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Developer woos displaced quakers

Earthquake-displaced central Christchurch residents have provided some developers with renewed marketing opportunities.

Pegasus Town was wooing residents keen to live 25kms north of the city in the new satellite subdivision near Woodend.

Prices ranged from $127,000 for a 450sq m section to $159,000 for a section of about 650sq m with other larger sections as high as around $500,000.

Pegasus developer Infinity Investment Group’s general manager Marc Bretherton told NBR  there were 150 titled sections immediately available and more than 2000 in the pipeline at Pegasus.

Mr Bretherton said he was uncertain how mayor Bob Parker had concluded there were around 20,000 sections available in the Christchurch area. Infinity’s own surveys suggested fewer than 5000 available and not all of them would be titled.

The level of inquiry at Pegasus had surged over last weekend. Infinity had been able to assist buyers in different circumstances with deposits of just 1% and information about funding and insurance.

Infinity was also developing Ravenswood across the road from Pegasus with included residential and commercial development land.
Neither Pegasus nor Ravenswood sustained damage from the recent earthquakes or liquefaction. Extensive ground improvement processes have protected Pegasus from the effects of the region’s earthquakes.
Mr Bretherton said Pegasus escaped without the damage experienced in neighbouring communities with similar soil because of the extensive site preparation, including evaluation of the risk of liquefaction following a large seismic event.
The ground preparation included vibroflotation and vibrocompaction techniques, and extensive subsoil drainage networks.

More by Chris Hutching

Comments and questions

Who would want to live out there??

Only the retired people will want to live that far out of town

Pegasus is only 35 minutes from Riccarton . 40 minutes early mornings and evenings. It used to take me 30 minutes to get across town when we lived there. I would much rather travel on the open road than stopping and starting at the lights. Come out here and experience the clean air and stars.!!

Hey mate, there is no town left!!!

Clearly not true - given the number of young families with children who have chosen to live there

your an idiot it takes less time for me to drive to christchurch than it took me to drive from Cashmere to the CBD

Its built on a swamp by the sea - think about it hard if your trying to escape liquifaction!

Sounds tall popy! No damage at all to date plus no liquifaction. We all love it out here.You obviously haven't visited.

Peagsus sent large on vibro compaction so that the underlying soils would not liquify in an EQ.

There has been absolutely no liquefaction at Pegasus from any of the Canterbury earthquakes. $20m was invested in engineering and compacting the ground prior to the start of the development in order to prevent damage from earthquakes. Specialist equipment was brought out from Dubai to NZ for the first time to do this.

Most of Auckalnd is built around swamp and volcanoes wellington on a super active fault Pegasus is bullet proof and a testament to what can be done by forward thinking and dilligent devlopers

Did Bob pay for this advertising or is believer an employee?

Good on ya Bob for not putting up prices

there is now sufficient political pressure for the urgent release of much more affordable sections on the fringes of Christchurch, something that should have happened after the 4 September earthquake....and much sooner too.

The Authorities need to ensure there is abundant fringe land on the outskirts of Christchurch (with appropriate infrastructure financing), so that new fringe sections can initially be supplied at $50,000.

There is an abundance of good quality land available for subdivision on the fringes of Christchurch.

The compensated nervous residents of Christchurch will make sure that wherever they settled next will have to be 200% ifs or buts.

It looks great from the air -but is it effected by the Pegasus Bay fault they have just found? Would that cuase a tsunami there?

Oh I hadn't thought of tusnamis - I will tell my mother not to buy there now - she doesn't like tusnamis.

You need to get your facts in order Pegasus is NOT a subdivion or a satellite it is a town. the newest and most adventourous undertaking in the history of New Zealand. Rolleston took 30 years to get some momentum Pegasus is up and running in 5 years...