MEDIA RELEASE

Simplicity Living has bought a further 3ha of land in Queenstown, expanding its development project to more than 1000 quality long-term rental homes to help tackle the region’s desperate need for affordable accommodation for locals.

The now-10ha development near Remarkables Park has this week been referred by Infrastructure Minister Chris Bishop into the Fast-track process for consenting, and Simplicity Living Managing Director Shane Brealey is hopeful construction will begin in January.

When completed, the ambitious development will be 100,000m2 of floor area - more than twice the size of Auckland’s St Lukes Shopping Centre. The 1078 apartments will be built using brick and local schist and will feature numerous residents’ lounges, pavilions and work from home spaces. Landscaping, including the planting of 75,000 native and exotic trees and shrubs will see landscaping ratios far exceeding council requirements.

Simplicity Living is working with the Queenstown Lakes District Council and NZTA on efficiently designing and delivering roading, water and wastewater infrastructure for the development, reducing pressure on residents and ratepayers.

“This is a region crying out for beautifully built homes for locals and tourism workers alike,” says Brealey, whose team recently completed the country’s largest build to rent complex in Auckland’s Mt Wellington, on-time and on-budget.  Just weeks after completion, it is on track to be fully leased within weeks while Simplicity Living’s three other Auckland properties have 100% occupancy and waiting lists. 

“We have extremely high levels of occupancy in our developments because of their quality and 10 year rental options, and this delivers strong business performance for our investor while providing much-needed housing for Kiwis,” says Brealey.

Queenstown Lakes District Council Mayor John Glover welcomes the project. 

“The development of a large-scale, high quality build to rent offering is something that could significantly support the wellbeing of our resident community and it’s great to see this proposal,” he says. “I’m sure the fast track panel will take an objective look at how the proposal sits against our current plans and we look forward to seeing the end result.”

Simplicity Managing Director Sam Stubbs says the Queenstown project is critical for the region’s - and New Zealand’s - tourism growth, providing housing security and affordability for those who service Queenstown’s high number of visitors. 

“What this project will show is what the country’s KiwiSaver funds can achieve when we focus on building our members’ wealth and building a better New Zealand,” Stubbs says. 

“In a four to five year construction period, the project will deliver, on average, one new quality home for long term rent every working day, using a combination of local builders and Simplicity Living’s existing teams. “While still a relatively new concept here, superannuation funds around the world choose to invest in long-term rental housing for the stable, long-term returns they can deliver as a small part of a diversified investment portfolio.”

Queenstown Lakes Community Housing Trust Chief Executive, Julie Scott, also welcomes the Simplicity Living project. 

“We’re really encouraged to see a development of this scale and quality progressing in our district,” she
says. “Increasing the supply of well-designed, long-term rental housing is critical for our local economy. 

“With rents so high that many households have been paying around 55% of their income just on rent, it’s blatantly clear that more affordable rental homes are needed. Projects like this can make a real difference - not just for renters in general, but also in helping ease pressure for families on the QLCHT waiting list.” 

Simplicity Living is 100% owned by funds in the Simplicity KiwiSaver and Investment Fund Schemes.