Who is the developer?
NZ Living Mason Ave Limited (“NZ Living”) which is a company that Shane Brealey is the sole director of and formed to undertake the Mason Square development. Shane has extensive development and construction experience.
How will the project be built?
Shane Brealey has over 30 years’ experience in this form of construction and is responsible for carefully selecting the team that will build the project. 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 70% of all subcontractors and suppliers already selected for the project. CB Projects Limited will perform the lead builder role.
Can the purchase price be increased?
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 we have the majority of major building components quoted on agreed rates. An independent professional Quantity Surveyor has prepared a cost plan and our proposed bank funder has reviewed our development feasibility. Along with adequate provisions for escalation and contingency we are certain of our financial forecasts.
How is the project being funded?
The shareholders of the development company have the financial capacity to fund the project in conjunction with Development Funding from the ASB Bank. There will be no mezzanine finance or third party debt or equity involved.
Is there a Body Corporate and what are the costs?
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 for an initial period. Opus International has prepared a 20 year Long Term Maintenance Plan (LTMP) noting costs are significantly lower than comparable developments
Can I as an owner be a member of the Body Corporate?
Yes, Owners can elect to be voted on the body corporate committee.
What is the quality of construction?
High quality construction materials will be used throughout. Our team has selected materials with lasting durability and low maintenance. All floors are solid concrete. Reinforced concrete blocks and brick is used extensively and double glazing to all apartment windows and sliding doors will provide superior acoustic and thermal qualities.
Where do visitors park their cars?
Within the development there is parking for apartment occupants as purchased with each property. Visitors will find carparking on the street or adjacent carparks.
How is rubbish and recycling managed?
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.
What security access provisions are provided?
A swipe of proximity card will provide access to the building stair lobby door. Normal keys will be provided for apartment entry doors.
How will the landscaping be maintained and vegetable garden and barbeque area be managed?
A contractor will be appointed by the Body Corporate to maintain all common landscaping areas. The vegetable garden area is provided for residents to attend to as they wish with the Body Corporate overseeing this and the common use barbeque facility to ensure it is maintained neat and tidy. Fruit trees will provide fruit for residents to share.
Are pets allowed?
Yes, with Body Corporate approval. Please refer to the Body Corporate rules if you plan to have a pet.
What deposit is required?
An initial $5,000 deposit, which is then topped up to 10% of the purchase price for NZ Residents (20% for non NZ-Residents) after 10 Working Days. Refer to the step by step Purchase Process guide, or speak with your Salesperson (Bayleys).
Where will the deposit be held and will it be interest bearing?
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.