NZ Urban Development news from the media | 22 Sep 2020 | $200m Tauranga apartment development likely to starting selling units from mid next year


Hi *|FNAME|*, Please find below Urban Development News from the media from the week of 22 September 2020.

Provided by Rockhopper Development Advisory, a member of:                             

$200m Tauranga apartment development likely to starting selling units from mid next year

Homes in the rich-lister Norman family’s $200 million upmarket apartment and Farmers store development in Tauranga will likely starting selling from mid-next year.

It’s the largest development in the revitalisation of Tauranga’s CBD and expected to bring several hundred residents to the centre of town.

Anne and David Norman, owners of The Farmers, Whitcoulls and Pascoes The Jewellers and other retail businesses, are not only big players of the retail world here but also property developers.

The Farmers Tauranga Development includes a 6000 square metre Farmers store and 2000sqm metres for other retailers, as well as 120 homes consisting of 97 apartments including 4 penthouses, and 23 luxury townhouses, plus 322 carparks.

Plans to transform former Nelson Briscoes site into shops, offices and apartments

As of August last year, just 73 people lived within 500 metres of the Nelson CBD, compared to 5600 people who come into the city to work.

That number will rise if property developer Gaire Thompson has his way, as he plans to turn the former Briscoes site in Montgomery Square into mixed commercial and residential property.

“It’ll be commercial underneath, retail or something, and then a level of office spaces, and then two floors of accommodation.”

The development even included a rooftop garden area, and Thompson said he was hoping to attract good retail shops for the lower floor.

Record price, $80m, paid for an office building in Christchurch

Christchurch has recorded its highest-priced office building sale, for about $80 million.

The seven-storey Manawa office building on Oxford Terrace near Christchurch Hospital in the city’s new Te Papa Hauora/Health Precinct was bought by Dutch national and retired lawyer, Wolf Herwegh Vonk, who moved to New Zealand with his family last year. They are living in Auckland.

Herwegh Vonk bought the building from Chinese property development company Huadu International which bought out the original NewUrban Group, a joint venture between Huadu Construction and local investors John Fairhall and Bert Govan.

Despite the Covid-19 lockdowns the property attracted more than $1 billion of offers from New Zealand and overseas investors.

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