This article is from the Australian Property Journal archive
AVJENNINGS has been selected by Hobsonville Land Company to develop the Catalina Precinct at Hobsonville Point in Auckland, New Zealand.
This will be the third precinct under development at Hobsonville Point and the second for AVJennings in the area, which launched into NZ in 2008 with the development of Buckley Precinct.
The Buckley Precinct, comprising over 750 home sites, was the first at Hobsonville Point to be developed and is now home to over 200 families with a further 260 homes coming to market this year.
“We are delighted to continue our partnership with AVJennings, which has developed a strong local team on the back of its impeccable credentials as a leading developer and builder of high quality, medium-density housing in Australia,” Hobsonville Land Company CEO Chris Aiken said.
“AVJennings has proven its New Zealand development capability with Buckley Precinct and its proposal for Catalina exceeded our expectations to deliver next-generation housing for Auckland,” he added.
Catalina Precinct comprises 15ha and is expected to yield more than 450 homes.
Aiken said the Catalina Precinct was one of Auckland’s first Special Housing Areas. Earthworks and infrastructure development had commenced on site, and the first new homes were expected to go on the market in December 2014.
AVJennings’ CEO Peter Summers said the Catalina Precinct agreement recognises and improves upon the successful development model AVJennings is employing at Hobsonville Point to deliver quality housing at pace to meet the Auckland demand.
“We’re committed to maintaining quality while ensuring the right balance between house size and house price ensuring homes remain accessible for everyday Aucklanders.
“The Catalina Precinct represents the continuance of a growth phase for AVJennings after a period of consolidation and cautious optimism in both the New Zealand and Australia residential housing markets,” he added.
Since Hobsonville Point commenced in 2009, 200-plus homes have been completed, a further 214 are under construction and 406 properties – a mix of apartments, terraces and standalone homes – have been sold, almost all of these off the plan.
AVJennings expects to complete the Buckley Precinct in 2015. Development of the Catalina Precinct is likely to take three years, and be completed in 2018.
Property Review
