Two prime residential development sites totalling just under two hectares are for sale in the second stage of a large-scale, mixed-use development set to transform the northern gateway to Hamilton.
Registrations of interest are being sought for the two superlots – one 11,053sqm, the other 8,575sqm – capable of accommodating over 240 dwellings at Te Awa Lakes at Horotiu on the northern outskirts of Hamilton.
Once completed, the 100ha Te Awa Lakes development located alongside the Waikato River and the Waikato Expressway (State Highway One) will feature up to 2,500 new medium-density dwellings, which could accommodate around 4,000 residents, as well as significant retail, commercial, and recreation attractions.
Bayleys Real Estate has been appointed sole agents to sell the second stage of the first phase of what is expected to be a 10-year $1 billion project.
Start your property search
“Offering extensive lakeside frontage and water outlooks, this is an exciting opportunity for developers and/or builders to be part of the next stage of Hamilton's premium mixed-use community development,” says Gerald Rundle, Bayleys’ corporate projects manager. He is marketing the property with colleagues David Cashmore, Suzie Wigglesworth, and Paula Bennett.
Last year Bayleys sold approximately three hectares of land for stage one of the project, which will encompass a town centre as well as its first houses, to Hamilton-based Foster Develop and G.J Gardner.
David Cashmore who negotiated the sale says Foster Develop will build the commercial hub containing retail, hospitality, office, and community facilities which will include cafes, restaurants, a supermarket, a gymnasium, and a medical centre. G.J Gardner will construct an initial 90 dwellings.
Stage one construction work is expected to start in the third quarter of this year following the issuing of land titles.
Cashmore says the second stage will encompass medium to high-density housing such as walk-up terraced apartments. He says the lots for sale are in a central position within the development with the 8,575sqm lot running along the edge of a lake and the 11,053sqm lot positioned behind it on the sloping site.
An adjoining reserve area will enable owners to launch small watercraft such as canoes or paddleboards on the lake. “The lots are also a short stroll away from the town centre while being far enough away from nearby major roading such as Te Rapa Rd, the Waikato Expressway and Hutchinson Rd to not be affected by traffic noise,” Cashmore says. “They offer two of the project’s best development opportunities with keen buyer interest expected in dwellings built on these sites.”
The superlots can be purchased individually or together, with titles estimated to be available in August next year. Initial registrations of interest for the acquisition and development of the lots close on May 4, 2022.
Resource consent for the project was granted late last year by Hamilton City Council with Hamilton mayor Paula Southgate describing it as an exciting project for the city.
“Te Awa Lakes is a welcome development but not just because it means more houses. It offers different types of homes and more choice for home buyers. Plus, the recreational aspect of the development, with the river and the lakes, is a bonus for the whole of Hamilton, not just those who choose to live there.”
Te Awa Lakes development director Lale Ieremia says the resource consent has been five years in the making and represents the start of the largest master-planned mixed-use community in the Waikato region. “It will be an exemplar for master-planned communities of the future.”
He says earthworks and subdivision work for the first three stages are now underway. These stages, expected to be completed within three to four years, will encompass a range of housing typologies and densities as well as the town centre.
The initial stages will incorporate land adjacent to the feature lakes as well as lots overlooking the Waikato River. The river will be opened up along the 1.5 km length of Te Awa Lakes site via an esplanade with multiple new connections to the Te Awa River Ride, a 64km cycling and walking trail from Ngaruawahia through to Lake Karapiro following the Waikato River.
The property is owned and was formerly operated as a sand quarry by the Perry Group and some of the man-made lakes that remain on the vacant site are being modified and upgraded as part of its redevelopment.
The project is a joint venture between HFL Investments Limited, a subsidiary of the Perry Group, and PPD Te Awa Lakes, a company associated with Schick Construction which is undertaking the civil infrastructure works. This includes earthworks, roading and streetscape works and the supply of utilities to the lots including power, telecommunications, water, and waste services.
“Our very clear vision with Te Awa Lakes is to transform an unused industrial site into a thriving, integrated community providing a new way of living for the region,” says Te Awa Lakes chief executive Richard Coventry.
“We are looking to work in partnership with established developers and housebuilders experienced in large-scale projects. The master plan envisages a range of housing types across the full price spectrum to meet the needs of a diverse range of owners from young professionals buying their first homes to families and retirees.”
- Article supplied by Bayleys
