Eighteen months after launching a major Build to Rent (BTR) programme, Simplicity Living has begun construction of its third residence, in Owairaka/Mount Albert, Auckland.
The 51 apartments will be available for long-term renting, and follow the company’s model of larger-than-normal apartments, with HomeStar 6 levels of build quality and energy efficiency.
The first Simplicity Living residence, Kupenga, in Point England, opened last month, with 69 apartments already home to more than 150 residents across all age groups and 24 nationalities.
Twenty percent of residents took up the optional 10-year rental terms, with good value rents fixed for two years, and increases after that linked at or below inflation.
“Demand was very strong for the Kupenga apartments, and there is already a waiting list for the 42 apartments in Stage 2 of this development, due to be completed in August,” Simplicity Living managing director Shane Brealey says.
The second Simplicity Living residence comprises 48 apartments in Onehunga, and is due for completion in July. This also has very strong expressions of interest.
Simplicity Living is aiming to build 10,000 homes for rent nationwide. So far, 69 homes have been completed, with another 141 in construction, and a further 620 in development and planning.
“It’s relatively simple. The long-term solution to our housing crisis is to build a lot more warm, dry, high-quality homes in great locations and with good value rents,” Brealey says.
“And Build to Rent homes can provide very reliable returns over the long term. Just ask the thousands of Kiwis who already own rental properties.”
“Environmental considerations include using lower carbon concrete, efficient water and power use fittings, rainwater harvesting, high performance solar double glazing, e-car charging units and some 3000 native plants throughout the landscaping.
“In addition, we are funding the planting of a native tree for every apartment, every week,” Brealey says.
