The fast-growing town of Rolleston will receive a further population boost after the announcement of yet another major new subdivision.

The master-planned subdivision, to be called Stonebrook, has been fast-tracked by developers CDL Land NZ to meet post-earthquake demand. It will deliver 420 sections over a 42-hectare site alongside State Highway 1 on the township's western outskirts.

The announcement brings the number of new sections promised for the town to over 2200, and the number of subdivisions involved to more than 10.

CDL has already developed the smaller Millgate subdivision on a site next to Stonebrook and is a partner in the massive Prestons residential development in Christchurch. It is an arm of Singapore conglomerate City Developments Ltd, which also owns the Millennium and Copthorne hotel chains.

The company's managing director, BK Chiu, described Stonebrook as a "significant investment" and said work was about to start on infrastructure and roading. The company has owned the former farmland for about 10 years.

"We have fast-tracked it because of the earthquake, there has been so much demand. It is good land and it is our fastest subdivision consent ever."

Titles will be ready for buyers by the middle of next year.

Sections in stage one will range in price from $140,000 to $170,000, and cover between 400 and 900 square metres.

Chiu said that despite the number of subdivisions in Rolleston, the company was confident of attracting buyers. Ninety sections would be made available initially, with the rest to follow according to sales.

The resource consent from the Selwyn District Council requires a three-metre-high sound buffer between the housing and the state highway, and extra soundproofing for houses nearest the road.

Included in the project would be terraced housing, shops, public spaces, walkways, a realigned central water race with reserves and bridges, and possibly a pre-school.

Expansion since the earthquakes has helped make Selwyn the fastest-growing district in New Zealand, driving house values up 12 per cent in the past year to an average of $430,000.

Rolleston now has an estimated population of 9000, up from 3800 at the time of the last census six years ago. Other major subdivisions in the town include Faringdon and Park Lane Estates.

- © Fairfax NZ News

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