Consented development site for sale in Levin
A 1.1ha site with consents in place for a lifestyle village at the Lake Horowhenua end of Queen St, the main east/west arterial route through Levin, is up for tender.
Resource consent and associated land use consents were obtained in July for the village to comprise 35 residential units, a community centre, plus an internal roading network within the development at 183-185 Queen St.
Stephen Lange, of Bayleys Wellington, says the owner of the land got the consent process sorted out and has handed the baton on to a developer to complete the project.
“The opportunity now exists for builders and developers to leverage off this preparatory work to create a new community in Levin,” says Lange.
“It has been identified that the best and highest use for this residentialzoned land would be for an integrated development. However, within this use there are ownership model options.
“A new owner could build and sell the unit-titled units or hold them under a Licence to Occupy ownership model for long-term revenue and tax advantages.”
Lange says concept plans are available offering two different floor layouts in three configurations from 95sq m to 104sq m, with a community hall of 147sq m.
Under the existing plans, the 35 units with single garages are grouped together into double and triple configurations around the perimeter of the property.
Paved and landscaped patio/ terraces are shown at the rear of each unit, although these areas will be in common ownership and do not form part of the proposed unit titles
A central ‘island’ contains the community hall with kitchen and toilet facilities, plus 11 designated car parks and communal open space. The use of the hall, with a capacity of about 55 people, will be managed by the body corporate and will not be leased out to non-residents.
Landscaping plans, including a soil report, are also available for the generally flat, cleared site. The property comprises two parcels of land with a combined road frontage of about 42m to Queen St before widening to around 192m at the southern boundary.
The land is flanked by new residential properties on one side and the council-owned 17ha Kowhai Reserve — which includes protected woodlands — on the other.
“This proposed development is ready for a developer and, making it even more attractive, is that there are no reserve contributions required by council,” said Lange.
Tenders close at 4pm on Wednesday, December 4. The property features in Bayleys’ latest Total Property portfolio magazine.
Lange says Levin has seen inquiry for residential units over the past few years on the back of a northwards drift out of Wellington.
“The local council estimates another 5300 new homes will be required by around 2040, fuelled in part by roading projects due to be completed next year between Wellington and Levin, which will shave commute times,” he says.
“Recent data from the Real Estate Institute of New Zealand shows the median sale price for the wider Horowhenua area has jumped more than 60 per cent in the past three years.
“From June 2018 to June 2019, the average house price in the district increased by close to 20 per cent.”