FAQs

You are purchasing a Stratum in Freehold Unit Title (Warehouse Unit) in Earthmover Trade unit development. For more information on what this means, please refer to the Pre-Contract Disclosure Statement which will accompany the Sale and Purchase Agreement.

There are 23 units in the complex.

Construction of the units is now complete - titles are expected in April 2023.

The proposed development is a permitted activity under the Hamilton City Council (HCC) zoning provisions and therefore HCC have advised that resource consent was not required. Building consent has been obtained.

Your new purchase requires a 10% deposit, being payable upon the agreement becoming unconditional from the purchaser’s end.

Design has focused on delivering long term, low maintenance units. Built to last, primarily consisting of pre-cast concrete panel inter tenancy walls, with exterior being either concrete or long-run Coloursteel cladding. Roofing will comprise long-run Coloursteel. Joinery comprises powder-coated aluminium with steel doors. The roller door is commercial grade powder coated steel. The buildings have also been designed to incorporate external guttering with minimal roof penetrations for low on-going maintenance requirements and weather tightness.

The vendor has obtained satisfactory finance and pre-sales.

Earthmover Limited Partnership is the development entity who have engaged Veros Property (“Veros”) as development managers. (https://www.veros.co.nz).
Collectively the development team are respected locally based industry participants with a reputation for quality and delivering on time and on budget.

The same team have recently completed Portside Industrial in Mt Maunganui. Veros have also recently delivered a 14 industrial unit development on Matakokiri Drive, Tauriko, Tauranga

iLine Construction are delivering the project. Together with their sub-contractors, iLine has the experience and ability to deliver this project to a high standard.

Each unit will be allocated car parks that will be for their exclusive use, being registered as an Ancillary Unit on the Freehold Unit Register (title).

The building has been specifically designed with fire protection as a prime consideration. Each unit will be fire rated in accordance with the NZ Building Code and include an alarm. Design allows for no height restrictions to the storage of non-hazardous goods.

We would anticipate that the likely mix of owners would predominantly be owner occupiers due to the nature of the market. All owners and occupiers will need to comply with the Body Corporate Rules (these will be included in the Agreement for Sale and Purchase).

Any purchasers will be able to market their unit for lease at any time however tenants for units of this nature will not typically agree to a lease until the development is nearing completion. Inspections can be arranged if agreed by the main contractor.

The property is in Te Rapa North, the largest industrial precinct in the Waikato, and is therefore a great location for a long term investment. Hamilton has experienced strong growth in recent years, which is expected to continue. With a rich history in production, manufacturing, distribution and innovation, these units are underpinned by strong market fundamentals.

Yes, from the date of completion of the building work you will have a 12 month defects and maintenance period within which the builder is required to remedy any defects or faults in materials or workmanship in the items supplied or undertaken by the vendor excepting those arising as a result of wear and tear. In addition to this you will be covered by the builder’s normal warranty and the workmanship and material warranties held by the Body Corporate.

The developer is required by the funding institution (bank) to ensure that the agreement provides for the ability to change materials or specifications if they were (a) unavailable or (b) not practical or functional. In practice changing materials that support the look and function of the building and your unit wouldn’t normally occur as we will be going through a rigorous design process. In the event that we have to exchange materials or finishes then we will do so for something that is equivalent or better in value and performance.

A bi-monthly newsletter (email format) will keep you informed of progress and other matters of interest on the project and on the surrounding area.

The Body Corporate controls the administration and general running of Earthmover Units including “common areas” owned by the Body Corporate members. The Body Corporate is responsible for all general maintenance and upkeep of all facilities. This includes administering health and safety compliance, obtaining a building warrant of fitness and insurance for the overall building (you will need to take out your own insurance in respect of contents). Unit owners are able to attend Body Corporate meetings and vote on various matters at its Annual General Meeting. There will be a committee made up of elected owners responsible for running the Body Corporate. The Body Corporate is tasked with ensuring that all costs are reasonably and properly incurred. The Body Corporate works with and alongside the appointed building manager.

No, the price is the price unless both the vendor and purchaser negotiate a variation to such price. The vendor does not have the ability to change the price without agreement in writing by the purchaser.

No. GST is excluded in the prices for all commercial units. We suggest purchasers talk to a tax specialist (such as an accountant) should they have any doubt in this regard.

Each unit will have the ability to have fibre installed into the unit on completion. The purchaser’s will need to arrange for fibre boxes to be installed by their provider. We recommend making contact with Chorus or Ultra Fast Fibre prior to completion as there can be a waiting time to get a contractor onsite.