Archive | Hobsonville

7 of 19 intensive homes sell at Barfoot auctions

7 sold at Barfoot & Thompson’s city office auction sessions on Wednesday & Thursday out of 19 intensive living units listed below, which include apartments in both the cbd & suburbia, traditional brick & tile units, some terraces & townhouses and, from the Wednesday afternoon session, some cross-leased properties.

The properties listed below are all intensive in some form, so exclude standalone homes (unless they’re on a cross-lease).

A regular feature of the market is the appearance of properties at various stages of leaky building remediation, and 2 fit that description here.

Every agency handling apartments also has a supply of units in the brand-new Sugartree development’s second stage, Centro, to offer. Ray White City Apartments had 2 yesterday and Barfoots had one – all passed in.

The auction rooms have mostly been quiet, and the distinguishing feature has been the high proportion of the offering which attracted no bid – 6 of those listed here – despite, in some cases, bidders registering.


Learning Quarter

Tetra House, 85 Wakefield St, unit 413:
Features: one bedroom, 2 bathrooms
Outgoings: body corp levy $4196/year
Outcome: no bid, back on market at $349,000
Agents: John Zhang & Richard Tan


Kiwi on Queen, 421 Queen St, unit 805:
Features: 2 bedrooms
Outgoings: body corp levy $4591/year
Income assessment: $480/week current, fixed until February
Outcome: sold for $310,000
Agents: Stephen & Leo Shin

Victoria Quarter

City Oaks, 188 Hobson St, unit 210:
Features: fully furnished 2 bedrooms
Outgoings: rates $1201/year including gst; body corp levy $5775/year
Income assessment: vacant
Outcome: passed in at $260,000
Agents: Johnson Chen

Sugartree Centro, 145 Nelson St, unit 212:
Features: 100m² – 76m² internal, 24m² balcony, 2-bedroom apartment, 2 bathrooms, balcony, carport, storage locker
Outcome: passed in
Agent: Tristan Young

Isthmus east

Mt Wellington

50 Rutland Rd, unit 1:
Features: 2-bedroom unit, terrace, carport
Outcome: sold for $650,000
Agents: Carolyn & Peter Brooks


44 Pilkington Rd, unit 5:
Features: 2-bedroom unit, garage
Outcome: no bid
Agents: Jane Wang & Angela Liu


7B Lingarth St:
Features: 383m² section, 200m²-plus 4-bedroom townhouse, 2 bathrooms, office, courtyard, double garage
Outcome: no bid, back on market at $1.469 million
Agent: Paul Groom

50 Monteith Crescent:
Features: 1080m² section, 3 3-bedroom townhouses, all on fixed-term tenancies, 3 parking spaces
Outcome: passed in
Agent: Karin Cooper

276 Victoria Avenue, unit 1:
Features: cross-lease, 1/3 share in 993m², 2-level 4-bedroom townhouse, 2 bathrooms, conservatory, double garage
Outcome: no bid
Agents: Frances Li & Raymond Chan

Isthmus west

Grey Lynn

North Apartments, 197 Great North Rd, unit 205:
Features: 101m², 2-bedroom apartment, 2 bathrooms, balcony, double garage, secure storage
Outgoings: body corp levy $5284/year
Outcome: sold for $1.805 million
Agents: Ryan Harding & Louise Stringer

33 Mackelvie St, unit 1I:
Features: about 60m², one-bedroom apartment, secure parking
Outgoings: body corp levy $3374/year
Income assessment: $550-570/week
Outcome: sold for $550,000
Agent: Tim Roskruge

Summerfield Villas, 386 Richmond Rd, unit 1:
Features: m², 4-level 4-bedroom terrace, 2 bathrooms, double garage, reclad terrace, tandem internal-access garage; repair work on the complex now being undertaken in 3 stages following leaky building claim, work on this unit completed, vendor has set aside balance of repair levy but any further costs would be liability of new owner; there is a code compliance settlement clause
Outgoings: body corp levy $3602/year + remedial levies
Outcome: no bid
Agent: Jonathan White

Mt Eden

2 Matipo St, unit 2:
Features: 2-bedroom unit, garage
Outcome: sold for $958,000
Agents: Sara Knight & Vern Hines

905 Mt Eden Rd, unit 9:
Features: 2-level 5-bedroom house, 3 bathrooms, double internal-access garage, code compliance certificate not yet issued for original construction in 2004 & recladding this year
Outgoings: body corp levy $3422/year
Outcome: passed in at $1.38 million, back on market at $1.595 million
Agent: Sue Saywell

76 Wairiki Rd:
Features: cross-lease, half share in 1015m², 2-storey 4-bedroom bungalow, 2 bathrooms, study, 3 living areas, double garage
Outcome: no bid, back on market at $1.799 million
Agents: Derek Helliwell & Cathy Giles


3 Mars Avenue:
Features: cross-lease, half share in 850m², 3-bedroom bungalow, 2 bathrooms, carport
Outcome: passed in at $1.2 million, back on market at $1.315 million
Agents: Sara Knight & Vern Hines


104 Pupuke Rd, unit 2:
Features: cross-lease, half share in 1421m², 4-bedroom townhouse, 2 bathrooms, garage, carport
Outcome: sold for $980,000
Agent: Jonathan White

Northcote Point

12 Belle Vue Avenue, unit 4:
Features: cross-lease, 1/5 share in 1470m², 2-bedroom unit, internal-access garage
Outcome: sold for $769,000
Agent: Bev Bellas & Jo Meechan



255A Hobsonville Rd, unit 1:
Features: cross-lease, half share in 703m², 3-bedroom house, internal-access garage
Outcome: passed in at $735,000, back on market at $785,000
Agents: Kelly Zhang & Sammi Huang

Attribution: Auctions.

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Workspace office sells off plans

Published 30 October 2017, original version replaced:

A Kea Property Group office in the Workspace development area at Hobsonville has been sold off the plan by Kea associate Corinthian Properties Ltd (Dave McAlpine & Zane Gifford), through Colliers.



102C Hobsonville Rd:
Features: 600m² office, part of a $23 million development by Kea Property Group which includes a childcare centre, retail, cafes, commercial services & offices, with completion expected November 2018
Outcome: sold off the plan for $2.848 million + gst
Agents: Sean Finnegan & Craig Smith

Link: Kea Property Group, 102C Hobsonville Rd project

Attribution: Agency release.

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3 sales, a syndication & a lease

Colliers agents have completed 2 sales & a lease in West Auckland, another at Rosedale, and have completed the syndication of 4 distribution centres through Silverfin Capital Ltd.

Syndication sale

Features: 4 Provida Foods Ltd national distribution centres
Outcome: sold to investors in 233 parcels in a Silverfin Capital Ltd proportionate ownership scheme for a total $11.65 million
Agents: Charlie Oscroft & Kris Ongley



35 William Pickering Drive, unit 4:
Features: 946m², retail showroom/warehouse
Rent: $170,000/year net + gst from tenancy running until 1 March 2018       
Outcome: sold for $2.765 million at a 6.14% yield
Agents: Jimmy O’Brien (Colliers) & Marty van Barneveld (NAI Harcourts)



Hobsonville Workspace, 102 Hobsonville Rd, lots 3 & 4:
Features: 600m² off-the-plan office site developed by The Neil Group Ltd; building to be developed by Kea Properties Ltd, it will include a childcare, retail, cafes & office, completion expected end of 2018
Outcome: sold to Kea for $2.848 million + gst
Agents: Sean Finnegan & Craig Smith


101-103 Fred Taylor Drive:
Features: 3.55ha vacant industrial development site     
Outcome: sold for $10.5 million + gst
Agents: Sean Finnegan (Craig Smith (Colliers) & David Mayhew (JLL)




9 Northside Drive, lot 3:
Features: 720m² childcare centre leased to Eduplay Childcare Ltd
Rent: $390,000/year net + gst + opex
Agents: Sean Finnegan & Craig Smith

Attribution: Agency release.

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Hobsonville Pt townhouse sells

One townhouse was sold out of 3 auctioned at Bayleys branches around Auckland last week.

Isthmus east


Domain Terraces, 1AE George St:
Features: 228m² Paddington terrace, 3 bedrooms, 2.5 bathrooms, loft, storage, 2 parking spaces
Outgoings: rates $3931/year including gst; body corp levy $11,739/year
Outcome: passed in
Agents: Gary & Vicki Wallace


7B Sunset View Rd:
Features: 2-level duplex, 3 bedrooms, 2 bathrooms, double internal-access garage
Outcome: passed in, back on market at $849,000
Agents: Tim Stewart


Hobsonville Point

Buckley, 2 Station St:
Features: 3 bedrooms, 2 bathrooms, 2 lounges, parking space, one-year-old GJ Gardner townhouse
Outcome: sold for $900,000
Agents: Clare Ellis & Amelia-Jane Hoffmann

Earlier story:
Updated 22 August 2017: Updated: Now 3 commercial sales but homes passed in at auction

Attribution: Agency release.

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Hobsonville Land aims for more houses below median price

HLC Ltd has begun a programme with its builder-partners to increase the supply of new homes at or below the median price of homes in the vicinity of Hobsonville Point, currently $884,000.

HLC is the Government-owned company, formerly the Hobsonville Land Co Ltd, which is engaged in residential land development at Hobsonville Point, and now also at Northcote.

Chief executive Chris Aiken said on Friday the programme would focus on the Buckley B & Te Uru precincts at Hobsonville Point, where 500 homes would be built over the next 4 years at or below the average of the median house prices for the former North Shore & Waitakere cities, as published by the Real Estate Institute every month.

The homes built as part of this programme will be mainly 3- or 4-bedroom homes. Some 2-bedroom homes would also be built, and they’d mostly be terrace houses or apartments.

Mr Aiken said this programme was in addition to the company’s programme to deliver Axis series homes, currently priced at or below $650,000. 20% of all new homes at Hobsonville Point will be Axis series homes.

He said: “The only way to reduce house prices in Auckland is to increase the supply of housing below the median price,” but add that the builders were also motivated by the commercial opportunity: “This is the part of the market in which demand is greatest. Continuing to only build big expensive houses on large sections isn’t meeting the majority of market need.

“Auckland is changing, with more one- or 2-person households, and many homeowners prioritising lifestyle & amenity over a backyard or large house.”

Mr Aiken said these homes would be sold on the open market by the 8 building companies participating in the programme, and would not use a ballot system sometimes required for Axis series homes when demand exceeded supply.

Buyers must buy the property in their own name and be owner-occupiers, meaning the buyer must live in the home for a minimum of 2 years after purchase.

The first homes to be built as part of the programme are expected to be ready for occupation from mid-2018, but some are already available to buy off-the-plan through Ockham Residential Ltd & Classic Builders Group Ltd.

Attribution: Company release.

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8 out of 12 sell at Bayleys’ auction

8 of the 12 commercial properties in Bayleys’ Total Property auction on Wednesday sold under the hammer. Heaviest bidding was between intending owner-occupiers for a Penrose property on Olive Rd (pictured). 

Isthmus east


481 Parnell Rd:
Features: 300m² site zoned mixed use, in double grammar zone, 225m² 2-level character dwelling converted for commercial use with resource consent to demolish; new 4-year lease from May 2017 to Mt Hobson Properties Ltd (Hamish Firth)
Rent: $80,000/year net + gst
Outcome: sold for $2.45 million at a 3.26% yield
Agents: Alan Haydock, Damien Bullick & Phil Haydock


9 Olive Rd:
Features: 2043m² site, 1281m² older style industrial building, 884m² manufacturing warehouse, 257m² of offices & amenities and 109m² of mezzanines, first time on market in 34 years
Outcome: sold with vacant possession for $3.32 million at $2591.7/m² land & building
Agents: John Bolton & Roy Rudolph

Royal Oak

Royal Oak Mall, 691 Manukau Rd, unit AL:
Features: 226m² retail unit, occupied by Paper Plus since 1993
Rent: $48,845/year net + gst
Outcome: no bid
Agents: Nicolas Ching & Beterly Pan



47 Nile Rd:
Features: 688m² site zoned neighbourhood centre, 2 roadfront shops (superette & Thai takeaway) totalling 132m² and 92m² residential dwelling occupied by superette tenant; longer-term redevelopment potential
Rent: $56,200/year net + gst
Outcome: sold for $1.56 million at a 3.6% yield
Agents: Eddie Zhong, Terry Kim & Ranjan Unka

170 Wairau Rd, unit 22:
Features: 180m² retail unit in rear portion of Wairau Junction convenience centre, occupied by Wairau Foods & Spices which renewed in February for 6 years
Rent: $55,500/year net + gst
Outcome: sold for $840,000 at a 6.61% yield
Agents: Matt Mimmack & Ashton Geissler


4 Titan Place, unit R:
Features: 169m² workshop & office unit built in 2007, 3-phase power, air-conditioning, security alarm system, 2 parking spaces; 2-year lease to Ice Industrial Engravers Ltd from 1 July 2017
Rent: $22,500/year net + gst
Outcome: sold for $426,000 at a 5.28% yield
Agents: Rosemary Wakeman & Mustan Bagasra


The Grange, 67 Auckland Rd, unit 21A:
Features: 61m² unit in retail complex, currently fitted out as office accommodation and leased to Hawthorn Geddes Engineers & Architects for 6 years from April 2017; could be converted to retail
Rent: $21,315/year net + gst
Outcome: sold for $432,000 at a 4.93% yield; auction brought forward, bidding starting at declared reserve of $338,500
Agents: Matt Lee & James Chan

The Grange, 67 Auckland Rd, unit 15:
Features: 367m² unit in retail complex occupied by Fit Factory gym for 6 years from March 2017
Outcome: no bid
Agents: Matt Lee & James Chan



114 Henderson Valley Rd:
Features: 2140m² site, 80-unit storage complex
Rent: $145,218/year net + gst
Outcome: passed in on vendor bid of $1.7 million
Agents: Shane Snijder & James Hill


160 Hobsonville Point Rd, unit 5R:
Features: 118m² ground-floor retail unit, 2 parking spaces occupied by café on 10-year lease
Rent: $56,200/year net + gst
Outcome: no bid
Agents: Steven Liu & Eddie Zhong



232 Great South Rd:
Features: 2141m² site, 2025m² bulk retail building owned & occupied by family furniture business for 20 years, 2-year lease back
Rent: $170,000/year net + gst
Outcome: sold for $2.4 million at a 7.08% yield
Agents: Shane Snijder & Piyush Kumar


32 Elliot St:
Features: 809m² corner site, 2-level main building, 157m² of ground-floor offices plus 106m² residential floor & 36m² terrace above currently occupied by beauty therapy business; 1920s 90m²  bungalow at rear with separate entrance & residential tenancy
Rent: $46,540/year net + gst from 2 commercial leases; $23,400/year from residential tenancy
Outcome: sold for $1.32 million at a 5.3% yield
Agents: Rod Grieve & Peter Migounoff

Attribution: Agency release.

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HLC lifts Axis housing price cap, aligns income caps with HomeStart

Housing NZ Corp subsidiary HLC (2017) Ltd – the former Hobsonville Land Co Ltd – will raise its price cap for Axis Series “affordable” homes at Hobsonville Point from $550,000 to $650,000 on Saturday, 1 July, and will adjust income caps to align with KiwiSaver HomeStart grants.

Axis Series sections are smaller to keep the cost down, but the homes contain features such as double-glazing, extra insulation, rainwater capture and a weather-tight warranty.

HLC chief executive Chris Aiken said on Friday the income cap for individual buyers of Axis Series homes would come down on Saturday from $120,000 to $85,000 to be consistent with the HomeStart grant criteria. The income cap for couples (or 2 or more purchasers) will rise from $120,000/year to $130,000/year.

Anyone already approved under the old criteria will be unaffected.

Mr Aiken said Housing NZ would also take over the application & ballot process for Axis Series homes, although buyers of these homes would still buy them directly from the builders: “As the administrator of HomeStart, it makes sense for Housing NZ to also manage applications & approvals for Axis Series homes. This move will enable us to scale up the scheme as needed, as more new housing comes on stream across Auckland.”

Mr Aiken said a driver for raising the price cap for couples was to allow for more 2- & 3-bedroom homes to be delivered as Axis Series homes: “Rising construction costs have made it harder for our builders to deliver these homes under our current cap, and we risked losing diversity in our new stock as builders reduced home size to deliver within the price cap.”

HLC introduced Axis Series homes to its Hobsonville Point development before the launch of HomeStart, and Mr Aiken said it made sense to align this pricing with both HomeStart and the Government’s Welcome Home Loan criteria as many bidders for Axis Series homes were using these other services.

When the Government announced “affordable” price ranges in 2012, 10% of the houses were to be priced up to $400,000. Another 10% were to be priced between $400-485,000, 5% up to $450,000, 5% above.

The price caps were raised by $50-60,000 in May 2015, but 10% of homes were still to be built for $485,000 or less.

With the Axis price cap set at $650,000, at least 5% of homes will still be at or below $550,000 and at least 10% will be at or below $600,000.

Mr Aiken said that, as at 31 May, 422 Axis Series homes had been sold at Hobsonville Point: “We’re delighted with the market response, and pleased that our builder partners have applied such innovation & skill to ensure a high quality product even at more accessible price points.

“We know Axis has fostered new thinking in the affordable segment of the market with many builders, having developed techniques & approaches at Hobsonville Point, able to apply these more widely across their commercial building portfolio.”

Links: Axis series
Axis series, small home test lab

Earlier stories:
26 March 2017: Hobsonville Land becomes HLC
14 June 2015: Hobsonville Pt housing programme advanced, cheaper range ratio lifted
6 May 2015: Hobsonville Pt affordable brackets raised $50-65,000
19 March 2014: Hobsonville test lab points way to more housing innovation
19 November 2012: $485,000 top price for 20% of Hobsonville Pt housing
30 September 2009: Regional council approves urban limit shift days before first sod turned on Hobsonville development
8 June 2008: Comprehensive development plan for Hobsonville lodged
23 May 2008: Budget promotes Hobsonville project & separate affordability schemes

Attribution: Company release.

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Adams recognises importance of community, not just housing

The Government’s Hobsonville Point development reached a landmark 1000 homes occupied this week, celebrated with a visit to the latest residents by Social Housing Minister Amy Adams and local MP (and deputy prime minister) Paula Bennett.

HLC Ltd (ex-Hobsonville Land Co Ltd) chief executive Chris Aiken told the ministers 409 of new homes sold had gone to first-homebuyers and were in the “affordable” category, priced under $550,000. The average price across the development was $730,000.

Another 630 new homes are at various stages of production.

HLC has masterplanned the former Hobsonville airbase, but all the subdivisions on it are being carried out by private developers. The 1000th home, on Squadron Drive, is by Jalcon Homes.

Ms Adams, who’s also minister responsible for social investment, brought a different perspective to the housing role from her predecessor’s in a city where construction hasn’t kept pace with net immigration, let alone internal population growth.

Nick Smith, as housing, building & construction minister (and he retains the last 2 of those titles), was all about getting construction numbers up, and never sounded like he wanted to put that in context.

Ms Adams was pleased to see the 167ha of Hobsonville Point being turned into a vibrant community: “It’s not just about the new houses we’re building, it’s about the quality of community.”

Many of the homes at Hobsonville Point fit HLC’s Axis series design of cheaper, highly efficient construction, and Ms Adams said that raising the standard in this way would have an effect far beyond Hobsonville Point.

She also noted that, although the Government had instituted a programme of putting Crown-owned land to more productive use, including housing development, its holdings represented only 5% of housing land in Auckland.

Crown land is being used to lift construction output, and Ms Adams said that was a strategy that could be adopted in future downturns, to help the sector meet capacity requirements.

She also visited a new $12 million transitional housing complex on Puhinui Rd, Manukau, yesterday, and put that spurt of emergency accommodation into perspective: “When we think about social housing, it’s not just the number of houses [or flats or motel beds]. You have to think: Is there a market of houses we can move people back into?”

Hobsonville Point is one of many developments around the Auckland which have begun to lift construction from the low point in 2011, when only 13,500 consents for new homes were issued nationally. In the last 12 months, 10,200 consents have been issued in Auckland alone.

The 72-unit Puhinui Rd facility will help house up to 560 families/year, out of an estimated 3660 Auckland families and 8600 nationally who would need transitional housing in a year.

Attribution: HLC & ministerial releases, Hobsonville visit.

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Ngai Tahu Property secures another 2ha at Hobsonville Pt

Ngai Tahu Property Ltd has entered into a development agreement to build over 200 homes on 2ha at Hobsonville Point, one of the last undeveloped sites in the masterplanned community at the top of the Waitemata Harbour.

The newest acquisition resulted from an expression of interest process HLC Ltd (formerly the Hobsonville Land Co Ltd) conducted late last year. Ngai Tahu Property chief executive David Kennedy said yesterday it effectively doubles the size of the Kerepeti development, which will now deliver 417 homes over a combined 4ha.

The new site will contain a mix of apartments, terraced homes & walk-up apartments.

Based on a masterplan by Isthmus Group, the homes will be delivered in 4 stages. The first stage will contain 27 2½- & 3-bedroom terraces and 9 1½- & 2-bedroom walk-ups.

Mr Kennedy said 30% of the homes would be priced in keeping with Hobsonville Point’s Axis affordable homes programme.

Ngai Tahu Property is already developing 2 sites at Hobsonville Point through a consortium with the NZ Super Fund & New Ground Capital Ltd, but Ngai Tahu Property is undertaking this project on its own. The first homes on the consortium’s 2 sites, Uku & Kerewhenua, are due for completion early next year and will be available for sale off the plan from September through Colliers.

Ngai Tahu’s 3 development sites – 2 as part of a consortium.

Mr Kennedy said most of the homes in the new development would be available for sale as they are developed but, as with the accessible philosophy for the Kerepeti development as a whole, a portion will be retained and made available as long-term rental properties to be managed by New Ground Capital.

“We are committed to delivering attractive & functional homes that are in keeping with the fantastic location. All of the sites deliver a strong, connected community that adds to and benefits from the great levels of amenity that have made Hobsonville Point one of the most desirable new places to live in Auckland.”

HLC chief executive Chris Aiken said Ngai Tahu Property had demonstrated that developers can combine quality urban design, affordable housing & sound commercial returns working in partnership with the Government-owned HLC.

Earlier story:
5 May 2017: Construction starts on Ngai Tahu subdivision at Hobsonville Pt

Attribution: Company release.

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Construction starts on Ngai Tahu subdivision at Hobsonville Pt

Construction has started on Ngai Tahu’s innovative new residential development for Hobsonville Point that includes a number of long-term rentals.

It’s funded by the NZ Super Fund, Ngai Tahu Property Ltd & New Ground Capital Ltd.

The 208-home development on the former Defence Force base at the top of the Waitemata Harbour, announced in December 2015, was the initial step for Ngai Tahu Property into the Auckland market and is the first direct property investment for the NZ Super Fund.  First homes in the development will be on sale off the plans from September and the whole development is due to be completed by the end of 2018.

The Ngai Tahu development, now known as Kerepeti, covers 2 1ha superlot sites called Kerewhenua (111 homes) & Uku (97 homes).

The NZ Super Fund & Ngai Tahu Property are investing 48% each of the capital required for the development, and New Ground Capital is contributing the remaining 4%.

Each superlot will consist of a mix of apartments, terrace homes & walk-up apartments based on a masterplan by Context architects. They’ll be built by 4 local building companies – Classic Builders Ltd and Naylor Love Ltd (Kerewhenua) and Jalcon Homes Ltd & Haydn & Rollet Ltd (Uku).

About 50% of the 1- to 4-bedroom properties will be priced under the Auckland median house price and 30% will be priced in keeping with the Hobsonville Point affordable homes Axis programme.

About three-quarters of the homes will be available for sale as they are developed, but 47 are to be retained and made available as long-term rental properties to be managed by New Ground Capital, which was set up in 2014 to develop a long-term rental portfolio.

Anyone can apply to rent one of these homes once completed, with lease terms of up to 7 years to provide security of tenure, while still allowing leaseholders to shorten their lease should their circumstances change.

Ngai Tahu Property chief executive David Kennedy said: “The shared vision for this development was to ensure public & iwi funds are reinvested into infrastructure for the long-term benefit of New Zealanders – those who live there and the investors themselves.

“With building of terrace homes and early foundation works for the apartments now starting on both of the superlot sites, we are on the way to ensuring a broader section of the market, be they renter or homeowner, can have a quality place to live and enjoy access to all the amenities & lifestyle on offer at Hobsonville Point.

“We expect the new long-term rental properties to be listed on in the third quarter of this year.”


Ngai Tahu Property
NZ Super Fund
New Ground Capital
New Ground Living

Attribution: Company release.

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