When real estate listings use terms like “blank slate” and “do-over”, they usually refer to an old home or property that has potential to become something new.
With this property, “blank slate” refers to “potential to build a city”. Quite literally.
At first glance, 786 Paerata Road, in Paerata, Franklin looks like a quintessential Kiwi farm. At second glance, though, this property oozes with development potential.
Positioned immediately opposite the thriving Paerata Rise, Pukekohe’s shining example of a masterplanned subdivision, this 21.59-hectare property has the potential to duplicate its neighbour’s success and create hundreds more homes for Aucklanders looking for wide open spaces not too far from the city.
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Harcourts agents Andrew Whiteley and Kevin Seymour say a development at 786 Paerata Road would effectively piggy-back the amenities already on offer across the road at Paerata Rise.
“When that community is complete, there will be around 5000 brand-new homes at Paerata Rise,” Seymour says.
“With so many homes comes plenty of amenities. A brand-new school has already opened and a commercial area for everything from shopping and recreation to medical facilities is planned for the future.”
Harcourts agents Andrew Whiteley and Kevin Seymour say a development at 786 Paerata Road would effectively piggy-back the amenities already on offer across the road at Paerata Rise.
It’s predicted that the Franklin area could become the same size as Hamilton by 2040.
“If everything that the council says is going to happen comes to pass, Franklin will become its own economy,” says Whiteley.
“Right now, the area has one of the highest per capita rates of commuting, but when the area’s fully developed that probably won’t be necessary. It’s estimated that more than 70,000 service jobs will be created so more people will be able to live and work in the same area.
“Plus, for people who do commute to Auckland or Hamilton, three future-proofed train stations are planned for the area, including one close to Paerata.
“When you consider what’s happening in the Waikato too, like Pokeno which is growing exceptionally, maybe we should declare independence from Auckland and start our own republic,” Seymour laughs. “The Republic of North Waikato.”
When you consider the quality at Paerata Rise, it’s easy to imagine what a development at neighbouring 786 Paerata Road could look like. Within the 21.59 hectares on the market, about 16 are zoned as Future Urban “which would give you a couple hundred sites at least, plus plenty of green space for integrated living”.
Within the 21.59 hectares on the market, about 16 are zoned as Future Urban “which would give you a couple hundred sites at least, plus plenty of green space for integrated living”, says Seymour.
Seymour says it feels like the whole region is on the cusp of something special.
“The Harcourts Pukekohe office has seen a major increase in business volume over the last month. The whole district seems to have a feeling of buoyancy and growth. Both buyers and sellers are in the mood to transact. The next quarter could be a sweet spot in the market,” he says.
The vendors have owned this slice of classic New Zealand farmland since 1973 and have farmed it for three generations.
Seymour says the existing dwelling would make an ideal site office, while a collection of large sheds would be perfect to hide away machinery. Plus, because the site is only 300 metres from the roundabout that goes to Glenbrook, accessibility in and out is easy.
While this site has endless untapped potential, it’s easy to look into the future.
“This kind of development potential doesn’t come to market often. The opportunities here are endless for the right buyer,” says Whiteley.
- Sponsored by Harcourts
