The UNITEC Residential Village 1 was developed 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 35 units of self-contained 5- bedroom apartments, common room and 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.

UNITEC Residential Village 1

Each apartment is on its own Unit Title, allowing separate ownership, and will operate under normal Body Corporate rules.

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 8% 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 1510 opened in 2003 and is developed by Townscape Consultants Limited.