A prime piece of rural waterfront land in Red Beach with the potential to be developed into 33 residential sites or a retirement village was recently sold.
It was marketed by Bayleys Real Estate as having “huge development potential”, including potential for an aged care facility.
Hibiscus Matters understands that the purchaser is a local developer.
The 6.67ha site on 1-9 Chenery Road (from the Red Beach Road/Whangaparaoa Road intersection, down one side of Chenery Road) goes down to the Weiti River where it has a jetty and boathouse, and is zoned Residential Large Lot.
At one time the land belonged to former America’s Cup skipper Chris Dickson, however he was not the vendor in this most recent sale.
Mr Dickson had the allowable lot size on the site changed in October 2016 through the Unitary Plan process. The change enables subdivision with an average site size of 2000sqm. Generally, a minimum site size of 8000sqm would have applied to the site.
Currently the site is divided into six titles – five of around 4000sqm and one of 4.12ha.
Two development schemes were prepared prior to the sale to whet the appetite of potential purchasers. One uses 2000sqm lot averages to create 16 lots with reserves and another shows 33 lots with sizes from 600sqm to 1000sqm plus a larger lot and reserves.