The real estate company responsible for marketing the Whakatāne District Council’s Piripai landholding reports “strong interest” from potential developers.
The Council engaged Colliers International to take the strategically-located, 26.9-hectare coastal property to the market and seek expressions of interest in its development. Expressions of interest close on 6 December and can focus on all or part of the landholding.
Colliers’ broker Alan Pracy says the call for expressions of interest has been advertised widely, in conjunction with a direct marketing approach to developers with a known reputation for high quality housing and retirement village development.
“Two weeks into the five-week marketing programme, a number of potential players have indicated an interest in the property and are undertaking the due diligence process required before confirming an expression of interest,” he says. “We’re still following up a number of contacts and at this stage of the process, I’m very happy with the progress made.”
Mayor Tony Bonne says the early market feedback is encouraging and is looking forward to the process of reviewing the expressions of interest and, further down the track, negotiating with parties which can offer a development plan that will make a positive, long-term contribution to the District.
“We see part of the land being developed as a retirement lifestyle village, so that our older residents no longer have to leave the District to find the lifestyle quality they are looking for in their golden years,” he says. “We’d also like to see development get underway relatively soon, and it’s essential that those involved are committed to establishing a strong and durable relationship with the Whakatāne community.”
Mr Bonne says any development approach must also be in general accordance with the Opihi Structure plan, which is set out in the Council’s District Plan and has been endorsed by the Environment Court.
In the meantime, work to develop a management plan for the buffer between the land set aside for development and the Opihi Whanaungakore Urupa to the west is continuing, in consultation with the Opihi Whanaungakore trustees and Te Rūnanga o Ngāti Awa.