The expansion of St Kent's Shore Road campus opens the opportunity to acquire the school's Remuera Road site
The Saint Kentigern Trust Board is selling the Remuera Road property currently occupied by the Saint Kentigern Girls’ School and Preschool, presenting an exceptional opportunity to acquire a substantial, elevated site in one of New Zealand’s premier suburbs.
A new purpose-built girls’ school and preschool will open on the Saint Kentigern Shore Road campus in 2022 and 2023 respectively.
The trust board has exclusively appointed Colliers International to market the 12,496sq m freehold site by international expressions of interest.
Blair Peterken, Capital Markets Director at Colliers, says it is the chance of a lifetime to acquire an extremely well-known property in one of New Zealand’s most desirable locations.
“The sale offers astute developers or owner-occupiers an unprecedented opportunity to purchase this large, high-profile landholding in the heart of Remuera.
“This is a significant opportunity for a new owner to repurpose or completely redevelop the site, which is superbly positioned on Remuera’s sought-after northern slopes.
“With two street frontages and a large footprint spanning five freehold titles, the redevelopment opportunities are broad and exciting.”
Josh Coburn, Colliers International’s Site Sales Director, says the property’s shape and location allow for a multitude of redevelopment options.
“The property comprises a large, north-facing block that extends north from the eastern corner of Ranui Road and Remuera Road.
“It is in a highly visible location due to its corner profile and extensive street frontage to both roads, the latter of which is Remuera’s main arterial.
“The site offers stunning views thanks to its elevated position and gentle contour, which falls moderately to the north.
“Being located on a ridgeline position, the available views would increase with successive floors.
“From the second floor, the northern views over the city skyline would become more expansive, taking in Hobson Bay, the inner Waitemata Harbour, and Devonport and North Head in the distance.
“From the fourth floor and above, the property would also offer views to the south, taking in the Ellerslie Racecourse and the leafy suburbs beyond.”
The property is zoned Special Purpose School, which would require a plan change for other uses.
Peter Herdson, National Director of Capital Markets at Colliers, says parties could consider residential, retirement, private hospital or educational uses.
“We’re encouraging parties to pursue a vision for the site befitting its unique size and contour, its affluent neighbourhood, and its underlying land value, while also being aware that an opportunity like this may never become available again.”
Any rezoning of the site would need to take account of the local environment, which is typified by terrace and apartment buildings, single dwellings, and special character housing.
Herdson says a new owner could potentially incorporate the current buildings into their plans for the site.
“While a residential redevelopment would require a comprehensive master plan, there’s scope for a retirement, private hospital or educational redevelopment to make use of the extensive improvements already in place.”
The site is reasonably intensive in coverage, with many and varying buildings dispersed about the property including a series of classrooms along the Ranui Road frontage, science and technology blocks, a preschool, a two-level villa and an assembly hall.
The buildings range in age from the original homestead in the centre of the site, built some 90 years ago, to the art block, constructed in 2001. None of the buildings are heritage listed.
Recreational facilities at the north of the site include a large swimming pool with changing sheds, a tennis court and open spaces.
Gareth Fraser, Auckland Director of Investment Sales at Colliers, says Remuera is considered one of New Zealand’s most prestigious areas, and in 2018 had a median house price of $1.7 million.
“The suburb is in the coveted Double Grammar Zone, and as well as being close to Saint Kentigern Boys’ School, the new Saint Kentigern Girls’ School and Preschool, it is also near other independent schools including Baradene, St Cuthbert’s, Diocesan, King’s School and Dilworth.
“It has multiple cafes, restaurants and boutique retailers, and is serviced by supermarkets in Remuera, Greenlane and Meadowbank.
“Remuera is conveniently located near Newmarket – Auckland’s retail hotspot, and home to what will be the largest Westfield shopping centre in the Southern Hemisphere, which is being redeveloped at a cost of almost $1 billion.”
Fraser says the suburb enjoys good transport links, with easy access to Auckland’s motorway network both north and south along State Highway 1 at the Greenlane motorway junction.
It is serviced by multiple bus routes along Remuera Road and train stations at Greenlane, Remuera and Orakei.
Viewing times will be outside school hours with no billboards erected on the school’s boundaries.
The girls’ school students will remain at the Remuera site until they move to their new school in 2022. The preschoolers will remain on the Remuera Road site until the end of 2022.
Based on these timeframes, the Saint Kentigern Trust Board requires occupation of the entire site until mid-2022, and further partial occupancy of the preschool at the site until early 2023.
The board will carefully consider all expressions of interest, with offers due by 4pm NZT on Wednesday 27 March.
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