An extensive grazing block, with a consented 22 lot subdivision, has hit the market for sale just as the mood of the rural sector is brightening.
The 98ha (more or less) functional farm park at 3629 State Highway 2 and Coxhead Road is located in the established farming region of Hauraki, where tourism and steady population growth is attracting new investment across the district.
Bayleys Country specialist Karl Davis says the property provides a multi-dimensional opportunity in a growth region, with provision for 22 unit titles spread across three stages (in total) – four already having been sold with homes completed – offering significant future development potential options.
“Positive results at recent Global Dairy Trade auctions have contributed to a more buoyant mood across New Zealand’s rural sector, with a higher level of interest in rural properties, particularly dairy and grazing.
“At the same time, greater economic certainty and clarity on the next government have contributed to an immediate upswing for the residential property market, helping purchasers to feel more decisive as we head to year-end.
“This optimism belies confidence in future development prospects and immediate occupation options for the subject property, located in a growth area proximate to New Zealand’s economic engine room, the ‘Golden Triangle’.”
Mr Davis is marketing the property for sale by tender with colleague Lee Carter, closing at 3:00 pm on Friday, 10th November 2023 (unless sold prior).
Comprising a rolling contour with commanding views from an elevated ridgeline, the property also features mature trees, a beautiful pond, and an established pasture dissected by a meandering stream and central race system
Improvements include a four bedroom homestead, a sleepout with an attached double garage, and supplementary farm outbuildings, comprising a woolshed, utility shed, two haybarns and large stockyards with a loading ramp.
Bayleys Country specialist Lee Carter says the 170sq m (more or less) homestead is ideal for easy rural living, with a modern open-plan configuration and an east-facing aspect warmed by the morning sun.
“Clad in solid Huntly brick, the attractive home features efficient heat pumps, reliable water supply from an onsite bore, and a reasonably new roof, installed in 2008.
“The retiring sellers have had the farm operative as an established grazing block, with circa 20 paddocks running about 180 dairy grazers on nutrient-rich Mangatarata loam soil.
“Whilst the property presents an immediate opportunity for grazing, our future-focused owners have captured value by undertaking subdivision of the subject property, with potential for another 18 unit titled lots to be sold by a new purchaser down the track.
“This would complete the Coxhead Road Farm Park vision, where some of the more challenging aspects of planning and development have been completed, providing the new purchaser with a shovel-ready opportunity to leverage the region’s growth potential.
“Nearly half of New Zealand’s population live within an hour from the subject property, which retains meaningful halo benefits as buyers move further outwards from built-up areas.
“Equally attractive are the elevated points of the property, which gain panoramic views of the Thames Valley and Hauraki Gulf, increasing the value proposition for a high-end lifestyle development.
“Nearby amenities, including the Hauraki Gulf Club, four cafes and one of New Zealand’s best schools – Hauraki Plains College – continue to draw Kiwis here as the region’s reputation as a preferable place to live grows.
“Significant growth in the frequency of people moving to the area has increased competition for a limited supply of residential properties, with development expected to be extremely well-received by a burgeoning community.
“Completing the Coxhead Road Farm Park would deliver vital housing supply and an opportunity for the new owner to create a lasting legacy and most efficient use for the block of prime rural property,” he says.