A prime residential development opportunity with approvals in place has hit the market in the ‘jewel of the Hawke’s Bay’, ready for strategic investors and developers to seize the momentum of an accelerating market, Bayleys salespeople say.

Bayleys Hawke’s Bay Investment, Commercial and Projects director Kerry Geange is marketing the 2.027ha (more or less) subdivision at 55 Brookvale Road for sale by auction, scheduled at 12:00 pm on Friday 13 December (unless sold prior), alongside colleague Tony Knaggs.

“Council estimates more than 1,000 new greenfield sites are required for development to meet growth projections in the local population over the next 20 years. As one of the last remaining large-scale development sites in a tightly held area, the property is both brimming with potential and a rarity on the market.

“The vendor has undertaken extensive, time-intensive work to secure comprehensive resource consents, ensuring that this fully consented 35-dwelling development benefits from a streamlined pathway to construction.

“Dwelling plans that carefully integrate with local character span a range of designs and styles, including multi-level detached homes, terrace-style residences, duplex structures and bespoke single-level homes. This mix of typologies reflects a dynamic buyer pool in Havelock North, which includes young professionals, families and retirees.”

Geange says securing a green light for residential development works is a valuable aspect of the subject property, particularly given current challenges and time delays in the consenting system. “By undertaking extensive preparatory work to ensure the project is fully equipped to meet the area’s growing housing needs, the vendor has improved the value proposition immensely. The certainty of approval to proceed presents a valuable opportunity for investors and developers keyed into local growth dynamics.

A projected increase in the ageing population, particularly residents over 65, drives demand for retirement communities and smaller, centrally located housing types. Bayleys Havelock North Residential and Lifestyle salesperson Tony Knaggs says that developers who secure this site have the flexibility to cater to this demographic's needs while also appealing to other buyer segments eager to live in an esteemed community.

“Located on the edge of Havelock North Village, the property benefits from a highly convenient location, which offers easy access to local amenities, recreational spaces and nearby transportation and key arterial routes. With its picturesque charm and community-oriented feel, Havelock North consistently draws residents eager to join its vibrant lifestyle, helping to sustain property demand and value over time,” he says.

Beyond residential options, approved consents also protect the integrity of an established garden centre already on-site. Plans for a new café and car parking are poised to add a valuable amenity dimension to the development.

“Orderings Garden Centre, a 24-year staple of the community, will remain on-site with enhanced facilities, including a new café. This elevates the amenity value of the development and ensures a steady flow of visitors, enriching the neighbourhood’s character.”

Geange says that despite its current zoning within the Plains Production zone, the vendor’s hard work navigating the approval process means the development is uniquely positioned for a quick transition to construction. “This comprehensive planning effort offers a distinct advantage in bringing quality housing to a market primed for growth.

“With approvals secured and demand for residential property at unprecedented levels, this is a rare opportunity for developers to create a landmark community in one of the region’s most desirable suburbs. Interested parties are encouraged to act quickly to secure this strategic offering.”

Click here for more information on the listing.