Living Sector

A trusted team on complex projects

Clients are increasingly seeking law firms who understand the specific nuances of the Living sector, not just in terms of today’s legal issues, but also to support future opportunities for innovation and development. We have one of the most experienced and well-resourced teams operating in this space, working for major property institutions and developers, large corporate property owners/occupiers, public sector organisations and new entrants to the sector.

Our understanding of all aspects of the living sector means we are adept at dealing with tight timescales, multiple stakeholders, increased market capacity pressure and multiple high-volume transactions.

The Russell McVeagh real estate and construction team is trusted by clients across New Zealand to handle their most important and complex projects and transactions. We build strong relationships at all levels within client organisations and offer the depth and breadth to be true business partners.

The team are the full package: from drafting for the most complex transactions, to listening, engaging and negotiating the best outcome from difficult situations. The team is the best in the business.
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Specialist expertise

As the go-to team for high value and complex living sector projects in New Zealand, our market-leading team is proud to provide advice to New Zealand’s most sophisticated property investors and developers, including leading domestic and overseas funds and property institutions and corporate property owners/occupiers.

Key to our offering is our 'one stop shop' span of legal services, advising on legal structures, acquisition, construction and delivery, leasing, operational and management arrangements, which clients can utilise in its entirety or to supplement their own in-house resources. As a result, we have been privileged to work on many of the market’s most impactful living sector investment and development projects, some of which are detailed below.

Residential

Advising residential property developer, Winton Land, in relation to:
- its formation of a joint venture limited partnership with MaxCap to acquire, fund, develop and on-sell residential developments; and
- its acquisition and proposed development of Pier 21 and its residential developments in Cromwell, Wanaka, Matarangi, Hobsonville Point and Wynyard Quarter.
Advising residential and mixed-use property developer, Templeton Group, on its acquisition and financing of residential-led schemes at Long Bay, Pegasus and Stonefields and the property aspects of upwards of $200m of restructurings and refinancings.
Advising a rōpū group in relation to a large-scale housing development at Carrington.
Advising the New Zealand Housing Foundation on its Puhinui Park and Waimahia Inlet residential developments incorporating shared ownership models.
Advising Urban Plus Limited, the development arm of Hutt City Council, on various fee simple and unit title residential developments and subdivisions.
Advising off-shore developer on its development agreement with Panuku for the acquisition of 20 hectares of residential land in Hobsonville Point.
Acting for Omokoroa Developments on a major subdivision development near Tauranga.
Advising on construction-related matters in connection with residential development, including successfully resisting multimillion dollar adjudication claims by the head contractor in a mixed commercial and residential development.

Build-to-rent (BTR)

The BTR market has been attracting increasing interest from both developers and investors in New Zealand. With pressure on the housing market unlikely to ease in the near future, research undertaken by Property Council New Zealand indicates that New Zealand could deliver over 25,000 build-to-rent homes in the next decade.

Our team has worked alongside Kāinga Ora, the New Zealand government's public housing landlord, on various fee simple and unit title residential developments and subdivisions.

Investors interested in the New Zealand market include pension funds, insurers, real estate investment trusts, financial institutions and sovereign wealth funds focused on yielding long term investments.

We have been actively involved in Property Council New Zealand's Build-to-rent working group, who have been advocating for law reform to encourage investment in the BTR sector (including seeking change to tax and foreign investment settings). This included providing input on PCNZ's submission on reform to the Overseas Investment Act 2005 in relation to the sector and the associated Overseas Investment (Build to Rent and Similar Rental Developments) Amendment Bill.

Student accommodation

We act for a growing number of student living providers and have a wealth of know-how and expertise in this area. Our relevant experience includes advising:

An overseas party on the acquisition and construction of three student accommodation facilities for Auckland University amounting to over 1500 beds.
An overseas party on the acquisition of a Whitaker Place student accommodation facility with 300 beds.
An overseas party on the acquisition and construction of a 695 bed Wakefield Street student accommodation facility for AUT.
An overseas fund on the acquisition of concession for Ilam Hall, University Hall and Sonoda Campus in Christchurch (combined more than 1500 beds).
Auckland developer on agreement with Panuku on the development of student accommodation in Manukau.
Singaporean party on its student accommodation facility in Wellington.

Senior living

As populations across the western world age, retirement care is a rapidly growing industry and New Zealand is no exception. Developing and managing facilities presents a variety of legal challenges to service providers, including property issues.

We have the necessary experience to guide developers, funders and operators through any development project, be it a retirement village, a traditional care home or an extra care facility. Our relevant experience includes advising:

Summerset on multiple acquisitions and greenfield developments across New Zealand for retirement villages including in Milldale, Cambridge, Papamoa, Napier, Waikanae, Blenheim, and Rangiora.
St Andrew’s Village Trust on a range of consenting issues.
On recent private plan changes for retirement village proposals, including in Rangiora and a current private plan change in Masterton.
On the fast-track consenting of proposals for, or including, retirement villages, including Summerset Waikanae, Summerset Half Moon Bay, and The Hill.
The Retirement Villages Association on a proposed review of the regulatory framework for the sector.

Top quality advice, industry knowledge and a communicative team.
Legal 500 Asia Pacific