Consented Turangi Townhouse Development Up For Tender
“It will be one of the largest residential developments for the southern end of Lake Taupo, and most importantly, it’s ready to go,” says Wai Johnson, franchise owner of Century 21 Premier (Turangi).
Not only is the scale of the project highly unusual for the Turangi area but consents are already in place for a developer to create something special in ‘The Trout Fishing Capital Of The World’.
The over 1.5-hectare site at 14-24 Turanga Place is up for tender. Resource consent has been granted for 51 modest entry level terraced houses, eight garages, and a pavilion. In fact, building consent has been granted for five units, with their slabs completed and certified, and a local master builder available for construction.
Well located on a quiet loop road at the Tokaanu Road end of Turangi township, residents will have ready access to the hot pools, Kuratau, and of course Mt Ruapehu.
Dubbed Alpine Gateway, Ms Johnson says the project is a timely and critical one for Turangi.
With the local market incredibly buoyant, demand well and truly outstrips supply. Residential listings are scarce – down 37.1% on 2019 levels - with buyer enquiry increasing daily.
Fifty-year-old ‘hydro houses’ that were selling for less than $200,000 five years ago are now in many cases cracking $400,000.
“Turangi has effectively run out of freehold developable land. Section prices have more than doubled and there are no new-builds on the market. The fact that is a sizable piece of bare land with a resource consent in place for multiple townhouses is really unique and exciting for Turangi,” says Ms Johnson.
She says Turanga Place will appeal to developers keen to spy opportunities to supply affordable townhouses, where there’s significant demand, and good margin to be made.
What’s more, the 3,000-person town, and surrounding area, will only get more popular when international tourism returns.
Turangi is known for the nearby skiing, hiking, mountain biking, whitewater rafting, and boating – helped by its proximity to the lake, mountain, and of course the famous Tongariro River running right past. The new Sky Waka gondola up Whakapapa is also proving a popular visitor attraction.
Century 21 Premier says Taupo’s now expensive prices have meant, many permanent residents and holidaymakers are opting for Turangi instead.
Adding to its attraction is the area’s locality. With the Hamilton bypass soon to open and Transmission Gully under construction, the Central North Island is set to get even closer to Auckland and Wellington.
Marketed by Century 21’s leading real estate agent for the southern lake area, Patrick Barry, tenders close for 14-24 Turanga Place on 20 August.
Those interested in an incredibly strong local real estate market, with the potential to make significant gains are encouraged to contact Century 21 Premier. Further information includes some well canvassed development options for purchasers to consider.
“This listing is an absolute credit to the local Century 21 team. They have secured the confidence of the vendor to market an opportunity that Turangi won’t see again for some time - if at all,” says Derryn Mayne, Owner of Century 21 New Zealand
“Century 21’s Turangi team has a great connect with locals and the business community. They have achieved some wonderful results for buyers and sellers alike in recent years. Turanga Place will do very well,” says Ms Mayne.