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$130 Million Investment For Invercargill

Press release from Sunridge Estate
Wednesday 7 November 2007

$130 Million Investment For Invercargill

Affordable housing providers Mick Palmer, Michael Morel and Lesley Telfer-Morel announced plans today for 660 affordable home sites on the corner of Rockdale and Tramway Roads, in southern Invercargill.

The proposed new community, Sunridge Estate, is a major investment in Invercargill and is the most significant housing project for Invercargill since Tiwai Point was established more than 30 years ago.

Sunridge Estate will include a range of local amenities including a shopping centre, workers accommodation, retirement village, early learning childhood centre and a network of walking trails.

The first stage of release is scheduled for early January 2008, when 100 sections at Sunridge Estate will come on to the market. Construction is expected to begin in 2009. The remaining 560 sections will be released in phases as demand increases.

Prosperous Group Ltd principals Michael Morel and Lesley Telfer-Morel are working in partnership with Mick Palmer, an experienced property investor. They have engaged Opus International to bring their vision to fruition.

“Invercargill is a thriving and growing community and we’re delighted to be playing a part in further enhancing this southern hub,” said Mr Palmer.

“An industrial boom is anticipated, with oil and a number of other commercial operations being explored. Sunridge Estate will be very well positioned to offer modern and affordable housing, close to the city, and a safe community that people will want to belong to.

“We have been working closely with Invercargill City Council to deliver our affordable housing vision, and will continue to do so.”

Mr Morel said it was an exciting time for people to be relocating to Invercargill for work opportunities and to be investing.

“A 30 per cent increase in home prices over the past year makes Southland the fastest growing region in New Zealand, yet compared to any other city in the country Invercargill has the cheapest entry price for a new home,” he said.

“Land is becoming harder to come by and that’s where we see Sunridge Estate offering new homes in a desirable location.

“The beauty of starting with a ‘greenfields’ piece of land is that we’re able to create a well designed new community with good shopping facilities, beautifully landscaped streets, a dozen interconnected reserves, playgrounds and walkways.

“It’s our vision to create stylish new homes on some of the highest land in Invercargill with north-facing sections for maximum sun, double glazed, well insulated, water-tight and future-proof.”

Turn-key homes through a variety of land and home packages will be offered. The new community has been designed by Opus International to follow urban design protocols ensuring roads and greenways allow clear views of the rural landscape and the surrounding environment.

To retain local character and celebrate local iwi, traditional Maori plantings will be incorporated within the new community.

Sunridge Estate will connect with existing reserves in the area through a series of greenways, a traffic calming system has been included and a strong neighbourhood support system has been pre-arranged to enhance public safety.

Mr Morel said members of the public were encouraged to attend public consultation meetings at the Newfield Tavern on 20 November at 7pm and 24 November at 10am, or provide feedback to michael@prosperous.co.nz.

- ends -

© Scoop Media

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