66 | A leg-up for first-home buyers in Dunedin The 32-lot residential subdivision on 4.5 hectares is well-situated in Kaikorai Valley Road on Dunedin’s western arterial route. HWH Properties T T Russell Fredric “It’s a development of sections right on the edge of the inner city that suits people that want to be close to amenities. You are literally five minutes’ drive or probably a 20-minute walk into the city.” DEVELOPMENT With its latest development, Dunedin’s HWH Properties is offering a sunny location, convenience and easy connection to the central city. The 32-lot residential subdivision on 4.5 hectares is well-situated in Kaikorai Valley Road on Dunedin’s western arterial route, within minutes of the central city with equally seamless access south to Mosgiel and beyond. HWH Properties’ director Michael Wallace says the subdivision is immediately next to Kaikorai Valley College and across the road from a pre-school, as well as being close to Mornington, Bradford and Balaclava primary schools and supermarkets and, being on a main road, there is also easy access to bus routes. “It’s a development of sections right on the edge of the inner city that suits people that want to be close to amenities. You are literally five minutes’ drive or probably a 20-minute walk into the city,” Michael says. Part of the subdivision is on a reasonably steep slope, but it is relatively level at the top and will feature a central common green space. “It is quite sheltered and the aspect means there is pretty much all-day sun.” Dunedin businessman Roger Fewtrell has purchased 12 of the stage one lots as part of his well-publicised altruistic initiative to provide affordable housing to first-home buyers, leaving two, stage one lots available to the open market. Stage two comprises 12 land-only lots of 600sqm to 700sqm, and these have now been released to the market, while stage three, when released, will offer eight lots of a similar size. Roger Fewtrell is offering a $100,000 subsidy to selected first-home buyers with the condition of signing a three-year owner-occupier contract. He says he is motivated by a desire to help regular, hard-working people get ahead in a housing market that has made it otherwise extremely difficult to get on the property ladder. “We are just giving people a bit of a leg-up to get into their own home.” He agrees the subdivision is in a good location, especially for working people with children. “There’s plenty of work around that area as well. If [a couple], maybe the partner, is looking for part-time work – they’ve got a couple of kids – there’s plenty of industry in that area.” Roger is planning to build 12, two-bedroom units – built as six duplexes – with open-plan kitchen, living and dining and dedicated offstreet parking, in addition to three houses. The balance of the subdivision’s stage one sections are being sold by Ray White Dunedin agent Grant McLean by negotiation, with price guidance in the range of $250,000 to $350,000. Michael says a key to the development has been HWH Properties’ collaboration with Pro Civil, which has undertaken the ground work, utility services, kerbing, roading and other infrastructure for the first stage. “It’s reasonably steep at the bottom, so getting the first piece of the road in was quite a complex piece in that, but once you get up past those first half dozen sections it all flattens off.” Pro Civil’s knowledge and experience, including dealing with the consenting, has helped to streamline and accelerate the project considerably, Michael says. “They’ve been exceptional.” Proud to support HWH Proper�es For a personal approach to all your business advisory and accoun�ng requirements, contact CEG today p 03 479 0400 e admin@cegnz.co.nz w www.cegnz.co.nz 03 477 3947 www.racedouglasburke.nz lawyers@rdblaw.nz No Jargon. No Nonsense. Covering your legal needs efficiently. Proud partners of HWH Properties Limited Subdivision Experts
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