Taupaki Subdivision

The client came to Creston Property to understand the best development pathway for a 5-hectare site in Taupaki. The land was a single rural block with an existing house.Before committing to a direction, we mapped 28 possible pathways, from how many lots to create to whether to sell, keep or rent the house and whether to build on any of the new lots. More lots or a new build would take longer and tie up more capital, so the question was whether the extra return would be worth the extra time and risk.We shortlisted the eight with the best balance of return, risk and deliverability and modelled each one in detail. Sale prices came from recent comparable sales at the lower end of the range. There was a strong supply of large lifestyle sections, with more coming to market, so we didn't assume prices would rise over the next two to three years, and any uplift would be upside rather than something the numbers relied on.For the options with more lots, we also weighed the wetland areas, how Auckland's Plan Change 120 might apply, and whether transferable titles would be available.Following the strategy stage, the client engaged Creston Property to manage the development process end to end. The project is now waiting for the new titles to be issued.