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News Release

Commercial development land in prime location

JLL marketing 410 Peacockes Road, Tamahere, Hamilton


 

 

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

410-Peacocks Rd Hamilton.jpg5.2 hectares of proposed town centre rural land holdings in close proximity to Hamilton CBD is for sale through JLL.   

JLL agents John Binning and Chris Harding, are marketing the Tamahere property, which is to be sold through an expressions of interest campaign closing Tuesday, 27 March 2018.

"The vendors are the Johnson family, who have owned the property for many years. They have decided that now is the right time to sell. It is a fantastic site located just behind the Waikato River, which borders Hamilton's CBD. The land is in five lots held on a single title and because of its frontage to Peacockes Road, it would make a great town centre site," says Binning.

The contour of the site is level, with four of the five lots having frontage to Peacockes Road. Only one lot (Lot 7) sits behind, however this site has access through Peacockes Lane. Lots 2 and 5 are 20,000sqm while Lots 3,4 and 7 are smaller 4,000sqm sites.

"We have been working with the Johnson family for some time, having already sold the surrounding residential areas of the property on their behalf. This commercial piece of land is a natural progression for the area, which currently has a lot of residential construction already taking place nearby," says Binnings.

Located on the eastern periphery of Hamilton City, between Hamilton and Cambridge, the property is in the Peacocke Character Zone under the Hamilton City Council Partly Operative District Plan October 2016. This zoning was put in place to ensure urban development within the Peacocke Character Zone area.

Vendor Jim Johnson says, "The council has already acquired properties around ours for roading and other planned infrastructure for the area. Our land is significant in the fact that it is zoned and planned to be a town centre. Having owned the property for 40 years, I have seen Hamilton change a lot during this time and the Peacocke area is about to be a part of this with the council ready to begin development here."

For the purpose of Hamilton's future urban growth, in 1989 the Peacocke area, which totals 720 hectares was incorporated into Hamilton City from the neighbouring Waipa District Council. From this change the Peacocke Structure Plan was prepared, which promotes ideas regarding urban design concepts, natural environment and the transportation network. The outcome being a vision for the Peacocke area to be a high quality urban environment, based on urban design best practice, environmental responsibility and social well-being.

The vision for the area is certainly a driver for a commercial prospect such as a town centre being placed on the site. Although not yet finalised, a minor arterial road is proposed to extend along the front of the property, which would meet up with a proposed collector road extending to the north and west. There is also easy access to the proposed Southern Links transportation network, and existing State Highway 3.

"The location is ideal for a supermarket or suburban shopping centre. All the signs are there that would make this a strategic position for such an offering," says Binning.

Last year it was announced that $272 million would be made available for infrastructure works associated with the Peacocke area. It is expected that this development will commence within the next two years.

"There is a limited amount of commercial land available in the wider Hamilton area. The site has great access to Waikato Hospital and Hamilton International Airport and the properties surrounding the site are earmarked to be developed into low density residential dwellings, which would without doubt support any commercial development placed on this site," says Harding.

According to Statistics New Zealand, Hamilton is forecast to experience population growth of 74,600 residents, an increase of 50% between 2013 and 2043. This will take the total population from 150,200 to 224,800.

"Hamilton's growth will inevitably present huge opportunities for businesses in the region and this site is no exception, creating a solution for development of the Peacocke area to support the predicted population growth," says Harding.