New sub­di­vi­sions a ‘risk’


A prop­erty de­vel­oper is tak­ing a ‘‘huge risk’’ cre­at­ing a new sub­di­vi­sion in Geral­dine, a real­tor says, but she thinks it will pay off.

Straw­berry Place, off Tal­bot St, is in stage 3 of the de­vel­op­ment with 10 lots for sale. All four stage 1 houses have been built.

Nine lots sold in stage 2, with one still avail­able and all await­ing ti­tles. There are 41 lots in to­tal.

L J Hooker Geral­dine fran­chise owner Au­dre Ram­say said the land was for­merly the home of the McKin­nons Straw­berry Farm be­fore it was sold in 2005.

An ex­ist­ing ma­ture oak tree on the north west of the site had gained pro­tec­tion sta­tus and some of the shel­ter belts would re­main, re­tain­ing an el­e­ment of its his­tory.

‘‘Prop­erty de­vel­op­ers take a huge risk. It costs so much to get the road­ing, sew­er­age and wa­ter com­pleted.’’

How­ever, there had been good in­ter­est in the sub­di­vi­sion, she said. The lat­est lots for sale ranged in size from 400 square me­tres to 820 sqm.

Prop­erty de­vel­oper Eddy Schenk said there was quite a bit of in­ter­est in the sub­di­vi­sion.

He em­i­grated from his na­tive Ger­many in 2000. ‘‘New Zealand is a nice coun­try to live. It’s a par­adise.’’

Stage 4 of the de­vel­op­ment is de­pen­dent on the sec­tions sell­ing so he could not pre­dict a com­ple­tion date.

‘‘It has been quite chal­leng­ing ... I am look­ing for­ward to it.’’

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