New agreement for sale of Council land

The Whakatāne District Council has entered into a new conditional agreement to sell its land at 77 Bunyan Road, after an earlier proposal did not proceed. The new agreement is with a partnership of three very experienced Bay of Plenty developers, who have come together especially to develop the 27-hectare coastal property.

Mayor Tony Bonne says the track record, financial capacity, experience and innovative approach of the development partners provides a significant level of confidence that the coastal development envisioned will lead to the establishment of a lifestyle village for retired residents, as well creating an attractive living environment for younger property owners.

“The planned development will help address the shortage of housing land available in the Whakatāne area,” Mayor Bonne says. “The conditional agreement meets all of the Council’s aspirations for the land, and our professional advice clearly confirms that this proposal offers the best overall outcome for the community.”

The Whakatāne District Council is working closely with the developers to complete the due diligence phase for the proposal as quickly as possible. Further details will be made public once the agreement becomes unconditional.

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