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Perfectly positioned in Panmure

Perfectly positioned in Panmure

A high-profile, freehold corner site in the gentrifying suburb of Panmure is sure to grab the interest of owner-occupiers, investors and developers given the growth potential in the area.

64 Te Koa Road has a land offering of 726sq m with a 98sq m single-level residential dwelling that was constructed in the 1950s but has recently been refurbished and converted for office use.

The refurbished building includes office space, meeting rooms, a kitchen, amenities, and an outside storage area.

The balance of the property consists of a sealed driveway, yard, and nine marked car parks at the rear, which provide access to the building via the service lane.

The property provides the option to create passive income, or the potential for owner-occupiers to relocate to their new premises, while there is also a development opportunity on offer given the combination of zoning and location on a perfectly positioned corner site.

Colliers Brokers Logan Roach, Gareth Fraser and Charlie Oscroft have been exclusively appointed to market the property for sale by auction to be held at Colliers, HSBC Tower, Level 23, 188 Quay Street Auckland at 11am on Wednesday 15 September, unless sold prior.

The property is zoned Residential – Terrace Housing and Apartment Buildings Zone under the Auckland Unitary Plan, which is a high-intensity zone enabling a greater intensity of development than previously provided for.

This zone provides for urban residential living in the form of terrace housing and apartments. The zone is predominantly located around metropolitan, town and local centres and the public transport network to support the highest levels of intensification

Roach, Investment Sales Broker at Colliers, says the zoning is a notable selling point for a property that has an excellent location with vast potential.

“This zoning is a developer’s dream given the prominent position it holds on this corner site in an area that has experienced significant growth recently,” Roach says.

“The property’s zoning allows for a 19.5m height overlay for any future developments, subject to resource consent being granted.”

As per the Auckland Unitary Plan, this zone also provides for a range of non-residential activities so that residents have convenient access to these activities and services while maintaining the urban residential character of the area.

Fraser, Investment Sales Director at Colliers, says while developers will be attracted to the site, it may be the perfect fit for owner-occupiers given the expansive land holding and refurbished premises.

“An owner-occupier will recognise the enormous potential on offer given the functionality of the premises that provides excellent access for customers and clients courtesy of the designated car parking,” Fraser says.

“This property has excellent street frontage with large volumes of passing traffic from the access roads. It is strategically located off the arterial route of Tripoli Road, which connects the site to the surrounding suburbs of Pakuranga, Glen Innes, and the Eastern Bays.”

Oscroft, Investment Sales Director at Colliers, says Panmure is a suburb that will continue to experience growing demand given the dynamic commercial environment.

“Panmure and its surrounding suburbs have experienced significant growth and gentrification in recent years through several local initiatives such as the AMETI Eastern Busway Project and Tāmaki regeneration programme, which provide substantial investment from local and central government,” Oscroft says.

“The property is only 2km from the Panmure bus and train station, providing excellent access to public transport, while it is also only 16km from Auckland’s CBD.

“We urge all interested buyers to contact us immediately to undertake their due diligence to avoid disappointment.”


Related Experts

Logan Roach

Broker

Auckland

Logan forms part of the Auckland CBD Investment Sales Team at Colliers International. Prior to Joining Colliers, Logan completed a Bachelor of Commerce from the University of Auckland swiftly moving into the role of Business Development Manager for New Zealand’s largest specialised waste & recycling equipment supplier. Utilising the skills obtained from this role, Logan now applies this knowledge to his strong interest of commercial real estate.

Logan places emphasis on creating and developing long lasting relationships by putting the needs of his clients first, to achieve the best possible results. He specialises in the Panmure, Glen Innes, Mt Wellington, Ellerslie, Greenlane and Eastern Suburbs areas.

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Gareth Fraser

Auckland Director - Investment Sales

Auckland

Gareth leads Colliers International's Investment Sales team. The team operates across the entire Auckland market from four strategic locations; CBD (including city fringe), South Auckland (based in Highbrook), West Auckland (based in North West Shopping Centre) and North Shore (based in Takapuna).

This is a large team of brokers and support staff focussed on providing solutions to owners, investors, developers, owner-occupiers and tenants. It features a specialised site sales team focussed on residential land and development opportunites. Investment Sales also includes the syndication division, offerring proportionate ownership opportunities to investors on behalf of clients.

Gareth is also on the Executive Team for Colliers in New Zealand.

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Charlie Oscroft

Director

Auckland

With an extensive background in many real estate markets spanning London, Hong Kong, Brisbane, Perth and Auckland, I bring a wealth of experience to Colliers International in client management and delivering 5 star customer service.

Charlie specializes  in both the sale of commercial, retail and industrial property as well as Syndication sell downs on behalf of clients. He is one of the leading sales brokers promoting the Auction Business.

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