Huge opportunity at Havelock North site
An expansive landholding with vast potential in the popular Hawke’s Bay town of Havelock North will hold significant appeal for developers or investors looking to secure a highprofile site with long-term upside.
174 and 176 Brookvale Rd spans
22.5265ha and is split into three freehold titles which are zoned Plains Production Zone. There is potential to adjust the boundaries of the titles for the new owner.
Due to the current occupant’s impending departure, there is potential for a short-term sale and leaseback agreement to be negotiated during the sales process.
Large-scale development sites are in short supply in the wider Hawke’s Bay region meaning this property will draw strong interest among prospective purchasers.
The property currently has buildings and facilities that provide
8796sq m of rentable floor area. The site, which offers access via Brookvale Rd, is approximately 3km east of the village near the recently developed Brookfield and Arataki residential areas.
Colliers Hawke’s Bay director Danny Blair is taking expressions of interest closing at 4pm on Thursday
3 November, unless sold prior. Blair says a site of this size and scale is a rarity on the open market and will pique the interest of a wide array of buyers.
“The current occupants have expressed their desire to move on but are open to negotiating a shortterm sale and leaseback agreement that would provide holding income for the new owner, while they strategically plan their future moves for the site,” Blair says.
“Given the sheer size of the landholding, there’s a range of options that are available to buyers who could choose to divide the property into three lifestyle blocks or potentially create a retirement living and residential development, subject to the appropriate consents.
“The contour of the site is mainly level with a gradual incline along the western boundary that has been levelled to provide a suitable platform for development.”
Hawke’s Bay continues to thrive as a popular hub that offers an attractive lifestyle and has experienced ongoing growth during the past few years.
The regional economy is underpinned by a dynamic horticulture industry that has attracted strong investor capital, while a range of key infrastructure projects continue to improve services across the region.
“Data from Stats NZ shows consistent population growth in Hawke’s Bay in recent years,” Blair says. “There has also been notable job growth with employee numbers rising for the past decade, indicating there are strong employment opportunities in the region. Further research also highlights a rise in building consents for residential developments, which have grown rapidly, peaking last year.”