Property Description

Rotorua’s broad and resilient economic base, enduring tourism credentials and demographic trends are driving demand for housing, with astute developers looking for opportunities to contribute to the city’s residential growth.

Fresh to the market is a freehold 49-hectare landholding at Kawaha Point on the northwest shores of Lake Rotorua. It has flat to gentle contour and a favourable future zoning overlay conducive to a master-planned medium-density housing development for up to 400 homes of mixed typology.

Bonnington Farm has been in the same family ownership since the 1920s, and is held in four separate titles. The pastoral farmland has minimal improvements and is located on Aquarius Drive, around 5km from Rotorua CBD.

Currently zoned Working Rural, the land has been identified as a logical extension to the city’s future urban area under the Rotorua Future Development Strategy (FDS), a strategic long-term growth plan developed by Toi Moana Bay of Plenty Regional Council and Rotorua Lakes Council.

Wesley Gerber of Bayleys says given Bonnington Farm bounds the city’s existing urban environment, and has a natural outlook towards Lake Rotorua, it’s a strategic greenfield site in one of Rotorua’s few designated future growth areas.

“The Rotorua District’s population is circa-78,000, with forecast population growth of 90,200 by 2053. Regional New Zealand is increasingly appealing to well-resourced development entities scoping suitable sites with scale and the potential to be part of a growth narrative.

“Rotorua Lakes Council is pro-development, and Bonnington Farm is in its sights as a viable and sensible site to facilitate much-needed new housing stock.

“Developers will also be encouraged by the fact that the contiguous landholding is in single ownership which streamlines the path to a master-planned development approach.”

Gerber says the farm’s family owners would be open to a range of purchasing options which provides a level of flexibility for prospective buyers.

“We’re encouraging interested parties to engage with us to explore pathways to acquisition. The owners will consider various purchase and settlement scenarios which could appeal to developers taking a medium-term view.”

Bonnington Farm directly adjoins the Aquarius Drive Reserve and the Rotorua lakeside trail network with extensive frontage to the Ngongotahā–Rotorua Cycleway, providing recreational benefits for future residents. It is positioned close to emerging commercial precincts offering employment and retail advantages, and adjacent to the proposed Summerset retirement village.

“As New Zealand’s tourism rebound continues and government/private investments flow into regional growth, Rotorua is positioned for sustained economic expansion, which in turn supports property development opportunities,” says Gerber.

“With both central government and local government championing greater housing supply and intensification in growing cities, Bonnington Farm has the potential to be a cornerstone project in Rotorua through the creation of a well-connected and vibrant medium-density neighbourhood.”