Te Atiawa Iwi Holdings LP Property Update

Te Atiawa Properties Information Evening

Te Kekeu
Muramura mai ana rā Te Kekeu Ahi-kā-roa, whitawhita iho Te Kekeu Ahi-kā-tonu. Rere kau noa te auahi o te haukāinga ki te rangi hei tohu oranga mā te iwi. nau mai e rarau

The first residential subdivision of Te Atiawa, Te Kekeu, is currently underway with completion anticipated at the end of July 2020. The process for making offers on the 6 sections being pre-released will be by a closed tender process with a “special market pre-release” listed price point. All registered iwi members that apply will be given a four week period to undertake their due diligence works on the completed sites, with the ability to access the site, all marketing and due diligence material, and unfettered access and interaction to the sales and marketing agent at McDonald Real Estate. Below are some key points about the process:

• Six Sections at Te Kekeu are being pre-released to registered iwi members by a closed tender process with a special market pre-release price point.
• 30 July 2020 will mark the start of the pre-release period.
• All members registered with Te Atiawa (Taranaki) will be given a four week period (starting 30 July 2020) to undertake due diligence works.
• Members will have the ability to access the site, all marketing and due diligence material, and unfettered access and interaction to the sales and marketing agent – Jason Mueli (027 428 9111) at McDonald Real Estate.
• Members will be required to submit their valid offer that will confirm their purchase price and any special conditions by 27 August 2020.
• If a particular property has multiple offers submitted, the offer with the best terms will be accepted (i.e. a cash buyer with no conditions will be successful over an offer with conditions). However, if all offers present the same terms, then a ballot will be carried out by the agent.
• Te Atiawa Iwi Holdings Limited Partnership will either confirm the recommendation made by the agent or, in the case of the ballot, will inform the necessary people and explain the process. The successful valid offers will be notified by the agent, as well as all unsuccessful offers.
• Following confirmation of the successful valid offers, the remaining sections will be released to the open market with a Buyer Enquiry Over (BEO) price point on 29 August 2020. Iwi members will also have an opportunity to participate in this process.

The agent to be contacted once these lots are pre-released to iwi members will be Jason Meuli at McDonald Real Estate on 027 428 6111.

Bell Street / Cracroft Street House and Sections
This subdivision will also be available to registered iwi members later in the year. Civil construction works will commence shortly with construction completion anticipated in August 2020. Further communications on the release of these houses and sections will be provided in due course.

• Two sections and four houses are also being pre-released to members – these properties are located at 10, 12, and 16 Bell Street and 9 Cracroft Street.
• Further information will be provided at the information evening on 30 July 2020
• Members will have the ability to access the site, all marketing and due diligence material, and unfettered access and interaction to the sales and marketing agents – Jason Mueli (sections) and Thomas Watt (houses) at McDonald Real Estate. Contact Jason on 027 428 9111 and Thomas on 027 666 6185.

Hudson Industrial Subdivision
An industrial subdivision is currently progressing through subdivision consent process with Council and is anticipated to be under construction September 2020. There are seven sections available, ranging from 2,015sqm to 8,520sqm, and these industrial sections will be released to the open market subject to titles in the coming weeks.

For any further information please contact Iain Taylor at Bayleys Real Estate on 021 473 253.