A landmark development estate
For Sale by Expressions of Interest closing 1pm, Tue 4 Aug 2026 (will not be sold prior), at Bayleys Palmerston North, 243 Broadway Avenue, Palmerston North.
Bayleys Manawatu are pleased to present a rare 39.5 hectare (more or less) residential development estate on Palmerston North's northern edge, offering an unparalleled opportunity to deliver a legacy project in one of New Zealand's most resilient and steadily expanding regional centres.
Just over 39 hectares of freehold, greenfield land across three titles, sitting within the council structure-planned Mātangi Residential Area, the land incorporates one of the city's largest rezoned residential development sites, with approximately 12 hectares designated as a residential development platform, and 10 hectares to become a public reserve and waterway corridor. The balance of 17.5 hectares (more or less) remains productive rural land. Palmerston North City Council's structure plan for Mātangi Residential Area indicates a potential for 158 lots (approximately).
The planning work completed to date and the Palmerston North City Council (PNCC) structure plan provides a level of clarity and confidence that is seldom available at this scale. The operative plan change and embedded structure plan provide the development framework - a rare advantage that significantly reduces risk and accelerates delivery.
Commanding a prominent position at the intersection of Rangitikei Line (State Highway 3), Flygers Line, and
Benmore Avenue, this expansive landholding sits at the gateway to the city - a location defined by scale, connectivity, and longterm strategic importance. Opportunities of this calibre are seldom released to market, and almost never with this level of planning certainty already in place.
For the information pack refer to: https://new.propertyfiles.co.nz/listing/29
Bayleys Manawatu are pleased to present a rare 39.5 hectare (more or less) residential development estate on Palmerston North's northern edge, offering an unparalleled opportunity to deliver a legacy project in one of New Zealand's most resilient and steadily expanding regional centres.
Just over 39 hectares of freehold, greenfield land across three titles, sitting within the council structure-planned Mātangi Residential Area, the land incorporates one of the city's largest rezoned residential development sites, with approximately 12 hectares designated as a residential development platform, and 10 hectares to become a public reserve and waterway corridor. The balance of 17.5 hectares (more or less) remains productive rural land. Palmerston North City Council's structure plan for Mātangi Residential Area indicates a potential for 158 lots (approximately).
The planning work completed to date and the Palmerston North City Council (PNCC) structure plan provides a level of clarity and confidence that is seldom available at this scale. The operative plan change and embedded structure plan provide the development framework - a rare advantage that significantly reduces risk and accelerates delivery.
Commanding a prominent position at the intersection of Rangitikei Line (State Highway 3), Flygers Line, and
Benmore Avenue, this expansive landholding sits at the gateway to the city - a location defined by scale, connectivity, and longterm strategic importance. Opportunities of this calibre are seldom released to market, and almost never with this level of planning certainty already in place.
For the information pack refer to: https://new.propertyfiles.co.nz/listing/29
Key features
Planned development
The offering represents one of the most significant residential development opportunities to come to market in the lower North Island in recent years
Location
Situated within the operative Mātangi Residential Area, the property spans more than 39 hectares (more or less) across three titles
Zoning
Indicative Palmerston North City Council (PNCC) modelling suggests the Mātangi Residential Area could support approximately 158 lots
Exposure
This is a prestige-level development platform – a site with scale. For developers seeking a project with genuine legacy potential, this is an opportunity of exceptional calibre
Need help with finance?
Vega is Bayleys’ preferred finance adviser for business, providing advice services across residential, business, property development, commercial lending and insurance.