Skip to main content Skip to footer

Unique development site in Mount Albert with consents in place

NZ_AucklandCBD_Communications_Unique development site in Mount Albert with consents in place

Two titles on offer providing a consented mixed-use, high-profile corner site and an adjoining nine car parks on a separate title in one of Auckland’s most prominent city fringe suburbs has become available to purchase.

The prime future development site at 5/11 Morning Star Place in Mount Albert is located across the road from Westfield St Lukes and consent has already been granted for an eight-unit apartment development with a 110sq m commercial tenancy, and four basement car parks to complement the nine additional car parks that are located on a neighbouring additional title.

The approved resource consent allows for two three-bedroom apartments, two two-bedroom units, and four one-bedroom apartments, providing a popular mix of dwelling typology in a market that remains in undersupply.

Colliers Brokers Jonathan Lynch, Ned Gow and Gawan Bakshi have been exclusively appointed to market the property for sale by auction to be held at 11am on Wednesday 20 October, unless sold prior.

The subject site is located on the corner of Saint Lukes Road and Morning Star Place. This corner is also positioned on the intersection of Morningside Drive and the site is part of the wider Morning Star Place development that hosts a mix of commercial and residential units.

There is a range of local amenities nearby and renowned high school Mount Albert Grammar School is only a few minutes away.

Lynch, Associate Director of Investment Sales at Colliers, says this property is strategically located and represents an excellent development opportunity.

“Spread across two unit titles, this shapes as a highly sought-after site given demand for land in Mount Albert is high but in short supply,” Lynch says.

“It is rare to see such a prominent site with so much future potential come to the market. The turnover of property within the Mount Albert commercial precinct is incredibly low.

“With resource consent in place, this is a fantastic opportunity for a developer to come in and put their own touches on the project before construction gets underway.”

Gow, Investment Sales Broker at Colliers, says the site is near multiple transport links, and the neighbouring shopping centre offers bus routes towards every area in Auckland.

“Morningside Train Station is only 1km away, which will take you to Britomart in only 25 minutes, providing convenience for commuters who work in the city,” Gow says.

“The Northwestern Motorway on-ramp is also easily accessed via Saint Lukes Road with a 10-minute drive to the Auckland CBD.”

The property is zoned Business – Mixed Use Zone, which is typically located around centres and along corridors served by public transport.

The zone provides for residential activity as well as predominantly smaller scale commercial activity that does not cumulatively affect the function, role, and amenity of centres. The zone does not specifically require a mix of uses on individual sites or within areas.

It also applies to areas where there is a need for a compatible mix of residential and employment activities.

Bakshi, Investment Sales Brokers at Colliers, says the mixture of a prominent location with favourable zoning and consents in place makes this an attractive property.

“Higher density dwelling development opportunities are keenly sought-after across Auckland’s suburbs,” Bakshi says.

“Colliers Research shows that around 60 per cent of apartment developments are to be built in suburban areas during the next few years, compared to 28 per cent in the CBD, as people choose homes supported by amenity and transport connectivity.

“The government’s backing of new homes from a lower deposit perspective and less stringent tax requirements than existing premises currently under discussion are also favourable aspects, not to mention an almost daily coverage from media of rising house prices in an undersupplied sector.”


Related Experts

Jonathan Lynch

Associate Director

Auckland CBD

Senior expertise in Commercial Property Sales and Leasing in central and city fringe Auckland. Completed over $500 million+ sales transactions over the previous 9 years since joining in early 2010 with a focus on investment properties, mixed-use developments, redevelopment sites comprising under-utilised improvements, land sales and office, retail and warehouse leasing.

BBS Degree (Massey University) majoring in Real Estate; 10 years of business development experience in the FMCG sector and previous role as a property manager at Jonmer Projects providing a comprehensive understanding of key drivers in both general business and the property market, together with the added benefit of an appreciation of client liaison & needs.

Client feedback example:

"I'm delighted to be able to offer the sincerest thanks from the owners of 36 Rossmay Terrace and 52 St Lukes Road. Your diligence and professionalism throughout every aspect of these campaigns for the sale of both properties was a strong factor in the extraordinary results achieved for the vendors in each case.

I would be readily recommend you as a 'dream team' within the superb Colliers group." - Parnell Services Limited (for Jonathan Lynch & Hamish Paterson)

Please contact me on 021 900 611 for all or any commercial property advice

View expert

Ned Gow

Broker

Auckland CBD

Ned forms part of the Colliers Investment Sales team operating out of the Auckland CBD office. His expertise range from his early experience in the industrial sector and current involvement in the commercial market. Ned specialises on Auckland’s competitive fringe market where he’s had major involvements in record setting transactions, selling over $100 million worth of property since starting in 2018.

 

Having an early passion for real estate, Ned completed a Bachelor of Property at The University of Auckland whilst working for another commercial real estate corporation. He clearly enjoys the grit of brokerage showing dedication and diligence through a highly enthusiastic attitude and hard work ethic.

 

Recent Sales:

55 Carr Road, $2,430,000 - $3,000m2 land rate

213 Ponsonby Road - $5,000,000

Milford Development site  - $13,050,000

92 Beachcroft Ave, Onehunga - $10,075,000

Hillcrest Development site - $4,500,000

29 Woodside Avenue,  Northcote - $3,150,000

Onehunga Mall Retail  - $1,250,000 - 4.64%

Industrial Portfolio – West & North Auckland - $4,500,000

568 Te Atatu Road, Te Atatu Peninsula - $1,600,000 – 4.84%

Unit 2, 19 Edwin Street, Mt Eden - $2,750,000

Unit C, 174 Marua Road, MT Wellington - $1,260,000

533 Mt Albert Road, Three Kings - $3,350,000

666 Dominion Road, Mt Eden - $3,050,000 – 4.7%

151 Onehunga Mall, Onehunga - $930,000 – 4.3%

231-233 Onehunga Mall - $930,000

Unit 21, 71 Jellicoe Road, Panmure - $800,000 – 5.89%

212 Jervois Road, Herne Bay - $1,950,000 - 4.07% yield

158 Onehunga Mall - $4,250,000

292 Onehunga Mall - 5.50%

300 Onehunga Mall - $1,720,000 - $2,700m² land rate

191 Onehunga Mall - $3,420,000 - 4.00%

75 Ellice Road, Wairau Valley - $2,900,000 - 5.80%

19 Busby Street, Blockhouse Bay - $1,445,000 - 5.82%

758 Dominion Road, Mt Eden - $1,227,000 - 5.79%

274 Dominion Road, Mt Eden - $2,625,000 - 4.00%

575-579 Sandringham Road - $1,800,000 - 4.00%

134 Onehunga Mall - $1,460,000

176 Dominion Road - $1,443,000

28-36 Wellesley Street - $1,250,000 - 5.44%

View expert

Gawan Bakshi

Broker | Investment Sales

Auckland CBD

Gawan is a solutions-focused and proactive member of the Colliers International Investment Sales team, based in Auckland CBD. He specialises in scouting and matching suitable investment opportunities for individual property owners, family trusts, high profile national property and retail groups. He is the area expert for Mount Roskill, Three Kings, Hillsborough, Onehunga, Mount Albert, and Sandringham with extensive knowledge and local information for each suburb.

Gawan’s Bachelors of Commerce and Bachelors of Property from University of Auckland have equipped him with the technical expertise required to identify the benefits and risks associated with each property and provide reliable and professional advice to his clients. He goes to length to ensure his clients have access to all the relevant information and are able to overcome challenges with his advice, before making a final decision.

Gawan’s thorough understanding of property investment and market conditions, paired with his proficient localised knowledge means he is able to discern every deal carefully on a case by case basis to achieve the best possible outcome for his clients.

Gawan speaks fluent Hindi and Punjabi and understands Gujurati and Urdu, making him an important member of the team with the ability to access and communicate with this growing market audience.

View expert