a) The developer is a New Zealand property development company called 1906 Telegraph Road Limited. Company directors are Matthew Gilligan (Chartered Accountant) and Peter Montgomery, both experienced property developers with combined experience of developing over 350 sections between them.

a) Payment of 5% is due on signing.

b) Payment of 5% is due on issuance of resource consent, which is estimated to be issued on or around the end of September 2021.

c) Deposits are held in the trust account of the developer’s solicitors. Interest earned (if any) accrues to the favour of the purchaser. If the subdivision does not proceed for any reason, purchasers’ deposits will be returned to them in full from the solicitor’s trust account, together with interest (nett of any withholding tax payable to IRD).

a) All obligations between the buyer and the developer expire and deposits are returned in full to the buyer. The contract for the purchase of the land cancels at the earlier of

• The developer declaring that they are unable to proceed; or..
• The expiration of the sunset date in the Agreement for Sale and Purchase.

a) Resource consent issued: September/October 2021

b) Engineering approvals and construction consents issued: November/December 2021

c) Construction commencement: January 17, 2022

d) Public sewer and water upgrade completion: estimated mid-2022

e) Darfield Estates Subdivision Completion: October/November 2022

f) Titles issues issued / settlements called for: likely between November 2022 – January 2023

Note: these timelines are anticipated timelines, and therefore vary from the Sale and Purchase Agreements which cater for unforeseen delays outside the developer’s controls.

a) We estimate settlement will likely be between November 2022 – January 2023 for titles being issued and settlement due.

b) Selwyn District Council are upgrading the Darfield sewer main and water supply on Telegraph Road, which the subdivision will connect to. These public works are due for completion mid-2022. We have incorporated this upgrade into our timeframe and planning. A delay in these works will delay our subdivision. We are in discussions with the Selwyn District Council and as at July 2021, we can report favourable planning and engineering progress to be on track to meet the anticipated completion date in mid-2022.

a) We have set a standardised look for Darfield Estates of 1.8m fencing pails around the three sides (not adjacent to the street) and post and 2 rail across the front.

• All Lots (Except Corner Sites):
  • Side fences: For all lots (except corner sites), the 1.8 fencing must be set back 4m from the front yard (which will match the building set back under the district plan requirements).
  • Front fence: Within the 4m front yard, land owners can have no fence, or a post and 2 rail fence (with hedging or landscaping on the inside for privacy, if required).
• These controls will provide for a land scaped open look on the street with fully fenced back yards. This increases subdivision appeal and stops everyone building 1.8m high fences (right on the front boundary), which can look austere and frankly not pleasant for the community. The developer has done this elsewhere with great success in prior subdivisions, providing a premium look and feel in the streets created.

Developer Fencing With Charge Back
b) One of the issues that arises with new subdivisions is the establishment of fences and the ensuing survey and cost negotiations that result, often at great cost and angst to the land owners. To avoid this, the developer has established the following requirements of purchasers to provide for fencing at minimum cost from the outset:

• The developer will install at the purchaser’s cost the 1.8m fencing on the side and rear boundary.
• The developer will on-charge purchasers the fencing cost at the discounted bulk rate of $90 + GST per lineal metre and install the fencing on or around settlement; and
• the developer will split the cost of the fence between neighbours by charging purchaser’s half each, of the total fencing cost on their boundary, where the boundary has an adjacent residential neighbour that is part of the Darfield Estates Subdivision.
• For example for a hypothetical 900m² lot with rear boundary of 25m and two side boundaries of 36m, the Purchaser shall pay:
  
• This is to avoid neighbour disputes and arguments over who pays etc, and to minimise costs to purchasers in the subdivision. It also significantly reduces the cost of survey (of the fence line) to the purchasers post settlement.
• We leave the construction of the post and 2 rail fence on the front boundary, to the purchaser to complete after house construction. (Covenants require a simple post and 2 rail fence across the front per the sample fence below).

Anticipated Side/Rear Boundary Look
This look or similar (likely without capping on the post).

Suggested front boundary look To meet ‘Post and 2 Rail’ covenant

a) In order to maximise visual amenity to the subdivision, the developer has set a 4.0m building line set-back from the front boundary. This will create some conformity across the subdivision in the front yards, with houses set-back the minimum requirement to avoid cluttering the streetscape with over-hanging buildings.

b) This setback covenant will be on the title to enforce the requirement for design of construction within the subdivision.

c) This setback is intended to comply with the district plan.

a) There will be in due course access to nearby public reserves provided by the Selwyn District Council.

a)Yes there are limited restrictive covenants. These are straightforward and are designed to protect your investment. These are set out in the Agreement for Sale and Purchase, but highlights include:-

• Minimum construction size of 90m² (excluding the garage) and no transportable or second hand dwellings;
• Earthy colours, not bright gawdy colours for construction;
• Front yard setback of 4.0m per the district plan
• Fencing covenants as set out above
• Residential use, no noisy industrial neighbours
• No pigs, no roosters, no more than 8 Hens
• No construction from second-hand materials
• Only new relocatables, no second hand houses to be relocated on site.