Simplicity's build-to-rent programme hits Auckland's North Shore

Friday, 1 August 2025

An artist's impression of Simplicity's newly announced build-to-rent development in Northcote.

Build-to-rent developer Simplicity Living will have nearly 1000 homes under construction by the end of the year, after its latest project got the green light from Auckland Council.

The company, which is owned by non-profit KiwiSaver provider Simplicity, is on a mission to build 10,000 new and affordable, long-term rental properties over 10 years.

On Friday, it announced it had resource consent for its first development on Auckland’s North Shore, and would be building 93 build-to-rent apartments in Northcote.

The development site was by the suburb’s town centre and Simplicity Living managing director Shane Brealey said it was a great location, being next to a supermarket, shops, public transport, parks and schools.

'Northcote has seen many new homes built recently, and the re-development of the town centre will make it an even more desirable suburb.”

While the $65 million, nine-level development would be near public transport, there would also be extensive car parking, and tenants would have access to a work-from-home office and lounge.

The building would have solar panels, electric car chargers, high thermal, acoustic and firesafe standards, and rainwater harvesting. There would be extensive landscaping, and a native tree would be funded for every apartment rented every week.

Construction was due to start in November, and the build was expected to be completed by the third quarter of 2027.

Brealey said that at its peak the project would employ more than 400 workers, including contractors and suppliers.

The Northcote development would be the company’s seventh, and it currently has several others underway.

A 330 apartment complex currently being built on 1.4 hectares of Ellerslie Racecourse land purchased in 2023 would be the country’s biggest build-to-rent complex when completed.

The company started construction of a 262-home development in Morningside in July, and its 297-home Te Reiputa development in Mount Wellington was due to be completed shortly.

Simplicity Living will have 982 homes under construction by the end of the year, Shane Brealey says.

By the end of the year, it expected to have 982 homes under construction, and directly and indirectly would be employing 2000 employees, contractors and suppliers on and off site.

Simplicity Living was also in negotiations on a number of additional sites for a further 1140 homes, Brealey told The Post earlier this year.

Those sites included a location under option in Queenstown for the company’s first build-to-rent development outside of Auckland.

The company has already completed three developments in Pt England, Onehunga and Mt Albert, with a combined 210 homes fully rented.

Simplicity managing director Sam Stubbs said funding via Simplicity’s KiwiSaver and investment funds helped make the build programme happen.

'This is the sort of thing KiwiSaver should invest in. We think it’s a good long-term investment for our members and helps provide warm, dry homes for Kiwi families.'

Stubbs has previously said that investing in build-to-rent housing was common overseas for pension funds like KiwiSaver.

Build-to-rent developments are large scale, multi-unit residential buildings which offer long-term rental agreements, are professionally managed, and do not offer apartments for sale to individual owners.

The build-to-rent sector was slow to take off in New Zealand, but 1949 units had now been built, and there were 1004 units under construction with 2489 in the pipeline, according to the Property Council.