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Development potential in popular Te Atatū Peninsula

NZ_AucklandCBD_Communications_Development potential in popular Te Atat Peninsula

An expansive development site in the popular Te Atatū Peninsula that is zoned Business – Town Centre will provide buyers with the opportunity to plan their next major project in one of Auckland’s fastest-growing suburbs.

3 Pringle Road, Te Atatū Peninsula is a strategically located 8,141sq m freehold title that is just off Te Atatū Road and the prominent corner site offers 244m of total street frontage with multiple access points.

The property is in the heart of the recently developed Te Atatū Peninsula town centre and there’s a range of amenities nearby, including Countdown, the Te Atatū Peninsula Community Centre, and Jack Pringle Park.

Colliers Directors Peter Herdson, Blair Peterken, and Josh Coburn have been exclusively appointed to market the property for sale and are taking expressions of interest with a closing date of Thursday 21 October.

Herdson, National Director of Capital Markets at Colliers, says the zoning makes this a highly attractive property for buyers who will have a blank canvas to work from in one of West Auckland’s most sought-after suburbs.

“The Business – Town Centre Zone provides for a wide range of activities including commercial, leisure, residential, tourist, cultural, community and civic services, providing a focus for commercial activities and growth,” Herdson says.

“The 27m height overlay opportunity is intended to facilitate increased intensification, including office and residential activities at upper floors. The site is one of the largest residential development sites remaining in the Te Atatū area and could be used for terraced housing, apartments, or townhouses.”

Given its waterfront location, Te Atatū Peninsula offers exceptional views of the Waitematā Harbour and central Auckland skyline, while there’s a number of restaurants, retailers and bars in the area.

There is easy access to the nearby motorway network and large suburbs Henderson and Westgate are only a short drive away.

Peterken, Director of Capital Markets at Colliers, says Te Atatū Peninsula is in the midst of a population surge and subsequent real estate boom.

“As of the 2018 Census, 3 Pringle Road’s primary catchment had a population of 13,344 with a further 75,555 residents in its secondary catchment. As we understand, a significant number of recent developments are likely to have pushed these numbers up, highlighting Te Atatū Peninsula as a rapidly growing area,” Pederken says.

“The positive outlook for the Te Atatū Peninsula catchment suggests there will be continued demand for housing options. The area has a strong level of household income compared with national and Auckland averages. Its proximity to the CBD and other major employment hubs combined with the amenity in the Peninsula itself means there’s strong potential for robust long-term growth in the area.”

Coburn, Director of Site Sales at Colliers, says Te Atatū Peninsula is popular among families with a number of education facilities within 2km of this property, including Te Atatū Kindergarten, Matipo Primary and Te Atatū Intermediate School.

“Te Atatū Peninsula is a rapidly gentrifying suburb that is experiencing huge growth due its convenient location and outstanding lifestyle that is supported by the beautiful surrounds the Peninsula offers,” Coburn says.

“On top of excellent schooling and other local amenities, there’s also the Waitemata Rowing Club and Te Atatū Peninsula Bowling Club in the area.

“We expect there will be huge demand for this property and encourage all interested parties to undertake their due diligence and contact us immediately.”

The Te Atatu Tavern is situated on the site and is operated by the vendor. When assessing offers, the vendor will consider various options including vacant possession, short-term sale and leaseback, and the duration of the settlement period.


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Peter Herdson

National Director | Capital Markets

Auckland

In 1993 Peter returned to New Zealand from the United Kingdom with several years’ experience in property management and development. During this time, he worked for Vanson Developments (Richard Branson´s property development company) for two years, and in investment and management for Fuller Peiser (Rolls Royce and Vickers Pension Funds). Upon his return to New Zealand, Peter joined Colliers International (NZ) Limited, where he has been ever since.

Peter now leads the Colliers International Capital Markets division, based in the Auckland CBD. The team is proud to have established a new approach to collaborative working within their division, a first the New Zealand marketplace. 

The “Power of Five” approach with the Capital Markets team has driven exceptional outcomes for client service since 2007. The team has adapted a charter unique in the market, with over 100 years of combined experience. The personal and professional networks of 5 directors operating as a cohesive team across all projects, provides maximum leverage and market coverage for our vendors. It ensures an acceleration of all our clients success.

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Blair Peterken

Director | Capital Markets

Auckland

After more than a decade in Australia’s highly competitive commercial property sector, Blair joined Colliers International NZ as Director in the Capital Markets team in April 2017.

Specialising in the sale of larger commercial assets and mixed-use sites around New Zealand, Blair brings a high level of energy and diligence to the industry. His extensive knowledge and educational background ensures he is well-equipped in progressing and developing the Capital Markets team.

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Previous Experience

From 2014 – 2017, Blair was Director and Head of JLL’s South Sydney office where under his leadership, the company  grew from third to first in the South Sydney market in both leasing and sales. In 2015 he was the company’s highest fee earner across the Australian industrial business. Blair specialised in the sale and leasing of larger industrial and commercial assets including mixed-use development sites within the South Sydney market.

Prior to this he was Head of Industrial, South Sydney at CBRE. While at CBRE, Blair won the prestigious Circle of Excellence Award twice for his performances and was highest fee writer in the South Sydney office in 2012 and 2013.

Peterken’s top transaction while in Sydney  was the 2014 sale of a 4.9ha business park in Rosebery, South Sydney to Meriton Group  for A$190,000,000

His two biggest leases were the single largest leasing transactions in South Sydney in their respective years. In 2011, he leased a Goodman-developed, 12,400sq m warehouse and office in Mascot to logistics company Toll, and last year, he leased a Meriton-owned 22,000sq m site in Pagewood to WSI Logistics.

 

A selection of notable sale transactions:

  • Sale of St Kentigern Girls School, Remuera - $40,000,000 +
  • The General  Buildings, 29-33 Shortland Street, Auckland - $42,000,000
  • 110 Symonds Street, Auckland - $38,500,000
  • 1-55 Rothschild Ave, Rosebery - $190,000,000
  • Central Park Business Park,  Greenlane - $209,000,000
  • Bunnings Hamilton South - $25,100,000
  • The Warehouse, Blenheim - $16,380,000
  • NZI Centre, Auckland - $63,000,000
  • Royal Heights Shopping Centre, Auckland - $17,000,000
  • 75 Karangahape Road, Auckland - $23,300,000
  • 5 Nelson Street, Auckland - $9,000,000
  • 66-80 Broadway, Newmarket - $65,000,000

 

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Josh Coburn

Director | Site Sales

Auckland West

Tenacious, personable and driven, Josh Coburn draws on 16 years' experience in New Zealand's property sector in his role as Director of Site Sales at Colliers International. His key focus and passion are delivering quality development opportunities to the market and acting as a partner in the development process to see projects come to fruition.

Futhermore, Josh is the General Manager of Collier's West Auckland Business, overseeing 5 brokers in a rapidly emerging Metropolitan market.

Josh re-joined Colliers International in 2015 after four years working as the Development Manager for Haydn & Rollett Construction - a role in which he focused on development of commercial and industrial properties joint ventures, and commercial-scale residential opportunities.

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