A huge block of greenfield development land sitting on the urban boundary of Whitianga has been placed on the market, with a predication that the location will redefine expansion of the area for decades to come.
Located just three streets back from Buffalo Beach on the northern side of the Coromandel Peninsula town, the 141.8ha block sits adjacent to the existing urban boundary of Whitianga running along Wells Road.
The land is currently zoned for rural use under the Thames Coromandel District Council plan.
Comprising three titles, the flat topography land neighbours a 21.69-hectare block of greenfield land.
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This is currently undergoing geotechnical surveying work before being developed into a substantial residential subdivision over the coming years.
Between Wells Road and Buffalo Beach is an already well-established residential neighbourhood of family homes.
Branded as Wells Estate, the block of land at 55 and 92 Racecourse Road is being marketed for sale by tender through Bayleys Whitianga, with offers closing on May 26.
Salesperson Josh Smith said the Wells Estate property would suit a long-term investor with the foresight, vision, and resources to master-plan development of the area over a 15-20-year period.
“We’re talking about overlaying an urban master-plan for the site which encompasses not only some level of residential intensification as a cornerstone foundation, but equally for the creation of the likes of an urban shopping precinct, pre-school and or primary/school amenities, potentially a retirement village, and of course the full gamut of community-focused commercial premises required to support the resulting expanded population,” Smith said.
“With tourism now such a major activity within Whitianga’s economic sector – involving participation in the region’s deep sea fishing, golfing, and eco-tourism ventures such as Cathedral Cove or Hot Water Beach tours.
"There is also enough space within the Wells Estate site to sustain a new premium grade four to five-star hotel of size, subject of course to council approval.
“Such a scaled long-term project for this precinct would see any new owner of Wells Estate working extremely closely with both local and national government entities to ensure the necessary multiple strands of social infrastructure services are planned for a decade out, in a seamless and strategic real estate jigsaw.
“However, the vendors are clear that they want an outright and immediate sale of the property rather than a staged settlement period spanning a number of years.”
Subject to council consents and the ultimate layout of the pending new neighbouring residential subdivision, the Wells Estate Racecourse Road precinct land being sold could potentially sustain multiple new vehicle access roads coming off State Highway 25 Whitianga Bypass, Marlin Street, Cook Drive, or Wells Place.
“Scaled residential expansion of Whitianga is already under way in other parts of the urban boundary where former farmland mirroring that in Racecourse Road has been rezoned for new residential enclaves, but certainly nothing of this scale or favourable topography so close to both the beach and town centre,” Smith said.
Thames Coromandel District Council’s 2021-2031 Long Term Plan recognises that some towns within its jurisdiction, including Whitianga, are “currently experiencing growth pressures” to support an increasing resident population.
“The council recognises that growth and development are ongoing in the district and will continue over the period of the 2021-2031 Long Term Plan.
"The council is keen to encourage new growth and development by addressing any infrastructure and zoning barriers that currently exist,” the council report notes.
Demographic statistics compiled by the council highlights that the number of dwellings becoming available for residential occupation is projected to increase across all parts of the district over the next 21 years - with an increase of around 3,580 new houses between 2018 and 2048.
Much of the projected growth in the number of houses is expected to occur in Tairua and Whitianga.
Smith said the substantial Wells Estate location would amply meet the council’s defined criteria for supporting population growth.
“The Wells Estate locale will redefine how Whitianga looks for decades to come – expanding the town’s existing urban boundary well beyond its present definition, by laying the foundations for an entirely new suburb of substance and scale.”
- Supplied by Bayleys
