Aucklanders buying up Mount residential development

Aucklanders buying up newly consented Mount residential development

Auckland, March 16, 2017

Aucklanders make up almost half of the buyers of a 71-dwelling development in Mount Maunganui that has just been granted resource consent.

The salt. residential community, which is being developed by SNG Investments and marketed by Colliers International, will be built on a former campsite that is now a designated Special Housing Area.

The Girven Road site will be home to 52 apartments, 19 townhouses, a cafe, a childcare centre, and large shared green spaces, all a short stroll from the sea.

Tauranga City Council-appointed independent hearings commissioner David Hill granted resource consent this week.

“The provision of higher density housing in this residential community will contribute to and enable the social, economic, and cultural wellbeing of people and communities,” he wrote.

SNG Investments Director Paul Spillane says he is delighted salt. has been granted consent.

“Now we’re ready to go. This will be one of the biggest construction projects in the Bay of Plenty, and we can’t wait to get underway.”

Almost two thirds of the dwellings have been sold off the plans in under three months, Spillane says.

“I’m thrilled with how sales have gone. The Colliers International team has sold 45 units, including 14 of the 19 townhouses, putting us well ahead of schedule.”

Grant White of Colliers International says most salt. buyers intend to live in their new dwellings or use them as lock-and-leave holiday homes.

“Almost half the buyers have come from Auckland, with the remainder coming from the Waikato and Bay of Plenty regions, including Mount locals,” he says.

“The mix of buyers is unbelievable. Initially we thought the demographic would be older, but it’s across the board – we have young couples, older working-age couples, holidaymakers and retirees.”

White says the location, quality and design of salt. is key to its success.

“Buyers like that it’s brand new, well designed and has a good body corporate.”

Centred on a 750sq m landscaped communal green area with a water feature and winding boardwalks, salt. comprises a series of high-quality three-storey apartment buildings and two-storey townhouses.

Prices range from $435,000 for a single bedroom apartment to $950,000 for a three bedroom townhouse.

The 1.02ha site is located on a bus route and is only a few minutes’ walk from the beach, Bayfair Shopping Centre, Baywave Aquatic Centre, ASB Baypark Stadium, a medical centre, and two popular golf courses.

Work on the site is due to begin at the end of April, with the project scheduled to be finished by November next year at the latest.

The main issue raised during the consenting process related to traffic generated by the childcare centre.

As a result, the centre was downsized from 115 to 85 children, allowing for the construction of another two residential units.

In granting consent, Hill noted the project was consistent with the purpose of the Special Housing Area legislation, and any adverse effects of the development would be adequately avoided, remedied or mitigated.

ENDS

About Colliers International:

Colliers International Group Inc. is a global leader in commercial real estate services with 15,000 professionals operating from 403 offices in 68 countries. With an enterprising culture and significant insider ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include brokerage, global corporate solutions, investment sales and capital markets, project management and workplace solutions, property and asset management, consulting, valuation and appraisal services, and customized research and thought leadership. Colliers International has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 10 consecutive years, more than any other real estate services firm.

Founded in Australia in 1976, Colliers International is the largest locally formed real estate services firm with professionals worldwide. Find out more at www.colliers.co.nz

For the latest news from Colliers International, visit: New Zealand – colliers.co.nz/news | International – colliers.com/news | Follow us on Twitter: New Zealand – @Colliers_NZ International – @Colliers | Visit us on LinkedIn: New Zealand or International

About the developers:

SNG Investments No.2 Limited is a company run by directors Paul Spillane and Peter Gillespie, who recently completed the 850 Cameron Road complex in Tauranga. Prior to this, the developers have completed a number of high quality commercial and industrial builds.

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