420 Hagley Avenue Christchurch One Bedroom Apartments with On-Street Carparking

Building the Most Liveable Country 420 HAGLEY AVENUE

Elegant inner-city living With several other similar projects selling down in record timeframes we are excited to be releasing 420 Hagley Avenue.

Contents

Design Page 3

Location Page 4

Floor Plan Page 5

Specifications and Internal Colours Page 6

About Williams Corporation Page 7

Meet the Team Page 8

How we Build Homes Better Pages 9–10

Build Specifications and Chattels List Pages 11–12

Landscape Plan Page 13

Price List Page 14

Survey Plan Page 15

Summaries of a Residents Agreement Page 16 and a Body Corporate

Rent Appraisals Pages 17–18

Why buy in Christchurch? Pages 19–21

Testimonials Page 22

Building the Most Liveable Country

Page 2 420 HAGLEY AVENUE Design 420 Hagley Avenue We are very proud of the design appeal of this development. With the white and black plaster, extensive landscaping with beautiful cherry blossoms and elegant individual planter boxes. This simple but tasteful design is market leading with Apartment construction. Resulting in a highly appealing visual aspect while maintaining extreme functionality and low maintenance.

Page 3 420 HAGLEY AVENUE

Location Located on 420 Hagley Avenue a beautiful The exterior of the building features a site which will encompass two buildings planter box for each Apartment with a predominantly northwest facing variety of low maintenance plants. overlooking Hagley Park. Located behind Also, planter boxes line the walkway to a row of cherry blossoms, Block A is made reflect the Garden City and Hagley Park up of 30 Apartments and Block B with 9. being at your doorstep.

The development has communal seating, ample bike storage, service areas and access onto both Moorhouse and Hagley Avenue.

3 2

420

What’s nearby?

1 The Terrace 1.2km

2 Cashel Mall 1.2km

3 Margaret Mahy Playground 2km

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Floor Plan Floor Each Apartment is generously With practicality in mind there is a proportioned at 60m2 or more. They are storage cupboard and media cabinet all one bedroom with a full size double that all comes together to provide a bedroom with wardrobe, large bathroom, comfortable inner city lifestyle. full size kitchen with dishdraw, open plan living and dining with a balcony that also functions as a conservatory due to the double sliders at each end.

Bedroom Wardrobe Bathroom Kitchen Media Cabinet Balcony/ Conservatory

Entrance Storage Washer/ Living Dryer Combo

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Specifications Quality is paramount in our homes and Finishing with European tiles, washable only the best products are going into paint and upgraded magnesium oxide the construction and fit out of our flooring, giving the first floor that concrete developments. Starting with an engineered feel. All our products are purchased from gravel base and concrete raft foundation, large industry leading companies, to ensure then laminated veneer framing, coupled with reliability and quality. double glazed windows, solid air barriers, compression proof polyester insulation and aerated concrete intertenancy walls.

Images used throughout this Information Pack are indicative only.

Colours Internal All Apartments are painted in beautiful modern tones to create a feeling of warmth and space throughout. The neutral tones allow you to add your own unique touch with furniture, artwork and other accessories.

Tiles Carpet Kitchen Kitchen Splashback Ceiling / Blinds Cabinetry Bench Trim / Doors / Walls

Building the Most Liveable Country

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Corporation About Williams Williams Corporation do property Williams Corporation see both Auckland development and investment in Auckland and Christchurch as world class cities with and Christchurch. Our well-built exceptional value moving forward. We are Townhouses and Apartments are the totally committed to building Auckland future for New Zealand housing and a and Christchurch into the most liveable desirable solution to the housing crisis. cities. Meet our team below and reach out to discuss your next property investment. Team Management Meet the Matthew Blair Horncastle Chappell Managing Director Managing Director Matthew manages, on a daily basis, Blair is responsible for product and land acquisition, development design, contractor procurement, pricing, site resource consents, development sales, management along with building marketing and finance. Matthew is consents. As a qualified business analyst a qualified builder and has been in and having been in the construction the construction industry for over industry for over 7 years, Blair loves 9 years. Matthew is extremely everything about development, including high energy and passionate about watching a development go from an idea Williams Corporation’s purpose to on a set of plans to a finished product, build Auckland and Christchurch complete with home owners and tenants. into the most liveable cities.

Kathryn Scott Hannah Marshall Barclay Turner Managing Director Group Accountant Customer Relations Manager Kathryn has a 32 year career in construction. Kathryn overviews the Scott manages all the finances Hannah is responsible for client company finances and cashflow including creditors, purchase orders, relationships, assisting sales and general position and is responsible for payments, office administration and enquiries. As a recent University company systems, processes, controls IRD compliance. As a qualified graduate with a Bachelor of Arts, Hannah and oversees legal and technical Accountant, Scott has had extensive contributes a high level of literacy and documents. Kathryn has a Bachelor of experience in the construction communication to the team. Hannah is Agricultural Science Degree, including industry, having prior roles with both passionate about helping people gain a business subjects. Kathryn creates the main contractors and suppliers. In firm foothold on the property ladder and vision, along with Matthew and Blair previous lives, Scott worked as a Market ensuring customer satisfaction remains and forms highly skilled teams to Gardener and High School Teacher. a priority and a point of difference for deliver the outcomes ethically. Williams Corporation.

Page 7 420 HAGLEY AVENUE Team Consultants Property Meet the Stephen Matt Pike Withington Property Consultant Property Consultant Stephen has over 15 years experience As a licensed builder, experienced in property sales and has helped over new-home consultant, homeowner

1000 customers either invest or own and property investor, Matt brings a residential real estate. Stephen’s wealth of technical know-how to the professional approach and strong Williams Corporation team. Matt has

knowledge of market opportunities, a trusted reputation, built on positive ensures that his customers get the communication and assists customers best advice and information to with options that will perform best now enable a sound decision is made. and into the future. Matt genuinely loves Achieving financial security for his talking about property and is passionate customers is of utmost importance. about helping people achieve their goals.

Greg Maxine Mitchell Freeman Thomas Podmore Property Consultant Property Consultant Property Consultant Greg has 11 years of relevant experience Maxine has over 10 years experience in Mitchell has been in the sales game for and proven history in directing and property investment, including acting 5 years plus 2 years in construction. selling investment property, helping as a buyer’s agent sourcing suitable As a Property Consultant, Mitchell over 1000 clients from around New property, enabling others to grow their provides a great understanding, by Zealand. Greg loves helping others to wealth. Prior to property, Maxine listening to customers’ needs, then achieve their dreams and believes with travelled the world as a Flight Service putting it all together, to provide having the right advice, plus the correct Manager. Maxine is extremely passionate amazing results. Mitchell is very active, structures implemented, these factors about people and property and gets being a competitive cyclist to all kinds are key to making this happen. immense satisfaction combining the two of other sports, that provide grounding together to achieve exceptional results. and knowledge to work hard and achieve great goals.

Sharaine Dee Scottie Elizabeth Bull Muirson Property Consultant Property Consultant Property Consultant Sharaine has over 10 years experience As a down-to-earth Mum of five Scottie has nearly 10 years experience in in the real estate and sales industry. sports-mad kids, Dee is all about property investment and sales. She is very passionate about property community with a huge heart for Property and finance runs in his blood. and has developed great knowledge and helping people grow their security. With Scottie entered the property industry understanding due to purchasing and a background in design and experience full time after investing in property renovating a number of properties from in the building/joinery industry, Dee is during his successful and adventurous the age of just 19. Sharaine’s consultative passionate about sustainable living and military career in the Air Force. Scottie approach ensures her clients feel all things eco-friendly and energy is driven to help people achieve their life comfortable to make decisions with efficient. Dee’s appreciation for clever goals and to be able to live the life they ease, and is dedicated and committed to and innovative spaces means she dream of. Scottie loves to assist first creating an exceptional experience understands big is not always best, home buyers and investors get into the when it comes to buying property. we just need smarter homes for living best housing possible. and to live smarter.

Ben Cloake Property Consultant Ben has over 15 years experience in the sales industry, with a background in solar, insulation, heating and home efficiency. Ben is very passionate about helping first home buyers and investors get onto the property ladder. Ben’s collaborative approach helps his clients feel informed to make decisions with confidence.

Building the Most Liveable Country

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How we build homes better

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How we build homes better

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Gravel Raft Engineered Slab LVL Frames Soils are stripped down and replaced Constructed on top of the gravel raft an LVL stands for laminated veneer with compacted gravel, the entire engineered slab provides the benefits lumber, LVL timber is dimensionally process is signed off and overseen by an of the concrete foundation sitting on accurate, straighter and meets or engineer. A gravel raft provides a stable the ground instead of in it. Constructed exceeds equivalent stress tests when platform and strengthens the ground with concrete, steel and polystyrene compared to standard SG8 and SG10 under your home. pods, with the process being signed off pine framing. by an engineer.

4 5 6

Hebel PowerFloor Insulation Hebel Intertenancy Wall The strong and solid flooring system With warm dry homes being paramount Hebel Powerpanel XL is made out of consists of 75mm steel-reinforced for our construction methodology, we aerated concrete and provides fantastic AAC panels, installed over steel or use a R3.6 ceiling batt with an R2.2 acoustic and fire resistant properties. timber joists. This floor has superior ceiling blanket on top, providing nearly This ensures the product separating you acoustic performance and thermal double the building code requirements. from your neighbours is of the highest insulation properties. For the external walls, we use a R2.6 quality in the market place. Because the wall batt to achieve 30% over building Hebel sits between the timber framing code requirements. With a 70 year you have full use of the intertenancy product warranty and being owned by wall in your home without comprising CSR Group, we have partnered with your fire and acoustic rating. Bradfold Gold to provide this industry leading insulation solution.

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Solid Air Barrier LVL I-Joists Safe Building Envelope It is no surprise that the building Manufactured from sustainably grown All of our homes have longevity in code requires a solid air barrier in New Zealand Pine, LVL I-joists are half mind, we do not use internal gutters, extra high wind zones, when compared the weight of conventional softwood flat roofs or other high risk design to building paper a solid air barrier joists and are straight, uniform and elements. We use leading products both offers a more robust cavity and extra dimensionally stable. This provides a on the walls and behind them to create structural bracing on the home. lighter, stronger midfloor that has less a low maintenance home that will last chance of long term deflection. the test of time. Building the Most Liveable Country

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Build Specifications Specifications, Colour Schedule and Chattels List

General Specifications Internal Doors Paint finish flush panel MDF doors Gib sliders to robes Entry Door Latitude panel Hardware Miles Nelson S Range Windows Double glazed, powder coated aluminum Electrical LED lighting, sockets, general connections, phone and tv jacks, heated towel rails and bathroom fans. Heating Fujitsu 5kw heat pump Water Heater 180L hot water cylinder Paint Resene Spacecoat Roof .4mm Colour Steel corrugated roofing Fascia Colour Steel Gutter Colour Steel Downpipes Colour Steel Cladding Hebel power panel

Interior Lining Insulation Batts R 2.6 wall batts, R 3.6 ceiling batts Gib Walls and ceilings, standard gib to engineer requirements Gib Stopping Level 4 finish, square stop to ceiling Skirting and Architraves MDF 60mm square finish skirting, 40mm square finish architraves, pine skirting to wet areas

Kitchen Oven Fisher and Paykel 60cm built-in oven Hob Fisher and Paykel 60cm ceramic cook top Dish draw Fisher and Paykel stainless steel dish draw Rangehood Fisher & Paykel built in Power Pack

Washer/Dryer Fisher and Paykel Washer/Dryer (1 bedroom units only)

Laundry Super Tub (2 bedroom units only)

Bathroom Shower Acrylic shower tray, tiled walls Vanity Brighton 900mm wall hung vanity white gloss Heating Chrome heated towel rail Mirror Mirror over vanity Tapware Metro series basin, shower, kitchen mixer Toilet Back to wall soft close with integrated bidet

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Build Specifications Specifications, Colour Schedule and Chattels List

Internal Colours Tiles European off white tile Carpet Virga Cloud Kitchen Cabinetry Bestwood Dusky Elm Kitchen Bench Engineered Marbello Snowdrop Splashback Clear glass Ceiling/Trim/Doors/Walls Resene Half Black White Blinds Black block out blinds

External Exterior Cladding (Hebel) Dulux Lexicon and Ebony (as per elevations) Roof, Fascia, Gutter, Downpipe colour Ebony Soffits Resene Half Black White External Joinery and Front Door Ebony

Chattels List

Letter box Clothes line Garden/bike shed Blinds Cook top Range hood Dish draw Fixed floor coverings Light fittings Heat pump and remote Bathroom heater Towel rail Mirrors above vanity Wardrobe joinery T.V. antenna

Washer dryer combo (1 bedroom units only)

Super Tub (2 bedroom units only) Smoke alarm/s pursuant to Building Code requirements

Building the Most Liveable Country

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Landscape Plan

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Price List

Ground Floor First Floor

Unit Number (Block A) Price Unit Number (Block A) Price Unit 1 $420,000.00 Unit 11 $425,000.00

Unit 2 $420,000.00 Unit 12 $415,000.00

Unit 3 $420,000.00 Unit 13 $415,000.00

Unit 4 $420,000.00 Unit 14 $415,000.00

Unit 5 $420,000.00 Unit 15 $415,000.00

Unit 6 $420,000.00 Unit 16 $415,000.00

Unit 7 $420,000.00 Unit 17 $415,000.00

Unit 8 $420,000.00 Unit 18 $415,000.00

Unit 9 $420,000.00 Unit 19 $415,000.00

Unit 10 $415,000.00 Unit 20 $425,000.00

Unit Number (Block B) Price Unit Number (Block B) Price Unit 31 $375,000.00 Unit 34 $380,000.00

Unit 32 $375,000.00 Unit 35 $375,000.00

Unit 33 $380,000.00 Unit 36 $375,000.00

Second Floor

Unit Number (Block A) Price Unit 21 $430,000.00

Unit 22 $420,000.00

Unit 23 $420,000.00

Unit 24 $420,000.00

Unit 25 $420,000.00

Unit 26 $420,000.00

Unit 27 $420,000.00

Unit 28 $420,000.00

Unit 29 $420,000.00

Unit 30 $430,000.00

Unit Number (Block B) Price Unit 37 $395,000.00

Unit 38 $375,000.00

Unit 39 $375,000.00

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Survey Plan

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A e s

p r u

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FT k

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A M

envivo

PLANNING SURVEYING ENGINEERING R r o F D TO THE CENTRELINE OF WALLS, FLOOR SLABS, AU = ACCESSORY UNIT SURVEY MEASURE. WITH THE PRINCIPAL UNITS. GLAZING LINES OR STRUCTURES INCLUDING ALL CP = COMMON PROPERTY PURPOSES AND ARE SUBJECT TO REVISION UPON BUILDING CONSENT, CONSTRUCTION AND FINAL ROOFLINES, CANOPIES, PARAPETS, PERGOLAS, DECKS, HANDRAILS & DECORATIVE FEATURES ASSOCIATED TOTAL AREA: 1690 m² COMPRISED IN: CB447/241, CB377/253 & CB486/125 envivo limited po box 7588 sydenham christchurch 8240 [p] 03 928 1185 [e] [email protected] [w] ww.envivo.co.nz 2. UNLESS OTHERWISE SHOWN UNIT BOUNDARIES ARE 3. PU = PRINCIPAL UNIT NOTES: 1. THESE PLANS HAVE BEEN PREPARED FOR MARKETING 1

DP 8571 359°49'05" 20.59 359°49'05" MAXIMUM BUILDING EXTENT BUILDING MAXIMUM SHEET 1 OF x

14.32 1 140°38'28" 28.79

DP 8570 14.13 359°49'05"

140°38'28"

24.74 15.49 15.23 2

SURVEYOR: BOYD THOMSON SCALE: 1:250 @ A3 DATE:REF: FEBRUARY 2018 26xxx MAXIMUM BUILDING EXTENT BUILDING MAXIMUM

8.62

DP 7835 LEGAL ROAD

359°49'05"

89°49'05" (62.29) 89°49'05" 15.49 140°38'28" 19.23

MOORHOUSE AVENUE

(40.23)

50°38'28" (59.37) 50°38'28" LEGAL ROAD LEGAL 1

32.48

DP 7835

HAGLEY AVENUE AVENUE HAGLEY (40.23) 28.65

rad 3.05 arc 7.52 OVERVIEW

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Summaries of a Residents Agreement and a Body Corporate

Summary of a Residents Agreement Summary of a Body Corporate Townhouses, on fee simple titles, are Apartments, are titled as unit titles and by a safer and better long term ownership/ law, require a Body Corporate Management investment, when there is a Residents Agreement. Agreement in place. Purposes of a Body Corporate Reasons to have a Residents Agreement Insurance: The Body Corporate is responsible for the insurance of the Insurance: The Residents Agreement building, as well as any common areas. ensures there is an insurance policy in Future Maintenance: The common areas place for each home, each year. There include the maintenance and repair of any can be significant savings by getting the walkways, access areas, fences, gardens, homes insured through the same walls and roof of the building, rubbish Insurance Broker/Company. collection, lighting and retaining walls. Future Maintenance: The Residents Compliance: Compliance is required Agreement’s purpose is also to ensure for the building, such as access and fire any common areas are maintained and compliance requirements. repaired, to protect the value of the homes throughout their life. The common areas include any walkways, access areas, fences, Benefits of a Body Corporate gardens, walls and roof of the buildings, lighting and retaining walls. Does this A structure is set up, in advance, to control section allow for the inclusion of building the management of the insurance and any elements and internal retaining walls-these common areas. Funds are put aside, in are detailed in the table attached to the advance, to pay for these. Encumbrance-just checking. How does a Body Corporate Work Benefits of a Residents Agreement The rules are stated in a Body Corporate A structure is set up, in advance, to control Agreement. the insurance and the future maintenance The Body Corporate annual costs are shown of the common areas. Funds are put aside, in the Body Corporate Agreement. in advance, to pay for these. The Residents generally meet on an annual basis, and can vote and agree to use a How does a Residents different Body Corporate management. Agreement Work Residents can also vote on the matters that affect them. The Residents Agreement states what is to be done. The Residents Agreement requires a common account to hold any funds for future repair of any common areas. The residents vote, using a majority vote, at an annual meeting of the residents.

Building the Most Liveable Country

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Rent Appraisal 1 Bedroom

Rental appraisal

Property address: 420 Hagley Avenue Suburb: Central City Bedrooms in main dwelling: One double Bathrooms: One Carpark: None Main Features: It doesn’t get more central city living than this! Beautifully located directly across the road from Hagley Park and the stunning cherry blossoms, these predominately north west facing apartments are everything you want in inner city living. These 60m2 plus apartments are double glazed and fully insulated with quality materials and fittings. Ample built in storage to ensure your apartment lifestyle is comfortable. Open plan kitchen/dining/living, one generous double bedroom with built in wardrobe, fully appointed, full sized bathroom. Low maintenance, private courtyard/deck (depending on the level) Communal outdoor seating courtyard to get to know your neighbours and heaps of secure bike stands available. Current state of property: Brand new with quality materials and fittings throughout.

Appraised rent range: $370 - $400 per week unfurnished $420 - $450 per week furnished Lisa Taylor [email protected] 0272032421 Property Manager Inspire Property Management Ltd DISCLAIMER -While care has been taken in the preparation of these, this appraisal is an indication of the rental value based on the information received and the judgement of the Property Manager. Neither the company nor the Property Manager accepts any legal liability for same.

Inspire Property Management Limited I P.O. Box 17251 Greenlane - Auckland 1546 Head office – 185D Marua Road, Mt Wellington – Auckland I inspireproperty.co.nz

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Rent Appraisal 1 Bedroom

12 February 2019

Stephen Pike Williams Corporation P O Box 1131 Christchurch

Dear Stephen,

Thank you for allowing me to provide this rental estimate of the property situated at 420 Hagley Ave, Central Christchurch.

After viewing the properties floor plans and speaking to you I note the property consists of:

1 1 1 0 0

At this time in the market, based on comparing current advertised properties, recently let properties and market statistics, I would expect to achieve a rental figure in the range of $420 to $460 per week. We would be more than willing to offer our services to help successfully rent this property to suitable tenants.

Thank you once again for this opportunity and should you have any queries or require further information regarding Harcourts Holmwood Property Management service, please do not hesitate to contact me.

Kind regards,

Heather Andersen Business Development Manager 027 2222 319 Please note: This assessment is valid for 30 days from the date of this assessment.

Building the Most Liveable Country

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Why buy in Christchurch? Thousands of jobs, billions of dollars of growth - the new blueprint to revitalise Christchurch.

Article originally appeared on stuff.co.nz on September 12, 2018

Ambitious new plans for Christchurch that could lead › Encourage pop-up accommodation, retail sites and to 15,000 new jobs and increase economic growth to semi-permanent installations to make the most of $24 billion have been unveiled. vacant central city land

The blueprint outlines proposals for everything from property › More investment in neighbourhood services development to ways to boost housing and bring in major and amenities, with potential amendments events in a bid to drive a fresh wave of regeneration. to school zones

Experts have warned that Christchurch faces a period of In a report to the Crown and the council outlining the economic vulnerability as construction projects begin to problems faced by the city and the potential solutions, tail off following a peak. Regenerate Christchurch admits there is “no silver bullet” in its recommendations. Growth has more than halved over the last four years, from a high of 5.5 per cent in 2014 to two per cent in the “Ultimately it will be a result of the interaction between the year to June, while unemployment is also rising. public sector, private sector, communities and households - all of whom will make decisions, over time, in respect of their The plan, being considered by councillors on Thursday, willingness to contribute to, participate in and benefit from draws on analysis by rebuild planning body Regenerate regeneration.” Christchurch and economic development and promotions organisation ChristchurchNZ. Writing to Regeneration Minister Megan Woods and Christchurch Mayor Lianne Dalziel, Regenerate Christchurch Built on five key pillars, it aims to deliver major facilities and chairwoman Sue Sheldon said the advice was a “’call to action’ venues quickly, stimulate investment and unlock sites for which challenges the status quo”. development, redefine leadership roles among city authorities and “relentlessly pursue residents andvisitors”, marketing “There is a necessary and legitimate case for a sharper Christchurch both nationally and internationally. focus on the central city to ensure we maximise the opportunities created by this progress,” she said. How these goals are achieved is still being hammered out, but advice from Regenerate Christchurch and “The opportunity presented by the investment in the ChristchurchNZ that the plan leans on outlines key city is yet to be fully realised and a new point of vulnerability ambitions: is emerging.”

› Bringing 6,000 new residents to the central city A final version of the strategy will be presented to within the next five years to support a self-sustaining council in November. economy - previously outlined in the council’s Project 8011 Dalziel said the plan was about “creating a reason plan - with a longer-term goal of 24,000 more people to come to town and spend time there”. › Increasing the Canterbury population by “We all know that the key to a thriving central city is 16 per cent to 707,000 over the next decade people. We need people living, working, visiting and › Grow Christchurch’s gross domestic product doing business in the central city.” by 24 per cent to $24 billion Despite the decline in economic growth and slight rise › Create 15,000 new jobs within the central city in unemployment which has seen Christchurch above in the next five years the national average for the first time in six years, ChristchurchNZ believes the “economic fundamentals › Support 500 businesses and 200 entrepreneurs of the city and regional economies remain strong”. for each of the next three years Its quarterly economic report argues that “while the › Set up a major events strategy and bring global central city has some short-term challenges, its rapid business events to the city redevelopment over the past year significantly enhances › Establish a fast-track residential consenting process, with Christchurch’s offering as a city open for business and people”. lower costs to reflect the priority of inner-city development ChristchurchNZ senior economist Dr Peter Fieger said: “Christchurch clearly has the capacity and platform for growth. Acting on this is the key to the city’s future success.”

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Why buy in Christchurch? Here’s how New Zealanders get rich.

Article originally appeared on stuff.co.nz on February 26, 2019

Property investment is probably the closest anyone can get to He said many people felt there was more domestic control a legitimate “get rich quick” scheme. over housing than other forms of investment, such as buying It’s generally not all that quick to begin with, but once the shares. returns start rolling, investors increase their net worth at “Housing is driven by local construction, bank lending and speed. the like, whereas stock markets can shift based on sentiment Success often goes something like this: You save a deposit to and a critical news story.” buy an investment property (or use the equity in your own Olsen said the stock market crash of 1987 had influenced a home). You ride the wave as property values rise and give you generation of New Zealanders away from shares. more equity, or you renovate and add value to the place “They were uninformed about shares then and made bad yourself. investment decisions, are still uninformed about shares, but You then use the equity in that property to buy another, then feel that they understand property much better, or at least feel possibly another. they have better information or control over their There are risks, of course. The market could tank and you investment.” could be left holding houses that are worth less than the But investor Graeme Fowler, author of 20 Rental Properties in mortgages you owe against them. You might have dodgy One Year, cautioned there was a lot to learn about investing. tenants trash the place. “There are a lot of potential things that can go wrong. If you But it’s the main way that most New Zealanders get from look at any product, service, industry, there are people that “average” to “pretty well-off, thanks for asking”. become multimillionaires through it and also those that don’t do well or even lose everything.” Of the top 20 people on New Zealand’s rich list, almost half built their wealth through property investment. WEALTH CREATION Among them is Sir Michael Friedlander, worth $1.85 billion Mortgage adviser Glen McLeod, of Edge Mortgages, said there with an “empire of office buildings, retail strips and industrial was a “direct corrWelation” between property investment and properties,” according to the Rich List. wealth creation. Even Rod Duke, who is better known for his investment in “The wise investor tends to know when to purchase and retail business Briscoe Group, owns $50 million of residential collect property. They also know when to develop and sell to and commercial property. continue to be able to grow the portfolio. Not every investor understands what is required to build wealth. WHY? “I believe that property has been for a long time the best way Property is such an effective route to wealth because to build wealth. When the market has dips and recedes, the you don’t always have to have a lot of money to start off with. investor can ride it out with time and continue to grow the Unlike shares, which you generally buy outright, asset value.” you can borrow a significant amount against a property. He said the most important thing was to reduce debt and have That leverage brings risk - if you had a 10 per cent deposit strong cash flow to enable the portfolio to continue to grow. and prices fell 10 per cent, your money would be wiped out.

But it also amplifies gains. If you had bought a median-priced WOULD A CGT CHANGE ANYTHING? Auckland house in 2012 with a 10 per cent deposit, you’d have McLeod said he was unconvinced that a capital gains tax, as turned that $55,000 deposit into $300,000-odd of equity. recommended by the Tax Working Group, would mean any Economist Brad Olsen, of Infometrics, said people who hit fundamental change. major financial success usually did so via property or a “It may just be a mindset change, and realising that paying successful business. But starting a business is less accessible tax on profit would now be part of the state rug. If losses are to most. ring-fenced to the company that may yet offset any tax “A small business is also a lot more intensive in terms of liability faced. I’m personally not a fan of CGT. I feel that if a workload - you have to continue to innovate, otherwise New Zealander works hard to get ahead and builds wealth by you’ll be left behind or a competitor will muscle you out, working hard and taking a risk to invest in property and uses and to be fair you also need a dose of luck with business their income to reduce debt and see their capital value grow generally. Whereas with housing you can simply just sit then those are the perks of working hard.” there and watch it increase in value - in a growth market - Olsen said it should not be assumed a lack of capital gains tax after you’ve invested. was what had fuelled investment in property. “The effort to reward ratio is a lot lower for housing, “Investing in property in New Zealand is often seen as a final so it’s simpler to invest and make good returns for nest egg people can invest in. It’s viewed as more secure.” limited effort compared to small business.”

Building the Most Liveable Country

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Why buy in Christchurch? Housing shortage predicted for city.

Article originally appeared in The Press on November 24, 2018

Commuter towns will have to take their share of new It says that while there has been a big uptake of land in residents as greater Christchurch’s population balloons by new subdivisions since the earth- quakes, it is not known up to 50 per cent in the next 30 years, a report says. whether such patterns will continue or revert to pre-quake trends. While there is plenty of land available in The draft report says a combination of population growth Christchurch for infill and new subdivision housing and and social change means up to 86,000 new homes, more building in those places will be market-driven, inner-city than previously thought, will be needed by 2048. However, housing needs to be a focus, the report says. it warns the growth in satellite towns will lead to increased traffic congestion without better public transport. Of the commuter towns, it says Rolleston, Rangiora and Kaiapoi should be prioritised for housing growth. The document has been released for public consultation until November 30 by the Greater Christchurch Partnership Rolleston Residents Association chairwoman Leonie – a group made up mainly of local councils, Environment MacLachlan said the town was a ‘‘fantastic place to live’’ Canterbury and Ngai Tahu. and had room for plenty more residents.

It looks at how expected settlement patterns will shape ‘‘There is so much new housing and a lot of people here the region and what land and infrastructure will be want to keep the growth going,’’ she said. ‘‘It’s definitely a needed for the extra residents and businesses by 2048. satellite town, but now with the motorway extending it’s going to bring Christchurch virtually to our doorstep.’’ Estimates have put greater Christchurch’s population in 30 years at between 618,000 and 742,000, up from 428,000 The report says that by 2048 the region is expected to have now. The Our Space report says that while there will be 71,000 more jobs, 88 per cent of them in Christchurch city. plenty of land for new homes in the next decade, capacity Health, education, retail, and other services for could run short by 12,750 homes within 30 years if more residents would be the main sectors of new employment, land is not freed up. The report suggests that 65 per cent of with catering for tourist growth another contributor. the housing growth should be in Christchurch city, 20 per About 40,000 of the new jobs were expected to be in cent in Selwyn and 15 per cent in Waimakariri. cental Christchurch, bringing the total of central city The report is already attracting feedback. Blogger and workers to 75,000. North Canterbury resident Brendon Harre, who comments Christchurch, Selwyn and Waimakariri all have sufficient on land-use issues, described the shape of metropolitan industrial land for longterm business growth, but might Christchurch turning from a compact apple into a fat have insufficient commercial land, the report says. It also banana, with the population swinging north up to says transport routes within the city and leading out to the Waimakariri towns and south-west out to Rolleston while north and south will become more congested without new having to avoid aquifer recharge areas. He noted that where public transport strategies such as rapid transit. These and how Christchurch grows will affect more people in could include automated trackless trains, light rail, and New Zealand than any other urban area outside of rapid bus ways. Auckland, with economic, financial, safety, health, environmental and social implications. The report’s authors also expected cycling to increase because of new cycleways and the rising popularity of The report forecasts that an ageing population and more electric bikes. people living alone means single- person homes will be needed. Multi-unit dwellings and rental homes will also be Fewer than half of the current residents in districts more in demand, and locating homes near health services surrounding Christchurch work locally, meaning more and other amenities will reduce travel costs. than 100,000 vehicles a day already travel between outer districts and the city, the report says.

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Testimonials

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