Joint Venture
Let’s Build Together
Citrus Living is ready to help you unlock the full potential of your land through a structured and secure joint venture. With experience, transparency, and a commitment to results, we’re the partner you can trust.
We manage the entire process, from due diligence to design, planning, funding, construction and sale. You contribute the land, and share in the upside—with no personal risk.
Get in touch to explore a joint venture on your land.
How It Works: A Proven 6-Step Process
1. Sales Contract
We begin by signing a conditional Sale and Purchase Agreement with you, confirming Citrus Living’s intention to acquire the land at the agreed value. This agreement outlines key terms and timelines, while protecting your rights throughout the initial phase.
2. Due Dilligence
Over the course of 20 working days (One-month), we complete a thorough feasibility study. Our team of experts carries out site-specific investigations—civil engineering, geotechnical testing, planning and zoning reviews—to confirm development viability. All reports are funded by Citrus Living.
3. Planning & Pre-Sales
With confidence in the site, we commence design and planning work to obtain Resource Consent. Citrus Living manages and pays for all council applications, planning reports and consultant inputs. At the same time, we launch off-the-plan sales, engaging our trusted sales partners to pre-sell units.
4. Land Settlement
Once Resource Consent is granted, we form a new development company. The land is settled into this new entity, with you holding an agreed % of shares and Citrus Living holding the remainder. This company becomes the legal owner of the land and will undertake the build. Initial bank funding is secured to assist with upcoming consultant and project costs.
5. Construction Finance
As the design progresses, we apply for Building Consent. Once consent is issued and sufficient presales are secured (typically 50% of units), we obtain full construction finance from our banking partners. Our longstanding banking relationships ensure a smooth approval process.
6. Project Completion
When construction is complete, we secure Code Compliance Certificates (CCC) from the council and new titles from LINZ. Final settlements are triggered as buyers complete their purchases. The bank is repaid, and you receive your initial land value contribution plus agreed % of the total profit.
Your Security & Protections
We structure our joint ventures to protect landowners and give peace of mind throughout the process. Here’s how we ensure your interests are protected:
- You hold your agreed % of the equity but are not classified as a developer by the IRD.
- You are not required to be a director of the development company personal guarantees are required from you.
- Your land contribution is recorded as a shareholder advance, and sits as a first-ranking repayment in the case of default.
- A separate development company and bank account are created solely for your project.
- You are entitled to a second-ranking mortgage over the land.
- You may also receive a General Security Agreement(GSA) over the development company for added protection.