Greener pastures for Hadlee

Sir Richard Hadlee is to become a resident of one of the country's newest golf course towns.

New Zealand's most famous cricketer is building a house at Pegasus Town, in Canterbury.

His home in Avonhead, Christchurch, is under offer. With a rateable value of $686,000, the four-bedroom, two-bathroom, three-living room property in Priorsford Court did not sell at auction last month.

Pegasus has been in the making for three years. Its developers have a target of 3500 homes with a population of about 7000. About 700 sections have been sold but only 100 houses are lived in.

It was hit by the recession and one of its companies, Pegasus Properties, went into liquidation.

Sir Richard's home is near the golf course. Those sections, and others by the town's lake, are on the market for $500,000.

Sir Richard declined to discuss his move.