64 | Wharekura Estate DEVELOPMENT T T Richard Loader Affordability reflected in demand Wharekura Estate is within easy access to Mount Ruapehu’s ski fields, Lake Taupo, Tongariro National Park, and Kaimanawa Forest Park. Talk to us today, the feature profile experts Phone: 03 983 5500 waterfordpress.co.nz PROFILE YOUR PROJECT... Priced affordably, yet located in one of the most scenic locations in New Zealand, it is hardly surprising that all eighteen residential sections in the Wharekura Estate sold before civil construction had even commenced. Nestled in the small town of Turangi, just 40 minutes south of Taupo, Wharekura Estate is within easy access to Mount Ruapehu’s ski fields, Lake Taupo, Tongariro National Park, Kaimanawa Forest Park, some of the very best fly fishing in the world, and Mount Pihanga as its backdrop. With all this natural beauty and wonder at its doorstep, the development is also within easy walking distance to the town’s amenities and school. Wharekura Estate’s developer Richard Wood says delivering extremely affordable sections in a fantastic location was a key driver for the 1.5-hectare development. “The eighteen individual lots, ranged from 550sqm to 750sqm sections, with a range of prices from a very affordable $165,000 through to the last three sites that sold for $250,000. Their development bordered the back of a reserve, so we placed some of the larger sites along there to enable nice sized gardens,” says Richard. “We sold half the sections to local builders and half to private individuals and I hope that many of the sections will be built on by first home buyers and young families. “The sections may also appeal to people retiring and trading down, or those people in a fortunate position who want to build a holiday home in an extremely beautiful part of the world.” With affordability of sections in mind, one of the drawcards of the land for Richard was its flat terrain which didn’t require a lot of civil construction, with savings passed onto the buyers. “We had to create a road that has been vested to the Taupo District Council, but the biggest cost after that was the creation of some major storm water control within the vested roading and footpaths, which has proven to work very well in recent times.” Civil construction was completed in November last year by Camex Civil, with title for the individual sections issued in January. “Wharekura Estate brings huge excitement to me as the developer and it will be really exciting to see the first homeowners moving into their new home. “It was the first development in Turangi for some time and I hope it encourages others with larger land holdings in Turangi to do the same thing. Our development has proven there is a big gap in the market to be filled. “We could have sold those eighteen sections over and over again. G.J. Gardner Homes bought four of the sections for their house and land packages. I hope that many of the sections will be built on by first home buyers and young families. “All our developments are residential. I love to see young people get into their first home, because it is so difficult for them in this country to do that without stretching themselves to the absolute max.” Richard’s passion as a property developer is creating the land opportunities that can be sold to building companies, to create truly affordable housing. He says he is trying to fill a gap in the market by creating affordable sections on brown field sites, concentrating on larger sections close to Turangi and Taupo, and subdividing them into smaller lots for mid and high-density townhouses and terrace houses. “If I can find opportunities to create a smaller section that enables people to build a 100sqm home for $600,000, that is reasonably affordable in this day and age. “What I would love this country to do is create a range of one, two, and three-bedroom homes and terrace houses so that people can trade up or down as their circumstances change. “They are doing this in the larger centres, but not in the smaller locations, and the demand for it is phenomenal.”
RkJQdWJsaXNoZXIy NDc2Mzg=