China Construction vs Shundi Customs over skyscraper Seascape; Herne Bay’s many homes for sale; Chris Dibble in new role; new Manukau temple nears completion; and the Carrie Bradshaw index – all in today’s Property Insider.
The Building Disputes Tribunal issued an August 2 determination for China Construction New Zealand against Shundi Customs in the dispute between the two over the stalled 56-level $300 million Seascape skyscraper apartment tower in Auckland.
That showed the builder has been granted a charging order over the downtown city construction site owned by the development business.
Adjudicator John Green’s 119-page decision granted the builder that charging order as well as awarding it $33 million to be paid by the developer.
“I have determined that the respondent Shundi Customs is liable to pay the claimant, China Construction New Zealand, the amount of $33,019,696.01 including GST and accordingly, I approve the issue of a charging order in respect of the construction site owned by Shundi,” he wrote.
A charging order prevents a property owner from selling their property until the judgment is repaid.
China Construction was represented by a team led by Denton’s Brendan Cash. Shundi Customs was represented by a team led by Anthony Harper’s Karen Kemp.
“This dispute concerns whether there is currently a due date for completion of the Seascape project and if so, what that due date is. In particular, it concerns whether the circumstances are such that time for completion of the Seascape project is at large or in the alternative whether and to what extent extensions of time ought to be awarded to China Construction,” Green’s summary of the fight said.
The dispute was also about deductions made by Shundi, Green wrote.
On March 14, the developer had deducted $24m for “disallowed costs” and a further $4m for liquidated damages. Green found those deductions were invalid.
He determined time was “not at large” for the project and the builder was required to complete it by the due date, adjusted in terms of the contract.
China Construction was entitled to a 404 working day extension of time.
Green noted Seascape’s features:
He also gave timelines:
Green wrote: “Almost three years after the due date for completion under the contract, the superstructure and building envelop are not yet complete and the Seascape project is still some time away from completion. Delay and extensions of time have been a recurring feature of the project.”
Witness statements were submitted including from Frank Xu, Shundi’s deputy general manager and executive project manager for Seascape as well as China Construction’s commercial manager on the project, Jiayi Li.
Auckland Deputy Mayor Desley Simpson said council staff told her all contractors would need new contracts and that could take three months, even if agreements were reached today. A floor-by-floor inspection by council staff would ensure site safety, she said.
Asked to comment on the decision, Green declined.
Their lights are off, no one is home for weeks, so are many Herne Bay residents enjoying the warm European summer?
One resident of New Zealand’s most expensive suburb says far more than the usual number of places are unofficially for sale.
“My understanding is that there are eight waterfront homes here on the market,” he says, adding that such homes aren’t being widely promoted in any public way.
“Put it this way: they’re not usually on Trade Me.”
Far more homes are now quietly for sale than is usually the case – perhaps a sign the downturn has hit even some in the wealthiest end of town.
“Normally, only one would be for sale and that one would never last on the market.”
Kurt and Makere Gibbons have their Marine Parade place for sale, after buying it about four years ago for $23.5m.
Our informant says Ben Cook’s family home is by far the best in the area with its own helipad and peninsula, though he notes Cook has said it’s not for sale.
“New Zealand has lost its shine for a lot of people. I still love it, but you have to get out of the city to really appreciate how good it is. City people are very negative currently,” the resident said.
Chris Dibble has left Colliers for rival agency JLL as its new research head based in Auckland.
And it’s a return to JLL where he was its associate director of research and consulting.
“I’m particularly excited about the opportunity to collaborate with a talented team locally and globally, to push the boundaries of market research and consultancy advice. My aim is to help JLL continue to innovate and provide unparalleled value to our clients.”
If you’ve been through Manukau in the past couple of years, you would have seen the huge new temple on the hill above the motorway.
That is for the Church of Jesus Christ of Latter-day Saints, which people often refer to as the Mormons.
Richard Hunter, New Zealand-based Pacific area communications officer, says people will be able to see inside soon.
“It’s getting close. The open-house dates should be announced in the coming weeks, I hope. There will be a news media day walk-through and interviews before the dignitary and public tours. We hope that many Aucklanders and people from further afield will take the opportunity to walk through the temple during the open house,” he said.
The quality is high because church members consider temples to be houses of the Lord, Hunter said.
“When people ask what about helping people who are hungry or suffering in other ways, we strive to follow the two great commandments, to love God and to love our neighbour. Last year the church donated US$1.36b ($2.2b) to humanitarian efforts worldwide,” Hunter said, heading off criticism already arising on social media forums about such a magnificent building.
The Economist uses this measure of where Americans can afford to live solo in 2024.
This is the second year it has revealed the findings, published on August 15 and headlined Our Carrie Bradshaw index: Where Americans can afford to live solo in 2024.
The index ranks 100 major US urban centres by their affordability for people who want to live alone, just as its namesake does in Sex and the City.
Wichita in Kansas was ranked most affordable and New York City least affordable.
It could be good for some New Zealand researchers to take a look at this, putting rents up against wages, to find out where a Carrie-type person in this country would do best to rent and earn a living.
And the Economist returns to its measure of affordability: the rule that a tenant shouldn’t spend any more than 30% of gross income on rent.
This was canvassed in this column on June 18 where New Zealand topped a 2022 OECD chart for tenants spending more than 40% of disposable income on rent, outstripping Britain, Spain, the United States, Canada, Ireland, Japan, France, Italy, Germany and Austria.
Of those who rent, one in four Kiwis spends 40% or more of their disposable income on rent. That’s ahead of the British where 22% of renters spend more than 40% of their disposable income and the Spanish at 20%.
Anne Gibson has been the Herald’s property editor for 24 years, written books and covered property extensively here and overseas.
'Some people can’t remember anyone in their family owning a home.'