Consented Turangi townhouse development up for tender
Consents are in place for a developer to create something special in Turangi, nicknamed ‘The Trout Fishing Capital of the World’.
The 1.5ha site at 14-24 Turanga Place is up for tender. Resource consent has been granted for 51 modest entry-level terraced houses, eight garages, and a pavilion. Building consent has been granted for five units, with their slabs completed and certified and a local master builder available for construction.
“It will be one of the largest residential developments for the southern end of Lake Taupo, and most importantly, it’s ready to go,” says Wai Johnson, franchise owner of Century 21 Premier (Turangi).
Dubbed Alpine Gateway, Johnson says the project is timely and critical for Turangi.
With the local market incredibly buoyant, demand outstrips supply. Residential listings are scarce – down 37.1 per cent on 2019 levels — with buyer inquiry increasing daily.
“Turangi has effectively run out of freehold developable land. Section prices have more than doubled and there are no new-builds on the market. The fact that is a sizable piece of bare land with a resource consent in place for multiple townhouses is really unique and exciting for Turangi,” says Johnson.
She says Turanga Place will appeal to developers keen to spy opportunities to supply affordable townhouses, where there’s significant demand, and good margin to be made.
Johnson says Taupo’s now expensive prices have meant many permanent residents and holidaymakers are opting for Turangi instead.
The town of 3000 is known for nearby skiing, hiking, mountain biking, whitewater rafting and boating, helped by its proximity to the lake, mountain and Tongariro River.
Patrick Barry of Century 21 is marketing the opportunity, with tenders closing on 20 August.