Subdivision development opportunity

A substantial property near Coromandel township is being offered for sale and it’s sure to attract plenty of attention.

The 9.7 hectare block at 30 Whangapoua Road is gently sloping, residential zoned land that is currently in 4 existing Certificates of Title, however it has also been approved as a 35 lot subdivision offering very desirable low density residential/lifestyle lots that will appeal to both locals and holiday makers alike. The proposed section sizes range from 1180 square metres up to 6749 square metres meaning there will be a size and price point to suit a wide variety of buyers. The first stage, made up of 11 lots, can be immediately developed from existing services, meaning any new owner can hit the ground running on this development opportunity. An optional historic house (circa 1900) can be included and could be renovated, sold or used as a site office. Agent Ian Kemp of Harcourts Coromandel describes this as a very rare chance to landbank, invest or develop a substantial property with Resource Consents for a subdivision already granted and much due diligence completed and available to purchasers. Coromandel has long been recognised as one of the jewels of the North Island. It remains a charming, unspoiled coastal town offering good facilities for families and a sense of community. Development plans for the town include a new deep water pier for fast ferry and marine tourism. It is currently just a two hour fast ferry ride down the `blue highway’ from Auckland. Coromandel’s temperate semitropical climate makes it a popular spot with tourists all year round and it is fast becoming a `must visit’ vacation town. Local mussel farms produce tonnes of green lipped mussels and these attract a huge number of fish species just waiting to be caught – especially snapper. Coromandel’s reputation as the ‘Snapper Fishing Capital of New Zealand’ sees big numbers of fisherfolk coming to the area as charter passengers or with private boats, and many fall in love with both the town and the fishing, take the opportunity to purchase land and build the big bach/boatshed, this creating a shortage of good sized sections with plenty of room for the boats/cars/ tents and friends. Ian Kemp says the property market in Coromandel is currently very strong and supply is limited so a development like this one, offering 35 larger lots, is likely to be in big demand and expressions of interest in the sections is already very strong.