Founders Group transforms land for development to help boost the number of Auckland homeowners. Ceta Developments aims to change lives by creating and delivering affordable homes. Together, we’re bringing new housing to market at speed – creating a win for home buyers and New Zealand’s largest city.
EdgeWest, a new 2.4ha subdivision 150m from Westgate Shopping Centre and 18km from Auckland’s CBD, in the heart of Westgate, north-west Auckland, shows what is possible when companies collaborate to achieve a common goal. Founders Group purchased the site in August 2020 and within four weeks had agreements with five build partners who would deliver around 200 homes. Each build partner will deliver approx. 40 terrace homes, set around their own small community pocket park.
Ceta Developments is one of the first off the block, delivering 37 terrace houses and a small community park. Homes are priced from $700,000 and include two- and three-bedroom terrace homes sized between 70sqm and 129sqm. Currently processing through resource consent, Ceta expects to see construction underway in August this year, with homes settling around July or August 2022.
Smart land subdivision means cost and scale benefits
At Founders Group, we start with the land, unlocking enough of it to create a supersite that gives developers and builders economies of scale. Securing a large site, rather than small sites scattered across different suburbs, ensures high productivity and greater speed to market – resulting in development savings that can ultimately be passed on to the consumer.
By looking ahead of the market, we identify locations and sites with great potential connected to quality transport hubs and established amenities. It’s a long-term game and we’re good at acquiring and combining land parcels to deliver a better product with wraparound master planning to ensure we build desirable neighbourhoods.
Companies working together to find solutions
With the EdgeWest development, we structured agreements to allow our build partners to have about eight months to design and consent their developments before taking possession of the land, with a further 12-month delayed settlement. This, along with a construction finance offer from Vincent Capital, allowed them to move forward with the acquisition prior to pre-sales and also keep their finance costs to a minimum by deferring the payment for the land.
As a result of this partnership, Ceta has been able to deliver outstanding value for new homeowners. As one new buyer put it, Ceta ‘made it super smooth. The location is perfect, being close to work, our friends, the bus stop and the shopping centre of Westgate. The property fits perfectly with our lifestyle and what we think will be a neat community to be a part of.’
A full service for build-ready sites
Our approach extends beyond finding great locations. We offer builders and developers an end-to-end service that also includes master planning, infrastructure and marketing.
Sites are delivered ‘build ready’, with Founders coordinating with council, utilities and service providers to ensure everything is completed on time for build partners to start work.
Our marketing campaigns paint a picture of what these neighbourhoods will feel like once completed, with lifestyle and community experiences always front and centre. Subdivisions are brought to life with a place brand, and a look and feel to match, inspiring confidence in future homeowners and leaving our build partners to get straight into developing homes.
Partnerships that deliver homes
Ceta Developments’ homes at EdgeWest show what’s possible for Auckland when companies with a shared vision partner to create affordable housing. At Founders, we are committed to helping unlock the potential of land to increase housing supply and lift the level of ownership in Auckland.