Most residential property developers use the NZS 3910 standard form of building contract. It’s used for infrastructure works for a subdivision or for building high-rise apartments. It’s used regardless of the procurement method e.g. traditional client-designed projects, design/build (with or without novated design consultants). NZS 3910 has just had a make-over. This should mean fewer special conditions…
DetailsDevelopers commonly become members of the body corporate committee, especially if units remain unsold or it is a staged development, so as to retain control. There has been a recent case (Guardian Retail Holdings Limited v Buddle Findlay High Court, 27 June 2013) considering body corporate committee member’s personal liability. The underlying issue was the…
DetailsWe are seeing new structures and different property offerings. Now Government, Council, community organisations, iwi are all active in this space. The focus is mostly affordable housing – ironically being delivered via complex contract structures with multiple parties involved, probably adding cost to the development process. But the land is going into and out of…
DetailsIt’s tricky – anticipating what the bank will want; especially if your plan is to change lenders once development funding is needed. It definitely involves wearing a banker’s hat. Balance that with matching the flexibility a residential property developer needs to manage unexpected changes, and the requirements of the contract to be something the market…
DetailsSugartree have secured their development finance and have started the construction of Stage 1 which comprises 148 apartments and 15 retail units together with basement car parking. Stages 2 and 3 include 425 more apartments, more commercial units, carparking and a rooftop garden. The team at AlexanderDorrington have been working with the Sugartree developers…
DetailsThe increasing demand for housing in Auckland has fueled a return of residential apartment developments. The availability of affordable apartments could be seen as a welcome relief to those struggling to get their foot in the rising Auckland property market. There are a number of issues that any party buying an apartment off the plans…
DetailsLimitation periods are relevant to all sorts of issues you come across each day: • Is your builder responsible if you discover defects after they finish? • You are negotiating a new supply contract for your business and considering a request for a 1 year limitation period? • How long do you keep business records for in case…
DetailsIntroducing propertyROOM.co.nz A way to ensure potential buyers of residential property receive proper explanations about issues in the title and LIM reports. Read more about the propertyROOM here. Do you remember the story about a real estate agent, a sale and a land covenant? (LB and QB v The Real Estate Agents Authority & Li…
DetailsCongratulations to George Donaldson who is the 2012/2013 winner of our University of Auckland Business School Property Scholarship. For many years we have provided a scholarship for students of the Department of Property at the University of Auckland Business School. The scholarship is awarded annually to a full-time student enrolled in year 2 or 3…
DetailsLINZ ismaking it easier for members of the public to access its records. Here’s a link to their website that explains what they are up to. It looks like both businesses and individuals will have a more immediate access.
The Consumer Law Reform Bill is almost ready to be passed into law. The Commerce Commission signals the new law might be in place as early as 1 October 2013. It will change the way we all do business and enlarge consumer rights. All businesses, especially those that sell to the public, will need to be across…
DetailsIn Britain legal services can be sold by a supermarket. In Chicago clients can nominate the fee they want to pay – they decide after the job is done. In India thousands of lawyers deliver legal services to law firms throughout the globe in response to those firms’ requirements for outsourcing. Lawyers have changed the…
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