Taranaki Masonic Trust engages Bayleys Real Estate

Tuesday, 19 May 2015, 9:27 am
Press Release: Bayleys Realty Group

Taranaki Masonic Trust engages Bayleys Real Estate to sell its retirement village villas to residents

Taranaki Masonic Trust has engaged real estate agency Bayleys for the marketing of the villas in its new 37 villa retirement complex in Manadon Street, New Plymouth.

Stage one of the $13 million Manadon Village is nearing completion, this stage consists of 6 duplexes consisting of 12 villas. Stage two and three of the development will commence in September.

Villas within Manadon Village are aimed at retirees seeking to live independently, but with easy access to communal social and recreational facilities. Access to individual amenities such as district nurse visits or meals on wheels deliveries are also available through local providers if the resident qualifies.

Villas are purchased on a ‘license to occupy’ basis, with residents paying a per-villa weekly service fee of $101.00 which covers retirement village costs including: insurance, rates, ground maintenance, repairs, property maintenance, and administration. The weekly service fee is reviewed annually each June.

Seven of the villas within Manadon Village have a three bedroom configuration, while the remaining 30 are two-bedroom designs. All of the brick and cedar units have one bathroom, two toilets, double-glazed windows, heat pump, dishwashers, automatic garage door opener and fibre optic telecommunications cabling.
Prices range from $300,000 - $325,000 for a two bedroom villa and $375,000 - $400,000 for three-bedroom villas. An additional $8,000 is also paid for the one-off site contribution fee.

The remaining 31 villas are being marketed for sale through Bayleys Taranaki. Salesperson Graham Cochrane said the villas were well proportioned and offered comfortable modern living. All villas have their own internal-access garage.
Taranaki Masonic Trust is a not-for-profit charitable trust which looks after the interests of its residents. The trust was established 53 years ago and has established retirement villages throughout Taranaki, in New Plymouth, Waitara, Eltham and Hawera.
Mr Cochrane said the long-term business model for Manadon Village mirrored the sister properties operated by the Taranaki Masonic Trust. At the conclusion of a resident’s right to occupy, the villa is on-sold by the Trust.

The development is situated on a flat subdivision in New Plymouth’s Spotswood suburb – a short walk to the new Spotswood Countdown Supermarket and New Plymouth’s Back Beach via the Herekawe Walkway.

The development includes a village ‘clubhouse’ – designed to provide a communal facility for hosting social events and gatherings for residents. This ‘clubhouse’ like stage one villas is rapidly nearing completion.
Taranaki Masonic Charitable Trust was established in 1961 to render assistance in the community and part of that aid and assistance ethos embraced buying land and establishing retirement villages.

ENDS

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