Simplicity expands Queenstown build-to-rent project to 1078 homes

Location of the planned Simplicity housing development in Queenstown. — A render of Simplicity Living’s new Queenstown development. Photo: Supplied / Simplicity Living

Checkpoint — New Queenstown housing development targeted at locals

KiwiSaver provider Simplicity has bought another three hectares of land in Queenstown to significantly expand its build-to-rent project.

It means the project would deliver 1078 homes in a 10ha area near Remarkables Park.

The project has also been referred to the fast-track consenting process, with the company aiming to begin construction in January.

Simplicity Living (part of Simplicity) said it was working with Queenstown Lakes District Council and NZTA on designing and delivering infrastructure.

Simplicity managing director Sam Stubbs said the region needed housing that was not for short-term rentals.

“We have this line, there’ll be no Jafa ski houses - this is built for locals.”

“There is a really large need, which is why we’ve scaled up the size of the project from the initial 600 homes we were envisioning to over 1000.”

Simplicity Living managing director Shane Brealey said the region was “crying out” for homes for locals and tourism workers.

The company said it had recently completed the country’s largest build-to-rent complex in Auckland’s Mt. Wellington and was on track to be fully leased within “weeks”.

“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,” Brealey said.

Queenstown Lakes mayor John Glover said the development could “significantly support the well-being of our resident community”.

“I’m sure the fast track panel will take an objective look at how the proposal sits against our current plan,s and we look forward to seeing the end result,” he said.

Stubbs said the project would show what KiwiSaver funds could achieve.

“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,” he said.

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