FREQUENTLY ASKED QUESTIONS
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.
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.
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.
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.
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.
Yes, Owners can elect to be voted on the body corporate committee.
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 +.
Within the development there is parking for apartment occupants as purchased with each property. Visitors will find carparking on the street.
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.
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.
A contractor will be appointed by the Body Corporate to maintain all common landscaping areas.
Yes, with Body Corporate approval. Please refer to the Body Corporate rules if you plan to have a pet.
5% deposit of the purchase price including carpark if applicable.
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.
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.
Yes the apartments will be Stratum in Freehold, commonly known as Freehold Unit Title.
Yes, the Resource Consent was issued by Auckland Council for the project in December 2020.
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.