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.
Has the Resource Consent been granted?
Yes, formal Resource Consent was granted by the Auckland Council on 23rd February 2017. Your Salesperson (Bayleys) can provide a copy.
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.
When will construction start?
Subject to presales and final requirements from ASB Bank we expect to start construction in July 2017.
What is the anticipated completion date?
The construction period is 11 months which gives us an anticipated completion date of June 2018. To protect against any unforeseen delays and for funding purposes the Agreement for Sale & Purchase includes a sunset date of 30th November 2018.
How many apartments are there?
There are 50 apartments in Stage 1 comprising 3 x studio apartments, 6 x 1 bed apartments and 41 x 2 bed apartments.
What are the plans and timing for Stage 2?
Stage 2 will be offered for sale upon the successful sell down of Stage 1. Our hope is that there will be sufficient demand to enable one continuous sales and construction process including the additional 32 apartments within Stage 2. Regardless, the development has been planned so that Stage 2 can follow without inconveniencing Stage 1 owners thanks to the second access from Hall Avenue. In case of unlikely events, e.g. market conditions change, we may not be able to build Stage 2. You will see provisions in the Agreement for Sale and Purchase that address this.
Will the apartments be Freehold?
Yes, you will have purchased a Fee Simple Stratum Estate in Freehold property.
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.
What is the sound rating between apartments?
All apartments have been designed to meet or exceed the acoustic requirements of the NZ Building codes. All floor slabs are 150mm thick solid concrete. Adjoining apartment walls are either 190mm solid block walls with GIB board lining both sides or double timber stud walls with GIB board and acoustic batts.
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 there broadband, internet and Sky TV connections available?
Yes, the apartments will be wired for high speed broadband, internet and Sky TV. Each resident will contact the relevant service provider to arrange and pay for the desired services.
Are there any special membership opportunities with the new $40million Toia Recreation Centre next door?
Yes, we have negotiated discounted membership options for residents of Mason Square. The Library is free and the pool complex is free for children. Your Salesperson (Bayleys) can provide more details.
What public transport is available?
Frequent buses run past the property and 800m away (a 15 minute stroll) is the new $28million Otahuhu transport hub, offering fast and regular bus and train services. The CBD is just 30 minutes away, Manukau 20 minutes, and Sylvia Park just 10 minutes.
What is included in the purchase price?
Your apartment, balcony/courtyard, carpark (where included),oven , hob, rangehood, dishwasher and wardrobes with top shelf and rail. You will want to add your own curtains/blinds and we have provided space for you to add a standard size fridge/freezer, microwave, washing machine and condensing dryer.
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.