A highly accessible city fringe site with intensive redevelopment potential is for sale in the fast-appreciating Auckland suburb of Point Chevalier.
Situated only one lot back from Great North Road, the property at 8 Walmer Road is a 919sqm freehold site with Business Town Centre zoning, allowing for development up to 18m in height.
It has enormous potential for a variety of uses, including residential, commercial, retail, hospitality and accommodation.
The bare landholding is being offered for sale with vacant possession, allowing a purchaser to waste no time in taking full advantage of the generous zoning.
Colliers International has been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Wednesday 25 March, unless it sells earlier.
Jonathan Lynch, Associate Director of Colliers’ Auckland Investment Sales team, says it is a chance to acquire one of the most accessible development sites on the city fringe.
“This property is conveniently located at the heart of Point Chevalier, only 5km west of the CBD.
“It sits less than 50m from the intersection with Great North Road, which is the main arterial route linking the popular suburbs of Grey Lynn, Ponsonby, Westmere and Mount Albert.
“Bus routes, cafes and restaurants are all within easy walking distance, while Auckland’s motorway network is highly accessible.
“The Western Springs motorway interchange is located only 1.5km to the east, while the Waterview Tunnel is 600m to the west.
“A high level of amenity is on offer including a Countdown supermarket, Unitec, the Chamberlain Park Golf Course and Western Springs. Businesses in the immediate area include ASB, Hammer Hardware, McDonald’s and KFC.
“This outstanding location underpins the enormous development potential of 8 Walmer Road.”
Broker Hamish Paterson, of Colliers’ Auckland Investment Sales team, says there is a compelling case for a mixed use development on the site.
“The residential market in Point Chevalier continues to significantly outperform the wider market, with median house prices appreciating at a greater rate than the rest of Auckland City.
“The median house price in Point Chevalier is now at $1.69 million – up 22 per cent from a year ago, and considerably above the median sale price for Auckland City.
“Attesting to the popularity of the location is the development of a high-end apartment complex opposite the site, at 9-11 Walmer Road.
“On Point is the first project of its kind in Point Chevalier, offering 33 boutique apartments with a mix of one, two or three bedrooms.”
Paterson says the property for sale provides 18m of frontage to Walmer Road.
It comprises a regular-shaped site with a gated entrance and asphalt paving over most of the site. Stormwater and wastewaters services are provided to Walmer Road.The site has potential to generate holding income from car parking until a new owner is ready to develop.