West Coast Residence
Hoyo Global is developing a subdivision block in Barrytown Flats, near Punakaiki, on the West Coast of the South Island on New Zealand.
The property is situated on the western side of State Highway 6 locally known as the Coast Road at the southern end of the Barrytown Flats. It is some 20 kilometres north of Greymouth and more or less midway between Greymouth, the main commercial centre or the West Coast and the World renowned Punakaiki and Papamoa National Park.
Surrounding development is mixed and mainly smaller blocks generally one and ten hectares with a sprinkling or larger properties including dairy and grazing farms and administered by DOC. Within the Barrytown Flats area there are two commercial entities being just north of the subject property and a tavern at Barrytown some five kilometres away. At Punakaiki there is a number of tourist orientated businesses while a wide range of services are available in Greymouth.
The purpose of this development is to offer the project to overseas investors to support the financial side of the project. There might be a possibility for the investors to apply NZ residency under business migrancy.
All properties are freehold and property re-valuations are performed every three years and Grey District Council uses these rating valuations to determine the calculation of rates.
Sections range in size from 1.00 ha to larger lots
Lots 6, 7 and 8 are being developed to accommodate a resort type accommodation due to huge shortage of accommodation supply through the area. Tourist accommodation (nationally and internationally) is being emphasised by the NZ Government.
Lot 6: will have 5x 3 storey town houses
Lot 7: will have a 2 storey building with 4 apartments at each floor (2 beds and 3 beds)
Lot 8: will be exactly same as lot 7
Each of the lots is serviced with underground reticulated power and telephone. We have not investigated the adequately of this and have assumed that there is sufficient for future development. If a residential house is built in this area water supply is by rainwater catchment and effluent disposal to a septic lank and soakage system.
The Coast Road is sealed while road is metalled. We understand this is to be sealed at a later date and a bond is held by the local authority.
The Grey District Council is the governing local body and zoning has been determined as a Rural Environment Area.
Covenants & Restrictions
This is a flexible rurally orientated zoning which allows a wide range of agricultural, forestry and recreation activities as permitted. It allows the subdivision of land down to one hectare titles excluding access subject to the proving of a building site.
Sales History in Area
With Barrytown being centred between Greymouth and Punakaiki which over the years has seen significant increases in population growth it would be obvious to assume that the overspill will increase into Barrytown. This in effect would in itself be a good time to invest in home and land packages that are now available in Barrytown. This statement is typical of the activity all over New Zealand with immigration still on the rise. So many investors have in the past stated if only we had invested a few years earlier before the prices started gaining momentum.
When looking at Barrytown, which is at the moment a small village there is so much potential for the future. It is sitting on the State Highway 6 between Greymouth and Punakaiki and is an ideal place for land development.