|
 |
|
|
|
|
| |
The
UNITEC Residential Village 3 was developed, based on
previous projects and following intensive research into
how best to cater for the high demand for student
accommodation in a low maintenance, durable facility.
The result - a leading edge development, completed in
association with UNITEC
Institute of Technology (UNITEC).
The complex consists of 44
apartments of different sizes offering a mix of living
options ranging from single-bedroom apartments to
five-person flats, together with an office, a store and a laundry.
Each apartment has been constructed from modern,
low maintenance materials and designed to meet the needs
of students, including Cat six cabling to telephone
connections in each bedroom.
Each apartment is on its own Unit Title, allowing separate ownership, and will operate under normal Body
Corporate rules.
|
Aerial view of UNITEC Residential Village 3
|
| |
Fully
fitted out, ready for use, including a comprehensive
furniture package, all apartments are subjected to a lease
between the owner and UNITEC for 10 years with an option
to renew for a further 10 years. UNITEC in turn leases the
apartments to the students on a bedroom basis under a
tenancy agreement.
Each apartment receives a rental guarantee of 9.1%
per annum for the first four years, with rental
review to prevailing market rent during
the 10+10-year lease period.
As part of their commitment, UNITEC will provide
pastoral care to the students and administer the
operation of the total complex.
UNITEC Residential Village 3 opened in 2003 and is developed by Townscape
Consultants Limited.
|
|
|
|
|
