Consents are in place for a developer to create something special in ‘The Trout Fishing Capital Of The World’.
“It will be one of the largest residential developments for the southern end of Lake Taupo, and most importantly, it’s ready to go,” says Wai Johnson, franchise owner of Century 21 Premier in Turangi.
The over 1.5-hectare site at 14-24 Turanga Place, Turangi, is up for tender. Resource consent has been granted for 51 modest entry-level terraced houses, eight garages, and a pavilion. Building consent has been granted for five units, with their slabs completed and certified, and a local master builder available for construction.
Turanga Place has existing residential properties, with skis for hire and boats for sale just around the corner. Among light commercial businesses, and zoned industrial, the large flat site can accommodate residential activity.
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Well located on a quiet loop road at the Tokaanu Road end of Turangi township, residents will have ready access to the hot pools, Kuratau, and of course Mt Ruapehu.
Dubbed Alpine Gateway, Johnson says the project is a timely and critical one for Turangi.
With the local market incredibly buoyant, demand well and truly outstrips supply. Residential listings are scarce – down 37.1% on 2019 levels - with buyer enquiry increasing daily.
Fifty-year-old ‘hydro houses’ that were selling for less than $200,000 five years ago are now in many cases cracking $400,000.
“Turangi has effectively run out of freehold developable land. Section prices have more than doubled and there are no new-builds on the market. The fact that is a sizable piece of bare land with a resource consent in place for multiple townhouses is really unique and exciting for Turangi,” says Johnson.
She says Turanga Place will appeal to developers keen to spy opportunities to supply affordable townhouses, where there’s significant demand, and good margin to be made.
Turangi is known for the nearby skiing, hiking, mountain biking, whitewater rafting, and boating – helped by its proximity to the lake, mountain, and the famous Tongariro River. The new Sky Waka gondola up Whakapapa is also proving a popular visitor attraction.
Johnson says Taupo’s now expensive prices have meant, many permanent residents and holidaymakers are opting for Turangi instead.
Adding to its attraction is the area’s locality. With the Hamilton bypass soon to open and Transmission Gully under construction, the Central North Island is set to get even closer to Auckland and Wellington.
Marketed by Century 21’s Patrick Barry, tenders close for 14-24 Turanga Place on 20 August.
- Article supplied by Century 21
