A large-scale landholding on Hamilton’s fringe is for sale, presenting a greenfield development opportunity that could leverage projected growth in the city’s western frame.
The existing Rogerson Racing Stables equestrian facility and associated land at 179, 183 and 293 Tuhikaramea Road, Dinsdale comes to the market after a 54-year legacy by four generations of the Rogerson family.
It is one of the southern hemisphere’s premier equestrian training complexes, but with industry stalwart Graeme Rogerson retiring, and as the city boundary has effectively caught up with the once very-rural landholding, agents are calling this a once-in-a-generation chance to get a foothold in Hamilton’s development market.
A comprehensive land use change process is underway to enable substantial redevelopment of the land, part of which currently lies within the neighbouring Waipā District Council’s boundary.
Start your property search
Comprising 43.15 hectares held in several titles, the level site is extremely well-drained and aside from the physical improvements, including an equestrian track, stable facilities, and fenced paddocks, is essentially a blank canvas with multiple road frontages.
The land use change process is being instigated by a consortium of land owners with the support of Hamilton City Council and the Waikato Regional Council as part of its Future Proof Strategy, a 30-year growth management implementation plan for the region.
Under proposed plan changes, it is understood a residential and/or light industrial project of scale could be undertaken across the site, supported by significant local and central government investment in enabling infrastructure to cater to Hamilton’s ongoing evolution.
David Cashmore and Alex ten Hove, Bayleys Hamilton, and Gerald Rundle, Bayleys Auckland Central are marketing the property on behalf of vendors Rogerson Farms Limited, via an expressions of interest process closing Tuesday 26th November.
Cashmore says the land borders a medium density residential area and as far as development sites go, this one has location firmly on its side with proximity to schools, transport and employment areas.
“Other potential sites of any scale tend to be on the real outskirts of the city whereas this one is close to the CBD, public transport nodes, major arterial roading routes, and other essential amenities.
“The location is unparalleled in the current market, particularly when you look at the connectivity advantages that the proposed Southern Links project will bring.
“Southern Links has been identified as one of the Roads of National Significance and will connect southern areas of the city to the wider Hamilton and Waikato roading network, and the Auckland/Waikato expressway.”
“Dubbed ‘The City of the Future’, Hamilton is the country’s fastest growing city, recently overtaking Tauranga for this honour, and this property is pivotally-positioned to benefit from identified future growth mechanisms.
“Hamilton undeniably needs more residential development, across typologies and price bands, particularly in the more affordable bracket of the market. Likewise, the city needs more light industrial capacity with the success of precincts like Te Rapa, Horotiu, Ruakura, Titanium Park evidence that if you build it, they will come.”
Stride Property has plans for a commercial, industrial and logistics hub in Wickham Street, to the east of the Rogerson land, and Bayleys recently sold a residentially-zoned landholding in Peacockes Road, around 11km to the southeast.
Bayleys director of corporate projects and development land sales, Gerald Rundle says Hamilton is short of development sites with scale and landholdings that do come on the market are attracting interest from both within, and outside, the region.
“Auckland and offshore development entities are looking to leverage the locational advantages that Hamilton offers within the broader golden triangle economic zone, and the Waikato’s much-improved connectivity with Auckland,” he says.
“This land has already been earmarked for a change of use so would suit a well-capitalised developer that can take a long-term view of the potential that could be unlocked once zoning changes have occurred.”
Rundle says close to 150 projects nationwide have been scheduled for fast-tracking through the government's new Fast-track Approvals Bill (yet to be passed into law), with a good number of these being projects in the Waikato.
“There will be further tranches ahead once the bill is enacted, and projects that clearly have capacity to facilitate jobs and economic growth, will be prioritised.”
Cashmore says a developer is the likely purchaser, however, there could be a specialist equestrian operator that could utilise the existing facility, or the land could revert to grazing to give a new owner some holding income while the zone change process proceeds.
- Supplied by Bayleys
