A large parcel of land in a highly visible location with frontages to Sunset Road and Parkway Drive on the North Shore is sure to grab the attention of developers looking for a premier landholding for their next major project or investors looking to land bank for value gains.
54 Parkway Drive, Rosedale is a 7,291sq m freehold site that is zoned Business – General Business Zone under the Auckland Unitary Plan and has a resource consent in place for a major mixed-use development, which includes multiple office and apartment buildings.
The site will be well-known to many, located adjacent to the Constellation Bus Station and North Shore Police Station near Constellation Drive. The large site spans across from Parkway Drive all the way through to Sunset Road.
The prime development site is surrounded by multiple local amenities, while providing excellent access to the Northern Motorway and public transport links.
Chand, Director of Investment Sales at Colliers, says this property is perfectly positioned in a popular part of the North Shore that is experiencing significant growth.
“The site is well-placed to be developed and is located near the busy Constellation Bus Station that offers park and ride facilities, providing commuters with a hassle-free trip into Auckland’s CBD,” Chand says.
“There are multiple major retail stores nearby, including a Bunnings Warehouse and Hunting & Fishing, which are only a few minutes’ drive away. Constellation Drive is also home to a selection of popular eateries, offering something for everyone.
“Westfield Albany, which is the focal point of Albany’s growing retail and hospitality precinct, can be reached in approximately six minutes.”
Coburn, Director of Site Sales at Colliers, says it is incredibly rare to see a site of this size become available on the open market at a time when there is such a high demand for land.
“Developable land in highly populated areas of Auckland remains in incredibly short supply so this parcel of land will hold significant appeal for buyers of all kinds who will recognise the tremendous growth potential and long-term upside that is on offer,” Coburn says.
“Concept plans have been drawn up for the property if a developer wished to make use of the site to construct apartment complexes but given its sought-after location, this prime piece of land could be positioned for a number of future uses.
“High-density housing in Auckland continues to generate huge interest among buyers and tenants alike so this property could become a key residential hub of the area.”
Prentice, Director of Industrial Sales and Leasing at Colliers, says this part of the North Shore will continue to enjoy enhanced accessibility in the future due to the ongoing Northern Corridor Improvements project.
“This project represents a substantial investment for the North Shore and will allow better links to the growing north-west region of Auckland, while improving access in and out of neighbouring Albany,” Prentice says.
“The project will also aim to ease congestion along Upper Harbour Highway supporting future freight and economic growth throughout the region. Improvements to the Northern Busway will also assist public transport users.
“We encourage all interested parties to do their due diligence and contact us immediately to ensure they can acquire a large parcel of land that has a vast amount of potential and will present long-term upside for the new owner.”