48 | Young firm enjoys rapid growth All TGC Homes properties are medium density and all brown-field developments. T T from page 46 TGC Homes “When you are growing any business, you have so many competing demands for your time, meaning you are often spread thinly and can’t give each element of your business the time and attention it needs,” Charles explains. “We’ve been able to lean into each field of the business a whole lot more than if it was just an individual starting a business. Having strong, determined people in each of these key areas of the business has been key to our ability to deliver what we say we are going to deliver.” TGC Homes’ initially started as a vehicle to buy and accumulate rental properties, but as the business scaled up it commenced building its own investment properties and projects progressively got bigger. “At the start of Covid, the decision was made to start selling some of the properties because there was significant buyer market for medium-density homes, and that trend has continued. All properties are medium density and all brown-field developments. We buy the sites, design properties, build the properties and sell the properties. Our design ethos has always been that every home we build has to be a home that we would like to keep in our own portfolio. “As we’ve got bigger, we have increased our scope and try to have a product at every level of the socio-economic ladder. We have completed quite a few social housing initiatives. We have our core ‘value stock’ targeted to first-home buyers and investors. “And we have some higher-end products targeted to owner/occupiers – predominantly down-sizers. They start at around $1M and go up to $1.5M, in and around well-located areas in Dunedin.” Charles says, on average, the Dunedin property market builds 380 new homes per year, of which 52 were built by TGC Homes last year. “The Dunedin District Council housing capacity reports state that Dunedin needs about 600 new homes per year to keep pace with population growth. Even when interest rates were down to 2.5% there were only 420 homes built, so a lot of work still needs to be done to build the homes the city needs.” QUALITY COBBLESTONING & ASPHALT SERVICES IN DUNEDIN 027 434 1505 mark@qccontracting.nz qualitycobblestoningandasphalt.co.nz Proud to be associated with TGC Homes I LESTONING & LT SERVICES IN DUNEDIN • ASPHALT & COBBLESTONING • EXCAVATION & EARTHMOVING • RETAININGWALLS & LANDSCAPING • DEMOLITION & SITE WORKS (03) 489 5343 admin@kbcontractors.co.nz Directional Drilling Pipe Ramming Pipe Bursting Thrust Boring Specialists in trenchless technology. Ph: 03 456 3530 • Cell: 027 242 9337 • www.decoratingservicesltd.co.nz • PAINTERS • DECORATORS • WALLPAPERING • COMMERCIAL • DOMESTIC Proudly supporting TGC Homes REGIONAL DEVELOPMENT
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