Q: Tell us about your properties with NZBC?
We are currently developing a 2.5 hectare convenience retail complex, with an entertainment centre at its’ anchor.
The entertainment complex will include eight different operators, including the likes of TimeZone, Chipmunks and Megazone, with Motion Entertainment, our own brand, as the cinema complex. An additional 10 unit titles will feature a mix of convenience retail, food outlets and services such as a gymnasium, dentist.
Q: How did you hear about NZBC?
We previously developed Tauriko Business Park in Tauranga, during this a close business acquaintance who I trust recommended Tony Brindle and the team at NZBC. I met with Tony and Scott McKenzie, who proposed to we outsource the management and control of the body corporate to them. It was an excellent decision – the whole process was flawless. We sold the units off the plan, and on settlement NZBC coordinated all the new owners into an AGM and kicked things straight off into forming a wellfunctioning full body corporate.
I never had to worry about anything at all, NZBC organised everything to go into the Sale & Purchase Agreements, managed the disclosure statements, settlement accounts, draft budgets etc.. – I’ve not had anything to do with it – which is a phenomenal saving of time and hassle.
Q: What are you working on with NZBC now?
Based on my previous experience with NZBC, I have gotten Tony and Sarah involved nice and early for the Motion Entertainment development. They’ll be running the whole setup like last time, but it’ll be slightly different, in that as an operator we will now be a member of the body corporate ourselves. So far it’s early days, but they’ve already gone ahead and prepared draft body corporate rules - they are brilliant like that, make it so easy.
Q: What do you like most about NZBC?
Consistency – so far my experience with them on Motion Entertainment has been as excellent as it was with Tauriko, no surprises and always very proactive.
Experience - it runs very deep. Tony has such an indepth knowledge of the rules and the governance, it would be very hard to come by someone else that knows the law so inside out.
Processes – they’ve perfected their systems and procedures, which makes it a very easy for new owners and the transparency of documentation gives them real confidence.
Personality – Tony, Sarah and Scott are all really personable and good people to get on with. They’re good fun to work with and take the worry out of the whole process.
Q. Why do you think it’s important to use a professional body corporate consultant?
It’s essential that a body corporate is setup properly and legally, and that it’s fully transparent for all owners. And, at the end of the day, most investors that are buying the body corporate, don’t have body corporate experience – you could get into real strife by not doing things right.
Don’t just take our word for it, hear about Property developer Ryan Holmes’ experience working with NZBC.