Thames farmland with new-home potential for sale
A substantial farm block overlooking an 18-hole golf course on the outskirts of Thames, identified for potential large-scale residential property development, has been placed on the market.
The approximately 188ha farm is situated on the Coromandel Peninsula town’s southeastern boundary. The northern portion of the existing dairy unit sits alongside Thames Golf Club, while the property’s western boundary has an extensive road frontage onto a main arterial route to the Hauraki Plains.
The land at 9528 Paeroa Kopu Rd sits between various residential, lifestyle and commercial zonings, and is currently zoned for rural use under the Thames-Coromandel District Council plan. However, there is an existing council consent in place permitting the two-staged development of the golf course boundary land into nine large lifestyle-sized residential sections.
The council has also identified it should be rezoned for future medium-density housing under its long-term Thames and Surrounds Spatial Plan to sustain the area’s growing population and to address the current shortage of new-build houses in the area.
The property is being jointly marketed for sale by tender through Bayleys Thames and Bayleys Silverdale Commercial, with the tender closing on July 28.
Salespeople Chris Bayley, Ben Clare and Graeme Perigo said it was rare to find a consented development of this size in the Hauraki Plains, with the potential to create even more sections at scale in the future.
“The property’s topography features a slightly elevated ridgeline running through the middle of the location — overlooking the flats below on one side and the gently sloping contour bordering the golf course on the other,” said Clare. “Within the upper portion of the farm are several valleys of mature trees, which add another dimension to the potential for creating lifestyle block sections.
“On the lower flat land portion of the farm, there is already an extensive internal network of partially metaled stock tracks efficiently linking the existing paddocks with the centrally-located milking shed. These could form the ready-made basis of any future roading connectivity within the residential overlay.”
Perigo said it was highly encouraging that the council’s spatial plan had clearly identified the need for more housing at scale in and around Thames and had simultaneously come up with a solution.
“With consent already in place for the creation of nine lifestyle blocks on the northern portion of property, there is the potential to undertake a staged development of the greater farm over an extended time frame to deliver a long-term cash flow. Of course, there is also the option of developing the medium-density portion of the farm simultaneously over a much shorter timeframe,” he said.