New Ground Capital has teamed up with the NZ Super Fund and Ngāi Tahu Property to develop 208 new homes at Hobsonville Point, of which 47 will be retained by the consortium as long term rental units and the balance sold on the open market.
Ngāi Tahu Property are acting as development manager and New Ground will be responsible for managing the rental properties. Construction is well underway, with the first homes already complete and the remainder completing over the rest of 2018 and early 2019.
The development offers a mix of housing typologies ranging from apartments and terraced housing, through to standalone homes. At least half of these homes are being offered to the market beneath the Auckland median house price.
47 of the homes being built will be retained by the consortium and made available as long-term rental properties. Anyone can apply to rent one of these homes once they are offered to the market via the New Ground Living website in mid 2018.
This initiative will offer people a rare opportunity to lease a professionally managed rental property in a neighbourhood with high quality amenities, including the new Hobsonville Point primary and secondary schools. With lease terms of up to seven years, leaseholders will know that they have security of tenure, whilst still being able to shorten their lease should their circumstances change.
New Ground Property Management Limited will be responsible for managing the rental properties, and more information can be found on these properties on the New Ground Living website.
Axis Series Homes
A number of the homes are being in the 'affordable' category, priced from $450,000. These homes are known as "Axis Series" homes and come with pre-qualification requirements.
To pre-qualify, potential owners must:
- be New Zealand permanent residents or citizens;
- have a household income no higher than $120,000 gross per annum;
- agree to live in the house for a minimum of two years, and;
- agree to keep the home in their own name and not that of a Family Trust, company or nominee.
For further information on how you purchase one of these houses please visit the Axis series homes website.
For information on this development please contact Roy Thompson at email@example.com or on 021 783 043.