FREQUENTLY ASKED QUESTIONS
Who is the developer?
NZ Living Greenslade Limited (“NZ Living”) which is a company that Shane Brealey is the sole director of and formed to undertake this development in conjunction with some short term funding support from the ASB Bank. Shane has extensive development and construction experience. NZ Living has completed 86 Apartments at Mason Square, 42 Apartments at 340 Onehunga Mall, 102 apartments at Fraser Avenue, 30 apartments under construction at 165 Lake Road, 27 apartments at Awataha Drive, Northcote and 75 apartments at Hinaki Street in Point England.
How will the project be built?
NZ Living will build this project as we do for all our projects. Shane Brealey, Anna Brealey and Brandon O’Reilly lead the construction team. We think it is important to stand behind the project all the way through rather than entrusting a third party builder who has no relationship with our customers. The project has been comprehensively planned with over 90% of all subcontractors and suppliers already selected for the project.
Can the purchase price be increased?
No, the price stated in the Sale and Purchase Agreement is the price you will pay for your apartment. Whereas a small number of other developments have been caught out by underestimating construction costs and extended programmes. NZ Living controls every aspect of construction to ensure delivery is on time and budget. This has been evidenced on our Mason Square, 340 Onehunga Mall, and Fraser Avenue projects. Along with adequate provisions for escalation and contingency we are certain of our financial forecasts.
How is the project being funded?
The shareholders of the development company have the financial capacity to fund the project in conjunction with some short-term support from the ASB Bank. There will be no mezzanine finance or third party debt or equity involved.
Is there a Body Corporate and what are the costs?
Yes, a Body Corporate is created whenever there is a Unit Title property. Auckland Body Corporate have been engaged to provide advice on the draft body corporate budget and it is intended that they will be appointed Body Corporate manager. Opus International has prepared a 20 year Long Term Maintenance Plan (LTMP) for typical NZ Living developments noting costs are significantly lower than comparable developments.
Can I as an owner be a member of the Body Corporate?
Yes, Owners can elect to be voted on the body corporate committee.
What is the quality of construction?
High quality construction materials will be used throughout. Our team has selected materials with lasting durability and low maintenance. All floors are solid concrete including at roof level. Reinforced concrete blocks and brick is used extensively along with aluminium wall cladding and double glazing to all apartment windows and sliding doors will provide superior acoustic and thermal qualities. Our philosophy is to aim for buildings that will last for 200 years +.
Where do visitors park their cars?
Within the development there is parking for apartment occupants as purchased with each property. Visitors will find carparking on the street.
How is rubbish and recycling managed?
An enclosure for wheelie bins will be serviced several times per week by an external contractor under the management of the Body Corporate and the Body Corporate Manager.
What security access provisions are provided?
A proximity card will provide access to the building stair lobby door. A video intercom to each apartment enables visitor entry. Normal keys will be provided for apartment entry doors.
How will the landscaping be maintained?
A contractor will be appointed by the Body Corporate to maintain all common landscaping areas.
Are pets allowed?
Yes, with Body Corporate approval. Please refer to the Body Corporate rules if you plan to have a pet.
What deposit is required?
5% deposit of the purchase price including carpark if applicable.
Where will the deposit be held and will it be interest bearing?
Your deposit will be held in trust by solicitors Alexander Dorrington as stakeholder. Interest will accrue to your favour with interest earned, less usual fees and withholding taxes, reducing the final settlement amount.
How many apartments and carparks are there?
129 apartments in total and 119 available carparks. Each of the 27 open-market apartments come with an allocated carpark. Each of the 60 KiwiBuild apartment buyers can elect to purchase a carpark for $40k in addition to the apartment, lease a carpark or not have a carpark. These are available on a first come first served basis. In addition to the 87 Apartments being sold, 42 Apartments are being retained to offer as long term secure tenancies targeted for teachers, nurses, and other essential employees in the Northcote area.
Are the apartments freehold?
Yes the apartments will be Stratum in Freehold, commonly known as Freehold Unit Title.
Has resource consent been granted?
Yes, the Resource Consent was issued by Auckland Council for the project in December 2020.
When will my apartment be ready to move into and what is the sunset date?
We are targeting Practical Completion by mid-late 2022. Following this Code Compliance Certificate and new Titles will be issued to enable settlement. To protect against any unforeseen delays, the Agreement for Sale & Purchase includes a Sunset Date 30 June 2023.
