In December 2015, Ngāi Tahu Property teamed up with the NZ Super Fund and New Ground Capital to invest in a development at Hobsonville Point in Auckland.
The project, known as Kerepeti, is currently being built across two super lots, with the first homes becoming available in June 2018.
Kerepeti will deliver 208 homes of various size and style to the market, of which 47 homes will be made available for long term rental through New Ground Living.
The two super lots, known as Uku and Kerewhenua, are named after the clay upon which the homes are being built.
The New Zealand Superannuation Fund is a Government savings vehicle established to partly pre-fund the cost of superannuation, thereby reducing the burden of the cost of superannuation on future generations of New Zealanders. The Fund, created in 2001, is now one of the largest institutional investors in New Zealand.
Its New Zealand Investment Portfolio includes more than $1 billion in the local share market, along with large direct investments in Kaingaroa Timberlands, Kiwibank, Datacom and rural farmland.
The Fund is also invested, through external investment managers, in small, privately-owned companies, property developments and social infrastructure.
New Ground Capital’s mission is to identify areas of untapped capital demand and investment appetite, and develop new solutions that fulfil those opportunities. They create smart opportunities to generate effective returns while genuinely making a difference in New Zealand.
One of these opportunities is the Kerepeti development, which was initiated by New Ground Capital and in which they are a member of the investment consortium. New Ground will also be the ongoing manager of the rental portfolio through New Ground Living.
Context Architects is a multi-disciplinary practice operating nationally from Auckland and Christchurch. They have created the masterplan for Uku and Kerewhenua. Their award winning team is passionate about designing places that people love. Architects, urban designers, master planners, residential and commercial specialists, heritage and sustainability experts: They all work together to create great buildings.
Classic Builders are the builder partner for the terraced and walk ups at Kerewhenua and are one of New Zealand’s largest residential builders - completing some 700 homes a year. With a great experience in large scale projects, Classic Builders have earned an unrivaled reputation for retirement homes, gated communities and social housing - bringing style, scale and uncompromising quality to their work.
Jalcon are the builder partner for terraced houses and walk ups at Uku and are also Auckland’s most awarded building company and pride themselves on bringing their own family values of integrity and honesty to every project. With eight family members working for the company, Jalcon believe in the human touch and putting their names to every home.
Haydn & Rollett are the builder partner for the apartments at Uku as well as being one of Auckland’s oldest building companies. With 70 years’ experience, they have been behind some iconic Auckland landmarks - including Leo O’Malley’s Menswear shop on Karangahape Road, the Sheraton Hotel and more recently the Kauri Cliffs Golf resort in KeriKeri. Their developments are known for innovative thinking, inspired design with exceptional construction and finishing.
With over 100 years in construction in New Zealand, Naylor Love Construction are the builder partner for apartments in Kerewhenua. They’re a top-performing construction management company, providing construction services to a wide range of market sectors in New Zealand. They constantly benchmark their performance against both New Zealand and international industry standards, setting ambitious targets and using the lessons learned to drive continuous improvement.