Whangarei Subdivision Attracts Strong Interest

A new up market residential subdivision, Pompallier Estate, is receiving very strong advance interest. Situated at Maunu, one of Whangarei's most prestigious suburbs on the southwest fringe of the former city boundary, the subdivision is only 5km from the CBD.

Pompallier Estate is a four stage residential development creating a total of 86 lots. Due to strong demand, the first two stages of 53 sections will be built and marketed immediately. Earthworks commenced on 3 October and we expect completion in February 2006, weather permitting," says Andrew Wiseman, Manager of DTZ Whangarei.

Local survey and engineering firms Reyburn and Bryant and Cook Costello have assisted DTZ New Zealand with subdivision layout, cost benefit analyses, local authority consent applications, engineering design, and tendering for construction. The construction contract has been awarded to local Whangarei firm McBreen Jenkins. L J Hooker will market Pompallier Estate as sole agent. Subdivision management is undertaken by DTZ New Zealand, acting as owner's representative.

L J Hooker currently holds a database of over 160 people who have expressed interest in purchasing a section at Pompallier Estate.

Although the new subdivision adjoins residential Whangarei on its eastern side, the locality has a definite rural flavour. Pastoral landscapes are a dominant theme. Pompallier Estate compliments an adjoining rural subdivision known as Pompallier Country Estate, which is now fully sold. Pompallier Country Estate offered larger lot sizes ranging from 0.4 hectare rural lifestyle lots to a 52 hectare farm.

Pompallier Estate zoning is a mixture of Living 1 and Living 3. Living 1 has a minimum lot size of 500sqm with Living 3 providing for less intensive land use, with a minimum lot size of 2000sqm.

2.3 hectares of mature native bush and river bank, will be protected for public enjoyment as a Council Reserve. Esplanade Reserve will provide public access along the meandering Nihotetea Stream adjoining part of the eastern boundary.

Pompallier Estate features a combination of curving roads, island roundabouts and private access ways, which are practical features contributing to an aesthetically pleasing design.

Of the initial 53 sections, 33 are situated in the Living 1 zone and range between 503sqm and 1017sqm. A further 20 lots in the Living 3 zone range between 2000 and 3228sqm and feature a more rural outlook with native bush, the adjoining stream and mature Totara trees apparent. Contour is generally flat to undulating. Attractive, surface and subsurface volcanic rock will invariably be utilised by owners for landscaping purposes. Historic stone walls are evident elsewhere on the property.

According to DTZ's Andrew Wiseman, section prices have yet to be finalised. "Comparable sections in a similar subdivision at Kamo to the northwest of Whangarei have achieved sale prices in excess of $160,000," he comments. "Larger 2000sqm lots in another more rural subdivision at Kamo have been selling in excess of $180,000, with the most recent sale achieving $195,000" Mr Wiseman said. "Substantial increase in the value of improved residential properties over the last two years has made new building increasingly attractive to the purchase of an existing home, as reflected by a record number of building consent applications made during September and October. Interest in high quality residential sections remains very strong, particularly in Maunu where availability of sections in recent years has failed to satisfy demand".

ENDS

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