'The Gospa Estate' Residential Subdivision Development,
Here's a great opportunity to invest in the development of residential sections in an area that has been constrained by older housing.
Executives moving to the area are wanting a higher class of housing, which is what will be filled by this subdivision. Demand for Government supported housing is also high (from Government employees or those entitled to subsidy) so there is good potential for any housing that is built to be leased to the Government on 10 year leases if desired.
Kaitaia is in the far north of New Zealand with a warmer climate than most of the rest of New Zealand, hence there is an ongoing demand from those wishing to live in slightly warmer climate
Great development opportunity with excellent proposed building sites and flat contour.
For sale are 66 sections, in an executive residential subdivision with prime location.
Features:
Flat contour, fully serviced (including reticulated sewerage, stormwater disposal, town water, power and telecommunications), protective building covenants.
'The Gospa" is located in the heart of Kaitaia, handy to the main street and shopping area. Kaitaia is the main banking and service centre for the Far North district and serves for many executive coastal towns and subdivisions on both the west and east coasts.
As Kaitaia is experiencing high demand for quality residential properties, for both purchase and rental, building covenants will be placed over the newly created lots. It is therefore intended that new dwellings built in the area will be of a high standard and that the subdivision will soon gain a prestigious reputation.
The development includes a variety of lot sizes from a minimum of 600m2 up to 725m2. All lots will be fully serviced including reticulated sewerage, stormwater disposal, town water, power and telecommunications. All sections in the development have a flat contour and are in grass.
|
This property pays a 7% return on the Purchase Price of the land, for a period of 2 years, during the Subdivision and Build process. |
|
After 2 years it is expected that the subdivision is complete and partially sold off to repay development costs, or buildings have been erected and will provide ongoing income. |
Build options:
These sections allow for your choice of house design.
An example of investor housing available from around NZ $180,000 is this house from Milestone Homes
www.milestonehomes.co.nz
 
|
Section Type: |
Residential |
|
|
Development Type: |
Residential Sub Division |
|
|
Development Size: |
Whole development for sale as 1 lot
or as Sub Developments |
|
|
Address |
Donald Rd |
|
|
Size: |
600m2 up to 725m2 |
|
|
Price: $ |
1.4 mil+ GST |
|
|
Valuation: |
|
|
|
Profit Potential |
Estimates only |
|
|
Finished Sale Price |
68x $100k |
$ 6.8 mil |
|
Selling Costs |
Agent fees, lawyers etc (total 5%) |
$ 250k |
|
Initial purchase price |
Land, plans and consents |
$ 1.4 mil |
|
Development costs |
$ 25k per section subdivision cost
finance 3 years (2 yr subdivide, 1yr sell)
$ 3.1 mil @ 9% |
$ 1.65 mil
$ 825k |
|
Management |
Northcorp can manage this project for you. |
|
|
|
Estimated Profit |
$ 2.6 mil |
 
BBX and Barter dollars also accepted
|
Contact Details |
|
|
Name |
Daryo or Peter |
|
Company |
Darius Group |
|
Phone - Landline |
+64 9 447 1641 |
|
Phone - Mobile |
Daryo +64 27 524 1931 Peter +64 274 711191 |
|
Fax |
+64 9 447 1642 |
|
Web Site |
www.dariusrealestate.com |
Note: email addresses available by placing an "enquiry" (top right of menu)
|
