INDEPENDENT NEWS

Simplicity Living Buys Ellerslie Racecourse Land For 330 ‘Build To Rent’ Homes

Published: Wed 30 Aug 2023 05:52 AM
Simplicity Living announced today its purchase of 1.4 hectares of land in Remuera for a planned 330 Build to Rent homes.
The site, adjacent to Ellerslie Racecourse, is a five-minute walk to Greenlane’s train station and retail shops.
“The location is impeccable for quality, long-term rental homes,” said Shane Brealey, Managing Director of Simplicity Living.
“And here is a chance for ordinary New Zealanders to rent quality homes for the long term, nestled in a beautiful, green environment.”
The land was sold by Auckland Thoroughbred Racing Inc (ATR), who owns Ellerslie Racecourse.
ATR Executive Development Manager, Don Greenaway, says this sale was a significant milestone in unlocking the club’s surplus landholdings.
“Auckland Thoroughbred Racing takes a strategic approach when deciding how best to utilise the land assets available to us,” he said. “We look to maximise the benefits to stakeholders and visitors in the immediate term as well as consider how it will benefit ATR in the future.”
ATR Chief Executive Officer, Paul Wilcox, comments that this sale is a result of the Club’s commitment to future proofing the sport of thoroughbred racing in not only Auckland, but for the wider industry.
“We have a responsibility to the New Zealand racing industry to create a sustainable future for racing in Auckland and beyond and the realising of surplus assets is key to the execution of our strategic vision.”
Earlier this year Simplicity Living announced its intention to build 10,000 quality homes for rent across New Zealand.
It has already completed and rented 159 homes in Onehunga and Point England, with 345 to be under construction by the end of this year, and another 800 in development.
“We’re on a mission to provide thousands of Kiwis what’s already common overseas - quality, long-term homes for rent,” said Mr Brealey.
“We want nurses, teachers and ordinary New Zealanders to have the option of renting for the long term. So we’re going hard at it, because only an increase in the supply of homes will help fix our housing crisis,” said Mr Brealey.
Simplicity Living is owned by KiwiSaver and investment funds managed by default KiwiSaver provider Simplicity NZ Limited (Simplicity).
“Quality homes for long term rent is exactly what KiwiSaver should be helping build,” said Sam Stubbs, Managing Director of Simplicity.
Demand is expected to be strong given the proximity to Ascot Hospital, Greenlane train station, and local retail, office and commercial facilities.
Construction is expected to start in 2024, with completion by late 2026.

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