The opportunity
A freehold property of approximately 4,592 m², with a proposed four-lot layout and side accessway. The intended outcome is three sale-ready residential sections: a turnkey front section with an existing consented wastewater system, and two sections with designed and costed wastewater solutions, ready for installation to suit the purchaser’s building layout. The rear lot will be retained for future use. Power and telecommunications/fibre provisions will be scoped for the sale lots. Final yield, boundaries and servicing remain subject to survey and consent.
Current position
Pre-application engagement with Dunedin City Council senior planner Jeremy Grey indicated no objection in principle to the proposed four-lot subdivision. The project is progressing on that basis, subject to the formal resource consent process. A historical three-lot subdivision consent was granted in 2008 and subsequently lapsed, providing a relevant precedent for future development. Clark Fortune McDonald has been engaged for survey and planning advice. Forge Emergence Limited is the development entity.
Working funding position
The development funding requirement is being revised against the indicative budget below, with staged advances against agreed costs and milestones. Funding, security, fees, timing and repayment terms remain under discussion.
Online property market estimates, checked 18th October 2026: OneRoof: NZ$450,000; Homes.co.nz: NZ$410,000; realestate.co.nz: NZ$429,000. These automated estimates relate to the existing property as a whole.
Jason Hynes, Managing Director, LJ Hooker Dunedin, provided a written market appraisal by email on 24 September 2026, identifying comparable section sales of NZ$210,000–$236,000 as the closest comparisons to the proposed sites. The front section, with its existing one-bedroom dwelling and independent driveway, is likely to achieve a higher price. Supporting email appraisal and comparable sales evidence are available upon request.
Proposed repayment / exit: sales of completed sections, with staged release and refinancing options by lender agreement. Gross sale indications exclude development expenditure, finance, tax and selling costs.