Pokeno On the Rise?

Is it coincidence or just foresight?
Surely the two items must be linked.
It looks like Pokeno, long forgotten since the motorway by-pass isolated it, may become the red hot spot to invest in.
This is certainly the place for budding investors to keep an eye on.

 

 

The tiny town of Pokeno is fast becoming the jewel of north Waikato as Aucklanders rush to buy cheap property just outside the city boundary.
The town has seen an influx of buyers either capitalising on or being pushed out by high house prices on the other side of the Bombay Hills.
Pokeno is famous for its bacon and big icecreams. Prices for a house and section in the town start at $100,000 below the median property price in Auckland.
Hamiltonians looking to live closer to jobs in Auckland are also snapping up homes in the township.
Pokeno Village Estate salesman Otto Veltman said of the 110 properties made available last year, 77 were already gone.
“Last week I sold five properties, and I will sell another five this week if everything goes according to plan.”
“Sales have been very positive. Very good.”
He said around three-quarters of sales had been to Aucklanders. The rest had primarily been sold to people from Waikato and the Bay of Plenty. The first residents had started to move in and work was under way on expanding the number of sections ready for sale.
Mr Veltman said 13 of the 25 sections to be opened up in the next phase of development had already been booked.
Developer Kerry Dines has 1500 residential properties available in Pokeno, and said initial interest came from young couples or families looking to get into the housing market, but finding Auckland prices too high.
link
http://www.stuff.co.nz/business/mone…and-for-Pokeno

Yashili gets OIO nod to build $212m Pokeno dairy processing plant
Paul McBeth | Tuesday April 02, 2013

Chinese company to build $210m NZ milk processing plant Yashili International Holdings, which makes and distributes infant milk formula products in China, has got Overseas Investment Office approval for its proposed 1.1 billion yuan ($212 million) milk processing plant in Pokeno.

The company has three years to build the plant before its consent lapses, which will also impose “certain ongoing reporting responsibilities on Yashili New Zealand”, chairman Zhang Lidian says in a statement to the Hong Kong stock exchange.

Yashili NZ is still waiting for land use and resources consents and is holding a tender for the dryer component of the facility, he says.

Yashili flagged the New Zealand investment in January after the Chaozhou City, Guangdong-based company’s board signed off on a project to set up a local manufacturing facility to process up to 52,000 tons of finished and
semi-finished products, including base milk powder by the second half of next year.

Link

http://www.nbr.co.nz/article/yashili-gets-oio-approval-build-212m-pokeno-dairy-processing-plant-bd-137952

 

 

Posted in News & Articles | 3 Replies

3 thoughts on “Pokeno On the Rise?

  1. Hi Olly,

    What guarantee is there regarding a supply of tenants at this early stage? Houses seem extremeny well priced but without a tenant there may be mortgage servicing issues.

    Regards
    Dipak

  2. I would have thought that home owners would be the first buyers. Tenants would follow later.

  3. Hi Olly,
    Pokeno Village Estate is offering sections @170k (possibly with some negotiations we might get it for 150k-160k). We are a group of 4-5 individuals (looking to start small in property investment with joint ownership of section putting in cash) looking to investing in 1 section and then get a house built on it, by taking a bank loan for the construction (and on-sell the built property to make a profit. What would be your advise regarding this option? or if you can suggest pointers to alternate options? Thanks

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