One of the few freehold development opportunities for sale on the verge of Auckland’s Wynyard Quarter is ripe for a new addition to the area’s commercial and residential transformation.
The more than 440-square-metre site for sale on key CBD arterial Fanshawe Street contains a vacant single-storey workshop which has served as a tyre shop and car valet facility.
New owners will have the chance to repurpose the existing 1960s building or capitalise on the potential for a major redevelopment in one of the most sought-after corners of the inner city.
The immediate area has undergone a flurry of development in recent years including the adjacent Fidelity Life building, Fonterra’s headquarters, Bayleys House, and other major Wynyard Quarter projects by the likes of Mansons TCLM and Precinct Properties.
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City Centre zoning under Auckland’s unitary plan provides for an array of commercial, residential and retail activities at the site for sale, and the greatest intensity of development in terms of height and floor area.
The freehold land and buildings at 120 Fanshawe Street, Auckland Central, are being marketed for sale by Tony Chaudhary and Paul Dixon of Bayleys Real Estate.
The property will be sold by deadline private treaty closing on Monday 30 September, unless it is sold earlier.
Chaudhary said the approximately 200-square-metre existing building, and 85-square-metre canopy, were underpinned by some 443 square metres of level freehold land.
The property sits on the busy stretch of Fanshawe Street between the junctions with Nelson and Halsey streets.
“This positions 120 Fanshawe Street as one of the few available freehold development sites close to Viaduct Harbour and the Wynyard Quarter.
“Its development appeal is heightened by more than 30 metres of north-facing frontage to a key arterial route that links the city centre with the Victoria Park precinct, Ponsonby and the North Shore.
“This, plus handy access to motorways, abundant public transport options and desirable city fringe suburbs, will maximise its desirability for both commercial and residential projects,” said Chaudhary.
Dixon said Fanshawe Street, the Victoria Quarter and the Viaduct had in recent times become some of the most sought-after precincts in the central city for commercial and residential development.
“Numerous projects by Goodman Property and Mansons TCLM have further added to the attractiveness of the area, and have brought high-calibre tenants such as Fonterra, Bayleys Real Estate, Spark and NZME to the precinct.
“Immediately to the north of the site for sale, the Viaduct precinct is undergoing a repositioning with top-end residential, international hotels and further commercial development enhancing the area. The sale of 120 Fanshawe Street will set the scene for a new chapter in this area’s evolving story,” Dixon said.
- Supplied by Bayleys
