An expansive landholding with vast potential in the popular Hawke’s Bay town of Havelock North will hold significant appeal for developers or investors looking to secure a high-profile site with long-term upside.
174 and 176 Brookvale Road, Havelock North spans 22.5265ha and is split into three freehold titles, which are zoned Plains Production Zone. There is potential to adjust the boundaries of the titles for the new owner.
Due to the current occupant’s impending departure, there is potential for a short-term sale and leaseback agreement to be negotiated during the sales process.
Large-scale development sites are in short supply in the wider Hawke’s Bay region meaning this property will draw strong interest among prospective purchasers.
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The property currently has buildings and facilities that provide 8,796sq m of total rentable floor area.
The site, which offers access via Brookvale Road, is approximately 3km east of the Havelock North village and is located near the recently developed Brookfield and Arataki residential areas.
Colliers Hawke’s Bay Director Danny Blair has been exclusively appointed to market the property for sale and is taking expressions of interest with the deadline closing at 4pm on Thursday 3 November, unless sold prior.
Blair says a site of this size and scale is a rarity on the open market and will pique the interest of a wide array of buyers.
“The current occupants have expressed their desire to move on but are open to negotiating a short-term sale and leaseback agreement that would provide holding income for the new owner, while they strategically plan their future moves for the site,” Blair says.
“Given the sheer size of the landholding, there’s a range of options that are available to buyers who could choose to divide the property into three lifestyle blocks or potentially create a retirement living and residential development, subject to the acquisition of the appropriate consents.
“The contour of the site is mainly level with a gradual incline along the western boundary that has been levelled to provide a suitable platform for development.”
Hawke’s Bay continues to thrive as a popular regional hub in New Zealand that offers an attractive lifestyle and has experienced ongoing growth during the past few years.
The regional economy is underpinned by a dynamic horticulture industry that has attracted strong investor capital, while a range of key infrastructure projects continue to improve services across the region.
“Data from Stats NZ shows consistent population growth in Hawke’s Bay in recent years,” Blair says.
“There has also been notable job growth with employee numbers rising for the past decade, indicating there are strong employment opportunities in the region.
“Further research also highlights a rise in building consents for residential developments, which have grown rapidly, peaking last year.”
Blair says the size of this property coupled with its appealing location makes it one of the most compelling sites that will be presented to the market in Hawke’s Bay this year.
“Havelock North has a range of outstanding hospitality options and nearby wineries that are popular among locals and visitors to the area. The Havelock North village also provides boutique shopping options and a range of other amenities."
- Article supplied by Colliers
