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


AVJennings Preferred Partner in Major NZ Devlpmnt

AVJennings Preferred Partner in major NZ Development

Melbourne, 18 December 2007: Leading residential property developer AVJennings Ltd (ASX: AVJ), today announced that, following a tender process, it has been appointed the preferred development partner of Hobsonville Land Company (HLC) to develop and deliver the first precinct of a project at Hobsonville in New Zealand.

The HLC, a wholly owned subsidiary of Housing New Zealand Corporation, was seeking to secure a development partner to deliver the first precinct of what will be a community comprising some 3,000 residential dwellings. The first precinct will give rise to a yield of about 600 residential dwellings. The estimated end value of this first precinct (including dwellings constructed by third party builders) is NZ$300m.

The site is a prime infill site situated in the northern suburbs of Auckland. It is a former World War II airfield flanked on three sides by the upper Auckland Harbour, located well within the developed suburbs of Auckland and about 20 minutes drive from the CBD.

AVJ will participate with HLC in developing a Masterplan and development specifications for the first precinct and, subject to consents, development is due to commence in late 2008 and scheduled for completion by late 2012. AVJ is responsible for developing the land marketing it to New Zealand house builders.

Finalisation of the project delivery agreement is subject to further commercial and legal negotiations which are expected to be completed in early 2008.

AVJ will be delivering on the first precinct of the broader Hobsonville redevelopment project for which the HLC has a vision of creating a diverse and inclusive community incorporating good urban design and delivering built form to a high standard.

AVJ welcomes the opportunity to partner with HLC in what it believes will be a landmark project setting world class standards in sustainable urban development and the creation of a community for all New Zealanders.

Other significant projects that AVJ has contracted in recent months have included the 900 lot Cheltenham Park Racecourse site in South Australia, a 15,000sqm office complex at Sydney Olympic Park in New South Wales, the 880 lot former Fincorp site at Wollert in Victoria, the 255+ lot Brickworks site at Eastwood in New South Wales, the 140 lot Sandy Beach site near Coffs Harbour in New South Wales, the 598 lot site at Meridan Plains on Queensland’s Sunshine Coast, and a 230 lot site at Calamvale in suburban Brisbane, Queensland.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Commerce Commission: Cartel Conduct Now Punishable By Up To 7 Years’ Jail Time

Cartel conduct can now be punished with a term of imprisonment of up to 7 years, after the Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect today. Cartel conduct includes price fixing, market allocation and bid rigging (see ... More>>

Stats NZ: Auckland Population May Hit 2 Million In Early 2030s

Auckland’s population may rise from about 1.7 million currently to 2 million by early next decade, Stats NZ said today. “Auckland will likely have the highest average annual growth of New Zealand’s 16 regions over the next 30 years, from ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>


Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>