Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Pegasus acquired by Todd Property Group

4 December 2012

Pegasus acquired by Todd Property Group

Todd Property Group has purchased the Pegasus town development, 25 kilometres north of Christchurch in the Waimakariri district.

The town is built around a 14-hectare lake and adjoins the 18-hole Pegasus Golf and Sports Club. Its environmentally sensitive design includes 100 hectares of wetlands crossed by boardwalks, trails and waterways.

“Todd Property Group is pleased to have a stake in the development of the Canterbury region. We recognise the need for quality residential housing options in and around Christchurch and expect there will be strong demand for new homes in Pegasus,” says Todd Property Group Managing Director Evan Davies.

“The Pegasus development is a highly attractive offering close to the city, which presents residents with a unique lifestyle in a truly desirable setting.”

The land was unaffected by the recent earthquakes and the requirement for housing in the region is high with people looking to move in from red-zoned homes and other areas around Christchurch.

The development stretches to Pegasus Bay and when completed it will house 5,000-7,000 people in approximately 1,700 dwellings. All civil infrastructure for the area has been completed.

More than 600 people are already living in the township with 420 houses either completed, under construction or in the consenting phase. The town is expected to provide job opportunities for 1,400 people and many of the town's key features are being established in the early stages of the development to ensure Pegasus grows as a fully functioning community.

Major earthworks and site contouring began in mid-2006, with the first residents having moved into the town in September 2008. The full development is expected to be completed in 2015.

The acquisition is Todd Property Group’s only current land holding in the South Island and represents confidence in the strength of the residential market in Christchurch.

“Todd Property Group specialises in producing quality master-planned developments that house strong and thriving communities. We look forward to working with our building partners to bring new options to market,” says Mr Davies.

“Pegasus is one of the most appealing residential developments in the country and we think people will be proud to call it home.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news