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Unrivalled Tauranga Residential Development Opportunity

According to the comprehensive growth management strategy being undertaken by Tauranga City Council, record population growth in Tauranga is forecast to continue, with a deficit of supply over demand of circa-5,000 homes in the region by 2031.

Developers are on the hunt for strategically-located land with scale in the Bay of Plenty of region, with the largest demand being for land close to Tauranga city, and supported by a high level of amenity in the immediate area.

Tauriko West has been an earmarked growth node for residential housing for some time and the broader area has undergone significant development in recent years with the establishment of the regional shopping centre Tauranga Crossing, Tauriko Business Estate and The Lakes residential subdivision.

As such, a 95-hectare greenfield development site on State Highway 29, Tauriko West which has just been placed on the open market for sale, is expected to catch the attention of large-scale developers.

The dairying land just minutes from Tauranga’s CBD is known as Ferncliffe Farm, and has been in the same family ownership since 1927 with its fourth generation now on the land.

Held in four titles, this extensive parcel of land is one of three key blocks in private ownership forming part of an identified 329-hectare Tauriko West Urban Growth Area by the Tauranga City Council. The other two large main blocks are owned by developers.

It is thought the subject greenfield landholding could support up to 900-1,000 new residential homes, subject to consent and necessary District Plan changes.

The land is being marketed by Mark Walton and Simon Maxwell of Bayleys Tauranga, along with Ryan Johnson and Mike Bayley of Bayleys Auckland Central office.

Initial Expressions of Interest close on Thursday, 10th June with Bayleys Tauranga.

Bayleys national director commercial and industrial, Ryan Johnson said nationwide, changes to council district plans and the release last year of a National Policy Statement on Urban Development, are encouraging higher density residential developments and master-planned residential communities.

“Throughout New Zealand, Bayleys’ teams are working closely with seasoned developers who are looking to acquire large tracts of land suitable for developments that could help meet the widespread shortage of housing around the country,” he said.

“Given its pivotal position in the country’s economic Golden Triangle, the pressure is on Tauranga to absorb the fast-growing population which shows no sign of easing up on the back of a strong local economy in the Bay of Plenty.

“This development land in Tauriko has the potential to be a legacy development for a new owner.”

The subject land is currently zoned predominantly Rural in the Tauranga City Plan, but is subject to a Plan Change as part of the proposed new Tauriko West Urban Growth Area.

Maxwell said the landholding is of mixed contour with rolling land, several elevated plateaus, some steeper sidlings, gullies and lower lying wetlands and also has approximately 1km of frontage to Wairoa River.

“Ferncliffe Farm has fundamentals that set it apart in the market as a potential residential subdivision given the three plateaus suitable for housing, extensive river boundary, multi-faceted views and a mix of contour which makes for a more interesting and diverse development,” he said.

“The opportunity to enhance key natural features with extensive landscaping on the balance of the land not used for residential development will enable public reserves, walkways, cycleways, playgrounds and other leisure amenities to be created adding to the appeal and versatility of the location.”

Walton said Tauriko West is just one of the large-scale urban development areas proposed to support the wider region’s growth, and is touted as delivering a new community with an estimated 3,000 – 4,000 new homes from 2024/25.

“This block with scale and diversity means a well-resourced new owner could be part of an exciting phase of expansion for Tauriko to meet strong anticipated residential demand for the next five to 10 years, as supported by independent local and central government data.

“Along with a strong economy, the region offers multiple lifestyle benefits including climate, beaches and a central, easily-accessed location which underpins the residential market where demand continues to outpace supply at a great rate.”

Waka Kotahi NZ Transport Agency and Tauranga City Council are working together to develop the long-term transport network to support urban growth at Tauriko West.

© Scoop Media

 
 
 
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