$500m development to bring 600 rental homes for Queenstown

Thursday, 14 August 2025

Simplicity Living will be building a 600 home build-to-rent apartment complex in Ladies Mile in Queenstown.

Queenstown is set to become home to New Zealand’s biggest build-to-rent development yet, and it is just what the housing-strapped area needs, the developers say.

Simplicity Living announced on Thursday that it had purchased a 6.1 hectare site on Ladies Mile in Queenstown, and that it planned to build a 600-apartment complex of rental homes on it.

The development would be its largest build to date, dwarfing the 330-home development it was currently building on Ellerslie Racecourse land in Auckland, and had an estimated end value of up to $500 million.

It would also be the first foray out of Auckland for the home building company, which is owned by non-profit KiwiSaver provider Simplicity.

Managing director Sam Stubbs said there was a critical shortage of affordable homes in Queenstown, and it meant the area was ripe for the type of homes the company built.

Infrastructure planning for the development site is ongoing, but Simplicity’s Sam Stubbs is optimistic about progress.

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.

Queenstown had just one large completed build-to-rent development, New Ground Capital’s 78 unit Toru Apartments, and there was high demand for high quality but affordable rental housing, he said.

“We’ve been looking for a location in Queenstown for two years, but it was hard to get the economic feasibility to stack up. Now, we’ve found the right site, and we’re rearing to go.”

They were negotiatingwith the council about the provision of infrastructure necessary to start building on the land, but the council was happy to help, he said.

“When the build kicks off depends on how the infrastructure planning with council, NZTA, and other land owners in the area goes. But when it gets to the point where we can push go we can move quickly.

“Core Simplicity staff will go down to work on it, but we also have well established contacts in the area, and will be employing lots of locals on the build.”

The development would be made up of three-storey, walk up blocks primarily built from concrete, brick, and Central Otago schist, and would have an expected lifespan of more than 150 years.

The Queenstown development will be modelled on completed Simplicity Living builds in Auckland’s Mt Wellington and Point England.

It was based on the model used for other Simplicity builds, which allowed the company to build easily and with significant economies of scale, he said.

The homes would have high thermal and acoustic ratings, solar panels, rainwater harvesting and common use facilities including work-from-home spaces, residents’ lounges and outdoor equipment storage.

Extensive landscaping was planned to give the property a residential park atmosphere, and it would include a small retail strip to ensure residents could easily walk to the shops.

Located near Remarkables Park, the site was close to planned schools, shops, and transport links, but the complex would have extensive car and bike parking, and direct access to bike trails and the planned gondola development.

The Shotover Bridge was a 10-minute walk away, while Queenstown International Airport was a five-minute drive away.

Stubbs said in a first for Simplicity Living they might consider looking at potential ownership options for some of the homes further down the track.

An artist’s impression of what Simplicity Living’s new Northcote development on Auckland’s North Shore will look like.

But, first and foremost, it was a development for local renters who had to commute from out of the town because they could not afford to rent in it, he said. “It will not be ski-homes for Aucklanders.”

Queenstown mayor Glyn Lewers welcomed the project saying it was much-needed in the Whakatipu housing market.

“The addition of up to 600 new build-to-rent homes will be a game changer for our community, offering secure long-term rentals.”

The announcement capped off a big month for Simplicity Living, as it followed the company’s recent confirmation that its first build on Auckland’s North Shore would be underway by later this year.

Back in 2022, it embarked on a mission to build 10,000 new and affordable, long-term rental properties over 10 years.

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

And construction is underway on 889 homes in developments in Remuera, Mt Wellington and Morningside in Auckland.

Once the North Shore build started it would have nearly 1000 homes in the works, and was in negotiation over additional sites.

Stubbs said that by the end of the year Simplicity would have 2000 people employed, and would be building about 1.6 homes a day.

The aim was to get to three homes a day, which was about a 1000 a year, and twice what they were doing now, he said.

“The 10,000 homes is an aspirational goal, but we will get there - it is a question of when, not if.”

KiwiSaver was the driver and the glue for what Simplicity Living did, he added.

“Our Queenstown development is just another example of the sort of thing our KiwiSaver scheme can help make possible.

“We think it’s a good long-term investment for our members and helps provide warm, dry homes for Kiwi families, in a region that urgently needs them.”