23 May 2018

InvestaMatch Spotlight - Wheel House NZ

 

Wheel Houses NZ is a Southland start-up that creates small, compact homes on light trailer. This idea has been created in response to the massive interest in Tiny Homes in NZ and the systematic problem of building houses under the 3.5 ton legal road weight for a light trailer. “I thought of the idea as after working out the costs associated with owning a bus, the overheads equate to roughly $60,000 a year, almost like having another mortgage. As I want to be now living a semi-retired lifestyle this isn’t sustainable, so I came up the concept for Wheel Houses”, Paul Kirk.

“Housing in NZ is becoming out of reach for significant numbers of Kiwis & this option will open up a massive market potential”. This business opportunity could be the next big housing boom in NZ & we are the only company able to meet this demand currently. Commentators have said they believe there is a potential to sell 400 – 600 units”, says Paul.

The Wheel House is essentially a caravan, albeit a very large caravan, therefore there is normally no resource consent or building permission involved. Councils must allow the use of these vehicles on the designated property, as our Wheel Houses are ‘Code Marked’, the national certificate of being 100% compliant with NZ Building Codes. The size of our Wheel House is 12.5m long x 2.55m wide x 4.2m high (two storeys), which is equivalent to a 43 sqm unit.

Paul’s strategy for Wheel House is simple. Build newer models to showcase to the country, iron out any kinks in the production process and establish wanting buyers. Paul believes that wanting buyers could be a range of people including, farmers, working accommodation, ‘off the grid’ citizens, guest accommodation, rental income, emergency housing, or holiday homes. “With such a variety of potential buyers, finding interest shouldn’t be too difficult” says Paul

Ultimately, Paul is looking for capital investment in his business opportunity to create more models to display throughout the country. He feels that with newer models he can showcase the Wheel House at various exhibitions around the country, which will create a greater presence in the market. Paul is looking for funding of up to $500,000 which could be in the form of equity, a loan, or a combination of the two.

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