Trophy Ellerslie development site with new mixed-use zoning

Trophy Ellerslie development site with new mixeduse zoning

A trophy mixed-use landholding only 150m from the Ellerslie train station is for sale with a new title and zoning allowing for intensive redevelopment of up to 44m in height.

The 9,025sq m property is situated at the northern boundary of Central Park – a premium commercial precinct on Great South Road, at the heart of Auckland’s Southern Corridor.

Richard Kirke, International Director of Colliers International’s Capital Markets team, says the vendors have added significant value since the land was first identified as surplus.

“The property has been newly re-titled and re-zoned from Business Park to Business Mixed Use, allowing for much broader range of intensive redevelopment options.

“The zoning change will allow a new owner to explore a combination of residential, retirement or accommodation uses, in addition to the mostly commercial uses allowed under the previous zoning.

“Bolstering the site’s appeal is the surge in demand for development land – particularly with residential or mixed-use zoning – that has characterised the property market in recent months.”

Kirke says Colliers alone has sold $440 million of development land in Auckland since the first Covid-19 lockdown.

“The property for sale is exactly the type of offering that developers, land-bankers and investors are seeking in the current market.

“The freehold site provides significant redevelopment potential, a strategic location, excellent transport links and huge exposure to New Zealand’s busiest stretch of road.

“It boasts 152m of frontage to the Southern Motorway, which sees an average of 200,000 passing vehicles a day, and is well-served by public transport, with regular buses along Great South Road and trains every 10 minutes at peak times via Ellerslie train station, only two minutes’ walk away.

“With a new title and zoning in place, this is an ideal chance for a new owner to unlock the huge potential of this impressive landholding.”

Colliers International has been exclusively appointed to market Lot 15, 660 Great South Road, Ellerslie, for sale by expressions of interest closing at 4pm on Thursday 26 November, unless sold prior.

Josh Coburn, Site Sales Director at Colliers, says it is one of the largest development sites available in Auckland’s central suburbs.

“With a 44m height limit and no gross floor area cap, the potential scale of development is significant. Two indicative development envelopes have been identified to highlight what could be achieved.

“The site could accommodate a three-level, low-rise development with an oversize floor plate, providing 16,800sq m of space that would suitable for high-tech uses, storage or warehousing.

“Alternatively, the site could accommodate two 11-storey towers with a total floor area of 33,500sq m, suitable for office, hotel or residential use.

“Potential buyers are encouraged to seek their own planning advice to further explore the site’s development potential.”

The site currently comprises on-grade, asphalt-sealed land with no buildings, previously leased for car parking.

A new owner has the potential to generate short-term holding income through car parking licences to tenants in the surrounding area.

Gareth Fraser, Auckland Director of Investment Sales at Colliers, says a new development would benefit from the significant amenity already on offer within Central Park and the nearby Ellerslie town centre.

“Central Park is a premium corporate office precinct providing 44,000sq m of space across 11 buildings on a 4.9ha site.

“Key tenants include Mars, Restaurant Brands, NZTA, Colgate, Bunnings, Sealord and BOC.

“Central Park also offers extensive amenities, including an on-site childcare centre, gym and cafes.

“Since Oyster took over management in July 2018, there has been significant investment in enhancing the business park’s environment and amenity.

“An exciting recent development is The Green – a new 650-seat food and beverage precinct that will be unrivalled in the Southern Corridor. Targeting an opening in March 2021, the precinct is currently under construction in a former car park area with direct linkage to the site for sale.

“The Green will provide a range of food and beverage options along with a new public recreation and activation space to accommodate pop-ups, barbeques and other events. This will be complemented by new landscaping and pedestrian-oriented shared spaces.”

The site for sale is directly accessed via Sultan Street to the north with additional access via the business park.

To the south, resource consent has been submitted for a mixed-use scheme comprising 103 hotel rooms, 46 visitor accommodation units, 85 apartments, 3,700sq m of office, plus a conference room and cafe.

Fraser says the site for sale is perfectly positioned to benefit from all the activity taking place in the surrounding area.

“With so much going on at Central Park and within the wider Southern Corridor, this is a development opportunity not to be missed.”


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Richard Kirke

Director | Capital Markets

Auckland CBD

Richard is responsible for the promotion of New Zealand property to international investors, leveraging of his relationships developed in executive positions during his near 8 years in Hong Kong, as well as assisting to grow the company’s nationwide Rural and Agribusiness agency capability.

Richard began his real estate career in 2004 with CBRE, in the five years he spent with them (before leaving to run Colliers Hong Kong business in 2008) he was involved in many notable transactions including the sale of the Lion Nathan site in Newmarket for $162m, the sale of the GE & BNZ Britomart properties on behalf of Manson’s to the German fund HIH and portfolio sales, including the successful auctioning of 16 National Bank Branches across New Zealand.

During his time as MD of Colliers Hong Kong he was involved in the sale of 50 Connaught Road on behalf Apollo Group (a New York based Hedge Fund) to the Agricultural Bank of China for $US632m.

Richard was the Managing Director of Colliers Hong Kong office for six years from 2009-2014. During this time he was an active participant in several high value transactions and developed broad relationships with both Asian investors and colleagues across the region.

In late 2014, Richard agreed to run CBRE’s Asia Pacific Capital Market business, including their Capital Advisory (Real Estate Investment Banking) business, this further added to his knowledge of real estate investors, particularly in greater Asia.

As a senior executive of Colliers for 6 years in Hong Kong, Richard has strong personal relationships with Colliers personnel across the globe.

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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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Gareth Fraser

Auckland Director - Investment Sales

Auckland CBD

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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