A rural property which has been in the same ownership for over 60 years is for sale on Auckland’s north-western metropolitan boundary offering multiple commercial revenue streams and consent to create a new housing and lifestyle block subdivision.
The 59.56ha block at Pollard Lane in Waimauku is currently operated as a cattle grazing block, with income from two telecommunication towers.
Featured in Bayleys latest Total Property magazine, the property known as Silver Pines Farm is being marketed for sale by Layne Harwood of Bayleys Real Estate through expressions of interest, with offers closing at 4pm on Thursday June 27.
Harwood says there are multiple development possibilities for the property, located about 35km north-west of Central Auckland.
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He says the property is situated immediately adjacent to Waimauku township and has a mixed zone of either Rural Production or Single House under the Auckland Council Plan.
“An existing resource consent for the property was issued in January 2015 allowing for the subdivision of seven new residential lifestyle block titles around 1ha in size, plus a larger residual lot. As part of the consent, about 31ha of protected native bush and wetlands will be covenanted for the proposed subdivision.”
Harwood says more intensive subdivision is permitted within an area of around 9.36ha in the Single House Zone with concept plans considering these development options:
· 33 residential lots of approximately 2500sq m each;
· 46 residential sections of about 1500sq m each; or
· subdivision into 65 residential sites of approximately 800 square metres each.
“So there is the opportunity of creating a lifestyle block enclave, right up to a standard suburban environment, with an additional area for more intensive residential use,” says Harwood.
“All development options will benefit from being close to a protected native bush and wetland areas, which would be in exclusive ownership. Excellent views are available from the elevated north-facing position.
“The two telecommunication towers are located on the property’s southern boundary atop the hills and above the development sites.”
One telecommunications provider has a lease running through to 2021 with two further six-year rights of renewal, generating $9000 per annum, while the other telecommunications provider has a lease running through until 2021 with two further six-year rights of renewal, generating $12,000 per annum. Both leases have three-yearly rental review clauses.
Harwood says that, in addition to the main site entrance from Pollard Lane, part of the farm is also accessible off Wintour Rd. He says the property could continue to be used as a run-off block for grazing cattle and be leased in the short term from any new owner.
