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Suburban land rezoning makes building options in quake city
3 February 2012
Suburban land rezoning creates new building options in ‘quake city
A massive slice of rural residential zoned land in the Christchurch commuter town of Rolleston is on the market for sale – with the potential to increase the town’s population by 11 percent.
Located close to State Highway One on Rolleston’s residential boundary, the two blocks total more than 164 hectares.
Both blocks have their own approved subdivision plan which accommodate a combined total of 148 dwellings.
According to the latest Census, Rolleston has a population of 3822, with an average of three people per dwelling. If 148 new dwellings were developed, this would increase the population by a potential 444 people.
Rolleston has been a popular relocation for Christchurch residents who have received government payouts for their red-zoned properties, and are looking to move outside of the city.
The first block comprises 72.69 hectares of land and is currently used for pastoral farming.
The approved subdivision plan for this block details the creation of 51 sections - comprising 35 5000 square metre rural residential-zoned sections, 10 two hectare sections, and six lifestyle blocks of four hectares each.
The second block comprises 92 hectares of land, with an approved subdivision plan incorporating a total of 92 rural residential sections, and five four hectare lifestyle sections.
Both blocks have access to Rolleston town services including power, water, phone, and sewerage, with the 92 hectare block having immediate access to these.
The 72.69 hectare block is pending the Selwyn District Council sewerage line being installed in Dunns Crossing Road, but could be mitigated if a developer installed the lateral sewerage lines themselves, subject to council consent.
Both blocks are on the market for sale through Bayleys Canterbury with a deadline of March 1. Marketing the blocks are Bayleys salespeople Ruth Hodges and Tom Waldron.
Ms Hodges said the sale represented an exceptional opportunity to be part of Rolleston’s immediate and future growth.
“Rolleston has been an extremely popular choice for those choosing to relocate out of Christchurch following the earthquakes. In the past six months alone there have been a total of 146 residential sales of which 33 were residential section sales.
“The Selwyn District Council has planned a limited supply of rural residential development to be allocated over the next 29 years. The 92 hectare block represents half of this planned growth rural residential zoned land to 2016 alone,” Ms Hodges said.
“This is definitely a one-of-a-kind large scale development opportunity. Rural residential sections of this size rarely become available, and I expect there to be solid demand from buyers given the current market environment.”
Ms Hodges said the new owner could have the option to develop the land straight away, develop part of the land or land bank it for the future.
“This opportunity could suit a variety of people, such as a developer looking to build on the land straight away, an investor looking to diversify their portfolio, through to a farmer wishing to continue pastoral farming the majority of the land while subdividing one section at a time.
“Furthermore, both properties are currently leased to local farmers, so there is the option of this continuing as a holding income.”
Ms Hodges said homebuyers looking at purchasing in the Rolleston area liked the fact that they could potentially purchase a new home on a larger section in the Rolleston area for a similar amount of money that they could get an older property on a smaller section in Christchurch.
“The growth in Rolleston has also been backed by the expansion of the commercial and business areas of the town, such as the Izone Southern Business Hub, and the creation of further recreation and community facilities.”
ENDS
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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