One of the largest residential development sites in New Zealand is being presented to the market for sale and offers developers the opportunity to acquire a significant piece of Mangawhai.
Sitting approximately 80 minutes north of Auckland, Mangawhai Central is a 116ha site comprised of multiple lots for development in various stages.
Located at 83 Molesworth Drive and Old Waipu Road, the site is being sold in one line and benefits from a substantial amount of earthworks and infrastructure having been completed meaning development can begin almost immediately.
With the capacity to accommodate approximately 1,200 homes, the site sits outside of the Auckland Council Development Contribution Policy – a key factor that will be hugely appealing for prospective buyers.
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There are industrial and retail precincts surrounding the development site and a local Bunnings and New World are both fully operational alongside other established businesses.
With popular beaches and some of the world’s most in-demand golf courses such as Tara Iti Golf Club and Te Arai Links nearby, this location offers future occupants an unrivalled lifestyle opportunity.
The full site has its own specific zoning from the Kaipara District Council, known as the Estuary Estates Structural Plan, which relates exclusively to Mangawhai Central. A Private Plan Change (PPC78) was successfully adopted in March 2022, which created sub-zones affecting the masterplan and density of the site.
Colliers Directors Josh Coburn and Blair Peterken have been exclusively appointed to market the site for sale and are taking expressions of interest with the deadline for offers closing at 4pm on Thursday 16 November, unless sold prior.
Various lifestyle factors are contributing to a projected housing shortage in Mangawhai as more people move to the area as they take advantage of remote working opportunities, enhanced connectivity to Auckland through the recently opened Ara Tūhono - Pūhoi to Warkworth motorway, and surrounding attractions.
Future projections indicate there could be demand for approximately 275 to 350 extra dwellings per annum and based on Mangawhai’s current housing stock that would lead to a shortfall in less than 10 years.
The demand for the area is evidenced through the strong uptake of sections within one sub-zone of the subject site that have been pre-sold.
Furthermore, virtually all of the surrounding industrial sites have been sold and land has also been acquired for an early childhood education centre.
Coburn, Director of Capital Markets and Site Sales at Colliers, says Mangawhai is an area that has rapidly grown in popularity in recent years.
“Historically, most buyers in Mangawhai were Aucklanders in search of a holiday home. However, over the past five to 10 years there has been a noticeable shift in buyers looking for permanent homes,” Coburn says.
“Between 2020-2021, the median house price rose from $650,000 to $1,100,000 continuing to $1,200,000 in 2022. The significant price increase is a result of an uptake in interest for Mangawhai from young families and retirees, which has likely resulted in a surge of demand outstripping supply.
“The area is a hive of activity with industrial and retail developments ongoing and the existing services in Mangawhai, such as the Bunnings and New World, are well supported by cafes and restaurants.”
Peterken, Director of Capital Markets at Colliers, says the chance to develop a picturesque location such as this one is an opportunity not to be missed.
“Mangawhai Central is one of the largest residential development sites available in New Zealand and it is incredibly rare to see opportunities of this scale come to the market,” Peterken says.
“The area is more accessible than ever before and is surrounded by world-renowned golf courses, beautiful beaches, and a range of services that contribute to making Mangawhai a highly desirable location that will suit a change in lifestyle for future occupants.”
- Article supplied by Colliers
