CDI
26/11/2015 10:10
ASSET
PRICE SENSITIVE
REL: 1010 HRS CDL Investments New Zealand Limited
ASSET: CDI: CDI commences sales of Prestons Park
26 November 2015
CDL INVESTMENTS COMMENCES SALES OF PRESTONS PARK
Residential property developer CDL Investments New Zealand Limited (NZX: CDI)
is delighted to announce the commencement of sales at its development at
Prestons Road, Christchurch from today.
The development, known as Prestons Park, located between Prestons Road and
Mairehau Road, is the culmination of nearly a decade's work of acquisition,
planning and development. The sales announced today represent the first 52
units of a total of over 730 units across a total of 75 hectares.
As with CDL Investments' other developments around New Zealand, Prestons Park
is designed as a high-quality, amenable and highly accessible residential
area following the successful housing development at Stonebrook, Rolleston.
With a variety of sections sizes to meet consumer demand and its close
proximity to the centre of Christchurch, Prestons Park will be a
highly-sought after location attractive to all.
CDI Managing Director Mr. B K Chiu was pleased that the company had reached
this important milestone.
"We are delighted that we can now offer our Prestons Park sections to the
public. It is a project that is very important to us, more so since 2011.
Demand from Cantabrians will continue for residential sections so close to
the Christchurch CBD", he said.
CDL Land General Manager Jason Adams said that the commencement of sales was
thanks to the efforts of the project team.
"They have been dedicated to getting Prestons Park to market and it is the
result of their work over the past few years that we are able to deliver a
high quality residential subdivision where Cantabrians will be proud to call
home", he said.
The first stage of Prestons Park comprises 260 residential sections in 4
sub-stages with 1 Commercial Area, which is earmarked for future development.
The Commercial Area will serve the subdivision and surrounding areas.
Titles for the first sub-stage M, comprising 52 residential sections are due
in mid-December and a further 4 stages are scheduled to be released during
2016. Resource consents have been secured for Stage 2 of Prestons Park, which
comprises more than 400 sections and development is well underway. Available
sections and pricing can be found at the dedicated website:
http://www.prestonspark.co.nz/.
About CDL Investments New Zealand Limited:
CDL Investments New Zealand Limited (CDI) has a proud track record of
acquiring and developing residential sections in New Zealand for two decades.
With a focus on creating and developing a range of high-quality residential
sections to New Zealanders, CDI has over the past twenty years successfully
completed numerous subdivision projects in Auckland, Hamilton, Tauranga,
Hastings, Havelock North, Taupo, Nelson, Christchurch, Rolleston (Canterbury)
and Queenstown. CDI is a majority-owned subsidiary of NZX-listed Millennium
& Copthorne Hotels New Zealand Limited.
ENDS
Issued by CDL Investments New Zealand Ltd
Any inquiries please contact:
B K Chiu
Managing Director
CDL Investments New Zealand Ltd
(09) 353 5077
End CA:00274131 For:CDI Type:ASSET Time:2015-11-26 10:10:06
