Whanganui development site offers versatility

A large, high-profile landholding with versatile residential or commercial development possibilities is up for sale in a well-connected and growing suburban location in Whanganui.

Nearly 1.7 hectares with State Highway 3 frontage

Positioned in a prominent corner location in the northwest suburb of Springvale, the nearly 1.7 hectares of freehold land enjoys profile and accessibility maximised by frontage to State Highway 3.

Residential zoning supports varied housing options

Residential subdivision and development with standalone, duplex, townhouse, or other medium-density housing, as well as community or educational facilities, are permitted by Residential zoning under the River City’s district plan.

Commercial and mixed-use possibilities

Other options to unlock value could include commercial or mixed-use projects, large-format retail, and aged care or retirement village developments, subject to zoning, planning and resource consent approvals.

Springvale site offered for sale by tender

The property at 237 London Street, Springvale, Whanganui, is being marketed for sale by John Bartley, Bede Blatchford and Jean Clark of Bayleys Manawatū-Whanganui.

It will be sold by way of a tender closing on Thursday 10 December, unless sold earlier.

Site scale supports comprehensive or staged development

The opportunity will appeal widely to buyers keen to unlock the potential of a strategic landholding, according to Bayleys Manawatū-Whanganui franchise director and commercial broker John Bartley.

“The scale, visibility and accessibility of this site make it a versatile opportunity for purchasers looking to create a substantial presence in a growing and well-established part of Whanganui.

“The size and regular-shaped configuration support a comprehensive development or a project that is progressively staged over time.

“The largely level contour and prominent corner position provide a strong foundation from which buyers can investigate a range of development options,” says Bartley.

Prominent corner location connects with city amenities

Blatchford says the land’s well-connected location, handy to the central city and served by abundant local amenities, is a key selling point.

“A future development here will reap the benefits of standout visibility at the intersection of Purnell Street and London Street. As part of State Highway 3, London Street is a key arterial route that supports convenient connections through Whanganui and towards Taranaki and Palmerston North.

“The site’s frontage to this route, combined with its corner position, gives it a strong profile to passing traffic,” he says.

Schools, recreation and services nearby

The London Street property sits close to Whanganui High School and the Springvale Park sports precinct, including Springvale Stadium and the Splash Centre.

“The wider Springvale area includes a mix of residential, recreational and commercial activity and offers convenient access to shops, hospitality, professional services and schooling choices, as well as community facilities and Whanganui Hospital,” says Blatchford.

City growth supports long-term development demand

Clark says fundamentals for development are further supported by steady expansion and demographic change across the city.

“Whanganui has seen consistent population growth fuelled by internal migration from larger centres like Auckland and Wellington, as people seek a more attainable lifestyle, relatively affordable housing and a lower cost of living.

“This ongoing expansion, coupled with a diversified local economy spanning regional services, manufacturing and healthcare, drives a healthy underlying demand for both housing and localised commercial or retail real estate, and underpins the potential for long-term value growth.

“Land acquisition and development entry costs are more manageable locally than in the big cities, reducing the capital commitment for a project at the Springvale site. This is sure to heighten interest among buyers and developers from across the region, and beyond,” Clark says.