Hamilton’s Peacocke plan back on agenda

6:02 PM Friday September 7, 2018 True Commercial

The Peacockes Rd site is approximately identified by a red border. Photo / Supplied

Earlier this year JLL’s John Binning and Chris Harding advertised for sale 5.2ha of proposed town centre rural land at 410 Peacockes Rd, Hamilton.

However, following discussions with the vendor it was agreed to put the sale on hold until the Hamilton City Council adopted its 10-year plan.

Now, with the 10-year plan operational, the Peacocke Town Centre land is back on the market, say the agents.

As a result, it is to be sold by Binning and Harding through an expressions of interest campaign closing at 4pm, on October 9.

Binning points out that, in effect, the new owner has a green light to enlist commercial operators to fulfil the original vision of turning the valuable property into a town centre.

“And this land is eminently suitable for such development,” he adds.

“The contour is level, with four of the five lots having frontage to Peacockes Rd. Only one lot (Lot 7) sits behind, however, this has access through Peacockes Lane. Lots 2 and 5 are 20,000sq m while Lots 3, 4 and 7 are smaller 4,000sq m sites.”

On the eastern periphery of Hamilton City, between Hamilton and Cambridge, Peacocke Town Centre will stand in the Peacocke Character Zone. This was put in place to ensure the Peacocke area would become a high quality urban environment, based on urban design best practice, environmental responsibility and social well-being.

“Hamilton remains one of New Zealand’s fastest growing cities; the council expects a further 20,000 residents within the next 10 years,” says Binning. “Peacocke Town Centre, with its position on the southern edge of the city, will be instrumental in catering for this growth and, as part of their 10-year plan, the Council is to invest $251m on infrastructure and transport upgrades.

“In June the council voted to accept a loan from the Government to help fund the infrastructure works in the Peacocke area. This will enable broader development and allow for about 10,000 new homes.

“A large amount of residential land has been purchased, or is under construction at present. New suburbs such as Amberfield — comprising 23ha and close to 1000 houses — will provide ready-made custom for the town centre.

“With this in mind, we expect interest from supermarkets, large retailers, cafes and restaurants. Basically a suburban shopping centre would bring this area to life,” he says.

With the plan in place, the roading near the site can be constructed. This includes a minor arterial road that will extend along the front of the property and meet up with a proposed collector road to the north and west. There is easy access to the proposed Southern Links transportation network, and existing State Highway 3.

“Last week the council opened tenders for the construction of a bridge that will provide a direct link between Peacocke Town Centre and the CBD,” explains Harding.

“This town centre property also has great access to Waikato Hospital and Hamilton International Airport. It is prime land and represents a limited pool of commercial land available in the wider Hamilton area.”

Statistics NZ predicts Hamilton will grow by 74,600 residents between 2013 and 2043, an increase of 50 per cent. This will take the total population from 150,200 to 224,800.

“The 10-year plan is exciting. It includes funding for a theatre, a recreation facility and park areas,” says Harding.

“This growth will inevitably present huge opportunities for businesses in the region. The Peacocke Town Centre land is in the ultimate position, to provide the commercial businesses to service the increased population in the area.”