PHOTO: Photo: One to One Hundred Ltd / Supplied by Simplicity Living
Auckland is poised to witness a significant boost in its housing inventory through a build-to-rent initiative in Remuera. Simplicity Living, a subsidiary of KiwiSaver and investment funds managed by Simplicity, has acquired 1.4 hectares of land adjacent to Ellerslie Racecourse, where they plan to erect 330 homes.
Shane Brealey, the Managing Director of Simplicity Living, expressed enthusiasm about the project’s location, describing it as “ideal” due to its proximity to Greenlane’s shops and train station, reachable with just a five-minute walk.
Sam Stubbs, the Managing Director of Simplicity, emphasized that “creating high-quality, long-term rental homes aligns perfectly with KiwiSaver’s mission.” Earlier in the year, the company had announced its ambitious goal of constructing 10,000 such homes across New Zealand.
Simplicity Living has already completed and leased 159 homes in Onehunga and Point England, with 345 more slated for construction by year-end and an additional 800 in various stages of development. Brealey underscored their commitment to addressing New Zealand’s housing crisis by offering quality, long-term rental options to professionals like nurses and teachers, as well as everyday New Zealanders.
Stubbs also highlighted the appeal of this initiative to a wide demographic, including retirees who have sold their homes but seek a permanent residence for their later years. Anticipating robust demand, especially given its proximity to Ascot Hospital, Greenlane train station, and local retail and commercial facilities, the project is scheduled to commence construction in 2024, with an expected completion date in late 2026.