22 Stanley Street
Purpose Built Student Accommodation
Project summary /
Following the successful completion of Stuart McCutcheon House in January 2023, which is next to 22 Stanley Street, Reidy & Co with joint venture partners Haydn & Rollett and architects Ashton Mitchell conceptualised a new PBSA project.
Given its proximity to Stuart McCutcheon House, 22 Stanley presented an obvious opportunity. Through a long-term relationship with the owner of the property, Reidy & Co negotiated a conditional agreement to purchase the site subject to due diligence, University of Auckland’s commitment to a long-term lease and receipt of Resource Consent for the project, 2 levels over the permitted height limit.
Reidy & Co negotiated the lease terms and documentation of the new agreement for the project with University of Auckland.
During the conditional period Reidy & Co and Haydn & Rollett also introduced Precinct Properties to the project as developer and owner. The agreement with Precinct Properties was subject to the introduction of their capital partner to the project and building contract agreement with Haydn & Rollett.
Reidy & Co played a key role in all aspects of the project up to the commencement of construction of the project in June 2025.
Completion Date – January 2028
End value - $290m