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News Release


Developers dream hole in one

Pegasus Golf and Sports Club located in Canterbury's Pegasus Bay has been put on the market for sale, along with 58,358sqm of commercial land zoned for business use and 34,111sqm of residential land marked for a retirement village.



Long term investment with development potential/new-zealand/en-gb/news/916/long-term-investment-with-development-potentialAUCKLANDLong term investment with development potential
Former Fire Station on high profile corner site/new-zealand/en-gb/news/915/former-fire-station-on-high-profile-corner-siteCHRISTCHURCHFormer Fire Station on high profile corner site

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JLL’s director of capital markets, John Binning, and commercial sales and investments broker Chris Harding, are marketing the substantial mixed-used development along with joint agents David Goodhue and Bruce Jiao of Barfoot and Thompson. The sale is offered by deadline private treaty closing Tuesday 3rd November 2015 unless sold earlier by negotiation.

Pegasus Township is located just a short drive north of Christchurch on State Highway One, 25 minutes’ drive north of Christchurch airport and approximately 15 minutes’ drive from nearby Kaiapoi or Rangiora. 

“This is a fantastic opportunity to invest in a thriving community with well-established infrastructure and excellent amenities. By 2018, there will be more than 4,500 residents living at Pegasus Town and it is expected that retail spending by the surrounding catchment will reach about $150 million a year by 2021” says Binning. 

Pegasus Golf and Sports Club is maintained to international championship standard and has consistently ranked in top 20 golf courses in New Zealand. The sale of the 79.888 hectare 18-hole golf course, held across six titles, includes the main building comprising 597sqm of golf shop, bar/café, gymnasium and club rooms; as well as tennis courts, driving range and maintenance shed. A cart shed is also included along with the golf course which can house up to 50 electric carts and can also be used for hosting events.

Various sizes of ‘B’ lots totalling 58,358sqm of commercial land zoned for business use are also available for purchase in Pegasus Town along the waterfront of Lake Pegasus. 

Within the 58,358sqm of business-zoned land is Lot B1, an architecturally designed retail convenience centre constructed in 2009 on a 2,950sqm corner site on Pegasus Main Street. The 1,417sqm convenience centre comprises 1,029sqm on the ground floor and 388sqm on the first floor as well as 41 onsite car parks. Retail offerings at the centre include a café, general store with an off-licence and post office, pharmacy, ATM and medical centre. Tenancy clauses allow for termination of leases once sold with the potential to convert to accommodation or other uses. A 600sqm retail building is currently under construction on the 2,847sqm site at Lot B9. 

Chris Harding says, “Several more individual lots are available as part of this sale process presenting attractive options for greenfield development and the opportunity to add to the amenities needed to cater to the fast growing residential population of Pegasus town.”

Also on offer is a 34,111sqm rectangular site of residential zoned land earmarked for a retirement village or gated lifestyle community. The site is bounded by Hodgkinson Road, Whakatiou Street, Solander Road and Infinity Drive. 

“Approximately 90 standalone units and a community centre can fit on this site,” says Harding.

Pegasus highlights include a feature lake, beach, natural wetlands, primary school for years 1-8, day care centre and a popular multi-sport venue. A second day care centre will open next year at Pegasus Town as well as a purpose built medical centre.