Ashburton Guardian | Guardian Property | October 4, 2019

Property

October 4, 2019

& LIFESTYLE

Sunny SANCTUARY

Proudly marketed by First National

5 WAS $9

CUBIC

METRE

8 NLY $7 O W O N

AND LANDSCAPE SUPPLIES

08 WAS $1

CUBIC

0 NLY $9 O W O N

METRE

5 WAS $5

CUBIC

5 NLY $4 O W O N

METRE

FURTHER DETAILS

.50 WAS $8

P10

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PER BA

.50 NLY $6 O W O N

10

Sunny Sanctuary 16 Kelburn Place Stylish, contemporary living in this executive style four-bedroom property.

Sunlight floods the open plan living, dining and separate lounge from morning to afternoon. The spacious, modern kitchen is the hub of the home, with a beautiful Corian benchtop and generous walkin pantry, the extra-large 900mm oven with induction cooktop is sure to impress the chef in the house while beautiful European blond oak flooring adds a touch of elegance.

Accentuated by free-flowing integration between light-filled lounging areas and multiple access points to sun-struck decking areas.

The heating is a Ducted Mitsubishi Heat Pump system with controlled

ducts throughout allowing year-round comfort.

The sunny master bedroom boasts a lovely ensuite with quality fixtures and fittings a generous sized tiled shower and a well-thought-out walkin robe while the remaining bedrooms have large double wardrobes and are serviced by a family bathroom with tiled shower and separate guest toilet.

Both bathrooms have under-tile heating. Storage is well catered for with two large linen cupboards in the hallway.

The outdoors has been well thought out from the two Kwila decks one of which is covered, they cater for all weather conditions, and the bonus of a gated area for the pets and children that can be easily seen from indoors.

4

2

2

OPEN HOME

Saturday, October 5 12noon - 12.30pm

$679,000

Debbie Boon

Phone 027 448 4006 firstnational.co.nz/ 16026104068 SBW DEVELOPMENTS LTD LICENSED UNDER THE REAA 2008

WE APPRECIATE YOUR FEEDBACK

ADVERTISING Sonia Gill | sonia.g@theguardian.co.nz | 03 307 7976

SPRING SALE 20 - 50 % OFF Lopez Chaise Suite NOW $3,399 WAS $6,799

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Burnett Street, Ashburton Phone (03) 308 5269 | www.redmonds.co.nz

No crackdown

11

on property managers... yet

By Anne Gibson nzme

A Government minister has rejected taking any immediate action on property manager regulation, saying more work needs to be done on the issue and spelling out how the Government has better things to do.

Kris Faafoi, Associate Housing Minister, rebuffed a call from 41 real estate entities and businesses to overhaul the rogue property management sector, saying there were important things to do.

“In this term, the Government considers other priorities in the area of housing policy require more immediate attention,” he said in response to the rally led by the Real Estate Institute and its chief executive Bindi Norwell.

While he welcomed REINZ’s push, he indicated that was flawed because not enough work had been done on what form regulation would take.

“More detailed investigation around regulation of the property management sector could be useful, but it would not be feasible to try to advance proposed legislation before next year’s election that could be properly thought through and adequately consulted on.

“This is not a simple issue and there

Today’s construction is tomorrow’s legacy If a home of excellent design and exceptional quality of workmanship is important to you, then look no further than Des Millar Construction. The quality home builders.

are differences of opinion on who should be covered under regulation.

“It’s important that, if changes were to be made, that they are worked through carefully and with consultation,” he said.

While he welcomed REINZ’s push, he indicated that was flawed because not enough work had been done on what form regulation would take.

“More detailed investigation around regulation of the property management sector could be useful, but it would not be feasible to try to advance proposed legislation before next year’s election that could be properly thought through and adequately consulted on.

“This is not a simple issue and there are differences of opinion on who should be covered under regulation.

“It’s important that, if changes were to be made, that they are worked through carefully and with consultation,” he said.

Recently, 40 organisations–including Barfoot & Thompson, Consumer, Harcourts and the Salvation Army–joined REINZ to lean on the Government.

Norwell also released the names of businesses and organisations backing regulation and said the time was right for change.

“As planning is under way for the 2020 election, REINZ is today calling on the Government to formally review the need to regulate the property management industry, including public consultation, and to announce its recommendations for reform before the 2020 election,” her statement said.

The sector has been dogged by issues lately, including major loss of funds from Harcourts after trouble with its youngest franchisee, Gurpreet Grewal whose operations included property management.

His Preet & Co Real Estate had an estimated a $5.2m shortfall, including bank debt of more than $1m and $1.7m owed to Harcourts Group.

Accounts for property manager Preet & Co Rentals estimated a $1.6m shortfall partly from $1.2m owed in bank debt and more than $150,000 owed to Harcourts Group.

And last year, creditors were claiming $733,000 from a West Auckland property management business that previously traded under the Ray White banner.

David Sharma’s Property Management Out West of Henderson has no assets yet unsecured creditors want $733,247, a liquidator reported then.

YOUR DIY REPAIRS YOUR WAY

Specialists in:

If you need to do any repairs around your home, just hire tools from us!

For housing, Commercial, farm buildings and renovations, contact Des anytime for a free no obligation quote on 03 308 9936 or 027 432 3258

Ready to build your dream

• Air Conditioning/Heat Pumps • Dairy Farm Refrigeration • Refrigeration • Ventilation

 Housing  Commercial  Farm  Renovations

With more than 30 years of building quality homes for the Mid Canterbury community, Des has a strong reputation for “old school” workmanship, backed by results.

Housing Minister Megan Woods referred REINZ call to Faafoi.

Despite Faafoi’s brush–off, Norwell expressed satisfaction with Faafoi’s response and played down his lack of enthusiasm for action before next year’s election.

“We are not calling on advancing proposed legislation before next year’s election. We are calling on the Government to conduct a review with formal public consultation and ideally have a recommendation on what the Government proposes before the next election,” she said.

She backs his call for more work to be done on the issue and provided new information on why the reform is needed.

“We agree that it needs thorough consultation and consideration to determine the best approach for different segment, for example, property manager, landlords,” Norwell said.

Green Party co-leader Marama Davidson, Renters United and Tenants Protection Association backed REINZ. David Pearse, Property Managers Institute president, said REINZ was acting in self-interest because many property managers were attached to licensed real estate divisions. People in those businesses were in REINZ, he said.

• Electrical & Appliances

• Registered James Hardie installer • Residential, commercial or farm buildings • Quality workmanship

Come and see us today.

588 East Street, Ashburton Phone 03 308 8061 info@ashburtonuhire.co.nz www.ashburtonuhire.co.nz

OPEN 7 DAYS

RTO Construction Ltd Phone 308 7182 On-call 021 597 517 211/D Alford Forest Rd, Ashburton

www.stewartandholland.co.nz

Rodney Grant 027 634 1631 rtoconstruction@yahoo.co.nz facebook.com/rtoconstruction

Allenton 21 Churchill Avenue

Ashburton 30A Wills Street

All class here

4

This home is located in a top Allenton location.

Situated on a very private 1,146sqm back section.

The home has four bedrooms plus a huge conservatory built for all day sun. There is also an office or formal dining room.

Asking Price $625,000 View by appointment Mick Hydes 027 437 9696 mick.hydes@bayleys.co.nz

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WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED REAA 2008

bayleys.co.nz/558307

Something special - a must view

3

Stylish 214sqm contemporary townhouse featuring attractive workable kitchen opens to awesome living space, three double bedrooms, master has ensuite plus office. Easy-care structured garden.

Asking Price $515,000 View Sat 10.30-11am or by appointment Jenny Gray 027 452 2888 jenny.gray@bayleys.co.nz

bayleys.co.nz/5510964

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WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED REAA 2008

MOTIVATED VENDOR

Ashburton 271 Cameron Street

Netherby 64 Bridge Street

Sunny aspect

3

Attractive brick home on a sunny corner section close in on the East side of Ashburton town. Sunny living areas. Easy care 533sqm section with new landscaping. Detached single car garaging. Ideal for a first home buyer, a retirement home or investment.

Asking Price $289,500 View Sat 10.30-11am or by appointment Ray Knight 027 434 0139 ray.knight@bayleys.co.nz

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1

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WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED REAA 2008

Much loved, time to go

3

Open plan kitchen and dining area, a large separate living room which can open up to create one large living space. Heated by log burner and heat pump.

Bedrooms all with built in wardrobes. Single garage with workshop.

For Sale $350,000 View Sat 11.30am-12pm or by appointment Mick Hydes 027 437 9696 Sarah Everist 021 0828 5816

bayleys.co.nz/5510747

bayleys.co.nz/5510314

Elgin Geoff Geering Drive

Mayfield Murdoch Place

Eco friendly sub-division

2

1

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WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED REAA 2008

Opportunity and options

Geoff Geering Drive - stage two. Sections ranging from 536sqm to 859sqm available. Prices are from $136,500 - $143,850. Ashburton District Council have developed this affordable but eco friendly subdivision.

For Sale $136,500 View by appointment Mick Hydes 027 437 9696 mick.hydes@bayleys.co.nz WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED REAA 2008

bayleys.co.nz/559591

• Vibrant community of Mayfield, options below; • Number 4 - Lot 6 - 862sqm (more or less) $50,000 • Number 3 - Lot 7 - 902sqm (more or less) $45,000

Price by Negotiation View by appointment Sarah Everist 021 0828 5816 Eliza Waszczak 021 039 1770 WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED REAA 2008

bayleys.co.nz/552299

ALTOGETHER BETTER We’re extremely proud of our talented Mid Canterbury Team.

The highly skilled salespeople that we have across all areas of property means we are confident in promising the best service and skills to all clients in the area.

Whatever your property needs, contact our team today.

Pete Whalan 021 723 005

Jenny Gray 027 452 2888

Ray Knight 027 434 0139

Eliza Waszczak 021 039 1770

Sarah Everist 021 082 85816

Mick Hydes 027 437 9696

Fee Ensor 021 705 014

George Morris 027 212 8668

Nick Young 027 437 7820

Mike Preston 027 430 7041

Jon McAuliffe 027 432 7769

Simon Sharpin 027 631 8087

Bayleys Ashburton | 03 307 7377 |

John Lamb 022 171 8321

ashburton@bayleys.co.nz

WHALAN & PARTNERS LTD, BAYLEYS, LICENSED UNDER THE REA ACT 2008

A LT O G E T H E R B E T T E R

bayleys.co.nz

Re s i d e n t i a l / Co m m e rc i a l / R u ra l / L i fe st y l e

Netherby 69 Albert Street 4

2

2

2

Price by Negotiation View by appointment Mike Preston 027 430 7041 mike.preston@bayleys.co.nz Austen Russell 027 441 7055 austen.russell@bayleys.co.nz WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED UNDER THE REA ACT 2008

Excellent prospect for future development Adjoining Ashburton's most recent North East, residential subdivision this larger 8.0 hectare subdividable lifestyle property presents an excellent prospect for future development close to town and on quality soils plus an irrigation consent.

Located in a superb garden setting at the end of a long driveway and featuring a range of trees and shrubs as the back-ground to more formal flower gardens and amenity planting, the two level, four bedroom, family home provides a comfortable living environment with garden views from most rooms and ease of transition to the adjoining out-door living areas.

bayleys.co.nz/559251

NEW LISTING

Tinwald 67 Hinds Highway Asking Price $450,000 + GST (if any) View by appointment Jon McAuliffe 027 432 7769 jon.mcauliffe@bayleys.co.nz WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED UNDER THE REA ACT 2008

Bareland opportunity Bareland 8.0937ha (more or less) property with cattle yards and excellent building sites. This property has it's own well developed for domestic, stock and irrigation water. Irrigation consent to take 3.3 litres per second which equates to 130.96m3 per day.

Handy to Tinwald, Ashburton and the modern facilities and infrastructure which are on offer. Close to the combined recreational and residential developments of Lake Hood.

Call Jon today for a viewing.

bayleys.co.nz/5510980

Rolleston 48 Link Drive Price by Negotiation Nick O'Styke 027 696 9801 nick.ostyke@bayleys.co.nz Harry Peeters 027 374 1194 harry.peeters@bayleys.co.nz WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED UNDER THE REA ACT 2008

Design and build for your business Situated at the entrance to Izone - New Zealand's largest industrial Park, 48 Link Drive is ready to be developed to suit your requirements. The site allows for a building footprint from 1,000 to 3,000sqm Key details - High Profile Street - Reputable developers - New Zealand's largest industrial park - Site size 4,821sqm Call the agents for more information today

bayleys.co.nz/5510826

Rolleston 14 John Morten Place Asking Price $145,000 + GST (if any) View by appointment Nick O'Styke 027 696 9801 nick.ostyke@bayleys.co.nz Harry Peeters 027 374 1194 harry.peeters@bayleys.co.nz WHALAN AND PARTNERS LTD, BAYLEYS, LICENSED UNDER THE REA ACT 2008

Brand spanking industrial premises Asking price $145,000pa plus GST and Outgoings New high quality industrial premise available for lease in Izone. This immaculate north facing property is comprised of 950sqm high stud warehouse, 150sqm modern office and caters for 20 staff car parks.

Get your hands on this brand new facility and cement your place in Christchurch's newest industrial park.

Contact the Sole agents for more information.

bayleys.co.nz/559940

bayleys.co.nz

14

South Island property fund

Mortgage rates

3.99

%

P.A.

2 years

3.99

%

P.A.

2 years

4.35

%

P.A.

2 years

4.79

% P.A.

2 years

By Anne Gibson nzme

A new $170 million South Island industrial property fund has been launched, opening an offer to professional investors in June and closing the first round of that yesterday.

FortHill Property takes its name from a landmark near Milton, about 40 minutes south of Dunedin and the company owns a collection of 11 industrial buildings in Christchurch and Dunedin.

It is forecasting 6.5 per cent to 7 per cent annual returns, almost double trading bank term deposits, which its chiefs say is one of the reasons it was formed.

The high returns are also an indicator of higher risk and one professional investor said he had examined the offer and had some issues.

“The underlying assets are okay but it’s Christchurch property heavy. So there’s plenty of potential for new supply to compete with it.

“The fees are full. The return assumes relatively high levels of gearing versus the listed property securities. The Stewart family are in control, so investors need to be comfortable with that.”

Nick Maier, the fund’s general manager, said the company would make further offers as it bought more properties.

The first offer closed September 30, he said, but further offers were planned.

Shares in the initial offer would be issued to investors around October 31, he said.

FortHill Property, in the meantime, is wholly owned by solicitor Cameron Murphy of Invercargill, the Companies Office shows. Maier said that would change once the shares were issued.

Wealthy South Island individuals were buying shares, he said, rather than Auckland-headquartered institutional investors and FortHill is not a syndicator but a company.

All the properties in the fund were developed by Milton-headquartered builder and developer Calder Stewart Group. Its owners, the Stewart family, own 30 per of FortHill Property, Maier said. That is not the Stewart family of Christchurch who were involved in the plastics industry.

Annual FortHill returns are forecast to be 6.5 per cent to 7 per cent, with dividends paid quarterly, he said. The weighted average lease term of the

11 buildings is 12.6 years. Often lease terms on investment offerings are nearer eight to 10 years.

Chairman Karl Smith said the properties were rented to national or international tenants including Waste Management, Fletcher, Penske, AB Equipment, and Komatsu.

FortHill plans to buy more properties in the next year.

“We are pleased to have established FortHill Property with the first acquisitions from Calder Stewart and strong investor support. Our acquisition pipeline is looking excellent for 2020 and we expect to add new properties to the portfolio in the new year,” Smith said.

Maier is the son of Sherry and Auckland businessman Sandy Maier, former chairman of South Canterbury Finance and appointed by the Government to try to save it.

Nick Maier said he had left Auckland and moved to Christchurch to work for Calder Stewart and there was “quite some Mainland pride” in the new business.

Smith said: “With bank rates at all-time lows, we particularly noticed investor appetite for strong returns and long–lease terms and expect further

4.09

% P.A.

2 years

*At the time of printing

interest from long–term investors.”

Mainstream trading bank term deposit rates are mostly below 3 per cent.

The professional investor said the full schedule of fees being charged by the manager were at the upper end, compared to what investors would pay in some other wholesale unlisted funds and listed real estate funds, “but probably below what people would have to pay if they tried to do this themselves”.

Maier said professional advice was supplied by Chapman Tripp and PwC and the business was “middle of the road on management fees and structures”.

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Phone Phoneor Phone (03) 303 9830 or(03) 303 9830 or 0800 500 564 0800 500 Phone 564 0800 (03) 500 564303 9830 or Phone Phone 0800 500 564 E:(03) josephbuilders@xtra.co.nz 303 9830 or Email: josephbuilders@xtra.co.nz Email: 9830 josephbuilders@xtra.co.nz (03) 303 303 9830or or W: (03) www.josephbuilders.co.nz 0800 500 564 Email: josephbuilders@xtra.co.nz 0800 0800500 500564 564

Email: josephbuilders@xtra.co.nz

Fully qualified & registered Pest Control Technician

Call AJ 308 8147 or 0274 325 447

Ashburton 64 Wills Street

$549,000

4 Whiteoak Grove

OPEN HOME SATURDAY, OCTOBER 5: 10-10.45AM

Privacy and location • 171sqm home on a 430sqm section • 3 Bedrooms, Master has an ensuite and plenty of storage space • Open plan Kitchen, Dining and living area all with plenty of room to move around

12 Kelvin Crescent

OPEN HOME SATURDAY, OCTOBER 5: 12-12.30PM

• Brand new • Four bedrooms • Master with spacious WIR and light and bright ensuite

Offers $365,000

5a Allison Street

$589,000

11c Wills Street

Neg over $395,000

• Bigger than normal garage with plenty of room for cars, work bench and golf clubs

2 Magnolia Drive

• • • •

Immaculate presentation 4 bedroom Master with ensuite and WIR Large stylish kitchen

Offers over $535,000

• • • •

Spacious living flowing to the outdoors Loads of storage Fantastic tiled patio’s Manicured gardens

Offers over $615,000

When it comes to location this home will be hard to beat your living in the country but your in town.

Walk-in wardrobe and en-suite off main bedroom, separate bathroom with shower, bath and vanity open plan kitchen, dining and living separate good sized lounge, Double garage internal access, walkin pantry Lawns, paths, patios and fencing will be completed.

29 Havelock Street

Offers over $395,000 OPEN HOME SATURDAY, OCTOBER 5: 11.15-11.45AM

This well-maintained, single level townhouse will hold appeal for those wanting to be central to all Ashburton amenities, affording you the benefits of this easy location with all the privacy you could wish for.

The large living area welcomes the all-day sun and opens out to the private backyard which is well established. Heated via a heat pump, it also has an HRV system for year-round comfort.

7 Thomas Street

OPEN HOME SATURDAY, OCTOBER 5: 11-11.30AM

• 144sqm townhouse, land area 408sqm • Two good sized bedrooms, one up one down • Good sized open plan kitchen/dining/living area

Two heatpumps for year round comfort Beautiful spacious kitchen with butler’s pantry Storage galore Double internal access garaging

OPEN HOME SATURDAY, OCTOBER 5: 11.45-12.15PM

OPEN HOME SATURDAY, OCTOBER 5: 11.15-11.45AM

Every detail has been thoroughly thought of in this immaculately presented 4 bedroom property. From the higher stud through to the bigger sized double garage.

The main living has been built for the all-day sun and flows seamlessly through to the second living area, both of which flow to the manicured backyard.

• • • •

5 Cawton Grove

OPEN HOME SATURDAY, OCTOBER 5: 10.30-11AM

Generous living area which flows through to the dining/kitchen area and opens to the patio area which captures most of the days sun making it bright and welcoming.

The bathroom consists of a separate shower room but could easily be modernised. The original kitchen flows into the sunny dining area creating a magic space for the morning cuppa.

New Market Price $579,000

Neg at $372,000 OPEN HOME SATURDAY, OCTOBER 5: 12.30-1PM

Spacious with 4 Bedrooms • 4 Double Bedrooms • Eco friendly log burner, heatpump and nightstore

43 Braebrook Drive

• • • •

• • • •

Moisture master transfer system Good sized dining & living areas Main bathroom has shower, bath and vanity Separate laundry

Neg over $555,000

A large open plan kitchen, living and dining area with a great paved area for outdoor entertaining Fantastic storage in this functional, modern kitchen with a walk-in pantry Four bedrooms,master bedroom has ensuite and walk-in wardrobe 2 heatpumps to keep you warm in winter and cool in the summer

SBW DEVELOPMENTS LTD LICENSED UNDER THE REAA 2008

MARK WILLIAMS Sales Consultant PHONE 027 442 2281

HELENA RATTEN Sales Consultant PHONE 027 457 7998

DEBBIE BOON Sales Consultant PHONE 027 448 4006

THERESA HISLOP Sales Consultant PHONE 027 514 1330

326 EAST STREET, SHERYL BOTHA TEAM ADMINISTRATOR ASHBURTON 03 307 4222 PHONE 03 307 4222

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Property

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GUARDIAN

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Ashburton

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Tinwald

03 308 5325

0274 367 986

J

SHOW HOME

www.g-drussellbuilders.co.nz

Licensed Builder • Registered Master Builder

G. & D. Russell Builders Ltd

• New housing • Additions and renovations • All types of maintenance • Commercial and farm buildings Our experienced team can meet your needs. Call us today!

Build with confidence.

Build with us.

12noon–3pm . . . . . . . . . . . . . . . . . 8 Whiteoak Grove

SATURDAY BY APPOINTMENT ONLY SUNDAY

TINWALD 8am–5pm . . . . . . . . . . . . . . . . . . 8 Whiteoak Grove

MONDAY - FRIDAY

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TINWALD 11.45-12.15pm .......................................5 Cawton Grove 12-12.30pm ...................................... 4 Whiteoak Grove 12-12.30pm ........................................ 16 Kelburn Place

g-drussellbuilders@xtra.co.nz

TINWALD 10.30- 11.00am ................................... 21 Wilkins Street

ASHBURTON 10-10.45am .......................................... 64 Wills Street 10.30-11am ...................................... 12 Kelvin Crescent 11-11.30am ........................................... 11c Wills Street 11.15-11.45am...................................... 5a Allison Street 11.15-11.45am................................... 29 Havelock Street 12.30-1pm ........................................... 7 Thomas Street

ASHBURTON 10.30- 11.00am ....................................30A Wills Street 10.30- 11.00am ............................... 271 Cameron Street 11.30-12noon .......................................64 Bridge Street

Ashburton

SATURDAY

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Open Homes SATURDAY

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