A lifestyle property that includes executive living, equestrian arenas and significant income potential is for sale in the west Auckland suburb of Riverhead.
“After 23 years of ownership, the vendor is motivated to sell,” says Barfoot & Thompson Commercial agent Peter Jeromson, who is marketing the property at 63 Riverland Road for sale by deadline private treaty, closing on February 17.
The freehold site is located centrally between Kumeu and Riverhead and spans a total area of just over six hectares.
“The property has extensive frontage on to Riverland Road and shares a boundary with the Kumeu Golf Club to the north,” Jeromson says. “It’s predominantly in pasture with incorporated shelter belts, while a natural water course runs along the rear boundary which is dammed containing an attractive pond and wetlands area.”
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Improvements to the site include a four bedroom 460sqm executive residence that has been attractively landscaped and a second three-bedroom two-story tenanted dwelling of approximately 315sqm which is split between residential living and a beauty and hair salon and Chinese massage.
“There is a 355sqm utility building comprising three roller doors, an office area and garage/storage shed plus a boat shed of approximately 95sqm,” Jeromson says. “Equestrian improvements include a trotting track, two large arenas and 150sqm of stables including five individual pens, a tack room and washdown bay at the rear.
“The property is to be sold with a with a significant current rental income from a number of tenants.”
Another draw of the property is the ability to take advantage of the underlying value waiting for the next owner. “In 2013 the vendors obtained council consents for the extraction of artesian water and the establishment of a 1,305sqm water bottling facility for commercial sale,” says Jeromson. “This natural resource is of superior quality alkaline with high mineral content and is drinkable from the ground.”
The Mixed Rural zoning has the flexibility to accommodate a range of rural production activities and associated non-residential activities while still ensuring good amenity levels for residents who use their land for rural lifestyle purposes. “These areas often have a history of horticulture, viticulture, intensive farming and equine-related activities”, says Jeromson. “In turn, these activities support the establishment of produce sales or retail services such as cafés, restaurants, tourist and visitor-related facilities.
“Auckland continues to gain momentum with the Unitary Plan providing for desperately needed land for development. And as a result, Auckland's rural fringe is experiencing a strong rejuvenation so now is the time to land bank and take advantage of this properties potential while housing development forges ahead on all sides.”
