Rare blank canvas in attractive location north of Wellington
Unmissable opportunity to purchase more than 28ha of vacant possession land in Paraparaumu with zoning for residential and commercial development.
JLL is delighted to present a unique parcel of land north of the Wellington CBD, in the burgeoning Kāpiti Coast, zoned for commercial and residential development. Now connected to Wellington Central via Transmission Gully, Kāpiti Coast is the fastest growing region north of the city. These sections at 77 and 109 Kāpiti Road, Paraparaumu have long been considered the future town centre of Paraparaumu, situated only 53km north of Wellington. The sites are being sold as vacant possession, giving the astute investor a blank canvas to develop. This offering will attract interest from a wide pool of developers so interested parties should act quickly to secure the sites, now on the market for sale by way of Deadline Private Treaty by instruction of the receivers, closing Thursday 8th December 2022.
77 and 109 Kāpiti Road, Paraparaumu is zoned Metropolitan Centre, meaning a mix of retail, industrial, and residential up to a height of 12m is permitted, giving the buyer the freedom to plan use of the section to best suit their investment aspirations. The versatility across the combined 28.0269ha (17.5925ha and 10.4344ha) is unmatched, with fully vacant possession rarely seen in an opportunity of this size. The Kāpiti region is forecast to boom in popularity following the opening of Transmission Gully, connecting it to central Wellington just over 50km away. The region that stretches from Paekākāriki to Ōtaki is currently home to 57,600 people as of June 2022, according to a Statistics NZ estimate. That number is expected to grow by up to 40% over the next 20 years. The future-thinking investor who secures 77 and 109 Kāpiti Road will be well-positioned to capitalise on that growth.
JLL has been exclusively appointed to market the sites at 77 and 109 Kāpiti Road, Paraparaumu for sale by way of Deadline Private Treaty, closing Thursday 8th December 2022.
JLL Sales and Leasing Director Gary Hansen believes the location of the sites on Kāpiti Road will make it an unmissable proposition for large-scale investors looking to build a central, strategic hub in a growing region.
“The position of these two sites, just a short distance from Coastlands Shopping Precinct, the Kāpiti railway station, and adjacent to State Highway 1 and the Kāpiti Road on-ramp through to Wellington via the now-open Transmission Gully, places them in proximity to essential services and transport links – desirable for future occupiers,” says Hansen. “Intelligent development will open the door to both residential and commercial owners and occupiers seeking convenience and lifestyle. Being only one minute from Paraparaumu Beach and the local cafes and restaurants is the icing on the cake.”
Combined with the strategic location, JLL Sales and Leasing Broker Peter Heald indicates the mostly flat land and zoning will appeal to developers.
“The enormous land area of over 28ha comprises mostly gentle contour and sand dunes, with a percentage of low-lying land,” says Heald. “This makes it accessible for initial earthworks before developing into the residential, commercial, or combination precinct that the astute buyer sees as the most intelligent use of the package.”
An area on the rise, zoned to develop a precinct that caters to the forecast population boom, and strategically located near transport links to the Wellington CBD are factors that make the sites at 77 and 109 Kāpiti Road a unique investment opportunity.
Interested parties should contact the sole agents for more information.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.