Halswell continues to expand as a large swathe of development land goes on the market
Christchurch’s metropolitan urban limits continue to be stretched – with a substantial 20 hectare swathe of residential zoned land coming on the market for sale... encompassing plans for 208 new sections and homes.
The new development – currently named Copper Ridge – sits on the corner of Halswell Junction Road and Wigram Road south-west of the city, and is zoned Living G. The land is located very near the Southern Motorway allowing easy access to the city.
Some eight hectares of the land has already been consented for residential development – featuring 80 medium density homes on sections ranging in size from 510-755 square metres.
The land and consented development plans are being marketed for sale by Bayleys Canterbury. Salespeople Chris Jones and Steve Ellis said the development encompassed eight individual adjoining titles which had been combined into one large-scale subdivision plan.
“With planning consent already granted for phase one of the development, the first titles could be available for building during 2015, with the remainder of the land coming on stream over the ensuing 18 months.
“The Christchurch City boundaries continue to expand as new, well located parcels of land come to the market however, landholdings of this scale are becoming few and far between,” he said.
Mr Jones said it was hard to estimate the properties’ value.
“Individual developers have their own build-cost structures unique to their business, as well as their own operating margins. As those vary from one potential buyer to the next, it’s impossible to forecast on their behalf what a likely sale price will be for Copper Ridge,” he said.
“Also, any incoming developers know that they can sell the sections at present which gives them confidence to commit to a long-term strategy.”
Multiple buildings are currently on the land – including five homes and some significant commercial buildings. Mr Jones said the potential seven tenancies would provide a six-figure holding income while the remaining development consents were acquired.”
He said the continuing re-urbanisation of Christchurch following the ‘quake had changed that landscape forever - with Halswell literally booming.
“Other quality developments in the area are selling very well and with significant new infrastructure, including a new primary school, coming to the area Halswell is a highly desirable area to live,” he said.
Offers for the Halswell Junction site close on October 22.