the implications of owning property in this way