Simplicity Living Begins Third Build To Rent Residence In Auckland

Eighteen months after launching a major Build to Rent (BTR) programme, Simplicity Living has begun construction of its third residence, in Owairaka/Mount Albert.

The 51 apartments will be available for long-term renting and follow our 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 over 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,” said Shane Brealey, Managing Director of Simplicity Living.

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, we have completed 69 homes, 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,” said Mr Brealey.

“And Build to Rent homes can provide very reliable returns over the long term,” said Mr Brealey. “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 3,000 native plants throughout the landscaping. In addition, we are funding the planting of a native tree for every apartment, every week,” he said.

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