Latest news with #SimplicityLiving
Otago Daily Times
16 hours ago
- Business
- Otago Daily Times
600 rental homes planned in Queenstown development
Six hundred build-to-rent units are on the way for Queenstown in a $500 million Simplicity Living development. The company owned by KiwiSaver and investment funds is managed by Simplicity NZ Ltd. It has already built 210 homes across Auckland, with another 889 under construction. It has just acquired a 6.1ha site on Ladies Mile, north of the Stalker Rd roundabout, for its first development outside the City of Sails, with an aspiration to build 2000 homes in the resort. Simplicity NZ managing director Sam Stubbs said they were working closely with the Queenstown Lakes District Council on the infrastructure required to enable construction to start. Once that was in place, and they had the necessary consents, "we're ready to go". Based on the Auckland developments, the first tenants could be living there within 13 months of the start. "We've always had our eye down here, because we thought that the economics of Queenstown makes sense because it's growing, the rents are good, and there's this massive need for housing people who live here," he said. The Queenstown development will likely comprise three-storey walk-up apartments, in one-, two- and three-bed configurations, noting there was a huge gap in the market for one- and two-bedders. Two live-in managers will also be employed. The units will primarily be built using concrete, brick and local schist, with an expected lifespan of over 150 years. "The idea for us on this one ... is to do a lot of green space, a lot of carparks, a lot of outdoor storage, because it's got to be Queenstown-specific," Mr Stubbs said. While initially the homes will be for long-term rent, they may consider selling some to retirees or first-home buyers. He also believed they would be able to build them "slightly cheaper" than in Auckland and while he could not put a figure on the rental cost, he noted Simplicity Living's rents were usually 5%-10% below market value. Regardless, Queenstown rents would justify the development cost. Queenstown Lakes Community Housing Trust chief executive Julie Scott said the proposed development "interconnects" with the work the trust was doing. The trust had 1480 eligible households on its waiting list, "and we know that we can't ... house them all tomorrow, or even in the next few years". Before work can start, though, infrastructure to the site needs to be sorted. Mr Stubbs said Simplicity wanted to help with that, too, but noted the council was getting all of the Ladies Mile landowners together to have a look at what was required — "we've never had that happen before". Queenstown Mayor Glyn Lewers said the "$60 million question" was who would pay for it. "We're quite happy for [the developer] to put the infrastructure in, and then we'll offset the development contributions at the other end when it comes to creating title. "Our debt limits and our capacity to do that front-loading of infrastructure, especially within growth nodes in this district, has become quite tight. "We'll put in where we can, and where we need to, but the way we're structured financially at the moment, we're looking for partnerships to actually provide this great social benefit." However, council was committed to working it out because the outcome was "so beneficial" to the area. Mr Lewers said he had been having "quite intense" conversations with NZ Transport Agency Waka Kotahi about potential solutions for traffic implications. "The regional deal construct certainly helps that conversation."
Scoop
a day ago
- Business
- Scoop
Simplicity Living Buys Queenstown Land For Up To 600 Build-To-Rent Homes
Press Release – Simplicity Living We have been keen to build in Queenstown for a couple of years, and have now found the right site. Its a cracker, said Shane Brealey, Managing Director of Simplicity Living. Simplicity Living has announced the acquisition of a 6.1-hectare site on Ladies Mile in Queenstown, where it plans to build up to 600 high-quality homes for long-term rent. 'We have been keen to build in Queenstown for a couple of years, and have now found the right site. It's a cracker,' said Shane Brealey, Managing Director of Simplicity Living. 'As one of the most unaffordable and constrained housing locations in New Zealand, we prioritized bringing our high-quality, secure tenure Build-to-Rent housing solution to the region,' he said. Located near Remarkables Park, the site is close to planned schools, shops, and transport links. The homes will be built primarily using concrete, brick, and local schist, with an expected lifespan of over 150 years. The homes will have high thermal and acoustic ratings, solar panels, rainwater harvesting and common use facilities including work-from-home spaces, residents' lounges and outdoor equipment storage. Extensive landscaping will give the property a residential park atmosphere. There will also be extensive car and bike parking, with direct access to local bike trails and the planned gondola development. The historic Shotover Bridge is a 10-minute walk away, and Queenstown International Airport is just a five-minute drive away. This is the first Simplicity Living development outside Auckland, and will be its largest to date, with an estimated end value of up to $500 million. 'This is another example of the sort of thing our KiwiSaver scheme can help make possible. We think it's a good long-term investment for our members and helps provide warm, dry homes for Kiwi families, in a region that urgently needs them,' said Sam Stubbs, Managing Director of KiwiSaver default provider Simplicity. Glyn Lewers, the Mayor of Queenstown welcomed the announcement. 'We're thrilled that Simplicity Living is bringing this much-needed rental product to the Whakatipu housing market. The addition of up to 600 new Build-to-Rent homes will be a game changer for our community, offering secure long-term rentals'. 'It's a tangible step forward in delivering Action 5D of the Joint Housing Action Plan – working with developers to facilitate and deliver diverse housing options, including Build-to-Rent developments,' he said. Simplicity Living currently has 889 homes under construction across Auckland, including in Remuera, Mt Wellington and Morningside, and announced last week that it will start building another 93 homes in Northcote by the end of the year. Its long-term plan is to build up to 10,000 homes across New Zealand for secure, long-term renting. Simplicity Living is owned by KiwiSaver and Investment Funds managed by Simplicity NZ Ltd.
Scoop
a day ago
- Business
- Scoop
Simplicity Living Buys Queenstown Land For Up To 600 Build-To-Rent Homes
Press Release – Simplicity Living We have been keen to build in Queenstown for a couple of years, and have now found the right site. Its a cracker, said Shane Brealey, Managing Director of Simplicity Living. Simplicity Living has announced the acquisition of a 6.1-hectare site on Ladies Mile in Queenstown, where it plans to build up to 600 high-quality homes for long-term rent. Simplicity Living – Queenstown land. Photo/Supplied. 'We have been keen to build in Queenstown for a couple of years, and have now found the right site. It's a cracker,' said Shane Brealey, Managing Director of Simplicity Living. 'As one of the most unaffordable and constrained housing locations in New Zealand, we prioritized bringing our high-quality, secure tenure Build-to-Rent housing solution to the region,' he said. Located near Remarkables Park, the site is close to planned schools, shops, and transport links. The homes will be built primarily using concrete, brick, and local schist, with an expected lifespan of over 150 years. The homes will have high thermal and acoustic ratings, solar panels, rainwater harvesting and common use facilities including work-from-home spaces, residents' lounges and outdoor equipment storage. Extensive landscaping will give the property a residential park atmosphere. There will also be extensive car and bike parking, with direct access to local bike trails and the planned gondola development. The historic Shotover Bridge is a 10-minute walk away, and Queenstown International Airport is just a five-minute drive away. This is the first Simplicity Living development outside Auckland, and will be its largest to date, with an estimated end value of up to $500 million. 'This is another example of the sort of thing our KiwiSaver scheme can help make possible. We think it's a good long-term investment for our members and helps provide warm, dry homes for Kiwi families, in a region that urgently needs them,' said Sam Stubbs, Managing Director of KiwiSaver default provider Simplicity. Glyn Lewers, the Mayor of Queenstown welcomed the announcement. 'We're thrilled that Simplicity Living is bringing this much-needed rental product to the Whakatipu housing market. The addition of up to 600 new Build-to-Rent homes will be a game changer for our community, offering secure long-term rentals'. 'It's a tangible step forward in delivering Action 5D of the Joint Housing Action Plan – working with developers to facilitate and deliver diverse housing options, including Build-to-Rent developments,' he said. Simplicity Living currently has 889 homes under construction across Auckland, including in Remuera, Mt Wellington and Morningside, and announced last week that it will start building another 93 homes in Northcote by the end of the year. Its long-term plan is to build up to 10,000 homes across New Zealand for secure, long-term renting. Simplicity Living is owned by KiwiSaver and Investment Funds managed by Simplicity NZ Ltd. Content Sourced from Original url
1News
a day ago
- Business
- 1News
Major new build-to-rent development to ease Queenstown housing woes
A massive new housing development focused solely on a 'build-to-rent' model is expected to ease housing woes in Queenstown. Simplicity Living, an off-shoot to KiwiSaver provider Simplicity, has bought just over six hectares of land on Ladies Mile to build 600 build-to-rent homes and apartments. "As one of the most unaffordable and constrained housing locations in New Zealand, we prioritised bringing our high-quality, secure tenure build-to-rent housing solution to the region," manager director Shane Brealey said. It is one possible solution to a problem that plagues the district – houses that sit empty most of the year. The Queenstown Lakes District Council estimates around 6000 residential properties have been consented in the past five years – many are yet to be built. ADVERTISEMENT Julie Scott from Queenstown Lakes Community Housing Trust said the region had plenty of new homes being built, but not enough being rented out. (Source: Breakfast) But many of those will never be lived in for the long-term because many are holiday homes or short-term accommodation. Queenstown Lakes Community Housing Trust chief executive Julie Scott told 1News, "the latest Census results said that we have 27% of our homes in the district unoccupied." "That's more than a quarter of houses sitting empty every single night. It's absolutely nuts." The housing trust has already built some mixed-use properties in the town, but demand for long-term rentals is outstripping supply. "We currently have 1480 eligible households on our waiting list across Queenstown and Wanaka [and] 83% of those are Queenstown based," Scott said. "We can't help all of them straight away. We need more entry-level market rental properties." ADVERTISEMENT Simplicity managing director Sam Stubbs told 1News while 42% of people in the OECD live in apartments, in New Zealand the number is just 4%. "What we want to do is show New Zealanders and, in this case, the people of Queenstown [is] that you can actually rent for the long-term in a really high-quality place at an affordable price and you can do that forever if you want to," he said. Simplicity Living currently has 889 homes under construction across Auckland. But this is the first development outside the supercity and the largest development with an estimated value of around $500 million. A completed Simplicity Living development on Range View Rd in Mt Wellington, Auckland. (Source: Supplied / Simplicity Living) "This is another example of the sort of thing our KiwiSaver scheme can help make possible," Stubbs said. "We think it's a good long-term investment for our members and helps provide warm, dry homes for Kiwi families, in a region that urgently needs them.' Queenstown Lakes mayor Glyn Lewers told 1News he is pleased to see the concept come together in the tourist town on a large scale. ADVERTISEMENT "Honestly, a game changer. It allows nurses, police, teachers to have a place to stay and actually work and live in Queenstown." While in this case, KiwiSaver is used to help build capital for construction, the Government has pushed through a build-to-rent amendment bill to make it easier for foreign investment in the model. It passed its first reading in June and will head to select committee. In the meantime, Lewers is aware while more rentals is one thing, there is also focus on infrastructure challenges that surround new developments. "We've still got to sort out the transport issues, we've still got to sort out the underground infrastructure," he said. "And look, the Government's also got to step up with schooling and health as well." He continued, "We know that mum and dad driving their kids to school in the morning contributes to the traffic. So, if we could have schools in the right spots, it obviously alleviates that."
NZ Herald
a day ago
- Business
- NZ Herald
Simplicity Living announces $500m 600-unit Queenstown build-to-rent scheme
Build-to-rent apartment developer Simplicity Living plans a $500 million scheme for 600 apartments at Frankton's Remarkables Park outside Queenstown, buying land from Australian businessman Karl Jameson's company. Managing director Shane Brealey said Simplicity had bought a 6.1ha site at 12 Lower Shotover Rd. That is a greenfield site almost directly
