Kapiti development land offers 28-ha blank canvas
A more than 28-hectare parcel of land, on the Kāpiti Coast, zoned for commercial and residential development is on the market.
The land at 77 and 109 Kāpiti Rd, Paraparaumu is zoned Metropolitan Centre, meaning a mix of retail, industrial, and residential up to a height of 12 metres is permitted, giving the buyer the freedom to plan use of the section to best suit their investment aspirations.
The sections 53km north of Wellington have a combined total of 28ha (17.6ha and 10.4ha).
They are being sold with vacant possession giving investors a blank canvas to develop, said JLL sales and leasing director Gary Hansen.
Hansen said the location of the sites made it an appealing proposition for large-scale investors looking to build a central, strategic hub in a growing region.
Following the opening of Transmission Gully connecting it to central Wellington, the Kāpiti region is expecting up to 40% growth over the next 20 years, he said.
‘‘The position of these two sites, just a short distance from Coastlands Shopping Precinct, the Kāpiti railway station, and adjacent to State Highway 1 and the Kāpiti Rd on-ramp through to Wellington via the now-open Transmission Gully, places them in proximity to essential services and transport links – desirable for future occupiers,’’ he said.
‘‘Intelligent development will open the door to both residential and commercial owners and occupiers seeking convenience and lifestyle. Being only 1 minute from Paraparaumu Beach and the local cafes and restaurants is the icing on the cake.’’
Combined with the strategic location, JLL sales and leasing broker Peter Heald said the mostly flat land and zoning would appeal to developers.
‘‘The enormous land area of over 28ha comprises mostly gentle contour and sand dunes, with a percentage of low-lying land,’’ said Heald.
‘‘This makes it accessible for initial earthworks before developing into the residential, commercial, or combination precinct that the astute buyer sees as the most intelligent use of the package.’’
Zoned to develop a precinct that caters to the forecast population boom, and strategically located near transport links to the Wellington CBD are factors that make the sites a unique investment opportunity, he said.