A large development site for sale opposite a train station in one of Auckland’s fastest-growing suburbs is expected to attract keen interest from residential developers.
The more than 7200sq m of freehold land for sale at 127-137 Shirley Road, in Papatoetoe town centre, sits in an area identified by city officials for rapid growth and intensification.
Positioned across the road from Papatoetoe train station, close to motorway connections and main arterial routes, the site has development-friendly Business – Town Centre zoning under the Auckland Unitary Plan.
Designed to facilitate intensification for a range of activities, this zone provides for construction to a height of 27m, including office and residential activities on upper floors.
Start your property search
Bayleys South Auckland salesperson Tony Chaudhary said this zoning, combined with proximity to key transport links, made the Shirley Road site a “developer’s dream”.
“Auckland Council’s development arm Eke Panuku has identified this location for intensification and housing expansion to meet demand driven by rapid population growth over the next decade.
“Being directly opposite the train station, and close to vital retail services and amenities, the site for sale would be of particular interest for an apartment development, perhaps combined with retail at street level,” said Chaudhary.
Part of the Shirley Road site is currently leased to automotive bodywork and painting specialist Arrow Max Panel and Paint, generating net annual rental income of $135,000 plus outgoings and GST. The current lease runs through to November with three further nine-year rights of renewal.
The land and buildings at 127-137 Shirley Road, Papatoetoe, are now being marketed for sale by deadline private treaty closing on Thursday 16 September (unless sold prior), through Bayleys South Auckland.
Chaudhary and fellow salespeople Janak Darji and Jordan Brown said the site contained buildings of some 2440sq m on approximately 7240sq m of land across four freehold titles.
Any future development would benefit from the site’s more than 100m of frontage to Shirley Road and multiple access points from Shirley Road and Allen Avenue, said Darji.
“This area’s residential development potential has been demonstrated by projects such as the 42-unit Kenderdine Square apartment and terrace home complex a few hundred metres away on Kenderdine Road, which was fully sold ahead of completion,” he said.
Darji said the existing tenancy and structures on the Shirley Road site would enable a new owner to enjoy significant holding income while they investigate future development options. Alternatively, a buyer could opt to land bank and reap the value gains expected with the area’s rapid expansion.
Papatoetoe is one of Auckland’s older established suburban areas. Home to a mix of light industrial, commercial and retail activities, it has undergone significant rejuvenation in recent years.
“Nearby amenities and businesses include the recently renovated Hunters Plaza shopping centre, home to big brands such as K-Mart, Countdown, Unichem, Noel Leeming and CityFitness, along with a newly upgraded New World supermarket on St George Street, and a vibrant mix of multicultural food and retail offerings,” said Darji.
Brown said the site’s proximity to the Southern and Southwestern Motorways meant it was within a 25-minute drive of Auckland’s CBD and 10 minutes from Central Manukau, with easy access to Auckland Airport and the industrial areas of Wiri and East Tamaki.
“Other key South Auckland amenities are within easy reach, including Middlemore Hospital, the Auckland Golf Club and Puhinui Reserve.
“Papatoetoe station offers frequent train services to Britomart via both the Southern and Eastern lines, as well as to Manukau and Papakura, plus a number of bus services including the AirportLink,” she said.
-Article supplied by Bayleys
