Silverdale trio prime for redevelopment

Three mixed-use properties in Silverdale are for sale as a flexible redevelopment opportunity with multiple options for upside plus holding income.

Only 300m from Silverdale’s town centre, the offering at 8-12 Blue Gum Ave comprises three older residential properties on a 3622sq m combined site with Business Mixed Use zoning.

The site has potential for a 14-lot subdivision, while other development proposals  include a 30-unit live/work development, or a 53-unit storage facility.

 Colliers International has been  appointed to market the properties  for sale by deadline private treaty. Offers close at 1pm on Thursday,  September 19, unless sold earlier.

Broker Mike Ryan of Colliers’ North Shore team says it is a chance to acquire a versatile landholding in a sought-after area.

“Silverdale is in the midst of a huge transformation, with a range of new retail, commercial and residential developments either underway or recently completed,” Ryan said.

“The site for sale is  at the gateway to Silverdale, just off the Hibiscus Coast Highway, making it ideal for owner-occupiers, developers or land bankers looking to capitalise on the area’s growth.

“It is generously zoned to allow for buildings of up to 18m in height, with permitted uses including residential, commercial, retail and light industrial.

“The site is particularly well suited to residential redevelopment, given its picturesque setting next to a council reserve, with abundant greenery and views over the upper Weiti River.

“Its location and flexible zoning also make it suitable for options including a childcare facility or boutique retirement living development.

“A new owner could develop the site almost immediately using the consented development plans, which are backed up by geotechnical, land management and engineering infrastructure reports.

“Alternatively, there’s an opportunity to develop an entirely new vision for the site. Savvy investors, developers and occupiers are sure to appreciate the possibilities the site presents.”

Broker Ryan de Zwart of Colliers’ North Shore team says the site comprises three neighbouring rectangular shaped lots on freehold fee simple titles.

“Each lot has a standalone dwelling serviced by its own driveway. The houses are individually tenanted, returning a combined $1600 in weekly rental income.

“The overall landholding slopes gently from the road front towards the council reserve to the rear. It is bordered by residential properties to the north and south.

“The site is fully serviced with existing infrastructure including a wastewater line that runs in a north-westerly direction across the site.”

The northernmost and largest lot, 8 Blue Gum Ave, comprises a 1950s-era dwelling on a 1290sq m site. The residential tenancy returns $400 in weekly rent.

The central lot, 10 Blue Gum Ave, comprises a 1960s-era dwelling on a 1206sq m site. It returns $650 a week in rent.

The southernmost lot, 12 Blue Gum Ave, also comprises a 1960s-era dwelling on a 1126sq m site. It returns $550 in weekly rent.

The area is serviced by excellent transport links. “Considerable government expenditure on roading and infrastructure has effectively brought the Hibiscus Coast to within a 30-minute drive of the Auckland CBD,” says de Zwart.

“The site is within walking distance of public transport, with regular bus services between the Hibiscus Coast bus station, which connects to CBD bus services, and the residential hubs of Whangaparaoa and Orewa.

 

“New and established retailers in the area include Pak’n Save, Bunnings, The Warehouse, Countdown, Noel Leeming, Supercheap Auto and ANZ.

“The nearby Silverdale Mall, anchored by a Farmers department store, opened last year, cementing Silverdale as the commercial hub of the Hibiscus Coast. 

“The Millwater housing development, north of Silverdale, is well underway. It is planned to comprise some 3000 sections housing more than 10,000 residents.

“Associated local developments include schools, medical centres and recreational facilities. These will help to service the estimated 140,000 people expected to move into the former Rodney area by 2031 — a growth rate faster than the adjacent North Shore and the overall Auckland region.”