The opportunity to acquire a large block of residential-zoned land at Drury, South Auckland, is being offered through Colliers International.
The 97.5ha site, on two adjoining freehold titles at 521 & 652 Runciman Rd, is being marketed by Colliers brokers Simon Child, Josh Coburn and James Appleby. The land is for sale via an expressions of interest campaign closing on Wednesday December 7 2016.
The site offers a “substantial landbank opportunity with development upside” in one of New Zealand’s fastest-growing locations, says Child.
“This is a highly strategic location, given Auckland Council’s focus on Franklin District as a high growth area. This will be attractive to landbank investors, with the underlying Countryside Living zone giving the potential to develop the site into 65 luxury lifestyle lots.”
Runciman Road is located just 40 kilometres south of the Auckland CBD, between State Highway 1 and State Highway 22 in the heart of Drury. The site provides elevated views of Rangitoto and the Auckland CBD to the north and the Bombay Hills towards the south, making it ideal for a high-end lifestyle subdivision, says Coburn.
“This is a great spot for rural lifestyle living. It’s only 10 minutes drive to Pukekohe, offering future residents the enjoyment of countryside living with all the necessary amenities including shops, restaurants, cafés and a golf club.”
The land, which is on the market for the first time in over 20 years, is currently used for dairy farming, providing a solid holding income.
The two titles represent the most significant Countryside Living zone south of Manukau City. Under this zoning, Runciman Road has the potential for development to an average density of up to one new lot per 1.5ha.
A draft scheme that has been prepared demonstrates the location of the proposed building platforms, says Appleby. “The draft scheme maximises the stunning outlook and rolling hills, while being mindful of urban design outcomes, including clustering of dwellings suitable for a rural location while still creating a sense of community.”
With the anticipated growth of the Franklin District, higher-income bracket residents are expected to seek an alternative lifestyle to the small-lot subdivision currently taking place in Pukekohe. This belt of Countryside Living zoned land between Pukekohe abd Drury is the most logical and suitable area to provide for this, Appleby says.
Franklin District development
Auckland Council has identified Franklin District as a high growth area and made provisions for an additional 7000 houses to be built in the area, Child says.
“As well as thousands of new houses, the proposed Drury South Business Precinct is to be developed on the eastern boundary of State Highway 1 between the Great South Road and Ararimu Road interchanges. This will further develop the area and create a further 6000 jobs.”
Franklin District’s development is an important part in Council plans to ease the Auckland residential sector’s growing pains, says Coburn.
“Continued high demand for housing, and the changes to the development process through the Auckland Unitary Plan, have seen the Franklin District become the focus of intense development and speculation within the last several years.”
In particular, the interest in Pukekohe, Karaka, Drury, Paerata and Pokeno have seen tens of millions of dollars committed to infrastructure spending to promote the region, and this has led to Pukekohe becoming the fastest growing district in Auckland, he says.