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- Release Date: 26/09/13 11:06
- Summary: GENERAL: CDI: CDI: Stonebrook & Prestons Road Development Update
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CDI
26/09/2013 09:06
GENERAL
REL: 0906 HRS CDL Investments New Zealand Limited
GENERAL: CDI: CDI: Stonebrook & Prestons Road Development Update
CDL INVESTMENTS COMPLETES FIRST TWO STAGES OF STONEBROOK AND STARTS WORKS ON
PRESTONS ROAD
Residential property developer CDL Investments New Zealand Limited (NZX: CDI)
recently achieved two important milestones at its Canterbury subdivisions -
the completion of all works as well as the settlement of the majority of
sections at Stages 1 and 2 of its Stonebrook subdivision located at Rolleston
and the commencement of work at its Prestons Road site.
The result of several years' planning and extensive work, Stonebrook Stages 1
and 2 comprise 90 sections of a total of over 400 sections across the 42
hectare site.
Stonebrook has been designed to offer a range of section sizes and housing
densities which will appeal to a wide range of buyers. Every section also
has access to fibre broadband services over Enable's new network. Details of
available sections and pricing can be found at the dedicated website
http://www.stonebrook.co.nz/.
CDI Managing Director Mr. B K Chiu said that completion of the first two
stages was a significant milestone.
"The demand for Stonebrook has been strong and we are delighted that we have
been able to mark the completion of the first two stages of Stonebrook. This
has been a major project for us this year and will ensure that CDI betters
its 2012 results" he said.
Mr. Chiu noted that Stage 3 has practically been sold out with settlements to
occur in 2014 and that Stage 4 was due to be released very shortly.
"The need for high quality sections in Rolleston remains and we are confident
that Stage 4 will also sell out in the near future", he said.
CDI also owns 75 hectares of residential-zoned land located between Mairehau
and Prestons Roads, 6.5 kilometres from the Christchurch CBD. It is part of
Prestons, a dynamic new residential subdivision located in the north east of
Christchurch. Prestons is ideally located to connect to public transport, is
close to Christchurch city yet is also adjacent to the recreational area of
Bottle Lake Forest.
Prestons is designed to be a sustainable urban village, is 203-hectares in
total size and will become a residential precinct for over 2,500 houses and
8,000 residents. It is a joint venture development between Ng?i Tahu
Property, CDL Land New Zealand Ltd. and Foodstuffs South Island Ltd.
Mr. Chiu confirmed that CDI had obtained planning consents and earthworks
would start by the end of 2013.
"Much like our Stonebrook subdivision, we believe sections at Prestons will
strongly appeal to a wide range of buyers seeking high quality residential
sections within easy reach of Christchurch" he said.
ENDS
Issued by CDL Investments New Zealand Ltd
Any inquiries please contact:
B K Chiu
Managing Director
CDL Investments New Zealand Ltd
(09) 913 8077
End CA:00241606 For:CDI Type:GENERAL Time:2013-09-26 09:06:30
