Rare opportunity to secure prime development land in premium business park
A substantial 1.15ha development site at the gateway to the North Shore’s Akoranga Business Park, only 10 minutes from Auckland’s CBD, is on the market for the first time in more than 20 years.
The Warehouse Group has exclusively appointed Colliers International to market the mixed-use landholding at 2-20 The Warehouse Way, Northcote, for sale by expressions of interest.
EOI responses are to be lodged by 4pm on Wednesday 31 October.
Capital Markets Director Jason Seymour is marketing the property with Site Sales Director Josh Coburn and Capital Markets National Director Peter Herdson.
Seymour says it is an exceptionally rare opportunity to secure prime development land in one of Auckland’s premium business parks.
“Located just 3.5km from the Auckland Harbour Bridge, the landholding is superbly positioned at the gateway to Akoranga Business Park – the North Shore’s closest premium business park to the CBD.
“This readily accessible and highly visible commercial precinct overlooks the Esmonde Road motorway interchange, providing access to sought-after suburbs including Takapuna and Devonport.
“Offered for sale for the first time in over 20 years, this opportunity is further proof of just how rarely prime development sites of this scale and location are made available.”
Seymour says Akoranga Business Park is a commercial success story, having accommodated some of Auckland’s best-known corporate tenants.
“Staged development began in the late 1990s, with The Warehouse Group’s office complex providing the catalyst for further development.
“The company has continued to expand its presence on the site, while other corporates have moved into the area following the development of four more office buildings.
“Akoranga Business Park today houses some well-known national and global technology and construction companies including Canon, Samsung and Haydn & Rollett.”
Coburn says the park is now ready for the next phase in its development, with the potential to add significant further amenity to the precinct and the wider community.
“It is increasingly difficult for developers to purchase or aggregate large bare land parcels this close to the CBD, particularly in areas experiencing high growth.
“In offering this strategic site for sale, The Warehouse Group is seeking a purchaser with the capability and vision to complement and add to the level of amenity within the park.”
Coburn says the site has Business Park zoning under the Auckland Unitary Plan, which is designed to recognise existing business parks.
“This zoning applies to areas of high amenity, comprehensive master planning and proximity to rapid and frequent transport services.
“It enables moderate to intensive office activity along with some ancillary services such as gyms, childcare and food and beverage outlets.
“Other developments might include short stay accommodation, education, conference facilities, health and medical, supermarkets up to 450m, recreation facilities, labs, light manufacturing, warehousing and storage.”
Herdson says the site is accessed directly off The Warehouse Way with about 155m of street frontage to Akoranga Drive.
“The site offers convenient access to Auckland’s public transport and motorway systems, being a 15-minute walk from the Akoranga Bus Station which serves the Northern Busway.
“In the immediate area, major occupiers include the AUT North Campus directly opposite on Akoranga Drive and the Northbridge Residential Retirement Village.
“The wider Northcote area and the adjacent suburb of Northcote Point are the first suburbs encountered when driving over Auckland’s Harbour Bridge heading north.
“These well-established commercial and residential areas are easily accessible to the wider North Shore suburbs of Takapuna, Milford and Devonport to the east and Birkenhead, Glenfield and Hillcrest to the west.
“Major retail centres are located in Birkenhead, Takapuna, Glenfield and Albany, with local amenity at Northcote Centre, where major refurbishment is planned.”
Northcote has Town Centre status under the Auckland Unitary Plan, which encourages greater intensification and population growth.
Auckland Council’s development organisation, Panuku, is working through a new masterplan to redevelop the town centre and improve amenity.
The plans include remodelling Lake Road into a neighbourhood boulevard and creating a network of public open space.
In May, it was announced that 300 state houses in Northcote are to be replaced with 1,200 new residences in a $750 million intensification of the area.
Seymour says this local and central government-funded activity is sure to increase demand for commercial development at Akoranga Business Park.
“This is an outstanding opportunity for developers to secure a tightly held development site, with multiple potential options, for the first time in more than two decades.”
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