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Te Atiawa Iwi Holdings LP Property Update

Te Kekeu Park
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

As previously communicated, the first residential subdivision of Te Atiawa, Te Kekeu Park, is currently underway with completion anticipated at the end of July 2020. Following this, the site blessing will take place which will also kick-off the start of the pre-release of 6 sections to registered iwi members of Te Atiawa (Taranaki). Further details in relation to the dates for this are dependent on construction completion and we will provide updates on this prior to the end of July.

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 iwi and hapū members that apply will be given a four week period (starting from the day of the site blessing ) 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.

On the closing date, members will be required to submit their valid offer that will confirm their purchase price and any special conditions; noting that all prospective purchasers will have a further 10-working days purchaser due diligence to confirm their purchase – unless the purchaser has indicated they do not require a due diligence period through the purchase process. The McDonald Real Estate agent will then present the offers to Te Atiawa Iwi Holdings Limited Partnership with recommendations. 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. 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.

Coronation Avenue Sections
A second smaller subdivision at 127 Coronation Avenue, Welbourn, has also recently completed the civil construction works. One lot has been sold and one lot is available on the open market. This lot is available with a Buyer Enquiry over $300,000.

For any further information or Expressions of Interest on this property, please contact Jason Meuli at McDonald Real Estate on 027 428 9111.

Bell Street / Cracroft House and Sections
A third subdivision will also be available to iwi members later in the year. This subdivision includes two vacant sections and four existing houses – located at 10, 12, and 16 Bell Street and 9 Cracroft Street.

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.

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 a number of 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.

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