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Lifestyle July 18, 2017

You May be Sitting on a Property Jewel

“We‘re the ‘go to’ place if your property has development potential,” says Lance Pemberton and David Kelly, from Barfoot & Thompson in Epsom.

 

 

They believe the now active Unitary Plan unlocks equity for many locals with property in Epsom, Parnell, Mt Eden, Greenlane and Remuera.

 

 

“You’ve got to be excited about it because intensification brings more vibrancy to the area,” David says.

 

 

Their Epsom office is on a mission to unpack the plan’s benefits for homeowners who may be unaware that they’re sitting on a jewel, or have no clue about how to develop the land into multi-units or apartments.

 

 

“In the old days you may have had a cut off cross lease, now you may be able to get three units or maybe more on the land and subdivide depending on the size and zone,” says David.

 

 

Talking to the neighbours and connecting parties is how this real estate office adds particular value – in multiples in some cases.

 

 

“You may have a scenario where there is a block of three ripe for development. You don’t know the owners or have a way to find that information out – we do our homework by putting everyone together to form a more valuable parcel of land.”

 

 

Local developers already know how successful the Epsom office is with selling projects, helping buyers understand the process ensuring an efficient sell down.

 

 

Significant development projects the office has been involved with include Nugent Rise in Khyber Pass and The Edgerley currently under construction next-door to Farmers in Newmarket.

 

 

Edgerley developer managing director, Alan Leng, supports this experience, particularly the results achieved by sales agent, May Zhang.

 

 

“May was fantastic to deal with. Very knowledgeable about project marketing and selling and came with a large pool of buyers and investors ensuring a fast, smooth sell-down of our project. We intend working with Barfoot & Thompson again soon.”

 

 

They also have a pool of investors that understand development to assist owners with a quick or planned sell-down.

 

 

“First of all come to us for advice about what the zoning is, what it means and what it looks like,” Lance says. “We also connect our clients with professionals like planners to see where the actual value sits.”

 

 

Homeowners teetering on the brink of developing, yet feeling nervous as a first timer can be reassured that this team are experts in identifying amalgamation opportunity and will offer a comparative market analysis.

 

 

With a strong network through a team of highly successful sales people in the one office, the pricing information is current and tracked for the area.

 

 

“We can accurately look at a potential piece of property from a design point of view, a zoning point of view, and a pricing point of view for what we think it would sell for,” says David.

 

 

“We can put an owner in touch with a developer who can buy the land or perhaps give them one unit back as a part payment.”

 

 

Lance emphasises the office’s invaluable local knowledge and expertise is the prime reason for their marketing and sales success.

 

 

“Our working knowledge comes from actively participating in our community day in and day out – we know that the guy next door has been in touch with us and can go to them and say look here’s the bigger picture.”

 

 

Planning changes have also opened up possibilities beyond the former District Plan ‘pre-1944’ rules. Before owners couldn’t demolish without first seeking planning permission which was very hard to get.

 

 

“Now the blanket protection is gone there are a lot of people who just do not know what the value is of their property — it could be significant. Call us for a free planning map,” says David. “You’ll see at a glance how it affects you.”

 


Words: Sarah Sparks | Map: Courtesy of Mt Hobson Group

Barfoot and Thompson Epsom
280 Manukau Rd, Epsom
09 520 6221
barfoot.co.nz/epsom

David Kelly | Branch Manager
021 654 100 | 09 215 2847 | dkelly@barfoot.co.nz

Lance Pemberton | Sales Manager
021 347 400 | 09 215 2757 | l.pemburton@barfoot.co.nz

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