High-profile 2.54ha freehold property for sale at Zone 9, Maki Street
A substantial commercial development site in Auckland’s sought-after Westgate town centre is being offered to the market for the first time.
Colliers International has been exclusively appointed to market Zone 9, Maki Street, for sale by expressions of interest closing at 4pm on Wednesday, 4 October unless sold prior.
The high-profile 2.54ha freehold property is available as a single site, or can be separated into a range of individual sites as required by purchasers.
Sean Finnegan, of Colliers International’s West Auckland-based Site Sales team, says it is an outstanding opportunity to acquire a greenfield site in one of the fastest growing areas of Auckland.
“Auckland’s northwest is the engine room of the city’s growth, with some 30,000 new homes expected over the next 30 years,” he says.
“The area’s residential boom is attracting substantial commercial development to the area, with the creation of 13,300 new jobs expected over the coming three decades.
“However, developers are faced with an ever-increasing shortage of commercial and industrial zoned land in the area, which has made large development sites like Zone 9 hugely in demand.”
Finnegan says the property is zoned Business Light Industry under the Auckland Unitary Plan.
“The zoning allows for a broad range of permitted activities, including (but not limited to) automotive sales, service stations, convenience food and trade retail.”
Located only 20 minutes from Auckland CBD and 15 minutes from Albany, the property is being offered for sale by NZRPG, which has meticulously master planned the Westgate town centre.
“Westgate is the new heart of the northwest and the gateway to this unique area, offering a central hub for the vast growth underway in surrounding areas,” Finnegan says.
Situated at the interchange between the Northwestern Motorway (State Highway 16) and the Upper Harbour Highway, the Westgate town centre is a complete destination to shop, work and play.
“With $1 billion of investment being pumped into the area, the town centre is already a bustling and thriving hub that will have plenty more to offer as developments continue to evolve.”
Finnegan says the Westgate master plan comprises a range of different zones including town centre, commercial, large format retail, business, and home, building and trade precincts.
Zone 9 – which is part of the home, building and trade precinct – is ideally located on the main road of Maki Street with one of the parcels of land enjoying four potential street frontages.
Finnegan says Zone 9 currently forms part of two larger titles and could be subdivided off and sold as one new ‘development ready’ site if a purchaser chooses.
Alternatively, the site can be master planned to accommodate multiple purchasers and their individual size requirements.
“The overall site offers favourable contours. Both titles are of regular shape, and both have huge road frontages and exposure.”
Some 1.45ha of the total site occupies a prime position in front of Mitre 10 Mega and Palmers, with the balance of land occupying the corner of Kokano Road and Maki Street.
Finnegan says Maki Street is highly accessible from the north via Northside Drive and the south via Fred Taylor Drive and Gunton Drive.
“If you head 200m down Maki Street, you’ll arrive at the large format retail precinct of Zone 7. Here, the Westgate Lifestyle Centre provides a range of retail offerings including Harvey Norman, Briscoes, Rebel Sport, Freedom Furniture, Nood, and Lighting Direct.
“In another 300m you’ll arrive at Zone 5, the town centre, which is anchored by the NorthWest Shopping Centre. The town centre boasts speciality shops, food and beverage premises and the community library which is currently under construction.”
The NorthWest Shopping Centre, developed by NZX-listed company Stride Holdings Limited, opened its doors in October 2015.
With some 32,500sq m of lettable space, it is anchored by Farmers and Countdown, along with more than 100 other retailers and restaurants.
Once completed, the Westgate town centre will also offer 6ha of public open space consisting of parks, ponds and recreational facilities.
Colliers International Site Sales Broker Craig Smith, who is marketing Zone 9 with Finnegan, says the northwest’s popularity and the shortage of available land has dramatically increased rental rates.
“Prime rental rates are now becoming more aligned with the traditionally sought-after areas such as Wairau Valley, Silverdale, Albany and Rosebank Road,” he says.
“We are now seeing warehouse rates as high as $140 a square metre, and associated office rates of $270 a square metre.
“Industrial land is still highly sought, which reflects the sector’s underlying strength and strong levels of demand, with values increasing more than 15 per cent in the past year.”
Smith says Auckland’s population is projected to grow by 1 million over the next 30 years, with most of that growth to be based in the northwest.
“Major residential developments are planned or underway in nearby Whenuapai, Red Hills, Westgate, Hobsonville Point, Kumeu and Huapai,” Smith says.
The nearest residential development to Zone 9 is Red Hills, which is expected to deliver 400-450 new homes a year over the next six years, and a further 300 homes a year in the following three years.
Once fully developed, the precinct will provide up to 5,350 dwellings.
“The area has recently gone through a rezoning process under the Auckland Unitary Plan and development is already underway,” Smith says.
“More than 250ha of land is due to be developed, with Universal Homes planning to build 1500 homes on 42ha of land it bought earlier this year.”
Smith says Hobsonville Point, a short 10-minute drive away along SH18, comprises 167ha of land that will be developed to provide 5000 new homes.
“The area has new schools, parks and reserves and a small retail precinct,” he says.
“The ferry service from Hobsonville Point takes passengers to downtown Auckland in just under 40 minutes.”
Smith says Whenuapai is currently going through a major rezoning process.
“The first stage of this highly anticipated development will begin within the next six months, with large-scale development planned for the next 10 years,” he says.
“Infrastructure is already in place or planned for about 5000 dwellings, as well as 93ha of business land that will provide for nearly 3000 jobs.”
Smith says the northwest’s phenomenal growth has made the need for a vastly improved transport network paramount.
“The completion of New Zealand’s largest-ever road project, the $1.6 billion Waterview Tunnel, has made the area more accessible to the outer reaches Auckland, especially improving the access to and from Auckland International Airport,” he says.
“At the heart of the northwest network is the well-connected Rapid Transit Network, which will provide links between Kumeu and the main employment areas in Albany and the central city.
“New park and ride facilities will provide greater access and will also connect with local services, including higher-frequency ferry services to and from the city, Hobsonville and West Harbour.”
Smith says a bus interchange and a park and ride facility is also planned for Westgate.
Motorway access will also be improved, with a direct motorway to motorway connection between SH16 and SH18 to provide a more efficient link between Kumeu, Huapai, Westgate and the North Shore.
“New motorway ramps are being investigated at Squadron Drive and Northside Drive, right on the doorstep of Zone 9.”
Smith says purchasers looking to take advantage of the huge projected growth in the north west will not want to miss this opportunity.
“We’re expecting huge interest, so we’re encouraging developers to avoid disappointment by registering their interest early.”
Keep up to date by following us on Facebook, Twitter, LinkedIn and Instagram.
Get the latest commercial real estate insights and property news.
Looking for commercial real estate? Try our property search or connect with expert commercial real estate agents today.
Need your real estate assessed? Work with our expert property valuation services team.