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KiwiBuild buyers trying to get out of delayed Wellington apartment complex to get entire deposits back

KiwiBuild buyers trying to get out of a delayed Wellington apartment complex will now get their entire deposits back.

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The complex has been delayed by two years, 1 NEWS political reporter Benedict Collins revealed in an exclusive investigation. Source: 1 NEWS

It comes after a story from 1 NEWS on Saturday which revealed the property developer would let them out of the contracts but planned to keep thousands of dollars as a fee.

Wellington KiwiBuild project beset by delays accused of misleading first home buyers

Housing Minister Megan Woods said in the house this afternoon that’s now changed.

“I understand the developer will be communicating with KiwiBuild Monark purchasers to inform them that they are offering to return the full deposit payable on all KiwiBuild contracts cancelled and no costs will be recovered,” Ms Woods said.

“This offer will be for 10 working days from today. The developer and the Government remain committed to this development and we are confident there will continue to be demand for these homes.”

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The property developer is behind a repeatedly delayed apartment complex and is leaving some buyers without a home and significantly out of pocket after trusting the Government. Source: 1 NEWS

Last week, 1 NEWS also revealed the apartments, which were meant to be ready by this July, are now expected to be completed in June 2022.

Ms Woods also confirmed she’s working with officials to ensure those buying two- and three-bedroom Monark apartments only have to live in them for a year, as opposed to three years.

A buyer who has been trying to get out of a KiwiBuild contract for a Monark apartment because of the delays says it’s a brilliant outcome.

“Now we can take our money and walk away,” the buyer told 1 NEWS.