TAKING SHAPE: Tauranga's latest subdivision at the western end of Papamoa. PHOTO/JOHN BORREN
TAKING SHAPE: Tauranga's latest subdivision at the western end of Papamoa. PHOTO/JOHN BORREN
A35-lot Papamoa subdivision has been snapped up in three weeks on land originally intended to become a log cabin getaway for rich Europeans.
"It is a strong market out there at the moment," David McFarlane, the developer of the 1.6ha block said.
All the lots were sold once tenders closedafter three weeks for one of the last big undeveloped blocks of land left on Papamoa Beach Rd, he added.
The Thorne Group bought 17 of the sections in the back half of the block, with the remaining 18 buyers bucking the trend of Aucklanders cashing up and shifting to Papamoa. Nearly all were from Tauranga.
Only the 2000sq m front portion of the original 1.8ha block has been retained by Eureka Pacific Log Home Park developer Hugo Verseput, who bought the land off a Maori trust. Efforts to contact the Dutchman were unsuccessful.
His original plan was to market the log cabins to Europeans seeking a sunny Southern Hemisphere beachside retreat from chilly northern winters. But for reasons unknown it failed to go ahead, leaving Mr Verseput retaining the land and cabin fronting the road for his family's holidays from their Eureka Park business in Holland.
Earthworks on the 1.6ha block began six weeks ago, with the Thorne Group planning to start construction of a show home in the next eight to 10 weeks.
Mr McFarlane said there had been a lot of interest in the tender process because of the location of the subdivision opposite the beach, with a shopping centre planned to be built next door in Coast Papamoa.
Thorne Group director Peter Buck said they would be offering a similar product to its medium density Urban Ridge subdivision between Brookfield and Bethlehem, except it would have a more beachside feel.
He anticipated that some of the demand would come from people wanting to downsize from their current homes and release equity, but without sacrificing quality.
"People's lifestyles are a lot more transient, and with that comes a desire for smaller sites that allow homeowners to lock up and leave."
Mr Buck said there was already a significant amount of interest in the pre-construction packages to be released early August. Thorne Group would come up with concept floor plans but they were flexible and would align with buyer needs. Titles were due in November.
Successful tenders started at $200,000 for lots averaging about 343sq m on the block at 2 Papamoa Beach Rd.
Twelve of the 35 lots offered for tender were handled by Eves Realty. Joseph Goddard said only two of the 45 inquiries received by Eves for the lots were from out of town - Auckland and Hamilton.
