A large development site for sale is set to give rise to a residential/lifestyle subdivision in a rural setting 15 minutes from Palmerston North.
The parcel of more than 30 hectares of bare freehold land for sale sits beside the settlement of Rongotea. With close access to Palmerston North, Feilding and Ohakea Air Force Base, this area is being promoted by Manawatu District Council for residential development amid a shortage of lifestyle and residential sections.
Currently zoned Rural, the site adjoins Rongotea’s southern boundary, where proposed rezoning by the council could open the way for a subdivision of up to 200 residential sites. The existing zoning already allows for a large-lot lifestyle subdivision.
The property at Banks Road, Rongotea, is now being marketed for sale by way of Tender (closing at 4pm on Thursday 12 August) through Bayleys Palmerston North.
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Salespeople Karl Cameron and Nicky Vallender said the property consisted of some 30.4067 hectares (more or less) of mostly flat land across two freehold titles, which are to be sold in one parcel. This property will have strong appeal to developers.
“This L-shaped property runs from Banks Road and wraps around an already pre-sold subdivision,” said Cameron.
“The land is accessible from multiple entrance points, on Banks Road, Trent Street and Sterling Lane.
“The location offers expansive views, including towards the Tararua Ranges to the southeast. This, along with its beautiful coastal climate, will heighten the site’s appeal for developers and for what it will offer for future residents.”
Cameron said there was an “extreme shortage” of lifestyle and residential sections in the Manawatu region and this property would help to satisfy some of that demand.
“With massive infrastructure projects boosting the region’s economy, we expect demand to keep growing as buyers search for affordable lifestyle opportunities with good transport connections across the lower North Island.
“With its superb subdivision potential, this site represents an excellent opportunity for a developer to add significant value to the asset.”
Cameron said the Rongotea site’s existing Rural zoning with a “Nodal Area Overlay” allows for subdivision into lifestyle lots of at least 4,000 square metres, with the Manawatu District Council now consulting on a draft District Plan change recommending re-designation of this Rural land to be rezoned Settlement Zone.
“This would open the way for more intensive subdivision and development of circa 200 lots of approximately 1,000 square metres, significantly boosting the residential options for a developer.
“Rongotea has its own water supply and sewerage system, which is currently being upgraded. Council wastewater and water lines, compliant with the Government’s Three Waters Reform Programme, can be extended into the new development,” said Cameron.
Cameron said the property’s strategic location would make it highly attractive to developers.
“The site is positioned in the heart of the Manawatu, a Region underpinned by an extremely buoyant rural sector. Rongotea is a long-established service centre for surrounding farming districts.
“The region as a whole is undergoing strong growth supported by massive infrastructure spending of more than $4 billion,” Cameron said.
Major projects include a $400 million regeneration plan involving Defence Bases at Linton and Ohakea, Mercury Energy’s $450 million Turitea wind farm, the $184 million of planned capital spending at Massey University and the $200 million KiwiRail Regional Freight Hub, to name just a few.
“These major projects will bring workforce, investment opportunities and further significant growth,” said Cameron.
“The Banks Road site benefits from its proximity to the city amenities of Palmerston North, and has good connections to locations further afield.
“Wellington is already within easy reach being 90 minutes’ drive away. Expressway extensions northward to Levin and completion of the Transmission Gully Motorway will bring the Capital even closer with significant cuts to travel times. The Manawatu Gorge replacement highway will greatly improve access to the Hawke’s Bay and Wairarapa.
“This property certainly offers a special development opportunity in a fabulous location, and in a Region that is experiencing huge growth supported by massive Government infrastructure spend,” said Cameron.
- Article supplied by Bayleys
