"Serious marketing" of one of Wairarapa's largest lifestyle block subdivisions is set to get under way next week and its Wellington developers are hailing it as a vote of confidence for Masterton as the district to invest in.
Martinborough and Greytown land prices are proving just too expensive for developers to consider, according to Christian Lambert, who has purchased a former farm in Norfolk Road and subdivided it into lifestyle blocks.
With the development comes a Wellington-based "preferred building company", Pilbrow Residential, which is setting up offices and a show home in Greytown.
Mr Lambert was born and raised in Masterton and is now general manager of the Boulcott Investments Group in Wellington.
He's established what he describes as a sub-development company "Spark it Up" to concentrate on property development in Wairarapa.
He admits he's also eyeing up another site for development, but is not yet ready to announce this venture.
"The Wairarapa is seriously the best place to invest in," Mr Lambert said. "I give it just two years, though before land values cost too much to make subdivision development viable at the level we want to pitch at."
The level he's pitching at is in the form of a 99ha subdivision on Norfolk Road, which has been broken up into 26 3ha blocks and two of 4ha.
The sections are selling on average at $220,000 each, 10 have already been sold, and come with gate services including underground power, telephone and broadband connection and a 2.2km sealed internal roading system. There's also to be an equestrian arena for residents.
Mr Lambert said he was not surprised how quickly some of the lots sold despite no concerted selling programme to date. He purchased the land five months ago and said working with the Carterton District Council was easy.
He especially praised the combined Wairarapa draft district plan that is out for public comment.
"No where else in the country is there such co-operation between councils. It makes for gaining clear and concise information quickly."
Marty Berry is the real estate agent charged with marketing the subdivision. He says it fills an increasing gap, with a high demand for lifestyle blocks.
Grant McLachlan, from Tomlinson and Carruthers surveyors in Masterton, says the Norfolk Road subdivision is without doubt unique in that it comes with all the services and is ready to go.
It is the largest he's been involved with in Wairarapa. Others to get near it in size are the Wingsgate development at Opaki, north Masterton, the Weraiti hill subdivision, east of Masterton, and one in Ahiaruhe Road, east of Carterton.
Steve Pilbrow is a builder with 20 years experience and now acts as managing director of his company, Pilbrow Residential in Porirua.
He says he had planned to expand to Wairarapa before the Norfolk subdivision was proposed and is thrilled to be the preferred builder for the development. This means, his name is on the sale and purchase agreement of each lifestyle block. Purchasers are encouraged to use his firm although there is an out clause if necessary.
"It's not strong arm tactics, we just want to ensure there's a consistent high quality," Mr Lambert said.
He has worked with Mr Pilbrow on several projects in the Wellington region and says he's impressed with the quality of the company's work.
He confirmed there would be strict building covenants for the subdivision including a minimum house size of 120sq m, colour restrictions, and no farming activities or business machinery.
Despite those restrictions, "I don't believe there's anything restrictive", Mr Lambert said.
"People expect there will be covenants these days to protect their financial investments."
New subdivision hailed as vote of confidence in Masterton
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