A decision by Auckland Council’s Policy & Planning Committee to give final approval to a private plan change that will rezone 307 hectares of land south of Beachlands, paving the way for the future development of a master-planned community, has been welcomed by the Guardians of New Zealand Superannuation, manager of the New Zealand Superannuation Fund.
The Super Fund is one of several partners in Beachlands South Limited Partnership, which also includes Russell Property Group and partners, Ngāi Tai ki Tāmaki, and Hāpai Development Property LP.
Independent Commissioners acting on behalf of Auckland Council approved the plan change in April 2024, but that decision was appealed. Issues raised by the appellants have now been resolved, following negotiations between them and project manager Russell Property Group.
Guardians Acting Head of Direct Investment Hishaam Mirza says the project to effect the plan change gave the Super Fund a chance to employ the competitive advantages that come with being a genuine long-term investor in a local context.
“Large-scale investment opportunities that satisfy our financial and environmental impact criteria and also create lasting benefits for our community are relatively rare,” said Mr Mirza.
“This has been a lengthy process, but a very satisfying conclusion.”
To learn more about the proposed development, and the long-term vision of how it will enhance the natural environment, support the local community, and contribute to the wider Auckland region, visit the Beachlands South website: https://nzsuperfund.cmail20.com/t/d-l-swgll-hujkdust-h/
