Pegasus sites offer resort development potential

A new hotel, a spa and wellness complex, and a golf education centre or country club are among development possibilities for three sites for sale in the South Island resort town of Pegasus.

The trio of adjoining vacant freehold lots, with a combined area of more than 5.8 hectares, neighbour the Pegasus Golf and Sports Club and its renowned championship course at the heart of the North Canterbury resort.

Now offered for sale through Bayleys Real Estate, the properties are highly visible and accessible on the township’s main arterial road, Pegasus Boulevard.

Situated 25 kilometres north of Christchurch via State Highway 1, Pegasus is a master-planned township whose fast-growing population recently topped 4,000. The resort is centred around the parklands-style 18-hole international championship golf course, renowned as one of the best in New Zealand.

It is also home to picturesque Pegasus Lake, and is minutes from Pegasus Bay beach, popular for its coastal scenery and outdoor recreational opportunities.

The three sites at 138, 148 and 158 Pegasus Boulevard, Pegasus, are being offered to buyers, individually or together, in a mortgagee sale by way of a tender closing on Thursday 11 December.

Bayleys national director of hotels, tourism and leisure sales, Wayne Keene said the sites sat in Waimakariri District Council’s Special Purpose – Pegasus Resort zone, designed to provide for a high-quality visitor resort centred around the golf course.

“This zone allows for visitor accommodation and a wide range of other tourism and wellness activities that complement the surrounding resort environment.

“Being within a half-hour drive of central Christchurch and Christchurch International Airport makes the location convenient for both domestic and international visitors.

“At the same time, these properties are well positioned to leverage ongoing growth and development within Pegasus, which is driven by rising residential demand and continued investment in local infrastructure.

“This location presents an exceptional opportunity to secure a foothold in a dynamic and flourishing community with excellent access to both urban conveniences and natural attractions,” said Keene.

Bayleys South Island capital markets and corporate leasing director, Jesse Paenga said the land for sale was well-suited for developers seeking a sizeable land bank with immediate development potential in a sought-after growth area.

Waimakariri District’s population leapt by a third, to over 66,000, in the 10 years to the 2023 census and is predicted to keep growing.

“The Pegasus sites enjoy seamless integration with the established Pegasus and Ravenswood townships and excellent access to local amenities.

“Community infrastructure includes parks, playgrounds, walking and cycling tracks, as well as essential services such as schools, childcare centres and medical facilities. Shops, cafes and restaurants are within walking distance.

“Big-name operators established in Pegasus to date include McDonald’s, BP, Harvey Norman and a New World supermarket, while further shopping, dining and service options are available in nearby Rangiora and Kaiapoi,” Paenga said.

Pegasus received a further boost with confirmation work will begin next year on a new bypass at nearby Woodend. This project will create a nine-kilometre motorway extension providing seamless travel by motorway all the way from Christchurch to Pegasus.