Residential development block offers buyers chance to help shape city's future
Aan expansive greenfield site has gone up for sale in fast-growing Hamilton's newest suburb ripe for a large residential subdivision and housing development.
The nearly 38 hectares of gently rolling development land on the city’s southern edge sits within the strategic growth precinct of Peacocke – the sole hub identified by city planners to accommodate population growth to the south of Hamilton city.
Creation of the new suburb of Peacocke is supported by huge central and local government investment in infrastructure such as parks, water, wastewater and stormwater networks, as well as main roads and a new Waikato River bridge linking to the city.
A district plan change introduced by Hamilton City Council has unlocked the previously rural/ lifestyle area for the development of mediumdensity housing.
The property now for sale on Peacockes Road offers a mix of scale and gently rolling, elevated land with views of the city and Hakarimata Range, that is considered ideal for residential development. Owned by the current owners for the past 30 years, the freehold landholding at 632A Peacockes Road, Hamilton, is being offered for sale through David Cashmore and Aaron Paterson of Bayleys Hamilton.
The land will be sold by deadline private treaty closing on Tuesday 18 June, unless it is sold prior.
The site for sale encompasses some 37.8 hectares of bare land.
Cashmore said the Peacocke location placed it in one of Hamilton’s largest greenfield areas, and the third to be developed after Rototuna and Rotokauri, with development of the area now well underway.
“Positioned within the only growth cell to the south of Hamilton City, this is a rare opportunity to acquire and develop a highly attractive residentially zoned site in a uniquely strategic location.
“Underpinned by enormous public investment in supporting infrastructure, Peacocke will ultimately provide a high-quality urban environment accommodating Hamilton’s ongoing expansion.
“The Peacockes Road development block represents an exciting platform for a new owner to leverage the expanding local and regional economy into the future,” said Cashmore.
Paterson said the project to develop a new suburb at Peacocke was kick-started with a $290 million injection from the Government’s Housing Infrastructure Fund.
“This paved the way for construction of Hamilton’s newest bridge over the Waikato River, along with the Southern Links transport project and supporting infrastructure.
“Together these will integrate and connect Peacocke with the rest of Hamilton, assuring future residents of easy access to the abundant amenities and economic benefits of the city,” said Paterson.
Cashmore said the substantial subdivision and development possibilities at the Peacockes Road site, and the wider Peacocke project, were underpinned by the city’s dynamic population growth.
“Now recognised as New Zealand’s fastest growing metropolitan centre, Hamilton’s population is expected to swell by more than 50,000 people by 2035, creating the need for new neighbourhoods and communities and some 18,000 new homes.
“New owners of the development block for sale on Peacockes Road will have the chance to help shape a bigger and better city for future Hamiltonians,” Cashmore said.