A 1.3 ha mixed use, development site in Massey, West Auckland in close proximity to the Westgate Town Centre, has come to market.
Craig Smith of Colliers International, who along with colleague Andrew Hooper, is selling 408-410 Don Buck Road, Massey, by deadline private treaty closing 4pm on Wednesday 19 August, 2015, says the 13,750 sqm property offers developers an opportunity to add value around future zoning plans.
“The proposed zoning would particularly accommodate a developer looking to transform the front of the site, while potentially maintaining a significant land holding at the rear.”
Under the Proposed Auckland Unitary Plan, the freehold property will be split into two zones.
“The prime 2,004 sqm site fronting onto Don Buck Road will be zoned ‘Local Centre’- intended for convenience retail for the fast growing surrounding community. The 11,746 sqm rear of the property will be designated ‘Future Urban’ allowing for substantial residential development on the land with a sought after north-westerly aspect.”
Smith says the property could also be adapted to accommodate a range of growing needs in the area, such as early childhood centres.
“There is an ever increasing demand for child care centres in West Auckland and a limited supply of suitable buildings or development options. Subject to council approval, this property is perfectly positioned to take advantage of this.”
Hooper says the current ‘foothills and living’ zoned property is occupied by two lifestyle businesses operating on informal lease arrangements returning a small income stream.
“With the property being offered as vacant possession, new owners may have the option to firm up the current lease arrangements that could create longer term holding income while considering future plans for the site.”
The property housing a mixture of small wooden sheds and structures has 36 meters of road frontage on the northern side of Don Buck Road. The 100 meter long site is of irregular shape extending 140 meters at its widest boundary behind existing retail shops on Don Buck Road.
Nearby Westgate is just a short five minute drive along Don Buck Road to the north.
The Westgate Town Centre is the largest master-planned urbanisation project currently underway in New Zealand, says Hooper.
“On completion it will offer a vibrant new focus for residents, retailers, shoppers and visitors in the west of the city, providing a new town centre with community amenities, shopping, business and recreation facilities.”
Auckland Council estimates the first stage of the wider Westgate developments, including new schools, community facilities, open spaces, new roads and transport links will generate 20,000 new jobs.
Hooper says the development is set to become one of the key metropolitan urban centres within the greater Auckland region, offering shopping, entertainment, business and public amenities spread over 56 hectares.
The North Western Motorway with both a south bound on-ramp/off ramp is a short three minute drive away from the property on Royal Road. A further north bound interchange is located five minutes away at Westgate.
Auckland CBD is 15 minutes away in off peak traffic and the Albany Mega Centre and North Harbour Stadium are approximately 20 minutes’ drive to the north.