A large residential development opportunity in northern Auckland has now doubled in size, with 29ha on the market.
The land being sold by tender at 55 and 53b Russell Rd in Wainui makes up two adjacent farms on the cusp of Orewa, Silverdale and Millwater.
The Hibiscus Coast is already seeing unprecedented demand from home-buyers, with Millwater and newer development Milldale among the fastest-growing suburbs in Auckland.
Neighbouring Wainui, with its rolling green hills, impressive views and sunny, northerly aspect will be just as sought-after if not more, says Harcourts agent Looie James, who is marketing the properties.
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The land is close to the rapidly expanding Silverdale retail centre, Highgate Business Park and Silverdale industrial centre, Orewa and Red beaches, the 18-hole Wainui Golf Club and motorway access.
Auckland Council zoning unlocks the future urban land for development between 2033-37 but timing could be brought forward, as it was for the large-scale Milldale and Ara Hills developments now under way.
That creates potential for investors to obtain approval to build more than 400 homes. “This is exactly where you want a new residential development and associated amenities to be built, especially with the close proximity to Auckland's Northern Transport corridor,” says Travers Smyth, who is marketing the property with James.
Ara Hills is southwest of the boundary, with 700 modern homes, a retail centre and cafe under construction. Nearby Milldale is to see shops, restaurants, schools and transport options.
This leaves prospective investors in the Wainui land free to create a boutique residential offering or covetable lifestyle blocks suitable for horses, cattle and semi-rural life, says James.
Such developments are popping up all over the Hibiscus Coast, as traffic and retail infrastructure in the region continue to improve. With Fulton Hogan recently purchasing a nearby 192ha farm, thousands of new homes are likely to be added to the changing face of the once-rural area.
Harcourts says the demand for a similar development at the Wainui landholding is high, with the potential for it to become part of a new suburb.
- Article supplied by NAI Harcourts
