One of the largest residential and commercial landholdings in the Auckland region has come to the market, offering investors and developers the opportunity to secure a super-sized site for their next major project.
Stubbs Farm on Falls Road in Warkworth is a 39.4ha parcel of land that is zoned for a mixture of uses, including a substantial residential capacity under Private Plan Change 25 (PPC25).
This site is a key growth node for the extension of Auckland and with significant upgrades to State Highway 1 taking place it shapes as a premier development site that enjoys outstanding connectivity to the surrounding areas.
Colliers has been exclusively appointed by receivers Andrew McKay and Rees Logan from BDO Auckland to market the property for sale.
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Colliers directors Jimmy O’Brien, Josh Coburn, and Blair Peterken are taking expressions of interest, which are to be logged by 4pm on Thursday 11 November, unless sold prior.
O’Brien, director at Colliers Auckland North, says Warkworth is one of the major growth hubs in the Auckland region and it is incredibly rare to see sites of this size and scale come to the market.
“Warkworth, which is only 44km north of Albany, is easily accessible via State Highway 1 and serves as a gateway to the many villages and beaches along the Matakana and Kowhai Coasts,” O’Brien says.
“Horticulture, wine making, dairying, tourism and forestry are now key contributors to the local economy with the increasing popularity of lifestyle blocks, retirement housing and holiday homes.
“Auckland Council forecasts significant residential and employment growth in Warkworth across the next 30 years with around 1,100 hectares earmarked as future residential and business land. The area is attracting first-home occupier housing and retirement village operators and is seen as the gateway to the ever-expanding Northland region. Supermarket giant Foodstuffs are looking at construction on a site nearby for a large supermarket, alongside complementary retail offerings.
“To support this growth, Auckland Council has identified the development of quality transport links within Warkworth, as well as between Warkworth, Northland and the rest of Auckland that will be critical to supporting the town’s future growth.
“A new motorway being built between Puhoi and Warkworth will also allow faster access to Auckland and should be completed in mid-May 2022, while improved public transport links will also be hugely beneficial to the area.”
Coburn, director of site sales at Colliers, says the recent Private Plan Change for this property will provide the new owner with a high level of flexibility.
“PPC25 was first lodged in 2018 and approved the following year to enliven the Future Urban zoning of the subject land and adjacent properties,” Coburn says.
“The changes mean this landholding at Stubbs Farm now includes land that is zoned Residential – Mixed Housing (Urban and Suburban), Business – Town Centre, Business – Mixed Use, Business – Light Industry Zone, and Open Space – Informal Recreation.
“This site will provide an estimated 660 houses, while more than 12,000sq m will be used for commercial development to complement the housing development. The residential developments will include single houses, townhouses, and apartments, with further scope to build retirement operations.”
Peterken, director of capital markets at Colliers, says a lot of groundwork has already been done for the site, which is located next to a major retail development.
“Substantial due diligence has been undertaken for this property that will be made available for any interested parties. Prospective purchasers will be able to make informed decisions about the future possibilities of this site,” Peterken says.
“This represents one of the premier landholdings to reach the market this year and we encourage all interested parties to make contact with us immediately so they can explore what this development site has to offer.”
- Article supplied by Colliers
