Dargaville Racecourse Market Demand Analysis

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Project Details

Dargaville Racing Club, Dargaville Community Development Board, Te Rūnanga o Ngāti Whātua
Property & Development
Dargaville, Kaipara, Northland
Castalia Advisors, The Property Group

Market demand analysis for the Dargaville Racecourse site development to understand market willingness and capacity to deliver, lease, rent or purchase commercial, industrial or residential properties in Dargaville.

An opportunity to develop the Dargaville Racecourse site was enabled through a tripartite arrangement with the Dargaville Racing Club, the Dargaville Development Board and Te Rūnanga o Ngāti Whātua. Needed to understand the local and regional market demand for commercial, industrial and residential property that could be realised in Dargaville.

Desktop research of demographic and market statistics, and engagement with market experts, including real estate agents, valuers, property owners, business owners from across Kaipara, Northland and Auckland and metrics for commercially viable development (GFAs, leasing rates, yields, etc.).

A qualitative housing demand survey and focus groups with older residents to understand the housing tradeoffs and aspirations of people in Kaipara.

This analysis identified three options for the market to respond to this opportunity, depending on developer or client objectives, including financial returns, timeframes and the realisation of wider economic benefits to Dargaville.

The qualitative and quantitative insights from this work were used to inform development feasibility analysis and collectively these analyses were part of the overall evidence submitted to Kaipara District Council to support the plan change application.