Pegasus Town

[fungus pudding]

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]

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]

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]

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]

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.

[Serpie]

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]

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]

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]

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]

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.