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Large Lincoln Landholding Primed For Development
One of the last residentially zoned land parcels with significant scale in Lincoln has been placed on the market for sale with flexible use options expected to attract varied interest from private purchasers, development firms, and investors, Bayleys salespeople say.
The freehold 8.37-hectare (more or less) property at 555 Birchs Road is in a prime position zoned for residential development by the Selwyn District Council (SDC) with appropriate consents. The land is superbly located on the city side of Lincoln – so close to central Christchurch.
Bayleys Canterbury salesperson Chris Jones says the opportunity to yield an average of 15 households per hectare under current zoning is a productive use of the currently underutilised land, particularly given historically high population growth.
“Selwyn District, in particular Lincoln, is one of the fastest growing areas in Canterbury. It is therefore an ideal time for a developer to leverage intensification fundamentals and deliver much-needed housing in an area with a demonstrated demand history”.
“Two well-established subdivisions are sited near the property's boundaries – Barton Fields and Flemington, which have now completely sold out. Their success reflects a high degree of demand for housing locally, offering confidence in the investment for a new purchaser.”
Mr Jones is marketing the property for sale by Deadline Private Treaty with Bayleys colleague Sam Sidey, closing at 1:00 pm on Tuesday, 21st May 2024 (unless sold prior).
Predominantly flat and regularly shaped, the subject property is held neatly in one title and features an impressive dwelling on its southwestern boundary.
“The large multi-level homestead faces north for all day sun with four bedrooms, three bathrooms and a separate office/study area. It has been built to modern specifications with double glazing and an attractive country aesthetic, aided by a functional configuration,” Mr Jones says.
The Lincoln District has fast become one of the region’s most sought-after satellite areas. Significant new investments, including the Lincoln Hub—a world-leading scientific joint facility for education, research, and technology that encompasses five agricultural Crown research institutes—provide burgeoning employment opportunities and a case for continued local investment.
Mr Jones says that population projections from the SDC have identified the need to deliver more than 12,000 new homes over the next decade to keep up with current demand, placing significant pressure on the existing housing supply while providing a sensible case for intensification at the subject property.
“With land restrictions as they are, the ability to immediately put development plans in place according to the zoning provisions is a desirable attribute of 555 Birchs Road. At the same time, access to existing amenities like shops, cafes, schooling and community facilities in the Lincoln Township is an attractive draw for future residents, alongside easy commuter access to Central Christchurch.”
Bayleys Real Estate
New Zealand
Bayleys is New Zealand's largest full-service real estate company. We offer expertise in the marketing and sale of a wide range of property, including residential real estate, farms and lifestyle blocks, and commercial and industrial property. This includes tourism and business sales such as hotels and motels. We also cover the real estate markets in Fiji and other Pacific Islands.
Bayleys also provides a complete property and facilities service including property management and valuations teams focused on achieving both Owner and Tenant satisfaction.
No other real estate company can match our breadth of coverage across all market sectors throughout New Zealand.
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