Panuku Development is seeking a partner for substantial mixed-use development
A prominent property within the heart of the leafy environs of sought-after Meadowbank is ready to be unlocked for mixed-use redevelopment.
Panuku Development Auckland is seeking a development partner to transform the 1,661sq m site of the Meadowbank Community Centre at 29-31 St Johns Road.
The successful party will replace the existing building with a comprehensive redevelopment including a new community centre on the ground floor and private development above.
Business Local Centre zoning allows for occupier building height of 16m plus 2m for roof form, with a wide range of permitted uses on the upper floors including residential or commercial.
Colliers’ National Director of Consulting, Alan McMahon, says it is an opportunity to take part in a new chapter of public-private partnerships with Auckland Council.
“This project will establish a template for the future delivery of new community facilities alongside private development.”
Panuku Portfolio Strategy and Business Development Manager Marian Webb says ratepayers will benefit from the cost-effective provision of a modern, purpose-built community facility, while developers will benefit from the opportunity to unlock underutilised council land.
“Panuku envisions a mixed-use, medium-density development on the site, which is exactly what Auckland needs to grow its economy and provide more housing for its people,” says Webb.
Chris Farhi, Colliers’ Strategic Consulting Director, says this project represents an exceptional opportunity for a developer with a proven track record to help transform this vision into a bricks and mortar reality.
“The high-profile corner site is ideally located to provide maximum exposure and breathtaking views.
“With its superb position at the heart of Meadowbank Village, the property offers easy access to public transport, local shops and the nearby supermarket.
“A new development on the site will benefit from stunning vistas towards the city, harbour and nearby golf course.
“The site itself is flat and of regular shape, presenting multiple opportunities for redevelopment.”
Farhi says Meadowbank is an established and increasingly affluent suburb that is set to grow further in the coming decades.
“With its central location between Remuera and St Johns, proximity to the CBD, beaches and public transport links, Meadowbank is becoming one of Auckland’s most sought-after suburbs.
“A number of developments in Meadowbank and the surrounding areas are currently underway or proposed, including several retirement villages, apartment buildings and retail offerings.
“As a result of this growth and development, the suburb’s population is projected to increase to 16,750 by 2043 – a gain of 36 per cent.”
Farhi says the immediate area is largely residential with two pockets of retail.
Meadowbank Shopping Centre is located on the corner of Gerard Way and St Johns Road, while The Junction is on the corner of Meadowbank Road and St Johns Road.
The Meadowbank Community Centre project is the realisation of a 2017 Ōrākei Local Board plan to revitalise the centre into a facility that will better meet the needs of the growing community.
The successful development partner will deliver the shell base building for a new ground-floor community centre of about 750 sqm.
Auckland Council will retain ownership of the community centre, while the developer will own the upper floors.
The new Meadowbank Community Centre will provide an active space, meeting rooms of various sizes and capacities, at least 16 on-site car parks, and bicycle parking.
Future activities will be similar to those already undertaken at the existing community centre.
Expressions of interest are to be submitted to Colliers International by 4pm on Wednesday 27 February, after which parties will be shortlisted.
Criteria to be considered will be the developer’s capabilities, capacity to deliver, track record in successfully delivering similar projects, indicative programme and corporate and financial structure.
Panuku may then choose to run a detailed request for proposals process to secure a development partner for the site.