Ashburton’s rising status as a national property hotspot continues with the launch of a transformative new subdivision on its outer edge.
The Smithfield Road residential subdivision on the northern outskirts of Netherby – appropriately named Smithfields – is a Golden Homes development out of Christchurch and it’s one of the biggest to emerge in Ashburton in recent times.
The subdivision comprises 60 sections, with house and land packages ranging from $639,500 to $899,500 and section sizes between 421m² and 595m². All packages are fully customisable, allowing buyers to adjust plans to fit their needs.
While it is dwarfed by the seriously impressive 66-hectare, 400-lot Strowan Fields’ subdivision, launched three years ago next month on the outskirts of Hampstead, the Smithfields’ project is still significant.
Golden Homes’ managing director Dean McGuigan and sales manager Heath Eckersley have already said they’ve had a “fantastic response’’, with a number of packages sold or under contract and well ahead of titles being confirmed so building could start.
But that reaction is what they expected, given the apparent confidence and interest in Ashburton real estate, including from outside the district.
“Ashburton is a thriving town with high growth potential, making it a prime location for this development,’’ Eckersley said.
“We saw it as a great opportunity to bring our quality homes to an area that’s evolving and attracting interest.’’
The key word there was “evolving’’ because that, according to real estate experts, is what is happening in the Ashburton District.
It appears Ashburton’s blend of rural charm and modern amenities, being just an easy hour’s commute to Christchurch and with an emerging café and restaurant scene were all factors helping attract buyers. Just as important was the changing face and growing multicultural feel of Mid Canterbury, with a tick over 25% of the population identified as non-European in the recent Census national head count. That, for newcomers, was seen as an important drawcard.
“We believe Ashburton offers a unique combination of affordability and lifestyle, making it attractive for both local and out-of-town buyers,’’ Eckersley said, slipping into real estate speak but with a telling message, nevertheless.
And it’s not just the residential house market that’s making noise because Ashburton was also being viewed as a commercial real estate development and investment opportunity.
The Guardian understands that the ANZ Bank alone has already signed off five commercial investment opportunities in the district in the past two months, more than its total for the past year.
That won’t surprise Tim Rookes, a broker from leading commercial real estate firm CBRE, which is handling the sale of the Woolworths South (formerly Countdown) supermarket at the River Crossing Precinct.
Rookes said Ashburton had traditionally been a farming hub, serving an affluent rural population base, but steady development, including town centre commercial projects and the waterfront housing project at Lake Hood, demonstrated the underlying wealth and potential in the area.
“Ashburton is becoming recognised as a worthy destination for property investment,’’ Rookes said.
Ashburton-based Chris Redmond doesn’t need to be convinced of that either. He’s a director of CBR Properties, which recently announced plans to transform the former Ashburton Public Library building, which it bought for $1.1 million, into a boutique hotel.
“It will be a significant asset to the community, enhancing the town’s hospitality landscape and boosting the local economy,” Redmond said.
Naturally, the Smithfields’ subdivision should also deliver a telling economic boost, and there’s history behind that claim. Golden Homes’ Eckersley pointed to the success his company had enjoyed with residential subdivisions of comparable size and scope throughout Christchurch and Canterbury.
“It’s an exciting time for the (Ashburton) district, with new opportunities emerging for those looking to be part of its growth,” he said.
By Daryl Holden
