PROPERTY DETAILS:
Your dream of home ownership is within reach, thanks to the new Peake Mews development.
This exciting new 42-home community has been master planned to help meet the housing needs of Waikato people.
Set among beautifully landscaped gardens and recreation areas, the stylish terraced homes allow residents to enjoy a tranquil lifestyle in a premium Cambridge location.
Set for completion in June 2023 and available for freehold purchase, these three-bedroom homes and the two and threebedroom townhouses are ideal for first-home buyers, downsizers and keen investors.
The brainchild of the Bridge Housing Trust, which focuses on addressing the housing shortage for first-time home owners, Peake Mews offers affordable, architecturally-designed housing in an innovative, vibrant, and connected community.
‘‘The Bridge Housing Trust was set up by the highly reputable Brian Perry Charitable Trust, which speaks volumes for the quality on offer. The Brian Perry Charitable Trust has been involved in carrying out some incredible projects in our community, such as the Avantidrome and our new Te Awa River Cycleway. These projects are always done to a very high standard and have had a hugely positive impact on our community. It’s essential in real estate to look at things differently, so to be on a project that’s creating solutions to address the affordability crisis, is extremely rewarding,’’ says Sacha Webb from Cambridge Real Estate.
Each home is architecturally designed by PAUA Architects and will be built by award-winning building company Anthem Homes, featuring an innovative style, with traditional ground-floor build with modular second and third levels.
High quality features and finishings include stone benchtops, premium carpet and stunning flooring. You get to choose between three considered, timeless interior design options.
Each three-bedroom home and townhouse comes with one bathroom and two parking spaces, and the two-bedroom townhouses feature one bathroom and one parking space each.
Located just three minutes from Cambridge town centre, and one minute to the Avantidrome, it’s an accessible neighbourhood, close to everything you need. A short walk down the road takes you to the popular and bustling Amber Garden Centre and Clementine Cafe´ for brunch. With the new expressway, Hamilton is just a short drive away, making it ideal for commuters.
Deposits start at $26,250 for a two-bedroom townhouse, with grants available through Kainga Ora to help reduce costs.
‘‘If you’re eligible, based on your income to apply for a first-time home owner’s grant, you can receive up to $10,000 towards your purchase. If you’re buying with someone and you both fit the criteria, then you may both be able to apply for the $10,000 grant toward the property,’’ says Sacha Webb.
‘‘To apply for this grant, the home you are buying must be $725,000 or less, which is why we’re offering a $25,000 discount off the first 10 two-bedroom homes for first-time buyers so they will be priced at $725,000 instead of $750,000.’’
To purchase with a $26,250 deposit, you would also have to be eligible and apply for the First Home Partnership Scheme set up by Kainga Ora.
‘‘This would mean Kainga Ora will have an investment in your home. The percentage they invest (up to 25 per cent) would dictate how much you pay back based on the value of your home when you sell it.’’
Based on a home at $725,000, this would be a maximum investment of $181,250 through the First Home Partnership Scheme. This would mean the remaining amount needed, through mortgage and deposit is $543,750. A 5 per cent deposit on
Location: Peake Mews, Cambridge
Address: 10 Peake Road Price: Two-bedroom townhouse: The first 10 are discount to $725,000 to meet the grants’ eligibility, the remainder are $750,000. Three-bedroom standalone homes: $800,000
Agent: Sacha Webb
Phone: 021 363 387
Email: sacha@camreal.co.nz Agent: Alison Boone
Phone: 027 277 8726
Email: alison@camreal.co.nz Web: bridgehousing.co.nz Licensed Agent REAA 2008
$725,000 is $36,250. When you apply the $10,000 from First Time Buyers Grant, this brings the deposit down to $26,250.
Peake Mews will be made up of homes sold as freehold unit titles, as well as secured housing options. Secured housing will allow those who meet the criteria, to purchase a home based on the building cost only. The land will remain under ownership of the Trust.
The Bridge Housing Trust is taking registrations for those interested in applying for the secured home ownership option. The criteria and application process is outlined on their website, bridgehousing.co.nz says Sacha.