A unique opportunity has arisen in the heart of Ahuriri, with one of the largest parcels of development land in many years being up being offered up for sale in Napier’s most burgeoning suburb.
The large 4139 square metre site sits over four titles in Waghorne Street, just one block back from the waterfront and whilst currently being used for warehousing, shedding and storage purposes by Napier Provedoring Co the property is ripe for residential development.
Colliers International Broker Danny Blair says that this is a very rare opportunity to snap up a versatile site that has a rateable value of $1.45 million. “This large parcel of land is prime for re-development and being north facing would be well suited to a residential conversion or alternatively a great land bank with potential holding income from the quality existing 2000m² warehouse.”
The site is zoned as Hardinge Road residential which allows for a range of permitted residential and business activities. “This would be a great site for conversion to apartment/townhouses, traveller’s accommodation or a day care centre” says Mr Blair.
The site’s location in the bustling seaside suburb of Ahuriri is a real attraction for developers. Well positioned to Napier’s central city and in close proximity to the Napier Port and Hawke’s Bay Airport, Ahuriri has experienced significant growth over the past ten years with figures from Quotable Value’s three-yearly valuation released in 2014 showed that average capital value has increased by 15% in Ahuriri from 2011.
Ahuriri underwent an extensive development approximately five years ago and the area continues to flourish, with the development of shops, bars, hotels and apartments as well as the Ahuriri business park, which is now the base for a variety of businesses.
There is no density requirements providing to compliance with the other conditions for all land uses elsewhere in the Hardinge Road Residential and buildings can be built up to 11metres. The property is up for sale by negotiation.
View property listing here.