PHOTO: Remuera, Auckland. FILE
Construction will soon begin on over 300 new rental homes in Auckland, part of a major build-to-rent (BTR) project by Simplicity Living, the property development arm of KiwiSaver provider Simplicity. With resource consent secured, the Remuera development will start next month on land purchased from Ellerslie Racecourse.
Simplicity Living’s Managing Director Shane Brealey highlighted the project’s prime location, close to schools, supermarkets, and healthcare facilities, with a focus on offering affordable rents. “We aim to provide secure, affordable rental housing by prioritizing efficient design and construction,” Brealey explained, noting that this approach allows them to offer lower rents compared to other BTR operators.
A rendition of Simplicity Living’s Build to Rent project in Remuera. Photo: One to One Hundred Ltd / Supplied by Simplicity Living
Brealey emphasized the high demand for Simplicity Living properties, citing the successful lease-up of a previous 51-home development in Mount Albert, which filled within three weeks. Despite Auckland’s challenging rental market, the company maintains a near-full occupancy rate across its portfolio of completed and in-progress units, which will soon total over 800 homes.
This $280 million Remuera project is expected to employ more than 600 people, with completion slated for February 2027.
SOURCE: RNZ