Hamilton Subdivision Sales Show No Sign Of Easing Up

Interest continues to be strong with sales picking up at Magellan Heights - a superior residential development located in the heart of the established Flagstaff area in Hamilton.

Developed by CDL Land and marketed by property specialists, DTZ, 50% of the initial sections released have been sold. The entire subdivision will eventually total in the region of 500 sections with stages to be released over the next few years.

The majority of the North West of Hamilton is flat but Magellan Heights features north and west facing elevated sites securing panoramic views across Flagstaff out to the distant ranges, setting a new lifestyle standard for Hamilton. The development is close to well-planned neighbouring suburbs and local amenities and, with only a 10-minute drive to the city centre, represents a secure investment with proven returns.

With section prices in the $170 to $186,000 price bracket early expectations are that houses are likely to resell in excess of $500,000 placing the development firmly in the top sector of the Hamilton property market.

According to DTZ's Robyn McLennan, buyers to date are owner/occupiers rather than speculators and investors. "The kiwi quarter acre, or as close as you get to it these days, still remains first choice for buyers until they get to the 'empty nest' stage. Families buying at Magellan Heights want room to kick a ball, a nice new house and good schools close by. Many buyers are Hamilton residents upgrading but there is a good mix of people new to the area reflecting Hamilton's increasing multicultural profile."

The environment the developer has created in Magellan Heights offers buyers more freedom of choice to express their own personal taste and create the home they really want. Many subdivisions tend to be monopolised by builders resulting in suburbs where all the homes have a very similar appearance because the land is sold with a building package.

"This is not the case at Magellan where private individuals are the most common purchasers wanting to express some individuality when it comes to design," says Robyn McLennan. "Buyers can bring in their own architects and builders and do their own thing or they can, of course, take advantage of the many builders offering design and build packages."

The popular Ashmore subdivisions, also marketed by DTZ, have continued to exceed expectations with stage 8 fully sold out and stage 9 due to come on line early in the new year.

"Ashmore has sold exceptionally well, especially with spec builders, with no signs of a slow down even as we reach the holiday season. Sections at Ashmore averaged $135,000 with House and Land Packages retailing $380,000 - $450,000".

Information is currently available on all new releases of sections at both Magellan Heights and Ashmore. To find out more, contact Robyn McLennan at DTZ on 0275 947 747 or visit the onsite project office (open 11 to 4 pm 7 days per week.)

Notes to Editors

DTZ is a leading global real estate advisory and consultancy firm. More than 9,000 staff advise and act for leading multi-national companies, major financial institutions, governments, developers and investors in 40 countries around the world. With 192 offices in 163 cities, DTZ provides integrated services in corporate consulting, agency, brokerage, valuation, corporate finance, property management and research. DTZ Holdings plc, which is the largest shareholder in the DTZ operations, is a publicly quoted company, listed on the London Stock Exchange since 1987.

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