One of the largest greenfield development sites seen in Taupo for years, poised to yield hundreds of homes with sweeping lake views, has been placed on the market for sale.
The freehold block of approximately 112 hectares sits beside established housing in desirable Acacia Bay, about 10 minutes’ drive from Taupo’s central business district.
Part of an area identified by Taupo District Council for residential growth, the site on Loch Views Road has an identified potential yield of more than 600 residential lots, subject to the granting of consents.
The Loch Views Road property is now being marketed for sale through Bayleys Taupo by way of tender closing at 4pm on Thursday, April 22 (unless sold prior).
Salespeople Yvette Westerman and Yvonne Westerman say the land for sale represents a unique development opportunity at a time when the thriving North Island visitor hotspot is seeing huge demand for residential sections.
“The number of vacant residential and lifestyle sections in Taupo is incredibly low and demand has certainly outstripped supply,” says Yvette.
“Taupo District Council reports that it has consented more new dwellings than new lots over the past two years. As a result, sections are now in very hot demand.
“The council’s future growth plan anticipates and plans for continuing strong demand over the next five to ten years.”
Owned by one family for more than 25 years and currently farmed, the Loch Views Road property’s development credentials are underpinned by its being targeted by the council as a key location for Taupo’s growth.
“The local authority reclassified the land in 2006 as one of very few areas with a new zoning of New Residential Development. This could allow a mix of residential densities, if required, to suit the aesthetics of the area and surrounding homes, while utilising or implementing the required infrastructure as discussed with local authorities. Having an existing zoning for residential growth is a vital advantage,” says Yvette.
Property specialists from Harrison Grierson have assessed the block’s potential and prepared a detailed draft proposal for a staged development yielding 610 residential lots. This is available to potential buyers and site inspections are available by appointment.
The block for sale has two identified legal access points for entrances off Loch Views Road and Stewart Glen. An additional third access point is proposed off nearby Reeves Road, subject to necessary consents.
Yvonne Westerman says the land lies in a popular location, surrounded by established residential and lifestyle homes.
“Thanks to the site’s elevation and rolling topography, a large proportion of the lots, when developed, will offer impressive views of the lake, Acacia and Whakaipo Bays, Taupo township and Mount Tauhara,” Yvonne says.
“This will typically help to yield a higher section price. These stunning views will certainly be a key selling and value-add feature of any developed block offered to the market in the future.”
Yvonne says any development will also benefit from ongoing economic strength in the district.
“Taupo’s visitor economy, with its strong reliance on domestic tourists, has held up well in the Covid environment. The district is set to gain further from major investments such as a $20 million town centre upgrade, a new terminal and car park at Taupo Airport and Contact Energy’s plans for a new $580 million geothermal power station.
“This is an exciting time for Taupo, and the foundations are being laid for future growth. The property at Loch Views Road represents an exciting greenfield development opportunity in a location where demand for new housing greatly exceeds supply.”