Lyon O’Neale Arnold are solicitors for the Luxridge development. Mike O’Neale is the firm’s director in charge of this project. Mike specialises in land development and has worked alongside many local developers, completing complex and often difficult subdivisions and unit title developments.
The last few years have seen a huge amount of growth and change in the Bay of Plenty.
Mike’s practice has moved with these changes and created a wealth of local knowledge to the benefit of the firm and its clients.
“Our firm has acted in the development and sale of many large apartment projects in the Tauranga area, including a number of Mount Maunganui’s premier apartments”, O’Neale points out.
“We have also completed developments netting thousands of residential sections. We are pleased to extend our expertise to this new project”.
Luxridge is a unit title development. Unit titles are attractive in combining individual ownership (each unit) with shared common areas and facilities. The common areas outside of the apartments are managed by the body corporate for the mutual benefit of all owners.
Areas such as the proposed Luxridge gym provide opportunities for recreation far exceeding what individual owners are likely to be able to manage and afford on individual sections or in smaller developments.
Unit titles have ensured that individual owners of apartments can share in the capital appreciation of developments similar to Luxridge. The day-to-day running of unit title complexes is placed in the hands of a competent manager reporting to a committee of owners. Any owner can stand for the body corporate committee, ensuring maximum input by the owners.
That format generally works well for the owners as a whole, with committee members bringing a range of skills to the committee table.
“We look forward to working with the developer during the titling and sales for this landmark project”, Mike O’Neale says.