PROPERTY R ELEASE www.marsrealty.co.nz www.thepoint.co.nz TeamMattyMa

Boutique Living by Wairua Reserve, DGZ 2~3

2

13 Greenlane East, Remuera www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

May - June 2023

Licensed Real Estate Agent REAA 2008

The MARS Realty Team collectively encompass over half a century of real estate experience. Over that period of time, the time honoured lesson of service has been neatly honed and is indeed a mainstay of what MARS Realty is all about. A salesperson working with MARS will seek to push the envelope with the value of service, providing help and advice well after the transaction has been completed. Service, of course, would only go so far unless accompanied by knowledge of the market and trained salespeople who know what they are doing. With their multi-faceted skill set and global worldview, MARS Realty delivers marketing knowledge in development, section sales, house sales and commercial opportunities. The Team have found that over the years people keep coming back and there is a good reason for this. They value trust, they value knowledge and most of all they want integrity when it comes to transacting what will most likely create a new life for them. This is our secret and we know that it is of the utmost importance to over-deliver on our promises in order to keep our business humming. So that is what we continue to do.

THE RETIREMENT VILLAGE DILEMMA Retirement villages are an interesting concept, it gives you a right to occupy space much like other concepts for different sectors in NZ. It is governed by the Retirement Villages Act 2003. The Retirement Code of Practice 2008(1) dictates the minimum requirements that have to be in place for residents in Retirement villages. Now, typically, you can’t actually buy your way into a village, the villages offer a right to occupy an apartment/villa which is called a ORA (Occupation Right Agreement). This agreement is almost universal in all the retirement villages in NZ and the difference between the fees of the operators are relatively minimal.

The retirees pay a capital fee to enter into this agreement, it could be in the range of $200,000 to $2M; they then pay a weekly ‘maintenance fee’ and when they exit they are refunded their money less a 30% ‘deferred management fee’. Prior to 2006 many of the Village owners were charged a 20% deferred management fee but also charged a hefty refurbishment fee plus administration fee of 2%(2). Now in 2023, the majority of the agreements with the residents is just a straight 30% cut on exit and a weekly maintenance fee.

The complaints in 2023 concern the details of the time delay concerning when the retirement village owners need to pay the resident after the exit date. In addition to this how much interest the retirement villages should pay to the resident after a stand down time of 3 to 6 months if the unit has not re-sold. Four months ago (Nov 2022) approx. 100 residents marched onto Parliament steps to demand an overhaul of the Retirement Act 2003, stating that the old Act is outdated and they wanted change.(3) The main changes they are demanding are: ·They didn’t get any capital gain when their unit was sold (which was odd) ·Deferred management fee is too high ·Weekly payments continue even after the retiree vacated ·The retiree is required to use the Village appointed tradespeople instead of allowing the resident to shop around to get better rates. The Residents Association have also complained that they get charged a large interest rate (up to 7.5% penalty fee) (4) being late in their weekly payments or for repair of something they broke, however when the Village owes the resident money the penalty interest is miniscule, less than 1% above the Official Cash Rate(4) Sort of reminds me of the IRD.

JEFF BRILL - AUTHOR OF "THE SOPHISTICATED PROPERTY INVESTOR"

THE RETIREMENT VILLAGE DILEMMA Licence to Occupy In a democratic country such as ours, we see land as a limited resource and it must be cut up, divided into segments and these segments are either allocated to groups or sold to the highest bidder. If you are not in a purchase to own property then you need to pay for the right to occupy it. We see this in rental properties which is governed by the Residential tenancies Act (RTA) and commercial leases governed by the Property Law Act (PLA). It is a right to exist in that space for a pre-determined period of time and the right to have a ceiling on the fee charged for that period of time. The RTA is heavily weighted towards the tenant (since Labour took office) and the PLA leans more in favour towards the landlord. The law is all about the protection of those that can’t protect themselves and to make sure the have’s do not take advantage of the have-nots. To make sure the rich do not create slaves of the poor and that high ranking individuals do not bully the under privileged. It is assumed that business people are capable enough to negotiate and enter into commercial leases so let’s leave the PLA alone and focus on the difference between the rights of Tenants and the rights of the Retirees. The demanded changes to the Retirement Act by some of the Retirement Association members, as already mentioned, were clauses in the contract that the residents agreed to and signed upon entering the village. Were they bullied, taken advantage of or effectively made slaves to the rich in doing so? Let’s analyse this and keeping the Rule of Law in mind when concerning equal law applied to all, we will see if the law to protect Retirees is the same as it is with residential tenants.(5)

1. In the RTA, the landlord pays for the maintenance of the stove, oven, dishwasher, air con unit and other landlord assets 1(a) In the Occupation Rights Agreement (ORA), the retiree pays for the maintenance of the stove, oven, dishwasher, air con unit and other landlord assets (much like a tenant does in a commercial lease) 2.In the RTA, the landlord cannot charge the tenant a penalty fee if the tenant is late in rent 2(a). In the ORA, the retirees must pay a penalty fee if they are late in their rent (maintenance fee) 3.In the RTA, the bond must be returned to the tenants when they exit within two weeks or make a claim on it. If the tenant or landlord does not respond to a refund notification within that time, the landlord or tenant that lodged the refund will receive the amount they have asked for. The bond is held by a third party. 3(a) In the ORA, the time due to pay out is not mandated by law but only governed by the OCR agreement. The Retirees money is held by the retirement Village owners. 4.In the RTA, the tenant ceases their payments to the landlord when the tenant vacates the property 4(a) In the ORA, the Retiree continues to pay the weekly payments after they vacate and continue until the Retirement Village is able to sell the Unit (Unless the ORA says otherwise).

JEFF BRILL - AUTHOR OF "THE SOPHISTICATED PROPERTY INVESTOR"

THE RETIREMENT VILLAGE DILEMMA I won’t go on, but there are several other differences between the Tenancy Act and the Retirement Act when it comes to protecting the vulnerable, which is what the rule of law is all about. It seems like the Retirement Act is much more akin to the Property Law Act where the focus is on the financial returns of the landlord. The commercial tenant maintains the assets of the landlord and in many cases is expected to pay a substantial capital replacement fee through a bodycorp. This is akin to the deferred managed fee that the Retirees have to pay their landlord to replace the capital costs of their assets. So, why is it you may ask, is the retiree treated similar to the treatment of a commercial tenant than a residential tenant? Could it be that if the government mandated that the retiree should not have to pay a deferred maintenance fee and not have to pay weekly maintenance fees, shareholders in the development of a retirement village would put their money elsewhere? If there is no money in the deal for the shareholders then they wouldn’t invest in retirement villages in the first place and we would then have an issue. God forbid, the government may have to build all the villages with tax payer money.

If investors were not interested in retirement villages then the government would have to offer incentives for the investors, much like they do with child care centres. In the latter, the government pay child care business’s an amount per child which enable the business to pay a higher rent to make it attractive for developers/shareholders to invest. The government, therefore, have a choice. They can change the law to restrict Village operators from charging a high ‘deferred maintenance fee’ on exit and to mandate a lower percentage capital gain (currently the market rate is 30%) to village operators. The after-flow effect of this would be for village operators to charge more on entry to the village, however this is likely to scare people away and instead they will likely purchase a unit in the private market. This will mean low occupancy and village operators will more than likely invest elsewhere and Villages would not be built. A real problem when we have a proportionately high aging population.

JEFF BRILL - AUTHOR OF "THE SOPHISTICATED PROPERTY INVESTOR"

THE RETIREMENT VILLAGE DILEMMA In summary, the government loses if it changes the Retirement Act 2003 for the betterment of the retirees. If you take from the ‘haves’ then there will be a flow-on effect, there always is and it always affects the same people the rule of law is put in place to protect. What it comes down to is that either the retirees pay out or the government do. In this, like so many other instances, the government will find themselves in a conflict of interest situation as they try to pacify the retirees without giving anything away. Some residents are asking for an overhaul of the Retirement Act 2003 and a review of the Act is being considered in 2023 (6). It will be interesting in an election year to see how the labour government will respond. If they don’t help the retirees, the retirees will inform the NZ public and votes for the Labour government will be lost. If the Government mandate positively for the Retirees, the budget will not look pretty and votes will be lost. We are due for a budget announcement in May 2023, we wait with baited breath! References 1. https://retirement.govt.nz/retirement-villages/the-act-regulations-and-codes/code-of-practice/ 2. https://www.stuff.co.nz/business/124611403/86yearold-resident-battles-for-fairer-occupation-agreement-with-us-retirementvillage-owner 3. https://www.rvranz.org.nz/rvranz-special-update-rvranz-at-parliament/ 4. https://www.consumer.org.nz/articles/retirement-villages 5. https://www.justice.govt.nz/about/learn-about-the-justice-system/how-the-justice-system-works/the-basis-for-all-law/ 6. https://www.hud.govt.nz/news/review-of-retirement-villages-act-begins-in-2023/

JEFF BRILL - AUTHOR OF "THE SOPHISTICATED PROPERTY INVESTOR"

Boundary Lines Are Indicative Only

Boundary Lines Are Indicative Only

Commercial Takapuna | 60 Killarney Street Prime Site for Medical Practice or Development

3

1

675m² Land

Readily set up as a women health practice, the premise offers various clinic/consulting rooms, reception area, meeting room, file room, 9 carparks etc. There is land use consent in place for medical practice. The property also shows the opportunity for a prime development project. 675 sqm (approx.) land with good contour in the Terrace Housing and Apartment Building Zone.

Matty Ma 021 287 4278

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Shawn Ma 021 217 8211

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Residential Orewa | 41 Maka Terrace SPLENDID ELEVATED VIEWS

4

3

210m² Floor 520m² Land

This two level, double garage, internal access, security gated home presents a great future home for one lucky home maker. As you come in the front door, you will walk into a formal lounge to entertain your guests. A bathroom and a bedroom on the first level can be used as a guest room or extended family use. The open plan kitchen dining and living provide a useful usage/layout of space.

Greg Antona 021 775 287

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Sammie Chan 021 182 1202

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Boundary Lines Are Indicative Only

Lifestyle Orewa | 51 Kowhai Road Water View, Zoning on the change (Please refer to Council Plan)

3

1

5.5ha Land

Single home zoned in sought-after Wainui area. Easy access to the motorway, new township, new school/ transport, etc and golf course. Ready to be subdivided and develop further. The entire site is located in the Orewa 2 sub-precinct F, there are no physical limitation areas or areas of protected vegetation identified on the site. Nearby developments include but are not limited to Halls Farm Developments by Eden Limited. “Investigation area” from single lot zone. Elevated, views of the park and water/ millwater town centre. Boarder with Foulton Hogan land. And riverside/Main road boundary, long road forntage.

Matty Ma 021 287 4278

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

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Stillwater | 7 Whio Way

Section

0.84ha Land

Prime Lifestyle Section

Looking for the perfect place to build your family's dream home? Look no further than this prime land opportunity! With 8450 sqm of gently contoured land and stunning rural views, you'll love the picturesque setting. This land is located in the highly sought-after development of Whio Way, just off East Coast Road. You'll enjoy easy access to Silverdale Shopping facilities and the upcoming Penlink motorway ramps, projected to be completed in 2026 (as per Waka Kotahi's recent news release).

Matty Ma 021 287 4278

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Shawn Ma 021 217 8211

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Luxury Albany | 54 Kewa Road Pure Class on Kewa

6

3

312m² Floor 1019m² Land

A superb example of luxurious, single level, 6 bedroom living, set on over 1000sqm of land (more or less). Constructed to the highest level of quality, this home screams class, comfort, quality, and sophistication. The fantastic layout, with great separation between two living areas, makes this house perfect for multi generational families, or teenagers. Two bedrooms share their own lounge, giving almost totally independent living.

Eric Rong 021 988 838

Blair Herbert 021 728 301

[email protected]

[email protected]

Anna Liu

Richard Li

09 419 6098 | 022 074 9470 [email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

021482634 [email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

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Lifestyle Dairy Flat | 1215 Dairy Flat Highway A real treat for forward thinkers!

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1

5.19 ha Land

In central Dairy Flat sits 1215 Dairy Flat Highway - an absolutely amazing piece of land to build your dream home. Tightly held in the same family for decades, this property offers the intelligent buyer an amazing opportunity. Consisting of over 5 hectares of (mostly) flat pasture, and over 500 metres of road frontage on both Dairy Flat Highway and Richards Road- the future possibilities are immense!

Matty Ma 021 287 4278

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Blair Herbert 021 728 301

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

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Development Albany West | 83 Glendhu Road

4.0468 hectare

Large Scale Development Site Near to Centre Albany

A large scale 4.0468 (approx) residential development opportunity exists at Bayview Northshore City. The site is elevated and overall has a great outlook. The site is Mixed-Housing Suburban zoning + Large Lot zoning. Currently confirmed 11 blocks subdivision, OR potentially 27 available for Terrace, OR your choice to design your own. Refer to 78 Plan changes. An excellent prospect for Land Bankers and developers.

Matty Ma 021 287 4278

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Kevin Wang 021 116 5666

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Residential Northcross | 9 Jomard Terrace Attention Families!!

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3

611m² Land

Location, Land, and home. This property is substantial in size and design positioned on a rear 611 sqm site away from the road with plenty of off-street parking and fully fenced section which is perfect for the young kids outdoor & parties. From head to toe, this two-story home is modern with spacious living on an easy low maintenance lifestyle. And so close to all Albany/Bays societies.

Judy Cao 027 729 4697

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Residential Helensville | 3 Kanono Way Brand New Home with Mountain Views

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164m² Floor 474m² Land

This single level modern home is tucked away from the crowd with good privacy and is built on the edge of Rautawhiri new development suburb. Recently completed home and positioned on northerly aspect. As you come in the front door, you will find a modern and spacious open plan kitchen, living and dining. Bringing you an immediate sense of space, light and open design.

Greg Antona 021 775 287

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Sammie Chan 021 182 1202

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Development Torbay | Helen Ryburn Place Calling Developers!

17650m² Land

1.7 ha (more or less) freehold section located in Torbay with great sea views is looking for its new owners. Only a few minutes drive to Albany shopping center with a great range of cafes and restaurants. Stunning local beaches such as Waiake Beach and Browns Bay Beach are perfect for family-friendly swimming or stroll along for relaxation after a busy day of work.

Bill Zhou 021 689 876

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Residential Torbay | 103 Carlisle Road Superb Location: Artist`s Cozy Home

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160m² Floor

Positioned in a handy location in a tightly held pocket of Torbay, this traditional Kiwi home has 3 spacious Bedrooms and a bright living room & kitchen in the first floor; One big rumpus on the ground floor with 1 carport and 3 off street car parks. Cross lease, half share of 1012 sqm land (more or less). Zoned for Glamorgan School, Torbay School, Northcross Intermediate School and Long Bay College.

Liz Wu 027 888 2677

Evan Cui 027 971 1968

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Residential

Silverdale | 27 Bankside Road Supreme Mix Of Space and Intelligent Layout

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3

210m² Floor 600m² Land

27 Bankside is perfect for the growing, or multi-generational family. Single level, and brand new, with a separate two bedroom wing providing space for teenagers or grandparents, and an immense living/dining/kitchen area in between. The master suite is incredibly well arranged, with an ensuite with a bath and separate shower, and huge walk in wardrobe.

Eric Rong 021 988 838

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Blair Herbert 021 728 301

[email protected]

Luxury Albany Heights |56 Kewa Road Single Level Luxury

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318m² Floor 1001m² Land

A superb example of luxurious, single level, 6 bedroom living, set on over 1000sqm of land (more or less). Two of the spacious bedrooms have their own ensuites. Constructed to the highest level of quality, this home screams class, comfort, quality, and sophistication. The fantastic layout, with great separation between two living areas, makes this house perfect for multi generational families, or teenagers.

Blair Herbert 021 728 301

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Eric Rong 021 988 838

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Commercial Albany | 8 Oracle Drive Commercial Opportunity, Units Available

2457m² Land

Fantastic opportunity to get in on the ground floor in a brand new stunning split level development situated in the heart of Albany. The development is shouldered by a child care and a yet-to-built consented hotel which will add to the bustling hugely popular area that it already is. Available Units: PU8 131 m2 +20.9m2 EXCLUSIVE OUTDOOR AREA Bill Zhou PU10 118 m2 + 97M2 AU C50 021 689 876 PU12 130 m2 +126.7M2 EXCLUSIVE OUTDOOR AREA

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Development

Albany | 157 Oteha Valley Road

4326m² Land

4326 m2 Prime Development, THAB Zone (PC 78)

Here is the opportunity not to be missed. 4326 m2 prime development land, strategically located off Oteha Valley Rd. It is within walking distance to the local amenities, Park & Ride and so close to the motorway ramps. In the zone of Terrace Housing and Apartment Building (Plan Change 78). A current resource & building consent comprised of 20 terrace houses, each on 3 levels.

Matty Ma 021 287 4278

[email protected]

www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Shawn Ma 021 217 8211

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Boundary Lines Are Indicative Only

Development Albany | 178 Dairy Flat Highway

2033m² Land

Prime location in Albany, Over 2000m2!

Located in the heart of Albany, this freehold developing land with a site size over 2000m2, zoned for Special Purpose - Major Recreation Facility Zone. The land comes with a Council approved resource consent for a two-level building containing retail/office plus a basement and 39 car parks.

Matty Ma 021 287 4278

Evan Cui 027 971 1968

[email protected]

[email protected]

READY TO SEIZE THE MOMENT?

"Be Greedy When Others Are Fearful" -Warren Buffett www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Apartment

Remuera | 13 Greenlane East

2~3

Boutique Living by Wairau Reserve, DGZ

2

Luxury living by nature is hard to beat. In Wairau reserve you will find the handsome, lustrous-plumed Tui with its melodious fullthroated song epitomizes the beauty of New Zealand’s native bush. Yet it is within walking distance to Remuera shops, Remuera Village, Ellerslie driving range and Ascot hospital. Short drive to Ellerslie race course, Cornwall park, Remuera Golf Course, Eastern bays, Top private schools (St Kentigern, Diocesan, Saint Cuthbert's and Kings) and luxury Westfield Newmarket.

Greg Antona 021 775 287

[email protected] www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Eric Rong 021 988 838

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Residential

Wainui | 4 Kotuitui Drive Home For The Executives

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3

358m² Land

This brand new home has the feel of a quality constructed building built for the professionals in mind. As you come in the front door, on your right is a large executive office room or 3rd living area. As you walk further into the home you will find the master bedroom with ensuite as well and further on your will be delighted to view the modern kitchen open plan with spacious dining and second living room.

Kevin Wang 021 116 5666

[email protected] www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Greg Antona 021 775 287

[email protected] Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Luxury

Albany | 120 Kewa Road

6

4.5

New Lifestyle Property with Privacy & Legal Income

3447m² Land 306m² Floor

This brand new Lifestyle property offers a range of impressive features that make it the perfect choice for families or anyone who loves entertaining. The main house boasts 240 sqm of floor area, with 4 bedrooms and 3 bathrooms, including 2 ensuite bedrooms. This provides plenty of room for everyone in your household to have their own space.

Matty Ma 021 287 4278

[email protected] www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Michael Ma 021 686 031 [email protected] Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Residential

Glenfield | 18B Edgeworth Road Double Westlake Stunner

3

1

90m² Floor

Tucked away and private is this single level stunner with two carparks and storage to cater for family with kids, retirees, professionals, first home owners or anyone looking to downsize and upsize. Easy commute to central Wairau Valley and Glenfield.The home has a large deck that flows seamlessly out to the front of the property, just begging for entertainment.

Greg Antona 021 775 287

[email protected] www.marsrealty.co.nz MARS 2023 ALL RIGHTS RESERVED

Sammie Chan 021 182 1202

[email protected]

Marketed by ThePoint Visit www.thepoint.co.nz for Chinese listing information

Lifestyle

Stillwater | 1849 East Coast Road

3.90ha Land

Incredibly Strategic Future Urban Landholding

1849 East Coast Road is slightly over 3.9 hectares (more or less) of elevated land in the sought after Future Urban Zone. Access is via a 16m (approx.) wide driveway. Large flat area originally designated as the build site. Current buildings include a two bedroom