FAQs

ARE THE PROPERTIES FREEHOLD TITLE?

Yes, you are purchasing a freehold unit title from the plans.

HOW MANY UNITS ARE THERE IN THE DEVELOPMENT?

There are a total of 152 Units: 85 Serviced Investment Units and 67 Residential Units.

WHAT DEPOSIT IS REQUIRED AND WHERE DOES THE DEPOSIT GO?

A 10% deposit for local (residents) purchases and 20% deposit for offshore (non-residents).

DO I PAY GST ON THE PURCHASE PRICE?

The price is inclusive of GST (if any).

CAN I LIVE IN THE RESIDENTIAL APARTMENTS?

Yes.

WHEN DOES CONSTRUCTION BEGIN?

Construction is due to begin in November 2017.

SUNSET CLAUSE?

There is allowance in the sales and purchase agreement for reasonable construction and development delays.

WHAT ARE THE OUTGOING COSTS?

(A) Body Corporate Fees
(B) Auckland Council Rates

IS THERE A MAINTENANCE PERIOD?

Yes there is a 90 day maintenance period from the settlement date for purchasers in regards to any building defects in the unit.

WHO LOOKS AFTER THE MAINTENANCE?

Day to day maintenance is looked after by the tenant. Please refer to the lease and Body Corporate budget for full details.

WHAT ARE THE CONSTRUCTION SPECIFICATIONS?

The Facades are being developed and will consist of precast concrete and metal sheeting elements. See specifications page.

ARE THERE ANY VENDOR PRE-SALE CONDITIONS?

No. The development is not conditional on the vendor achieving a set number of pre sales.

WHO IS THE DEVELOPER AND BUILDER?

Safari Group is the builder/developer whose background includes some of New Zealand’s prized construction and development projects. The Safari Group boosts extensive experience of all aspects of construction and development from both Residential and Industrial, through to combined Office and Commercial. www.safarigroup.co.nz

WHO ARE THE DESIGNERS?

STUDIO 37. The building has been specifically designed to fit into this location and incorporate all requirements of Wyndham Hotel Group to run a successful business.

HOW ARE THE CARPARKS ALLOCATED?

See pricing schedule for car park allocation.

ARE THE SERVICED APARTMENTS FURNISHED?

A full FFE and appliances package is available for purchase separately.

WHO SETS THE VALUES?

Independent valuers have set the values of all investment packages based on the rental income and market returns. The value of the unit will increase over time as with any other property investment.

CAN I BORROW FUNDS?

Yes, this is a standard commercial product which funding institutions will lend on.