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Keen Buyer Interest In Papamoa Subdivision

News Release For immediate release
August 5, 2004

Keen Buyer Interest In Milford By The Sea Subdivision At Papamoa

Tauranga homebuilder Generation Developments reports keen interest in Stage II of its 'Milford by the sea' residential housing subdivision which will be officially launched at Papamoa this weekend.

Generation Developments' director, Graham Hockly, says expressions of interest have far exceeded the 36 home-and-land packages that effectively go on the open market at the end of Longview Drive, Papamoa, at 10am on Saturday. "Judging by the interest in Stage I, which saw most of the 52 sites snapped up within the first few weeks, we expect the second stage to sell quickly," he says.

"Buyer interest reinforces Papamoa's reputation as one of New Zealand's fastest-growing residential areas. Its population is expected to exceed 30,000 within a few years. We recognised its potential long ago and, as a company, decided to invest in its future."

Hockly says 'Milford by the sea' is Generation Developments' biggest development outside Hamilton in its seven-year history and the first time it has had three show homes onsite.

"The show homes will be manned over the two days of the launch this weekend, from 10am to 4pm on both Saturday and Sunday. Prospective buyers can also view Stage I homes to get a clear idea of what they'll receive for their money."

The existing homes show the building styles homebuyers have to choose from.

Materials used are brick and plaster over brick, and a choice of over 20 house designs. The houses are larger quality homes - many of them four bedroom plus family room. Walkways and an entrance bridge are features of the new development which is within an easy stroll of one of the country's premier beaches.

Generation Developments remains confident it will ultimately market all 240 sites it has an option on over six stages at Milford by the sea, and is not buying in to talk of a 'melt down' in the housing sector.

"We've seen no evidence of this," says the company's director, Graham Hockly. "Buyer interest in our homes remains as strong as ever." Hockly attributes the popularity of Generation Developments' home-and-land packages to an astute land acquisition programme and proven home building system.

END

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