Peacocke land for sale

The proposed heart of Hamilton’s next suburb is for sale.

Development in the southwest area known as Peacocke hasn’t been formally signed off by Hamilton City Council but the signs are pointing that way.

It was included in the draft long-term plan and central government has backed it with cash – including a $290.4 million interestfree loan (using this amount because it was adjusted after extra

$18m from NZTA for ring road). Now a 5.2-hectare block of land earmarked to be part of Peacocke’s town centre is on the market.

The land is on the western side of Peacocke’s Road, about 7.5km from downtown Hamilton, and is valued at more than $10m.

Jim Johnson has owned the land for 40 years and used to farm it. He moved to the Waikato after years as a businessman in Wellington, and he and his wife settled in Peacocke.

‘‘We lived just across the road [from the land we’re selling] in a lifestyle block. The land came up for sale and I said to my wife at the time ‘Well, I could go farming. I’ve never been a farmer, but it can’t be too difficult’,’’ Johnson said.

So they bought the block in

1978, farmed dairy beef on it, and Johnson loved it.

‘‘It was lovely land and it was a joy to spend 10 years – especially after Wellington: you retire from business, and it was quite a pleasure.’’

Johnson has now retired to Tauranga and the town centre land – owned by his family trust – is the last bit of the farm block left to sell.

It’s hard to know what someone will offer for it, he said, but the Peacocke development is ‘‘well on the way’’ now, and supermarkets will be keen to get into a new area.

‘‘This suburb is really quite huge. Ultimately, all the land goes right south to the junction of the airport road, there. To get an opportunity like this is very seldom.’’

An agent behind the sale agrees.

‘‘Commercial-zoned land in a new suburb makes up a small per centage of the overall land size and is keenly sought after,’’ JLL director of commercial sales and investments John Binning said.

The sale made several city councillors think there was growing confidence that the Peacocke development would happen, and soon.

‘‘There’s a little bit of water to pass under the bridge – not that there’s a bridge [to Peacocke] yet,’’ councillor Paula Southgate said, ‘‘to make sure that we sign it off at the pace and scale presented under the draft long-term plan.’’

She was surprised to see the land for sale but doesn’t expect the city council to pull its support for the area.

However, there could be adjustments to ‘‘how far and fast we can go on the growth with the money and resources that we’ve got’’.

Cr Geoff Taylor believes Peacocke is the best option for growth, for reasons including its size and the Government support.

Cr Rob Pascoe agrees that central government has given carrots which show it’s keen on the area being developed, but said the city will carry the risk.

The answers won’t necessarily stop him supporting Peacocke, he said, but they need to be in the open.

It would probably be five to 10 years before the new owner could do something with the land, Mayor Andrew King said.

Expressions of interest in the property are due by 4pm, Tuesday, March 27.