Developers are being sought to create a multi-unit residential complex on a key site put up for sale by Tauranga City Council in the heart of Mount Maunganui.
Located overlooking Blake Park, and close to Ocean Beach and Pilot Bay, the more than 2,000-square metre freehold site on Hinau Street is considered prime development land thanks to its high-density residential zoning.
Previously operated as the Hinau Street Village elder housing complex, the property is being offered for sale by the council following a city-wide review of public housing needs.
The site currently contains 12 elder housing units in three blocks and it is now being eyed by developers for an intensive apartment or townhouse project.
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Bayleys salesperson Mark Walton said the approximately 2,022-square metre site, with wide frontage to Hinau Street, was zoned High-Density Residential under the Tauranga City Plan.
“This enables housing intensification at a greater density than in the Residential Suburban zone, with allowance for buildings up to nine metres high and one independent dwelling unit per 100 square metres of land, subject to council approval,” said Walton.
“The new Enabling Housing Amendment to the RMA enacted recently by Government has resulted in changes around planning provisions of the City Plan which are currently being reviewed. This will open up additional development options and potentially greater intensification.”
The property at 8-10 Hinau Street, Mount Maunganui, Tauranga, is being marketed for sale by Walton, along with Simon Maxwell and Richard Wright of Bayleys Tauranga. Sale will be by deadline private treaty closing on Wednesday 8 June, unless the property is sold prior.
Maxwell said a strategic objective of the sale for the council was to help tackle the city’s housing shortage through a well-designed intensified redevelopment, with sale proceeds reinvested into social housing elsewhere in the city.
“The property is being offered for sale with vacant possession, with the possibility of a leaseback, for a time, of any units still occupied after the sale while the council arranges alternative housing for tenants,” Maxwell said.
The High-Density Residential zone aims to encourage intensive development at the western end of Mount Maunganui, close to the downtown shopping area, the beaches, harbour, and recreational amenities.
Wright said the zone’s purpose was to provide for a high-density mix of visitor and residential accommodation in the form of multi-unit and apartment complexes.
“Given the intensive environment envisaged, and the abundance of off-site amenity in the area, there is a huge opportunity for a developer to create something special, potentially a high-quality legacy project.”
“The Hinau Street property overlooks Blake Park, which contains key sporting facilities including the Bay Oval international cricket ground, rugby fields, netball courts, hockey turf and tennis courts.”
“Other nearby amenities include the iconic Mount Maunganui downtown food and beverage hub, as well as retail, a supermarket, and primary and secondary schools, and the area is well served by city bus services,” Wright said.
-Article supplied by Bayleys
