Karaka Lakes Backing From Fletcher Residential

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Karaka Lakes Gets Backing From Fletcher Residential

Over 10 years of planning is now paying dividends for former farmer, Frank Reynolds, as his family’s premium $30 million Karaka Lakes residential development on the Hingaia Peninsula in South Auckland continues to entice buyers.

The country’s largest home builder, Fletcher Residential, has now purchased 36 of the sites available in stage one of the development under its brands Aston Marsh, Fyfe and Spaceline, with building well underway.

Fletcher joins Universal Homes who are already building 51 houses within the development.

Additional sites have been sold to a selection of boutique builders including Jalcon, Landmark Homes, David Reid Homes and Hughes Construction. Nestled within Karaka and adjacent to the Karaka Bloodstock Centre in Papakura, the Karaka Lakes development boasts an impressive $12 million infrastructure which was completed in August 2008 This includes two man-made lakes which serve as stormwater ponds, a waterfall, a 3m wide arched walkway bridge and tranquil surrounding reserves.

“Unlike a lot of other developments, we made it a priority to complete the infrastructure first which means there is no risk to purchasers of being left in the middle of an incomplete development and this has helped us sell these properties,” says Frank Reynolds. “ The fact that Aston Marsh, Fyfe and Spaceline all brands of Fletcher Residential has come onboard shows a real vote of confidence for Karaka Lakes and its location is helping us attract a good level of public interest in these properties,” he explains.

David Halsey, General Manager of Fletcher Residential says that “Fletchers is pleased to be associated with such a premium residential subdivision.” With houses well under construction David Halsey is anticipating strong buyer interest.

David Halsey says “The development is a credit to the Reynolds and we are excited about the location. Aston Marsh, Fyfe and Spaceline will be offering a variety of homes that reflect the quality of the surrounds and will also be great value for money”.

Frank Reynolds says that a lot of interest is coming from local residents who are already enjoying the recreational feel of the Karaka Lakes reserves and lakes on weekend strolls. The fact that there is a designated town centre directly opposite the site and a new primary school planned just 400 meters down the road are also proving to be draw cards.

Buyers have the option to purchase a completed house from either Aston Marsh, Fyfe, Spaceline or Universal, purchase a section from Karaka Lakes and use one of the builders on site, or opt to have their own architect and builder provided their designs and construction comply with the Karaka Lakes Covenants and Design guidelines.

Previously a farm and orchard run by the Reynolds family, the Karaka Lakes development with infrastructure, spans some 50 hectares. Only 11 sites remain unsold within stage one of development. Stage two of the development, which comprises 29 lots, has just been released for sale.

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