Nearly 30 residential dwellings within what will be one of the Waikato’s biggest privately owned and operated retirement villages have been placed on the market for sale.
The single-level individual residences are located within the Ngatea North Estate retirement village currently under construction at Ngatea. The two-bedroom homes – in a variety of size and room configurations – are due for completion by the end of this year, and come with a builder’s 10-year warranty.
The Ngatea North Estate retirement village enclave features a total of 29 homes – one of which has already been sold, with three others under contract with buyers. The remaining units for sale range in size from 96-square metres to 114-square metres, sitting on freehold sections ranging in size from 300-square metres to 391-square metres.
Prices for the units range from $560,000 to $575,000. The units, which are being sold individually, can be purchased by anyone, but occupants or tenants must be aged 55-years or older. The gated community will be built around a private road off McWatters Drive.
The Ngatea North Estate retirement village is located on the edge of the town’s central business district which runs along the spine of State Highway 2 linking Auckland and the Bay of Plenty.
The 29 homes within Ngatea North Estate retirement village are now being jointly marketed for sale individually through Bayleys Hamilton and Bayleys Ngatea. Salesperson Josh Smith said the Ngatea North Estate retirement village was noticeably different from aged care residential options being marketed by the country’s much bigger retirement village operators with sites throughout New Zealand.
“Most notably, the units within Ngatea North Estate retirement village are all freehold titles – enabling owners to enjoy any capital growth on the value of the property over time when it eventually comes to selling,” said Smith.
“Secondly, the units may be purchased as investment properties – provided tenants meet the village’s minimum age stipulations. A rental appraisal undertaken for two-bedroom units within Ngatea North Estate retirement village forecasts a weekly return of approximately $400 – bearing in mind the attractiveness of these units being new-build residences in a gated community.
“Thirdly, the developers of Ngatea North Estate retirement village are Waikato locals who are purely focused on this locale – enabling them to give the project their upmost attention underpinned by their local knowledge and employing local trades personnel. Ngatea North Estate retirement village is a lot more personalised than the bigger retirement villages you would expect to find in the cities.
“And finally, being located in a small provincial town where land prices are markedly cheaper than in the bigger urban centres, it means the developer’s cost savings have resulted in a highly affordable end product coming to market That equals savings for buyers.”
All units within Ngatea North Estate retirement village are being built with heat pumps, mains pressure hot water cylinders, ceramic cook tops with range hoods, stone benchtops, and walk-in showers. Built on concrete slab foundations, each fully-fenced dwelling will have its own internal-access single vehicle garage with concreted driveway parking for a second vehicle.
The evolution of Ngatea North Estate retirement village has been staged over multiple distinct development phases – encompassing:
• The construction of the gated retirement village units currently being marketed for sale
• The construction of 29 one-bedroom apartments along similar lines to the current two-bedroom units currently being offered for sale
• The establishment of a 30-bed assisted-living rest home complex with capacity to increase amenities as occupancy increase
• The building of a pre-school childcare centre capable of accommodating up to young 75-attendees.
Smith said the masterplan also allowed for the construction of a café to service both residents and the general public.
The 29 residential units for sale within Ngatea North Estate retirement village have been designed to ensure low maintenance and landscaping input by their occupants – with a resulting uniformity of appearance.
“The positioning of Ngatea North Estate retirement village delivers a wonderful lifestyle opportunity for its residents – with the convenience of the town centre just a few hundred metres away, while also enjoying a rural outlook over farmland stretching into the distance on several sides,” Smith said.
“The units within Ngatea North Estate retirement village would suit ‘active retirees’ – people who still very much enjoy getting out and about. Ngatea’s location at a pivotal axis point on the arterial highway network, allows day-trip access to the Firth of Thames to the North, the Northern Bay of Plenty to the east and Waikato to the South.
“With that location automatically comes access to multiple legs and routes of the National Cycle Trail, an array of walking and hiking tracks in the countryside and the mountains, along with a plethora of beaches and boat launching ramps. And for golfers, the location is incredible – with the choice of nine courses within a half-hour driving radius… Paeroa, Thames, Maramarua, Te Kauwhata, Te Aroha, Ta Huna, Hauraki, Waihi, and Morrinsville.”