Press Release – Bayhill Developments Ltd
21 April 2017
MEDIA RELEASE on behalf of Bayhill Developments Ltd
Confirmation of resource consent for the demolition of the Hydro Grand and development of mixed use complex, the ‘Bayhill’ at 10 Bay Hill, Timaru.
Developers of the proposed mixed-use complex at 10 Bay Hill, Timaru, say the granting of resource consent for the $42 million development is a positive step towards Timaru’s urban revival.
“It’s gratifying to get through the consent process with a positive outcome, but the hard work really starts now,” said Bayhill Developments director Allan Booth. Booth, who has owned the Hydro Grand site since 2013, believes it’s great news for the resurgence of Timaru’s CBD.
“There has been a lot of debate about the merits of the development, but what is clear to everyone involved is that doing nothing wasn’t an option.”
Booth says confirmation of consent was realistically a starting point for the development. “Our planning is well advanced but a lot has to happen before we even get to demolition stage and that will likely be several months away.”
According to Booth, whose co-backer in the development is Agribusiness stalwart Alan Pye, progress was also largely dependent on marketing and pre-sales of the residential units. “Overall we are looking to sometime late 2019 for completion.”
The resource consent application for the 3-stage development, which includes a seven-floor apartment building, an office building as well as a hotel, was lodged in August last year.
Booth believes the Bayhill, as it will be known, will kick-start the revitalisation of Timaru’s CBD, developing it further as a hub for commerce and inner city living.
The consent’s approval is conditional on an appeal period of 15 business days.