A little bit about Ockham Residential, the developers behind Kōkihi. And some information about the project itself — who is building it, when construction starts, and when it finishes.
Tell me about Ockham
Ockham Residential has become a market leader in Auckland's development community. Since starting out in 2009, we’ve completed nine major residential apartment developments across the city. Developments such as Daisy in Mt Eden, The Isaac in Grey Lynn and Hobsonville’s Bernoulli Gardens have won accolades from critics and buyers alike.
Our vision is a simple one — to build beautiful buildings that people like and want to live in. We call ourselves ‘urban regenerators’ — we want to play our part in making the new Auckland work, without losing the charm of the old. And so we see housing as infrastructure, the building blocks of community. We love Auckland: we believe it is one of the most naturally graceful cities in the world. The challenge is to try to ensure our built city is as stunning as its natural setting.
Who will be building Kōkihi?
Ockham Construction. As part of our commitment to the highest possible standards, Ockham Residential has formed its own construction arm. Ockham Construction has completed major projects including Daisy in Mt Eden, Set in Avondale and Tuatahi in Mt Albert. Drop by our Kōkihi sales suite (1 Soljak Place, Mt Albert) and we'll take you through some finished apartments at Tuatahi. It's always good to see the quality of construction/finish for yourself.
How many KiwiBuild apartments are there in Kōkihi? And how many available to everyone else?
It’s a pretty even split. There are 95 apartments in Kōkihi all up — 47 of these are KiwiBuild, 48 are being sold on the open market.
Does the development depend upon a certain level of pre-sales?
There is a pre-sales condition in our Sale and Purchase Agreement. However, we expect construction to begin in February 2020.
How are you funding the development?
Ockham Residential has the funds to finance the project with additional development funding from a bank. There’ll be no mezzanine finance of third party debt or equity involved.
Let’s face it: the actual building side of things — the diggers, the cranes, the concrete trucks — is quite exciting. But how are the buildings being constructed? And when can I move in!
Ockham’s buildings have a reputation for being solidly built…
They do. And Kōkihi — constructed of reinforced concrete and steel built to the latest engineering and earthquake standards — will be no exception.
And the fit-out?
Our apartments are built to last. Floors are concrete and the inter-tenancy walls (walls between apartments) are designed to provide excellent acoustic privacy. All apartments are double-glazed, have high ceilings and are fitted out to a very high standard. Each comes with an appliance package.
Sounds great! When do you expect Kōkihi to be finished?
Construction is scheduled to begin in February 2020 and will take about 18 months. We’re aiming to finish the building by August 2021.
The Sales Process
One of the advantages of buying an Ockham Residential apartment is that you’re buying directly from us. We have our own specialist sales team who know our developments back to front. They’ll be with you each step of the way.
I’m a first-home buyer and, to be honest, am a bit daunted by the process. Can you help guide me in the right direction?
We hear you — it’s a complicated process with a fair bit of paperwork to get through. We’ve prepared a 10-step guide to the Sales Process which explains the sequence of things. We’d also encourage you to take your time and do your research. Settled, the government’s advisory website, is an excellent source of independent, Plain English info.
Lots to read up on – but I’d also like some specific info on Kōkihi. Can I come see you?
Yes, of course! We have a sales suite at 1 Soljak Place, Mt Albert (on the corner of New North Road and Soljak Place). We have a scale-model of the development, all the plans — along with a number of interactive walk-throughs on a touchscreen TV. We can also take you through a display apartment in our Tuatahi development which will give you a sense of the interior look and feel of the apartments.
I’ve checked Kōkihi out — and like what I see! How do I actually buy an apartment?
To secure an apartment, you need to sign a conditional sale and purchase agreement and pay a deposit of 10%. Our agreement provides a five-working-day ‘due diligence’ period, which gives your lawyer an opportunity to review the agreement and other documentation. It also gives you time to organise pre-approval for your finance and to do any other homework to make an informed decision. Once you’re satisfied with your ‘due diligence’, you’d then instruct your lawyer to make the agreement unconditional.
As with any property purchase, it’s essential potential buyers seek their own legal and financial advice before signing the contract.
I think I might qualify for one of your KiwiBuild apartments. Is there going to be a ballot?
No, there won’t be a ballot — Kōkihi’s 47 KiwiBuild apartments will be sold on a first-come, first-served basis to KiwiBuild-qualified purchasers. To apply for pre-qualification with KiwiBuild, go to www.kiwibuild.govt.nz.
Once you’ve done this, you would then sign a conditional sale and purchase agreement and pay a deposit of 10%. Our agreement provides a five-working-day ‘due diligence’ timeframe — please refer to an earlier question for more information about this. We stress again how important it is that you get legal and financial advice before signing the contract.
Do you offer a ‘due diligence’ timeframe?
Yes, our sale and purchase agreement provides a five-working-day ‘due diligence’ timeframe. During this time your lawyer will review the agreement and related documents and you can get an agreement in principle from your bank if you haven’t already done so.
It is also an opportunity to do any other homework so you’re well-informed and ready to proceed. If you change your mind, you can walk away without penalty (and without having to give a reason).
Is my deposit secure?
Absolutely. All deposits are held in trust by Ockham Residential’s lawyer until settlement (when the building is finished and titles issued). While your deposit is held within the trust account, you will receive any interest. Ockham cannot use the deposit funds to complete the development.
Are the titles freehold?
Yes, the Kōkihi apartments will have a Stratum in Freehold title, sometimes referred to as a unit title.
Do I have to make any progress payments throughout the build?
No, once you’ve paid your 10% deposit, you don’t have to pay the balance until settlement. Settlement takes place once the building is complete and the Titles and Code of Compliance Certificate (CCC) have been issued. At that time our lawyer will provide yours with a 10-working-day settlement notice.
Can the price go up during the build?
No, the price stated in the Sale and Purchase Agreement (when you pay your 10% deposit) is the full price you’ll pay for your apartment.
Car parks. Bike racks. The storage situation. And the pool — let’s find out more about the pool!
Do the apartments come with a car park?
The 48 open-market apartments each come with a car park. KiwiBuild buyers have the option of buying a car park.
Is there a storage area?
All the open-market apartments and a small number of KiwiBuild apartments have a storage area.
Are there bike racks?
Kōkihi is at the intersection of some of Auckland’s finest cycle paths. You’re less than 7km from the CBD — but you can also whizz out west on the famed Northwestern Cycleway. We’re big fans of bikes at Ockham and our buildings always have plenty of bike racks.
What are the main communal amenities?
There is a residents’ lounge which flows out to a garden and outside swimming pool. The residents’ lounge will have a kitchenette and is usually open for residents to use or can be booked out for private functions.
If you haven’t lived in an apartment before, you’ll probably have a few admin questions. Like how does the Body Corporate work, who do I see if I need something fixed, can I have pets…
Firstly, is there a Body Corporate?
Yes, as with all apartment developments, Kōkihi will have a Body Corporate. We’ve worked closely with Crockers to develop a comprehensive Body Corporate budget and Body Corporate rules. Our sales team will take you through this.
Can I become a member of the Body Corporate Committee?
Yes. All Kōkihi apartment owners can run for election to the Body Corporate Committee.
Any additional running costs I need to factor in?
Apartment owners are responsible for the annual Body Corporate levy and Auckland Council rates. Water and power are individually metered so you pay for what you use. Building insurance is included in your body corporate fee, but you’ll need to get your own contents insurance.
What guarantees do you offer? is there a maintenance and defects period?
Ockham Residential’s buildings are constructed from time-proven durable building products and comply with the latest engineering standards. We have a track record of quality developments and maintain a connection to the buildings — and communities — we’ve become a part of.
We operate a 90-day maintenance period from the date of settlement. If there are any issues or problems within this period, let us know and we’ll fix them. There are emergency contacts for any urgent matters. Following the 90-day maintenance period, any further building defects are covered under the Building Act.
The Kōkihi Body Corporate will be the beneficial holder of all guarantees and material warranties.
Will there be a building manager?
Yes, an offsite building manager will be appointed. They’ll handle the day-to-day operations and maintenance required in the development. With all Ockham developments we look to the long-term. Our developments are built with durable — and enduring — materials to keep ongoing maintenance costs as low as possible.
Are you pet-friendly?
Yes, pets are allowed — with the written consent from the Body Corporate. Please check the Body Corporate rules if you plan to have a pet.
What system do you have for rubbish and recycling?
Bins will be provided for rubbish and recycling. These will be emptied by an external contractor under the management of the Body Corporate.
What’s the security like?
Good security is one of the real benefits of apartment living. Your swipe card will give you access to your building. That same card will allow you to move around the building to get to the areas you need (your apartment level, car park and common areas). Normal keys will be provided for apartment entry doors. There’ll be CCTV outside the building and also in the car park areas.