An 8,079-square metre (more or less) site of undeveloped land overlooking the signature hole at one of New Zealand’s finest provincial golf courses has been offered as an investment opportunity – complete with resource consent to build an upmarket serviced apartment hotel and conference venue.

The property is located within the North Canterbury township of Pegasus – some 28 kilometres north of Christchurch CBD and encircled by the 80-hectare international championship 18-hole Pegasus Golf Course with its award-winning clubhouse, driving range, and greenkeepers’ amenities.

Pegasus Golf Course has hosted multiple major golfing events during its life, including Ladies European Tour rounds in 2010, 2011 and 2012; the NZPGA tournament in 2019; and a leg of the Sir Bob Charles Tour in 2020.

Its clubhouse was a winner at the New Zealand Institute of Architects Awards in 2010.

The established Pegasus Golf Course with its pristine lakes and waterway fairway hazards sits at the centre of Pegasus’ triangulated master-planned development precincts – with the largely built-out Pegasus Town to the right, and the burgeoning suburbs of Ravenswood and Woodend to the left with their nearly 2,000 residential sections being built on over the coming years.

Waimakariri District Council has already granted development resource consent for the land, to encompass a 50-apartment four-star hotel, and 693-square metre conference and dining facility occupying a combined total of 8,079 square metres of land in a configuration of 28 studios, 18 one-bedroom apartments, a trio of two-bedroom apartments, and a single three-bedroom apartment.

There is the opportunity within the existing resource consent to change the room configurations and create more rooms by utilising a dual-key plan.

Future plans for the Pegasus Golf Resort hotel, conference venue and luxury spa project are already included in the Waimakariri District Council’s 10-year plan.

Bayleys’ national director hotels, tourism and leisure Wayne Keene says that upon its completion, the four-star hotel at Pegasus Golf Resort will be the only quality hotel of its type in North Canterbury offering dedicated conferencing facilities, along with the attraction of playing on a high-quality golf course just a few metres away.

“There is a myriad of possibilities for the development – including an owner-operator, a managed investment, the sale of the business lease, or a unit-titled development including management rights,” says Keene.

Bayleys Canterbury salesperson Adam Heazlewood says the master-planned township of Pegasus immediately adjacent to State Highway 1 began emerging from rural farmland in 2006 - with the first section titles issued in 2008. By 2010, the bulk of the community facilities had been completed - including the genesis of what is now the core commercial centre.

“Since then, the 18-hole golf course and primary school have been added to the community infrastructure. The town is now made up of 1,800 residential homes sustaining a population of approximately 6,000 people – with additional residential dwellings planned and under construction,” says Heazlewood.

Pegasus Town commercial centre lies at the heart of the township and services the immediate and wider residential catchments of Waikuku Beach, Kaiapoi, Rangiora, Woodend and Ohoka - whose populations are expected to grow significantly with continued migration out of Christchurch into the North Canterbury region.

At the end of 2020, Pegasus benefited significantly from the opening of the $290 million Christchurch Northern Corridor roading infrastructure project which delivers faster access to the North Canterbury region from Christchurch and has opened up the area for further residential development considerably.

*All measurements and distances are approximate only. 

For more information contact agents Wayne Keene and Adam Heazlewood of Bayleys Real Estate via the contact form below.