PDA

View Full Version : Pegasus Town



COLIN
14-03-2006, 09:17 PM
This is creating heaps of interest - partially fed, no doubt, by the "largest model of its type in existence" which took 300 Chinese model-makers 6 months to produce and cost something like $7m. Its certainly an imaginative development - assuming Infinity can bring it off. A complete new town of 5,000 people, a short drive from central Ch-ch. "Play where you live" - or is it the other way round!
Prices for the lakeside sections don't look cheap (or perhaps they do, to yuppie Aucklanders) but they seem to have attracted a lot of interest if one is to judge by the options and bids already placed.
The first release of golf course properties will be at 12 noon on Thursday.
Check out the website - www.pegasustown.com

(No, I have no financial or other interest in the developer, the real estate agents, or anyone else associated with this venture - but I do hold some shares in the previous owner/developer, HQP, who left some of the settlement price on a deferred basis - about $10m out of the total $30m, if I recall correctly.)

Having done reasonably well out of the sharemarket in recent years, and given the current "peakiness" there, I must confess to being a little tempted to have a flutter on this development. Its not my usual style as having been a bit of a property investor in the past I am aware of the many pitfalls and all the developers/agents hype, etc., but ................... Pegasus could provide a bit of excitement! Don't knock excitement, but don't bet the bank, either!

Now, let me have all your negatives!

trackers
15-03-2006, 06:40 AM
500k for even the smallest of sections?? Don't think cantabrians will find that overly amusing - I'd rather pick up a section in the heart of fendalton

Get Real
15-03-2006, 08:44 AM
The model incudes a lot of very expensive infrastructure including aqua centre, golf course, lakes, golf course etc. I could not see in the documentation that the developer is obliged to include the infrastructure. This development has 50% more sections that Northwood but with a lot more infrastructure. I’m very sceptical

trackers
15-03-2006, 01:52 PM
Indeed, without a lot of support from a very good number of developers and businesses, this wouldn't even get close to getting off the ground....

They've brought the land and the model to go with it, not enough imo...

troyvdh
16-03-2006, 08:03 PM
isnt there something spooky about creating a perfect town.....it fair gives me the creeps....drive around Northwood.....what a cold Miamai-look-alike...

trackers
17-03-2006, 06:26 AM
quote:Originally posted by troyvdh

isnt there something spooky about creating a perfect town.....it fair gives me the creeps....drive around Northwood.....what a cold Miamai-look-alike...


yes indeed...
as an aside, noticed an ad on tv for this for the first time yesterday

ari
28-03-2006, 09:51 AM
quote:isnt there something spooky about creating a perfect town
http://www.celebrationfl.com/
http://www2.sjsu.edu/faculty/wooda/celebration.html

Yeah, real spooky.......

minimoke
22-01-2009, 12:31 PM
North Canterbury – is there something in the water. First there was Camp David at Waipara. Now Kyle Chapman is planning European Only mini-state next to Rangiora. Where else could this be – I hear Pegasus Town has lots of spare land.

If its not Pegasus Town then they might be in for a bit of competition from a close neighbour. Kyle is trying to top PT’s dive spots with: a protected community, a meeting house, a social bar and training grounds. You could swap the perhaps sterile Pegasus Town culture for one that avoids multi cultural brainwashing, safety in numbers, unity in brilliant European effort and supportive interaction with like minded people.

Kyle was a Mayoral candidate so why wouldn’t you want to join his merry band on this latest property development.

AMR
23-01-2009, 08:48 PM
How they will get by without Chinese made clothing, Japanese cars, and Arabic oil is beyond me....

What's Northwood?

minimoke
24-01-2009, 02:28 PM
How they will get by without Chinese made clothing, Japanese cars, and Arabic oil is beyond me....

What's Northwood?
Kyle isn’t into Japanese cars – he’s into your English land rover 4x4 – and not the new ones (who ever owns LR now). Probably not into Chinese clothes either – more your army fatigues available from the Army surplus store – probably ex US Marines would be his style.

As for Northwood, have you seen the TV programme about the woman dope dealer and it starts with the Little boxes tick tacky song. Can’t remember the name but Northwood (with all due respect those living there) is kind of like that. It has its gated community; “country Club” no buses (don’t want the noise to upset the residents) and loads of covenants on what the houses have to be like (like no front fences) certain coloured brick and tile. All very “nice”. Based on some North American concept of community design and creation.

lakedaemonian
25-01-2009, 04:54 PM
Kyle isn’t into Japanese cars – he’s into your English land rover 4x4 – and not the new ones (who ever owns LR now). Probably not into Chinese clothes either – more your army fatigues available from the Army surplus store – probably ex US Marines would be his style.

As for Northwood, have you seen the TV programme about the woman dope dealer and it starts with the Little boxes tick tacky song. Can’t remember the name but Northwood (with all due respect those living there) is kind of like that. It has its gated community; “country Club” no buses (don’t want the noise to upset the residents) and loads of covenants on what the houses have to be like (like no front fences) certain coloured brick and tile. All very “nice”. Based on some North American concept of community design and creation.

Bullseye!

Absolutely spot on...been a few mortgagee properties there already

Casa del Energia
26-01-2009, 02:28 PM
This is creating heaps of interest ........ Pegasus could provide a bit of excitement! Don't knock excitement, but don't bet the bank, either!

Now, let me have all your negatives!


God's teeth - I'm sorry I clicked on the URL, feel like puking now. All those nice Arian looking people in their nice cutsie artificial environment. The girl on horseback can't be true - there would be 15 million covenants against what comes out of the back of the horse.
And what about those old farts in the swimming pool - group swimming every Tuesday? No thanks. It just looks and feels like a place to go and quietly rot - I can hear the zimmer frame wheels squeaking from here - - Sorry, but I intend to wear out, not rust out.
Oh, Lord - save us from the types of people that are attracted to plastic worlds and unreal lifestyles that are insulated from reality. And quite frankly, I've long ago had more than my fill of up and coming bloaty headed yuppies who needed their heads pulled out of their rear ends before you can say 'hello' - - so what maniac would possibly think that I'd ever consider going near a place that would have high concentrations of such devils spawn.
Not that I'm prejudging anyone who would be so devoid of personality to ever want to live in such a tasteless and unimaginative environ. It is, after all, a free country that respects everyone's right to be as bland, featureless, dull, boring, kitsch, tedious and dreary as they like.

I hope I haven't upset anyone. Then again if they are upset - they are probably not someone I would be heartbroken about upsetting anyway.

minimoke
26-01-2009, 02:41 PM
God's teeth - I'm sorry I clicked on the URL, feel like puking now.
If you run out of self administered detox or bulimia tools here’s another link for you from the same people. http://www.mapleham.com/. I should probably put a “Viewer Warning” on it for you – but I’d much sooner see your considered opinion on this development.

minimoke
26-01-2009, 02:45 PM
As for Northwood, have you seen the TV programme about the woman dope dealer and it starts with the Little boxes tick tacky song. Can’t remember the name but Northwood

I’ve been worrying about it all night. Stepford Wives came to me, but its actually “Weeds”.

Casa del Energia
27-01-2009, 11:39 AM
If you run out of self administered detox or bulimia tools here’s another link for you from the same people. http://www.mapleham.com/. I should probably put a “Viewer Warning” on it for you – but I’d much sooner see your considered opinion on this development.

You are trying to kill me. Actually, it's my own fault - I ignored your warning and clicked on it. My retinas detatched, my brain atrophied into sludge and my bones decalcified in an instant.
Just before that - there was one moment of joy - a halarious moment: did you notice the 'nice' foto of some dude sitting by an open fire outside (presumably) the club house? The fuel for the fire looks exactly like the stuff that comes out of the horse which was in the Pegasus ad blurbs. I wondered what they did with the horse poo.

minimoke
01-03-2009, 06:22 PM
Big ad in todays SST but no mention of the South Africans

fungus pudding
01-03-2009, 07:11 PM
Big ad in todays SST but no mention of the South Africans

Or the Egyptians.

OutToLunch
03-03-2009, 08:44 AM
I couldn't help myself, I just had to take a look. These guys are too much! :D

http://www.mapleham.com/pegasus_town.htm

Casa del Energia
03-03-2009, 11:43 AM
I couldn't help myself, I just had to take a look. These guys are too much! :D

http://www.mapleham.com/pegasus_town.htm

I too looked. I knew I shouldn't have. And I was right...

But I can't help thinking that "Mapleham" might be some Pythonesque jape being played on folks - - Well, they can't be serious?

OutToLunch
03-03-2009, 02:53 PM
I too looked. I knew I shouldn't have. And I was right...

But I can't help thinking that "Mapleham" might be some Pythonesque jape being played on folks - - Well, they can't be serious?

Monty Python -- of course!! :eek:

I remember back in 2003 I passed through a new subdivision in outer Sydney, every pillared McMansion perfectly presented complete with shiny 4WDs on polished stone driveways... every couple of hundred metres there was a huge glossy sign on the roadside with a picture of happy perfect people and a single word caption like "PLAY", "RELAX" or "ENJOY". It was truly eye-popping. We couldn't get out of there fast enough, back past the immaculate gates to the outside world where there was at least a little bit of dust and long grass and real people with slight imperfections. My friend had warned me in advance that I would be shocked and she was right!

Please.. if I ever get to retirement age and start to lust after something like this, someone do me a favour and belt me over the head with a spade... really hard... :rolleyes:

Casa del Energia
04-03-2009, 12:36 PM
Monty Python -- of course!! :eek:

I remember back in 2003 I passed through a new subdivision in outer Sydney, every pillared McMansion perfectly presented complete with shiny 4WDs on polished stone driveways... every couple of hundred metres there was a huge glossy sign on the roadside with a picture of happy perfect people and a single word caption like "PLAY", "RELAX" or "ENJOY". It was truly eye-popping. We couldn't get out of there fast enough, back past the immaculate gates to the outside world where there was at least a little bit of dust and long grass and real people with slight imperfections. My friend had warned me in advance that I would be shocked and she was right!

Please.. if I ever get to retirement age and start to lust after something like this, someone do me a favour and belt me over the head with a spade... really hard... :rolleyes:

Hmm. All joking aside; it really is a little disturbing - artificial societies and environs are not sustainable in the broader sense - have a look at what's going on in Dubai now that reality has struck.

I'm in the camp which regard towns and communities as having to exist for real reasons - economic and social. Tinsel and tea with the neighbours only happens because these places defy entropy - - a concept in physics which says that you cant do anything without making a mess - to keep places like this '1950s American Dream' tidy and tickety-boo, then how many slums have to be created to support such a fantasy?

Oh - and as for the spade whacking - could you do similar for me and take me to Dr Lee-Enfield (please aim true, make it clean and quick). On second thoughts - let me join such a community today - - it should only take six months before I'm blackballed and run out of town. It will be a hoot.

minimoke
04-03-2009, 12:55 PM
Please.. if I ever get to retirement age and start to lust after something like this, someone do me a favour and belt me over the head with a spade... really hard... :rolleyes:
I’m not sure that’s the demographic they are aiming for. More your house and job package person would better suit. You are expected to walk as high volume mobility scooter movements are expressly prohibited by covenants. At least they have the decency to identify the potential of earthquake induced ground liquefaction.

fungus pudding
04-03-2009, 01:04 PM
Hmm. All joking aside; it really is a little disturbing - artificial societies and environs are not sustainable in the broader sense - have a look at what's going on in Dubai now that reality has struck.



What is going on in Dubai now that reality has struck? I was last there in Sept/Oct. when 'reality' was just striking. Nothing seemed to be changing. As far as I know there's still a lot of projects underway, albeit at a slower pace.

lakedaemonian
04-03-2009, 02:53 PM
What is going on in Dubai now that reality has struck? I was last there in Sept/Oct. when 'reality' was just striking. Nothing seemed to be changing. As far as I know there's still a lot of projects underway, albeit at a slower pace.

I've read a few articles about supposedly "thousands of cars" abandoned by expats at airport parking lots who appear to be returning home like it's the last flight out of Saigon in 75

lakedaemonian
04-03-2009, 02:56 PM
In regards to Pegasus Town, I just flew over it last week........still empty, and still an absolute eyesore from the air.

On a brighter note, I know of a few people gaining valuable low speed motorcycle experience on their learners licenses driving the empty streets of White Elephant Pegasus Town :)

minimoke
04-03-2009, 03:35 PM
On a brighter note, I know of a few people gaining valuable low speed motorcycle experience on their learners licenses driving the empty streets of White Elephant Pegasus Town :)
Ssh – Christchurch boy racers may get an idea!

fungus pudding
04-03-2009, 03:46 PM
In regards to Pegasus Town, I just flew over it last week........still empty, and still an absolute eyesore from the air.



You must have been looking at the wrong site from the air, cos their newspaper advt. described how busy and active Pegasus is and advised buyers to hurry up so as not to miss out.;);)

minimoke
04-03-2009, 03:55 PM
You must have been looking at the wrong site from the air,
Perhaps it was the $20m hotel and villa complex being built as part of the Waipara Wine Village

Casa del Energia
04-03-2009, 06:42 PM
What is going on in Dubai now that reality has struck? I was last there in Sept/Oct. when 'reality' was just striking. Nothing seemed to be changing. As far as I know there's still a lot of projects underway, albeit at a slower pace.

It's apparently all custard now - idle building sites, 50% drop in real estate value and people leaving in a hurry - apparently, if you owe money and can't pay - it means jail time - hence the abandoned cars at airports - leave or end up in the slammer.

lakedaemonian
04-03-2009, 07:52 PM
It's apparently all custard now - idle building sites, 50% drop in real estate value and people leaving in a hurry - apparently, if you owe money and can't pay - it means jail time - hence the abandoned cars at airports - leave or end up in the slammer.

yep...this is surely to blow over with the sun shining again by next tuesday :)

suntboy
17-03-2009, 04:27 PM
Just drove past and needless to say turned around and had a look
SCaRy!!!
Will end up being called Peg town (cos there are lots of them)
The only hope they have is the fact that the people down here (that I have met over the last two weeks ) are so racist they may well lock themselves away in this commune and live happily ever after
Sad Sad Sad

minimoke
17-03-2009, 04:37 PM
J the fact that the people down here (that I have met over the last two weeks ) are so racist
Ah – been experiencing some of our more broad minded views I see! Trouble with the locals here is that they haven’t had to deal with Taniwhas in their excavations so quite unused to some more creative cultural issues. Though it is rumoured some locals actually have met a Sth African and if you go to the right shopping mall it is said that you will actually see a real life Ethiopian.

minimoke
05-08-2010, 08:32 AM
Will end up being called Peg town (cos there are lots of them)
The only hope they have is the fact that the people down here (that I have met over the last two weeks ) are so racist they may well lock themselves away in this commune and live happily ever after
Sad Sad Sad
Well Sunt Boy you're right on one count. It really will be known as Peg Town. But on your other point us southern rednecks aren't so dense as to be buying into Peg town.

And it looks like it continues to flounder. Brookfield Multiplex quit its stake and Pegasus has just lost $239m worth of funding so there goes the waterfront and hotel developments. There will be no shopping precinct and there is no sign of the school. After all this time there are now only 156 homes built or under construction (and I'm not sure how many of those are spec or show homes). There are 46 section with plans in for building consent in - but how many will actually get built? The town was sold on the basis of having 7,000 residents and all these "flash" amenities but perhaps it will end up being another Rolleston. Look for competition from Prestons (6,000 residents and only 5km form Christchurch), then theres Delamain in Yaldhurst and

Arthur
05-08-2010, 04:24 PM
http://www.brookfieldmultiplexcapital.com/_uploads/documents/MDOF%20Investor%20Update%206%20July%202010%20FINAL .pdf

Invested Au?$28.7m originally. In the books at Au$16.4 and selling for $0.8m net. Can't go wrong with property mate!

minimoke
05-08-2010, 07:09 PM
. Can't go wrong with property mate!
Ah - but you can go wrong with property and Pegasus is looking like a prime example.

JBmurc
06-08-2010, 08:28 AM
Ah - but you can go wrong with property and Pegasus is looking like a prime example.

An Jacks-point(joke -point) 600k sections now not even selling for 250k (investors that paid the 10% dep on the 600k were told of how cheap they were getting them for LOL)

minimoke
06-08-2010, 10:31 AM
An Jacks-point(joke -point) 600k sections now not even selling for 250k (investors that paid the 10% dep on the 600k were told of how cheap they were getting them for LOL)
One of my "Golden Rules" is to NEVER buy into a bareland subdivision. For a start they are always come with lots of hype and promises which get the crowd excited but the hype often does not live up to expectations. You also never know what your neighbours will be like. Inevitably as sections fail to sell and developers move on Covenants become less useful. So you see early investors putting up their 500sqm house only to find the empty section next door gets a David Reid home five years later. I never could quite get my head around Jacks Point except it appealed to big noters who thought putting $1.5m into an empty property was a good idea. Same with Pegasus - why build out there when the elements are against you and its further from employment (which is needed to fund the mortgage and justify the Work Visa) than many other suburbs closer to town.

Serpie
06-08-2010, 02:13 PM
Pegasus isn't dead yet fellas.

fungus pudding
06-08-2010, 02:33 PM
Pegasus isn't dead yet fellas.

No, but neither is Phil Goff - yet.

minimoke
06-08-2010, 02:43 PM
Pegasus isn't dead yet fellas.Nope it sure isn't. But with only 156 houses built (or under construction) that suggests that the pulse of the 7,000 potential community is very weak. Sure it can be force fed cash and glitz and promise for a while yet but at some point the heart beat needs to get stronger otherwise Woodend will have a rotting corpse on its backyard with grave robbers rushing in to nab the flash bits before they decay too much. People who bought at Rolleston 30 years ago were pretty patient - I don't think the buyers into Pegasus have that kind of stamina.

Arthur
10-08-2010, 04:51 PM
Please share Serpie. Looks to me like the residents will have all the space of a lifestyle block without the hassles. What will be the critical mass kickstart? The school is only a few pupils away from applying to treasury to move to Pegasus, that could be a bit of a boost, but maybe not enough. If I was the developer I'd be subsidising some families to move their kids to the area.

The Rolleston comparison seems a bit harsh - walking to the prison is not everyones cup of tea. Having a lake, beach, golfcourse, wetland etc within walking distance should appeal more. If I was a retired Cantabrian I'd think about the attractions (perhaps an old folks home is whats really needed). There are enough attractions there to be entertained and attract the kids and grandkids for a visit. If the heated pools and playground get built, even more so.

I'd be tempted to buy a section for around $40k....

fungus pudding
10-08-2010, 04:57 PM
I'd be tempted to buy a section for around $40k....


What's the current asking price?

winner69
10-08-2010, 06:03 PM
What's the current asking price?

trademe have heaps $170k - $200k. One on there for $400k

The finished houses for sale don't look that inspiring

Arthur
10-08-2010, 06:25 PM
Lowest asking price around $150 K, they sold a few for less than that in the last silent auction. They still have a few in the golf course area around 700k asking...I don't think that there have been too many private sales as buyers are holding out for close to what they paid.

fungus pudding
10-08-2010, 06:34 PM
trademe have heaps $170k - $200k. One on there for $400k

The finished houses for sale don't look that inspiring


No. Just had a look at some. Probably as good as you'll see at the prices asked though.

Serpie
10-08-2010, 09:37 PM
Please share Serpie
Watch for a change of tack out there Arthur. This is nothing like Rolleston.

minimoke
11-08-2010, 06:50 AM
Watch for a change of tack out there Arthur. This is nothing like Rolleston.
Sure the design concept is nothing like Rolleston but the time to build may be. I'll be out that way in the next week or so and will check it out again but how is the ground water at the moment. North Canterbury seems to have more rain this year than many previous. I guess the sand base will help local drainage though.

I wonder what they will do to change tack to bring in the builders. The house / land packages appealed to some Pom's but a few of them have re-sold already. The Home / Jobs scheme for South Africans doesn't look like its been much of a success. In the meantime the modest $500k sections seem to be being onsold for a whole lot less than this - so someone is taking a bath.

The tourist destination idea seem to have merit - but hasn't that already been tried with Waipara Village - and I don't think a sod has been turned out there. So they just need a $12m corporate investor. An investor would need to weigh the hot pool attraction against the Hamner Spring hot pools and the potential pools at Porters (?). And as a destination could it compete with, say, Akaroa. And they need to make sure they keep building a town that is "child" friendly rather than adult friendly otherwise the Min of Ed might pull its funding for a school. The Yaldhurst subdivision certainly hasn't seen the change in school demographics they had expected.

Any insights into what will make this vision happen?

Arbitrage
12-08-2010, 10:34 AM
Certainly not the easterly blowing sand across the subdivision each afternoon.

Christchurch is strange in that property prices are highest nearer the airport and lower nearer the coast (where Pegasus is also located.) A recent trip to New Brighton amazed me how run down the place looked with many of the houses quite delapidated. As an alternative to Pegasus, this would have to a cheaper option if you wanted to be near the beach and it is closer to town.

percy
13-08-2010, 07:58 PM
I went and had a look today.Was a lot larger than I thought it would be.A long way from anywhere.45minutes to ch-ch.Would cost a fortune in petrol to drive to and from work.Miles away from a pak 'n save.Other than golf course nothing else much there.Nice view of the mountains.I would expect it would be very hard to sell a house there.If you want kids at a good school you would have to commute to ch-ch.That would be a hassel..Yes the easterly would be strong there. Trying to drive on Main North Road would also be a hassel. Banked up to Belfast in the morning.Sorry not for me.

p2r
13-08-2010, 10:05 PM
OK so where are all the baby boomers going to move to when they retire over the next few years? Mary Holm last week thought Rotorua as hospital, golf, etc. I think Waikanae. But many will stay wher ethey are.

fungus pudding
14-08-2010, 08:11 AM
OK so where are all the baby boomers going to move to when they retire over the next few years? Mary Holm last week thought Rotorua as hospital, golf, etc. I think Waikanae. But many will stay wher ethey are.

Mary Holm's column last week was a reply to a correspondent who thought that. It wasn't her view. Her opinion was it was probably some hopeful tryong to wind the market up - I reckon she is right. I'm sure the vast majority won't shift anyway, or certainly won't shift far.

minimoke
16-08-2010, 08:17 AM
I went and had a look today.Was a lot larger than I thought it would be.A long way from anywhere.45minutes to ch-ch.Would cost a fortune in petrol to drive to and from work.Miles away from a pak 'n save.Other than golf course nothing else much there.Nice view of the mountains.I would expect it would be very hard to sell a house there.If you want kids at a good school you would have to commute to ch-ch.That would be a hassel..Yes the easterly would be strong there. Trying to drive on Main North Road would also be a hassel. Banked up to Belfast in the morning.Sorry not for me.
A year on since I was last out there so thought I better have another look around.

I guess you have to admire the balls and vision of someone coming up with the idea of building a new town and certainly some of the concepts have merit. But like Percy its still not for me.

It is a wee way from Christchurch (30 minutes in the weekend with no commuter traffic - so that meas there are lots of other suburbs a lot closer to the CDB than Pegasus. Its not far from the Northwood Super Centre (around 15 - 20 minutes) but there are loads of subdivisions a lot closer.

I can't figure out why they built the town so far off the main road with the golf course on the State Highway - I would have put the town by the main road and the golf course down by the swamp.

Still a lot of empty land. No real sign of Mapleham being built - except the golf course which had people on it. It must be big because everyone was in those little motorized cart things.

Coming into the town, its a long way to the General Store "Four Square!" (why isn't this built by the main road?) and I bet Pegasus are paying the owner to be there. Ands whats with the poxy rentals near the store - ugly!. Good luck also to the coffee shop (grindary?) owner - I only saw three residents in the drive around plus a few builders and not much else. Certainly no open windows in any of the houses. Where is everyone - there are supposed to be 500 people out there?

Surprised by the lake. It is very small. I got the idea you could get out there in your yacht or do some water skiing. No way. A couple of Optimists on the water and its going to be crowded. Also not sure who will be paying to keep the algal blooms out of the water - a major problem!.

Also surprised about the size of the sections. very small / narrow, with narrow streets. It looks open now but once houses are built it is going to be very very tight. Also not impressed by the style quality of houses being built. Some are plain cheap and ugly - others lacking any particular style. Lots of sections for sale (apparently quite a few original owners defaulted on their purchase and sections are on their second / third owner. A few rentals (why rent out there??) and a few "Reduced Price" sales. Home and section packages going for less than $500k so someone is taking a bath on these. A few houses being built but virtually no concrete pads down and I couldn't see any pegs - so perhaps once this build is complete thats it for a while.

The swamp is close and I hope their storm water systems are up to the run off once all the bare land get covers with houses and concrete.

Would I want to live there - No. There just isn't anything that makes it stand out as an attraction compared to other places. Some sections are so far away from the lake you'll end up driving there so why not just drive from town of you really want a swim. The golf course might be an attraction for those that play golf (and its a drive away) - but I think Clearwater would be a better option here. Raising kids - no. There is no school and the nearest high school (Rangiora) is miles away. If you are into water birds Travis county is cheaper and closer and no doubt just as damp. The commute won't be easy now and will be a lot worse by the time the town is fully built.

Would I invest there - a resounding no. There is simply nothing to make it competitive.

percy
16-08-2010, 12:41 PM
A year on since I was last out there so thought I better have another look around.

I guess you have to admire the balls and vision of someone coming up with the idea of building a new town and certainly some of the concepts have merit. But like Percy its still not for me.

It is a wee way from Christchurch (30 minutes in the weekend with no commuter traffic - so that meas there are lots of other suburbs a lot closer to the CDB than Pegasus. Its not far from the Northwood Super Centre (around 15 - 20 minutes) but there are loads of subdivisions a lot closer.

I can't figure out why they built the town so far off the main road with the golf course on the State Highway - I would have put the town by the main road and the golf course down by the swamp.

Still a lot of empty land. No real sign of Mapleham being built - except the golf course which had people on it. It must be big because everyone was in those little motorized cart things.

Coming into the town, its a long way to the General Store "Four Square!" (why isn't this built by the main road?) and I bet Pegasus are paying the owner to be there. Ands whats with the poxy rentals near the store - ugly!. Good luck also to the coffee shop (grindary?) owner - I only saw three residents in the drive around plus a few builders and not much else. Certainly no open windows in any of the houses. Where is everyone - there are supposed to be 500 people out there?

Surprised by the lake. It is very small. I got the idea you could get out there in your yacht or do some water skiing. No way. A couple of Optimists on the water and its going to be crowded. Also not sure who will be paying to keep the algal blooms out of the water - a major problem!.

Also surprised about the size of the sections. very small / narrow, with narrow streets. It looks open now but once houses are built it is going to be very very tight. Also not impressed by the style quality of houses being built. Some are plain cheap and ugly - others lacking any particular style. Lots of sections for sale (apparently quite a few original owners defaulted on their purchase and sections are on their second / third owner. A few rentals (why rent out there??) and a few "Reduced Price" sales. Home and section packages going for less than $500k so someone is taking a bath on these. A few houses being built but virtually no concrete pads down and I couldn't see any pegs - so perhaps once this build is complete thats it for a while.

The swamp is close and I hope their storm water systems are up to the run off once all the bare land get covers with houses and concrete.

Would I want to live there - No. There just isn't anything that makes it stand out as an attraction compared to other places. Some sections are so far away from the lake you'll end up driving there so why not just drive from town of you really want a swim. The golf course might be an attraction for those that play golf (and its a drive away) - but I think Clearwater would be a better option here. Raising kids - no. There is no school and the nearest high school (Rangiora) is miles away. If you are into water birds Travis county is cheaper and closer and no doubt just as damp. The commute won't be easy now and will be a lot worse by the time the town is fully built.

Would I invest there - a resounding no. There is simply nothing to make it competitive.

I agree with you.I think you have been fair in your comments.

minimoke
16-08-2010, 01:22 PM
Oops - forgot to mention the dive center. Apparently they have sunk a ship in the lake and it will be a great "sunken ship" dive attraction and you will be able to hire gear from the Dive Centre. Um - the lakes only 4m deep!!!

fungus pudding
16-08-2010, 01:27 PM
Oops - forgot to mention the dive center. Apparently they have sunk a ship in the lake and it will be a great "sunken ship" dive attraction and you will be able to hire gear from the Dive Centre. Um - the lakes only 4m deep!!!

That's alright - unless you're 5 metres tall. :D

Serpie
16-08-2010, 01:41 PM
It's marketed as a fun, safe diving experience (if it ever happens). I've done my dive ticket, but I'd probably still take the kids there to see if they like the experience.

It also allows them to run dive courses and service that part of the coast line, but as a stand alone business I would imagine it would need to be heavily subsidised for a long time in order to survive.

minimoke
16-08-2010, 02:07 PM
It's marketed as a fun, safe diving experience I guess it is - but thats misleading, mischievous and wrong. 4m is a nice snorkeling depth (in my opinion with a couple of tickets) and if anyone thinks they can do a dive course in a 4 metre community lake is deluded. I can just imagine it being like one of those useless Hotel courses which will leave punters thinking "great I have my ticket now lets see if we can get some Cray and Kina in 30m off Kaikoura!". Oh well, each to their own. If they think there is much to look at in the coast off Pegasus town good luck to them. There will be some cheap dive gear coming to market in years to come!

I also get the sense that any business entering Pegaus will need to be heavily subsidized for quite some time. There isn't the population and unlikely to be enough any time soon. Its also a bit off the beaten track making it a destination town rather than somewhere you'd stop to fill your tanks or grab a coffee or meal - especially with the Gateway just down the road

Serpie
16-08-2010, 02:34 PM
if anyone thinks they can do a dive course in a 4 metre community lake is deluded.

Bloody hell - when Minimoke calls you "mischievous" then you know you've got problems!

Having a couple of tickets you'll know that the bulk of the instruction can be carried out in the lake, and they'll just need to complete the course with open water dives. But I agree that it's a pretty rough environment to be cutting your teeth in that neck of the woods, and a pretty bad advertisement for diving.

I'm also surprised that they haven't put the commercial properties nearer the highway. I would think they would have a better chance of survival and prosperity if they could access the passing traffic. Mind you - if youre stopping for supplies in Pegasus and Woodend then you haven't planned your journey north very well.

minimoke
16-08-2010, 02:46 PM
Bloody hell - when Minimoke calls you "mischievous" then you know you've got problems!
.
Perhaps I'm being a tad harsh - but would you take your kids snorkling in the Groynes. I wouldn't - and thats got moving water. Swimming pools don't have ducks - which is why i reckon they will still be the initial training ground of choice for most dive centres.

Pegasus doesn't have a Prenzels - so there is at least one reason for stopping at Woodend - and its got that cute wee train in the park!

minimoke
24-08-2010, 06:44 AM
Heard on the radio an ad from Stonewood homes. House and land package for $355,000. Average price of sections when Pegasus first went on the market in 2006 was around $220k. I think buyers were anticipating something a bit flasher than $355,000 property sales. See also ab ad for 460 sqm land. Bought for $166k now asking $148k. Its tough out there.

trackers
24-08-2010, 09:58 AM
Heard on the radio an ad from Stonewood homes. House and land package for $355,000. Average price of sections when Pegasus first went on the market in 2006 was around $220k. I think buyers were anticipating something a bit flasher than $355,000 property sales. See also ab ad for 460 sqm land. Bought for $166k now asking $148k. Its tough out there.

Amazing.. Went for a cruise out there on Sunday too, but can't ad much more than you've put about the place above. I think the prices are starting to look somewhat attractive to retirees though now (i.e those that don't need to leave the place a lot and can do their shopping at northwood supa centre), but they will certainly never fill out the place and I wonder what infrastructure they will end up with.

For sale signs everywhere, saw a couple at around the $140k mark too. $350k is pretty awesome for house and land, but could never justify a 45min drive each way to town every day, bugger that

Footsie
24-08-2010, 11:11 AM
this development looks interesting and good value.
I'm from the North Island. What do you ChCH folk think of pegasus.
If I was giong to relocate to the North Canty area should i buy here (seems cheap with good facilities) or go to Rangiora or out in the country?

I have a budget of around $750-800kk ,

airedale
24-08-2010, 07:18 PM
this development looks interesting and good value.
I'm from the North Island. What do you ChCH folk think of pegasus.
If I was giong to relocate to the North Canty area should i buy here (seems cheap with good facilities) or go to Rangiora or out in the country?

I have a budget of around $750-800kk ,
Footsie, you could buy the best house in Rangiora for that money. You could certainly get something decent in a good part of Rangiora for much less than that.
If you want to be in a town then Rangiora has a lot going for it,good shopping locally and only about 30 minute drive to Chch.
If you bought in Pegasus then you would probably still drive to Rangiora for your shopping.
If you want a lifestyle block then look at Ohoka , or Loburn which are still handy to Chch.

fungus pudding
24-08-2010, 07:59 PM
this development looks interesting and good value.
I'm from the North Island. What do you ChCH folk think of pegasus.
If I was giong to relocate to the North Canty area should i buy here (seems cheap with good facilities) or go to Rangiora or out in the country?

I have a budget of around $750-800kk ,

I'm not from Canterbury, so may be talking through a hole in my head, but I kinda like Oxford, even though I've only ever passed through it. http://www.oxfordnewzealand.co.nz/ It's about the same distance from Ch-ch. If I need straightening out I'm sure someone here will do just that.

minimoke
25-08-2010, 12:43 PM
this development looks interesting and good value.
I'm from the North Island. What do you ChCH folk think of pegasus.
...
I have a budget of around $750-800kk ,
I believe if you were to spend that amount in Pegasus you would, over say three years, learn how to create assets worth $500,000.

It really depends where you are at in life and what sort of lifestyle you want.

If you have no kids you'l presumably need to work so Nth Canterbury is a commute and it will only get worse as the area grows and commuters try to get over the Waimak bridge.

If you have kids you then have the issue of commuting an schooling and carting then to regional activities - expect to put a lot of KM's on the car

If you are retired / near retirement access to health facilitates is a reality and outside Rangiora not a lot to support you.

$800k will get you a nice bit of something somewhere

Disc. Done the North Canterbury thing - now back in the city.

minimoke
25-08-2010, 12:53 PM
I think the prices are starting to look somewhat attractive to retirees though now (i.e those that don't need to leave the place a lot and can do their shopping at northwood supa centre), but they will certainly never fill out the place and I wonder what infrastructure they will end up with.

I'm inclined to agree. I think they should replace the Primary School with a health Centre.

Footsie
25-08-2010, 03:23 PM
Hmm, thanks .
I have young kids and also a desire to have some land or be near land for horses. Mrs footsie was a competitive rider and wants to get back into it.
Also sick of the Auckland rat race and if you want a decent 4brm house in AKL its 1m+ and if you want land with 4brm well again its $1m+ and you will be as far north as warkworth before prices decline.
To get horsey land in Cleveland/Kumeu/Coatsville. its $2m

So with that in mind any more ideas? Perhaps I could be CHCH fringe , near some grazing land? I do need to be reasonably clsoe to schools of course.

minimoke
25-08-2010, 03:45 PM
Hmm, thanks .
I have young kids .
There your key!
Theres a clear choice. Does your wife travel on her own to her horses whenever she likes or
do you cart the kids to school, pony club/sportsclubs/friends everyday maybe a few times a day.

I've done the "lifestyle" thing - lasted 6 1/2 years which is about 3 1/2 years longer than average. School bus 1km down the drive; 15 km to school if the bus was missed. 18 km round trip to get the sunday paper. I'd recommend it - but it ain't as romantic and easy as you might think. (I've also done the shoveling horse**** in the middle of winter and that aint no fun). Country schools are fantastic (with limitations) but how close is close?

RRR
25-08-2010, 05:26 PM
Interesting discussion and some very good advice from MM-thanks. I was interested in lifestyle property too but decided to live well within my means and close to amenities and schools. Turned out to be a good decision.

percy
25-08-2010, 07:11 PM
I think you should look at renting for say a year and use that time to look around.A big turnover in lifestyle blocks.As previous posts, Rangiora has good facilities with good primary schools,but high school does not have a good name.North of the waimak Ohoka,clarkville and Swannanoa have good schools. But coming in and out of ChCH on north road is terrible.Towards the hills or south of waimak there are nice areas such as West Melton,Yaldhurst,Weedons,Templeton,Lincoln,Prebble ton, and halswell,all with very good Primary schools,while Lincoln has a good high school.I should warm you.If realestate agents heard about you, and the money you are looking to spend ,you will not get a moment of peace.You may find you wish to be near a pony club.

airedale
26-08-2010, 07:57 AM
" But coming in and outout of ChCH on north road is terrible."

Hi Percy, if Footsie is used to dealing with the Akld motorway system, then getting in and out of Chch is still a breeze by comparison.....even on the northern side. I left Akld nearly 10 years ago and much prefer it in Canterbury........not quite one-eyed yet, but getting there.

jmsnz
26-08-2010, 02:18 PM
Hmm, thanks .
I have young kids and also a desire to have some land or be near land for horses. Mrs footsie was a competitive rider and wants to get back into it.
Also sick of the Auckland rat race and if you want a decent 4brm house in AKL its 1m+ and if you want land with 4brm well again its $1m+ and you will be as far north as warkworth before prices decline.
To get horsey land in Cleveland/Kumeu/Coatsville. its $2m

So with that in mind any more ideas? Perhaps I could be CHCH fringe , near some grazing land? I do need to be reasonably clsoe to schools of course.
Footsie,

It really does depend on what you want/expect. I can appreciate all of the 'negatives' posted here, though for me personally I can also negate all of them.

I live in Swannanoa and have a 20 minute drive to the office, mostly on open roads. Many of my co-workers commute much longer times and live in town.

The local primary school is a 5-10 minute bike ride away, the high school bus is at the gate, the community sports facility (Rugby, Cricket, Netball, Tennis, Squash, Archery, Pony Club, Kennel Club, Rodeo, Western Riding, Touch Rugby) less than 10 minutes drive and Rangiora and Kaiapoi both about 10kms for swimming, shopping and BMX.

At home the kids have their go-kart, mum her donkeys and chickens and dad his sheds and cars. I can play force-back with the kids on the front lawn and the boys can go exploring around our place or the neighbours.

It isn't all roses, and certainly can be a lot of work, but the trick is to relax, don't sweat the small stuff and get the place organised to minimise the amount of work.

If you are looking to move, there are several key things I would look for, some specific to Canterbury:
- Wind protection
- Water. Anything will grow, but everything will die in summer without water
- Proximity to the services your family needs/uses the most
- Accept you aren't 'in town' and get involved local so you are living locally

Hope that helps.

Cheers

jmsnz

Disc: Moved out to Swannanoa 10 years ago and still enjoying it

Footsie
26-08-2010, 03:00 PM
thanks everyone
I think the best thing to do is come down to chch for a visit. drive north and see what its like for myself.

as for traffic. I cant see that being an issue.

as a teen my parents did the queen st farmer thing for a few years. It was good fun having all the land and space but after a while the drive to get milk the drive to see friends to school etc became a serious pain.

my personal preference is to be city fringe and have the wife commute to her horses.

anyway i'm just keen to check out pegasus out of interest.

ratkin
26-08-2010, 06:19 PM
Footsie, avoid pegasus like the plague, dont even think of moving there.

If you must live off the northern end of chch then woodend is better, fairly cheap and a little piece of land for a horse would be cheap enough.

Better still is to live somewhere like haswell , much closer to town and it avoids the northern routes which have terrible traffic problems at peak hours.
Another good option is to just graze a horse on someone elses land , plenty do that

jmsnz
26-08-2010, 08:31 PM
Footsie, avoid pegasus like the plague, dont even think of moving there.

If you must live off the northern end of chch then woodend is better, fairly cheap and a little piece of land for a horse would be cheap enough.

Better still is to live somewhere like haswell , much closer to town and it avoids the northern routes which have terrible traffic problems at peak hours.
Another good option is to just graze a horse on someone elses land , plenty do that
Footsie,

Agree with Ratkin re Pegasus, but also anywhere coastal in Canterbury has exposure to the dreaded easterly wind - which is nasty, so Woodend doesn't avoid that.

Don't agree with all of these negative comments re the northern routes, people make it sound like some sort of permanent gridlock. It really depends where you are coming from and going to, you can't generalise. My commute is about 20kms and takes 20-25 minutes - where is the issue in that? Prior to that my office was 5km further away and my commute was 40-45 minutes. The difference being it went past 3 schools in 'better' suburbs and so you have to navigate through the mums and their tractors.

If you are serious, you REALLY need to come and look for yourself.

Good Luck!!!:D

jmsnz

mikeo
30-08-2010, 04:27 PM
I'd go for yaldhurst out of all of the areas discussed. Nice and close to town, avoid the bottleneck to the north (I would avoid like the plague - it is bad enough now, if pegasus etc ever take off it will get worse), close to riccarton showgrounds which I'm guessing would be an advantage to horsey people, and probably much better resale for the future. Probably more expensive than the likes of Ohoka etc but you get the best of both worlds and on your budget you should be fine. If you are into skiing then it probably shaves a bit of time off the run to the skiifields too...

mikeo
30-08-2010, 04:29 PM
also - don't think anyone has mentioned tai-tapu. Personally I don't see the appeal and seems extremely expensive for what you get but there is a nice winery out that way and cyclists seem to love it. Might be worth a look still?

percy
30-08-2010, 08:52 PM
also - don't think anyone has mentioned tai-tapu. Personally I don't see the appeal and seems extremely expensive for what you get but there is a nice winery out that way and cyclists seem to love it. Might be worth a look still?

I forgot Tai Tapu.Good school.I think the Old Tai Tapu Road properties are still expensive,but there are a lot of Lifestyle blocks between Tai Tapu,Lincoln,Ladbrooks and Halswell.
Some on it is low lying land and can be damp.Well I suppose everywhere is damp after all the rain we have had.

minimoke
31-08-2010, 09:05 AM
but there is a nice winery out that way

If its a nice winery your after then we are back to Pegasus Town. Only a bit down the road from Pegasus Bay winery which I'd rate as the No.1 winery in Canterbury.

airedale
31-08-2010, 03:42 PM
If its a nice winery your after then we are back to Pegasus Town. Only a bit down the road from Pegasus Bay winery which I'd rate as the No.1 winery in Canterbury.
I don't rate living close to winery as something desirable when the frost machines and bird scaring guns are going full blast. They are nice to visit occasionally, but the supermarkets have got plenty of good wine,reasonably priced. Which bring us back to Rangiora where there are two....soon to be three....such sources of good wine.

Footsie
31-08-2010, 04:46 PM
Right booked a trip for later this year.
What is ppl's view on Woodend and Loburn?

thanks

percy
31-08-2010, 05:09 PM
Right booked a trip for later this year.
What is ppl's view on Woodend and Loburn?

thanks

Nice areas.With the price you are looking to spend I think you will be surprised with what you will get.Some beautiful lifestyle blocks to choose from.Loburn is lovely with rolling countryside.Prices not so high as Ohoka.

jmsnz
31-08-2010, 07:52 PM
Right booked a trip for later this year.
What is ppl's view on Woodend and Loburn?

thanks
Footsie,

Both cover reasonably large areas so you will find nice places in both. Woodend is coastal so be careful of the easterly wind there - it can turn nice days frigid and was one of the most noticable things when we moved inland.

Some parts of Canterbury are 'damp' which in our terms means swamp. Certainly significant parts of Woodend, Ohoka and then Tai Tapu, Greenpark etc can be very wet.

Whilst no commute will be of Auckland proportions, think about the route you need to take. Woodend will consign you to the full northern motorway whilst from Loburn you will join all of the Rangiora commute down Lineside Road which can be a bit painful. Ohoka and similar will be much better as you will join near the end of the northern motorway. A lot depends where you are going to.

Not sure when 'later this year' is but if I am about would be happy to show you around a bit if that is of any help.

As Percy said, with that sort of budget I would expect you will have plenty of choice.

Cheers

jmsnz

goyougoodthing
02-09-2010, 12:34 PM
Thought I would try and pick some your brains about the current subdivsions in Christchurch.

We are currently looking at building our first house. Originally we liked the idea of Gainsborough out in West Melton,
but the more we look into it the more we think its probably just out of our reach, mainly due to having to have a minmum size house of 250m. So, insteaad of this we are considering looking in town for a smaller section, 650m+, building a high spec home, trying to pay off what mortgage we would have in the next 5 years, then look to sell and build a bigger house on a bigger section.

Out of the main subdivisons in CHCH, which would you consider the best bet for holding and increasing in value. We have looked at the following, and these are our current thoughts:

Aidanfield- nice, but the motorway going in the back of it could be a concern for trying to sell in the future??

Delamain- those powerlines that run through are a big turn off, but if we were far enough away from them it could perhaps be a option.

Linden grove- relatively cheap, but borders on Sunnyside mental health hospital, so not to keen.

Northwood- neither here nor there at the moment, pretty neutral, seem to be paying a bit of a premium..(then again is it a case of you get what you pay for??)

Burwood/Waitikiri- too pricey for what they seem to want/hard to find any sections for sale at all.

Are there any others that we should be considering? We have looked at Rolleston as well, but really didnt like the feel of it compared to West Melton, so have pretty rules that out which is a shame as theres some cheap dirt out there.

Any thoughts or advice anyone could give us?
Our budget for house and land is 500k.

Cheers
Paul

percy
02-09-2010, 06:01 PM
Thought I would try and pick some your brains about the current subdivsions in Christchurch.

We are currently looking at building our first house. Originally we liked the idea of Gainsborough out in West Melton,
but the more we look into it the more we think its probably just out of our reach, mainly due to having to have a minmum size house of 250m. So, insteaad of this we are considering looking in town for a smaller section, 650m+, building a high spec home, trying to pay off what mortgage we would have in the next 5 years, then look to sell and build a bigger house on a bigger section.

Out of the main subdivisons in CHCH, which would you consider the best bet for holding and increasing in value. We have looked at the following, and these are our current thoughts:

Aidanfield- nice, but the motorway going in the back of it could be a concern for trying to sell in the future??

Delamain- those powerlines that run through are a big turn off, but if we were far enough away from them it could perhaps be a option.

Linden grove- relatively cheap, but borders on Sunnyside mental health hospital, so not to keen.

Northwood- neither here nor there at the moment, pretty neutral, seem to be paying a bit of a premium..(then again is it a case of you get what you pay for??)

Burwood/Waitikiri- too pricey for what they seem to want/hard to find any sections for sale at all.

Are there any others that we should be considering? We have looked at Rolleston as well, but really didnt like the feel of it compared to West Melton, so have pretty rules that out which is a shame as theres some cheap dirt out there.

Any thoughts or advice anyone could give us?
Our budget for house and land is 500k.

Cheers
Paul

Paul.I will start it off and hope more experienced posters point out my mistakes.
I take it you are young and will have children.I would first of all check out if it is cheaper to build rather than buy an existing house.I think if you went into any of those areas you mentioned, and said you were looking to buy a house you would not come out alive.!!!.I know there are a lot of houses for sale in Aidanfield and Rolleston. In fact I think a lot are rented out as they cannot be sold.Areas come and go but new areas do not hold resale value.Schools,or more to the point school areas are very important.Boys High school zone,GHS zone.Cashmere High school zone.Riccarton High School.
Thornington,Russley,Cashmere,Halswell,,Yaldhurst,p rimary schools have excellent names and people will pay a premiun for a house in those zones.Hornby high School ,Aranui,Mairehau,Linwood college zones are poor real estate areas.

minimoke
03-09-2010, 08:51 AM
Thought I would try and pick some your brains about the current subdivsions in Christchurch.


Paul - I agree with Percy. We need to get a feel for what your broader circumstances are. School zones are very important for capital value. Teh commute in a few years wil be imporatns. What you do in your spare time is important - theres just load of factors. You also probably need ot think not so much about what you want - but wha twill the next buyer of your "hopme" want - are you going to build the right house whcih will appeal to teh next buyer.

Regardless of circumstances I'd stay well clear of Aidnfield (apologies to any posters here that live there). It has pockets of Housing NZ properties and I see this as Coronation Street / Linwood of the future. As for Linden Grove - what are people thinking - flash houses in a poxy area - theres a good reason why they are relatively cheap. Look to them to loose value over time.

"Time" will become a commodity in the future (if it isn't already so) so think about how much time it will take to do things from the house you build. West Meltons not bad cos you ahve a relatively striaght run into town and avoind hte main arterial routes - so what about somewhere a bit closer and not so much in a "subdivision". I haven't been to delamaine for a while and the power lines are an issue - but don't forget Fendalton has a main line train track running through it. Dealamaine is in Hornby High zone - and theres a reason they take out of zone kids without a ballot. Wherever you are in Christchurch you have problems. Flight path in one part of town, cold easterleis in another, train tracks, power lines, motorways elsewhere - you need to pick the lowest impact for maximum gain.

You're not going to build a high spec home (+ land) for $500k - so make sure you don't over capitalise with fittings.

I'm in the NW of town so have a bias towards that area. But I've had rentals in Avonside. I've a soft spot for that area - you may find potential there.

goyougoodthing
03-09-2010, 12:28 PM
Thanks Percy and minimoke for the replies and opinions.

We are currently in our late twenties, and planning for kids in the next couple of years, so a good primary school is a big must have for us at the moment. The secondary school isnt such a big issue I guess for now, as that is still 15 years or so away, and we would ideally be sending them to a private school, however i guess if there was a top notch public school it could save us a lot of money.

Living out of town would be our preferred option, however we dont like Rolleston, living north (Rangiora) would be fin, but the traffic into town in the morning is horrific so that rules that out for us. West melton way was the pick of the bunch as you get the piece and quiet of the country, but still only 10 minutes to the outskirts fo town. Another option I guess could be Prebleton which again is pretty close to the CBD.

If we do end up building the idea would be looking to build a very family friendly type home so that it would be attractive to buyers when we came to sell it. What would be a realistic budget for building, I see so many different figures from each company its hard to know what the true cost is, especially when some include things that others don't and so on. Minimoke, I take it you have have built before, so perhaps could you give a guide? From looking at the home building companys, they seem to range from 1100 a meter, up to around 2000 for a ultra high spec house, we have found quite a few round that 1200-1300 that we really like the spec of, but I half exepct there to be lots of hidden costs which will quickly bump the price up.

Hmmm, to think initially I thought building would be a easy straight forward process, find a section, build a house, how wrong I am :)

Kees
03-09-2010, 12:48 PM
if you like being by the water etc try brooklands few section left including my own.

goyougoodthing
03-09-2010, 12:57 PM
if you like being by the water etc try brooklands few section left including my own.

We did see some big sections out there for a reasonable price. How long is the commute to town on a weekday morning?

minimoke
03-09-2010, 01:27 PM
Thanks Percy and minimoke for the replies and opinions.

We are currently in our late twenties, and planning for kids in the next couple of years,
So first up is maternity care. Rangiora hospital is not open in teh middle of the night. Lincoln is apparently pretty good.

so a good primary school is a big must have for us at the moment.
So what are your kids going to do. swimming lessons - how far to the pool. Football, rugby, tennis etc - all pretty well represented in the rural areas. But you will be travelling. Great opportunities in rural primary schools - but not as many as city based ones. Look for land close to the school or on the school bus route.


The secondary school isnt such a big issue I guess for now, as that is still 15 years or so away, and we would ideally be sending them to a private school, however i guess if there was a top notch public school it could save us a lot of money. yea - its loads of time away. As long as you actively plan to move (which you probably will after that period of time) intoa zone with a decent school. Private school is a good idea. The quality of their drugs is much better than public schools.


West melton way was the pick of the bunch as you get the piece and quiet of the country, but still only 10 minutes to the outskirts fo town. Another option Not a bad choice Yaldhurst would also be an option.


If we do end up building the idea would be looking to build a very family friendly type home so that it would be attractive to buyers when we came to sell it. Good idea. But don't make it too "family friendly" - your ideas may not be the same as future buyers.

What would be a realistic budget for building, Hard to say - I haven't looked closely in the past year or so. Last build I did was 350sqm a few years ago and worked out around $1,500 a sqm for a pretty well spec'ed place (solar energy, double glaze, Cat5 everywhere etc). Finished a reno which came in around $2,000 a sqm - but I added 180sqm and its ended up pretty high spec - but not ultra high spec (what ever that means). A reno is generally more expensive than a new build.


I see so many different figures from each company its hard to know what the true cost is, especially when some include things that others don't and so on. Some companies aim to build to build 10 houses and get enough revenue from 9 new home owners to fund the build. That means they get a house for free to flick on. Plus they get economies of sale in bulk buying. I used to be firmly of the view it was impossible to build at $1100 a sqm - the result would be a crap house built too cheaply. I don't know what that figure would be now. One thing is for sure though - the moment you change the very slightest thing on a building company's plan (and you will!) you will get stung for it. With a building company you will, generally know your full costs up front. If you go with a builder (my preferred option) you'll have your hand in your pocket all the time - so allow 10 - 20% extra.

Kees
03-09-2010, 01:28 PM
20 minutes on marslands rd probably longer if you go main north rd korean investor spending couple hundred mill on new housing golf course etc (if they get resource consent) in the area as well there will be plenty of growth with new sub being planned for marhslands.
the new sub will have new schools according to the resource consent being applied for.

minimoke
03-09-2010, 01:44 PM
korean investor spending couple hundred mill on new housing golf course etc (if they get resource consent) in the area thats not going to happen!
plenty of growth with new sub being planned for marhslands.
the new sub will have new schools according to the resource consent being applied for.
Marshlands is called that for a good reason. Putting foundations down adds to engineering and construction price. Is there the same challenge at Brooklands? In that same kid of area Bob Parker reckons Belfast is up for massive development (close to the rail line for commuter traffic) and I think Halswell has a rail corridor as well for the future.

Kees
03-09-2010, 01:53 PM
thats not going to happen! last i heard wich was only couple of weeks ago is that it will and should start within the next six month unless you have better info then me.

Brooklands is solid as no problems there and I doubt that ngai tahui & progresive would be involved if there was any concerns re building in
Marshlands it is well drained specially the place they have chosen to develop.

Buses services available from brooklands spencerville etc

minimoke
03-09-2010, 02:06 PM
thats not going to happen! last i heard wich was only couple of weeks ago is that it will and should start within the next six month unless you have better info then me.

Last I heard was a variety of resource management appeals had been lodged 18 June - don't know if they have been heard and decided yet. There were a number of issues and appellants so I wouldn't have thought so. The Styxx Action people seem to be pretty anti - and well funded.

Update: there are loads of appeals - over 50. The Environment Court has allowed a set of appeals to be heard seperatley from the 50 odd ECan Change One appeals.

So the latest appeals get heard first and ahead of the Change One ones. Trouble is this is a bit of a precedent decision - that procedural decision may yet be appealed.

I don't know the hearing date for these lodged appeals (any update Kees?) but South Korean managing director, Thomas Na, said at the hearing there was "no possibility of the project progressing if even there is a one-year delay in bringing the matter to a hearing".

percy
03-09-2010, 02:09 PM
Paul,do you or your wife have family you want to be near.also minimoke mentioned Avonside.I must agree with him on that area.Nice old trees,lovely river,interesting houses,nice walks{with the Pram}and excellent schools.close to town.

goyougoodthing
03-09-2010, 02:54 PM
My mother lives in Ilam, and my brother and sister in law are in Merivale.
Ultimately its not really an issue for us if we are close or near to them, its not really a big drive if we are anywhere in Christchurch or surrounding suburbs/areas.

Will have a look at some Avonside properties, although we would much rather prefer a nice new house, but I'm open minded enough to consider older houses, just convincing the better looking half is half the battle :P.

Kees
03-09-2010, 03:15 PM
Last I heard was a variety of resource management appeals had been lodged 18 June - don't know if they have been heard and decided yet. There were a number of issues and appellants so I wouldn't have thought so. The Styxx Action people seem to be pretty anti - and well funded.

Update: there are loads of appeals - over 50. The Environment Court has allowed a set of appeals to be heard seperatley from the 50 odd ECan Change One appeals.

So the latest appeals get heard first and ahead of the Change One ones. Trouble is this is a bit of a precedent decision - that procedural decision may yet be appealed.

I don't know the hearing date for these lodged appeals (any update Kees?) but South Korean managing director, Thomas Na, said at the hearing there was "no possibility of the project progressing if even there is a one-year delay in bringing the matter to a hearing".

No can't add anything more at this stage.

percy
03-09-2010, 03:46 PM
My mother lives in Ilam, and my brother and sister in law are in Merivale.
Ultimately its not really an issue for us if we are close or near to them, its not really a big drive if we are anywhere in Christchurch or surrounding suburbs/areas.

Will have a look at some Avonside properties, although we would much rather prefer a nice new house, but I'm open minded enough to consider older houses, just convincing the better looking half is half the battle :P.
You may be able to buy a near new, or build a new house in an older area.What my concern is, the resale value of building in a new area.Should you build a slightly smaller house in an old area ,I think you would not have to worry about selling.A lot of people looking for a newish houses in good areas.St Martins is also a very pleasant area.When it comes for a larger house then you will have more of an idea what will suit you.

minimoke
03-09-2010, 03:46 PM
thats not going to happen I doubt that ngai tahui & progresive would be involved if there was any concerns re building in
Marshlands it is well drained specially the place they have chosen to develop.

That part of Prestons/Marshlands road has loads of Tai Tapu Silt and Waimari Peat loams. Its SwampLand but "Prestons" sounds a lot more upmarket.

fungus pudding
06-09-2010, 06:08 PM
Any eq damage as far North as Pegasus?

airedale
07-09-2010, 12:50 PM
Minimal damage in Rangiora. Maximum damage in Kaiapoi.
those plans to develop around Marshlands road should be scrapped

jmsnz
07-09-2010, 04:43 PM
Any eq damage as far North as Pegasus?

According to here http://www.pegasustown.com/more-info/pegasus-update, no.

Will be interesting to see what happens to suburb values in CHC from here.

Agree with Airedale re Marshlands (though I've always thought development there to be a bit of a dumb idea). Kaiapoi is interesting, I know several people living there that are fine, yet there is clearly widespread damage to parts of it.

2cants
22-09-2010, 11:08 AM
Any eq damage as far North as Pegasus?

Whilst working with Civil Defence, I spoke with the engineers and they were apparently very impressed with how Pegasus performed. A lot of compacting was performed to remove the likelihood of liquifaction, which appears to have worked. The builings at that stage had only been L1 accessed (visual external) and all green stickered. 2 of the show homes were L2 inspected (detail internal) and passed with no cracks at all.

minimoke
23-09-2010, 08:02 AM
Whilst working with Civil Defence, I spoke with the engineers and they were apparently very impressed with how Pegasus performed. A lot of compacting was performed to remove the likelihood of liquifaction, which appears to have worked. The builings at that stage had only been L1 accessed (visual external) and all green stickered. 2 of the show homes were L2 inspected (detail internal) and passed with no cracks at all.
2cants - welcome to these forums. Engineers shouldn't be impressed - there was nothing much to be impressed about. Pegasus was some 40kms away from the quake epicentre which damaged as far away as Kaiapoi. You'll see nothing much north of the Waimak River was damaged apart from those parts of Kaipoi - but there wasn't too much surprise there as Kaipoi liquefied in the last big quake around the turn of the century. What Pegasus should be worried about is the 3 faults that lie 10 km away - they aren't big but one of them is still capable of a m6.5 - 7. And of course theres still the M8 expected off the Alpine fault which is only 100km away. I think buyers out at Pegasus can rest assured they won't loose their life in a big quake. But would I put money into a property resting on compacted sand and water - No! And now lets wait to see the consequences of building on compacted land - there are bound to be some. For example try getting grass to grow in some of these new subdivisions. Once the ready lawn roots get past their own soil into the compacted sub soil they have no where to go and so they turn up at the tips and die.

Pegasus has coped well in a high flood year and in a year of a quake. But that was a year when there was very little construction on the surface. Lets revisit the impact of shakes and water once it is a fully built up town. My money says it won't cope so well then - especially if developers skimp on concrete and reo going into the slab foundations. I bet the Inspectors will be keeping a close eye on that from now on.

airedale
29-09-2010, 08:40 PM
Right booked a trip for later this year.
What is ppl's view on Woodend and Loburn?

thanks
After a very pleasant bike ride around the Cust --West Ayreton area today, thought I'd post an update for Footsie,and I hope that the quake hasn't discouraged him. Nice spring day,flat roads for cycling, blossoms on the trees, no quake damage in that area. Cust ...nice little village, school,church,pub,general store with petrol pump. 15 minute drive to Rangiora.

Arthur
07-10-2010, 06:11 PM
Had a visit the other day. Walked over the $600,000 sections to the Island. My boys loved it - had to strip to their undies while paddling to fit in with the other over weight white trash that was there. The hoodie gang were making full use of the concreted steps around the "marina". There was more built there than I thought there would be. Wandered around the sales office twice, with no interest from the sales team until one popped out for a fag outside. More or less asked what I was doing there - no way to treat someone with enough cash to buy a section or two. Wetlands not as nice as I expected - The wetland area in Christchurch city is much nicer. We went to see the model but it is permanently closed. Christchurch was in fine form - the visible earthquake damage is few and far between. Overall my impression has improved - I'd pay up to $60k now if they build the kids playground and finish the heated pools.

minimoke
08-10-2010, 07:34 AM
My boys loved it - had to strip to their undies while paddling to fit in with the other over weight white trash that was there. The hoodie gang were making full use of the concreted steps around the "marina".
You might have missed the news when the other day some lad was pulled 9/10ths drowned from the lake. It sounds like he was in a bad way and was not far from being the first white cross on the Esplanade.

fungus pudding
08-03-2011, 07:52 AM
Might just be that the earthquake is going to rescue Pegasus from its ghost town look.

minimoke
08-03-2011, 08:49 AM
Might just be that the earthquake is going to rescue Pegasus from its ghost town look.
Sure looks like it - perhaps even with Govt purchasing the land as part of transitioning the 10,000 homeless families into something either temporary or permanent. I can just see the Aranui folk flocking to the Pegasus Golf Club! The Esplanade could house the folk from Hampshire Street. But I reckon Wigram (Ngai Tahu) and Delmaine will get a look in first. The Marshlands proposal is probably dead in the water now.

winner69
17-08-2012, 09:52 AM
Receivership as Robertson couldn't get anybody to buy the discounted loans

Still a ghost town?

fungus pudding
17-08-2012, 09:57 AM
Receivership as Robertson couldn't get anybody to buy the discounted loans

Still a ghost town?

Care to elaborate on your post?

winner69
17-08-2012, 11:53 AM
http://www.stuff.co.nz/business/industries/7494491/Pegasus-town-developer-in-receivership

The still a ghost town question was based on previous posts on the thread - is it looking like a township now or still rather quiet?

fungus pudding
17-08-2012, 12:23 PM
http://www.stuff.co.nz/business/industries/7494491/Pegasus-town-developer-in-receivership

The still a ghost town question was based on previous posts on the thread - is it looking like a township now or still rather quiet?

I last had a look around in early January this year. Didn't seem to be that much happening, which suprised me given the need to relocate so many Chch. residents. Obviously there will have been some progress since then. Hope to see a post from a local for an update, but it doesn't inspire me in any way from my occasional and irregular visits.

D B Cooper
05-12-2012, 11:22 PM
Todd Family moving in

http://www.nbr.co.nz/article/todd-property-buys-pegasus-town-ch-133448

Joshuatree
30-03-2017, 07:26 PM
Just found this thread.So did the Todd family have the midas touch with Pegasus as well?

percy
30-03-2017, 08:45 PM
Just found this thread.So did the Todd family have the midas touch with Pegasus as well?

Going by the numbers at their wonderful Pegasus Pprimary School I would think so.
The school even has their own radio station.
Kids everywhere.
Big solar panels on the roof means they produce all their own power.

westerly
18-04-2017, 06:33 PM
Just found this thread.So did the Todd family have the midas touch with Pegasus as well?

Not sure . The golf course and large blocks of land are up for sale. The school took over the old Waikuku school and the Education Ministry seems
very proud of it.

westerly

JBmurc
03-05-2017, 12:43 PM
Pegasus land a good investment ?? at the right price

I'm seeing most sections doubling in value all over otago in the last 1-2yrs crazy times...... some real backwaters now command 100k+ when you couldn't give them away not long ago

airedale
04-05-2017, 09:39 AM
Pegasus land a good investment ?? at the right price

I'm seeing most sections doubling in value all over otago in the last 1-2yrs crazy times...... some real backwaters now command 100k+ when you couldn't give them away not long ago

section in Inniscort St for $15,000. There were a couple for sale at the bottom end of the street. Sadly that is another one that "got away".
Hi Jb, I lived in Cromwell for a time around 2002. I could have bought a

airedale
04-05-2017, 09:40 AM
Apologies for the way that the last post is not quite laid out properly.

JBmurc
04-05-2017, 09:53 AM
Apologies for the way that the last post is not quite laid out properly.

Right got the meaning yes Cromwell was good buying only 16 months ago ....and very cheap years ago ...at present a section in cromwell will set you back mid to high 200's...... if it's large enough to have more than 1 house then 400k+

Looking for what I could buy next thinking section/land over commercial/house/flat ......have always done best on sections of land be it spec building or land banking .....still not stressed if nothing worth the debt I would rather the funds were in the ASX / Silver bullion

seen one section Pegasus township 30%+ under R.V only 400sqm ....