Media Release

October 16 2012

Prestons releases first tranche of 200 sections

The first 200 sections at Prestons, the dynamic new residential subdivision in Christchurch’s north east, have been released to the market with titles due in December next year.

The sections in Stage I, which will be known as Korowai, range in size from 450 m2 to 650 m2 and are priced between $180,000 and $245,000.

David Schwartfeger, chairman of Prestons Road, which is a joint venture between Ng?i Tahu Property, CDL Land New Zealand Ltd and Foodstuffs South Island Ltd, said that while it has taken longer than expected to bring the sections to market, work is now well under way.

“The first stage being constructed is by Ng?i Tahu Property on the northern side of PrestonsRoad and a sales office will be opening shortly. We are delighted to finally bring sections to the market and start the process of families getting back to some normality in the eastern suburbs,” he said.

The developers have carried out extensive ground tests across the subdivision and the majority of the land is TC1 with some small, localised areas being TC2.

Dr Jan Kupec, technical director for Aurecon New Zealand Ltd, said that as part of the bulk earthworks and construction works for Stage 1 it is proposed tocarry out ground improvement to those areas of TC2.

“The aim is to improve the future ground performance to the level of TC1. Ground improvement will comprise ground densification with a large compactor and several full-scale tests have been successfully undertaken. The ground densification will be subject to stringent quality assurance and control testing to confirm that the ground improvement to TC1 has been achieved.

“The result of the testing will be provided as part of the subdivision certification submitted for approval to the Christchurch City Council,” he said.

Prestons suffered no liquefaction or lateral spreading or any other seismically associated hazards during the entire earthquake series. The site has a low susceptibility to earthquake damage because of the presence of dense dune deposits, which are less susceptible to liquefaction than fluvial deposits around rivers and streams.

“There are, however, some areas of thin peat layers which have been identified in our investigations and these will be removed,” he said.

Prestons is designed to be a sustainable urban village sited on 203 hectares that will ultimately contain 2500 houses and 8000 residents. It is bounded by Mairehau Road to the south and Lower Styx Road to the north and is bisected by Prestons Road.

Schwartfeger said that Prestons hopes to be able to release another 200 sections early in the new year.

“We are also well down the track with plans for the school and supermarket. Land has been set aside for both. Currently Marshland School provides for primary education within the area, but the Ministry of Education has indicated that the school may be relocated as part of the Government’s Education Review Plan. No timetable has been set,” he said.

Roger Davidson, General Manager Property and Retail Development for Foodstuffs South Island, said that draft designs and geotechnical investigations for the new supermarket had been completed and it was likely that work would commence on the project in the 2013/14 year. It is to be sited adjacent to the existing BP outlet on the corner of Marshland and Prestons Road.

A thriving retail area for smaller specialty shopsincluding cafes and restaurants is also proposed along with an open, green space park.

Schwartfeger said that several roading upgrades would be undertaken during the project, including Prestons Road, the Prestons Road/Marshland Road intersection and other neighbouring intersections.

“One of the bigger tasks to complete during this first phase of bulk ground works will be the base for the roading network inside the subdivision. We are fortunate in that we will be able to use some material already on site, but we will still have to truck in a certain amount.

“In our planning for Prestons, we have incorporated a number of initiatives within the design to provide for a sustainable community. These include the reuse of existing materials for the likes of the roads, the containment of stormwater on site, the enhancement of native plantings, the use of different housing densities to allow for a number of housing typographies plus the way we have linked the entire subdivision to set up a vibrant community,” he said.

Ngai Tahu Property have joined forces with global insurance brokers, Aon and BNZ bank to help customers get into their new homes.

Aon is offering pre-approved contract works and home insurance on all sections within the Prestons sub-division. This offer includes contract works cover, either in the name of the house owner or the builder, and then home cover at the completion of the works.

The home cover then becomes a normal renewable policy. As all sections have been pre-approved there is no need for geotechnical reports. As long as there is council consent then cover is available.

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