A massive landholding suitable for residential development in one of Auckland’s, and New Zealand’s, fasting growing regions is now for sale.
The freehold, 18.3 hectare block of land at 2110 East Coast Road, just one kilometre from Silverdale town centre, is for sale by deadline private treaty on Wednesday 14th October, 2015, unless sold prior.
Brad Visser who, with colleagues Jimmy O’Brien and Tim Lichtenstein of Colliers International, is marketing the property says the land - offered to market for the first time in 16 years - is situated within a prime retail, residential and commercial location that is becoming the new service hub of northern Auckland as well as providing the gateway to the Hibiscus Coast.
“This property is ideally placed to meet the demands of what is a rapidly-transforming and population-booming location.
“Silverdale has been identified as one of Auckland Council’s top five areas for development and is earmarked as the future commercial heart of the Hibiscus Coast, catering to the significant forecast population growth in the region.
“By 2031, there are expected to be 140,000 people residing in Rodney. This represents a growth rate of 37 percent since 2011, which is faster than the adjacent North Shore region, as well as the overall Auckland region.”
Lichtenstein says a recent Environment Court ruling has granted residential use over the site, as part of a development concept plan submitted by a group of neighbouring land owners.
“This is subject to an agreement including the Development Concept Plan being consented over the property and its three neighbours. However the resource consent could enable residential development at a ratio of one site per 250 sqm on the property.
“The Auckland Council notified Plan Change (123) involved submissions from landowners and subsequent appeals that resulted in the now operative Special 35 zoning coming into effect following an Environment Court order. However, new owners may still consider a private plan change if they wanted to vary from the existing, consented plan.”
Lichtenstein says the growing Silverdale catchment has surged into public awareness recently with the migration of several large retail developments and their blue-chip tenants who have invested there because of the areas fast-changing demographics.
“Pak N Save, Bunnings and The Warehouse have driven this migration, particularly The Warehouse which has created 15,000 sqm of bulk retail space.
“This retail growth seeks to capitalise on approximately 3,000 homes currently planned in the Millwater development being built by Fulton Hogan just a couple of kilometres northwest from this landholding on offer.
“Millwater is certainly satisfying some of the region’s housing demand, but with more people moving into the region, demand is still outpacing supply and further substantial growth is planned and accounted for in the area.”
O’Brien says that as Rodney’s population grows; spending in the area will also grow.
“Annual household expenditure is projected to grow from $876 million in 2011 to $1.2 billion by 2031, representing 51% growth.
“The Millwater development, along with the expected population increase within Silverdale Centre’s catchment, means the future for developers here looks sound.”
The property for sale enjoys almost 300 metres of road frontage to East Coast Road – one of the main arterials for the area which intersects just a couple of hundred metres from the Hibiscus Coast Highway, says O’Brien.
Hibiscus Coast Highway passes immediately to the north of the land block via the northern motorway on and off ramps, and Auckland’s central business district is only a 20 minute commute in off-peak traffic.
The Silverdale area already has three primary and three secondary schools along with numerous golf courses, beaches and reserves a short distance from this land offering.
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