Ockham Residential Launch new Avondale Development

Ockham Residential Launch new Avondale Development

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13 June 2016 – Ockham Residential, launches its latest development, the Set buildings in the heart of Avondale, a project that continues the company’s commitment to lead Auckland’s urban regeneration.

Mark Todd, co-founder Ockham Residential has earned an industry-leading reputation for urban regeneration with its city fringe character flats and apartments. Todd is delighted to be bringing the Ockham Residential philosophy and development approach to Avondale’s Racecourse Parade.

“Set will be right in the heart of what is a cosmopolitan and multi-cultural community. Such a lot is happening in Avondale as part of the Town Centre’s 10-year master plan and we are excited to be the first significant development in the new town centre.”

The 72 apartments are located in three buildings known as Subset A, B and C. Subset A and B will contain three levels of walk-up apartments with Subset C being a five-storey building with 30 apartments.

“We refer to apartments in Subset A and B as being like the character flats that are sought after in older parts of the city. With only three levels they don’t feel like traditional apartment living,” says Todd.

The Set buildings will come with a great deal of amenity, including a communal lounge, play area, a vegetable garden and shared green space at its heart. Configurations available will include one and two bedrooms or one bedroom with study options.

“Mostly with new homes you’re simply buying the home, and relying upon public amenity. With a Set apartment, you’re buying significant on-site amenity as well.”

Ockham Residential works hard to provide a supply of new homes at below the Auckland median.

“We are determined to show that the private sector can provide homes that are relevant to the economic and social needs of Aucklanders. The traditional approach of building four-bedroom plus homes is increasingly out of touch with Aucklanders’ needs, and the delivered cost of building this way was continuing to raise house prices, exacerbating affordability issues rather than mitigating them.”

The Set buildings are priced from $430,000 to $820,000 and Todd is quick to point out that offering affordability does not mean a reduction in quality.

“We have been able to keep the price point affordable by providing only one and two bedrooms, or one bedroom with a study. By having car parking next to the building rather than underground has also reduced cost. The apartments will be sustainable, constructed from durable, low-maintenance materials including solid concrete with timber and brick in the facades, which echoes the character of the nearby horse stables. Subset A and B will also feature striking pitched roofs, inspired by one of Avondale’s oldest buildings, St Ninian’s Church which opened in 1860.”

Ockham Residential’s education based charity The Ockham Foundation has introduced the ’Ockham Foundation First Home Solution.’

Todd is proud that the company through the Ockham Foundation is able to provide an affordable financing alternative for first homebuyers.

“Owner-occupiers of a select number of the Set apartments can receive an interest-free,
10-year loan equal to 15 percent of the property’s purchase price. In effect it’s allowing the purchaser to defer payment of 15 percent of the total purchase price for up to 10 years. So if you have 20 percent deposit, you will only need to borrow 65 percent of the purchase price from the bank, not 80 percent.”

The Set apartments are now available for sale off the plan with construction of the development expected to start in August 2016 and completion estimated in July 2017.

For more information go to http://www.ockham.co.nz/set/ or http://www.theset.nz

ENDS

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