The entrance to 859 Maungatautari Road where services have been or are being upgraded.
The sale of part of a council-owned rural property near Lake Karāpiro has fallen through and is back on the market.
Four new water meters at 859 Maungatautari Road. Photo: Mary Anne Gill
The subdivided Lot One of four on Maungatautari Road, expected to go unconditional last month, did not settle and is being offered again, this time as a deadline sale with wider marketing.
The News understands the agreed price was $915,000, but the potential purchaser was unable to sell their own property to complete the deal.
The property is being marketed as a lifestyle opportunity near Cambridge and Lake Karāpiro, signalling a more traditional sales approach than the earlier process.
When The News reported on the proposed sale in April, sources said the subdivided lot was expected to sell for less than $1 million, but above its most recent council valuation.
The land forms part of a 19.481 hectare Maungatautari Rd property bought by Waipā District Council for $5.32 million in 2021. The council has been working through a subdivision plan to create three rural residential titles and a larger balance lot, with proceeds intended to help fund improvements at Waipuke Park and extend Te Awa cycleway connections.
Councillors approved the subdivision in May last year. Māori ward councillor Dale-Maree Morgan abstained from voting.
Information released to The News under the Local Government Official Information and Meetings Act earlier this year showed the initial sale attracted limited interest, and one offer was withdrawn before a second conditional agreement was reached.
The entrance to 859 Maungatautari Road where services have been or are being upgraded. Photo: Mary Anne Gill
The tree and hedge-lined driveway which the four lots at 859 Maungatautari Road will share. Potholes identified in a 2025 valuation report appear to have been repaired. Photo: Mary Anne Gill
