A significant opportunity has arisen in Mount Albert, with a large corner site presenting a unique blend of immediate income potential and extensive development possibilities, making it an attractive prospect for investors and developers, Bayleys salespeople say.
The 2,436sqm (more or less) freehold site at 201 Carrington Road is strategically located in a highly sought-after area, benefitting from zoning under Residential – Terrace Housing and Apartment Buildings (THAB).
Bayleys Auckland Metropolitan Markets associate director Damien Bullick says this designation supports intensive residential development up to 16 metres in height.
This aligns with Auckland’s Unitary Plan, which promotes the densification of housing to address the city’s growing population and demand for housing.
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“Situated near the Mount Albert Train Station and Mount Albert Village, the property enjoys high visibility and excellent transport links.
“It is a suburb undergoing significant development, including the Government’s plans to build 4,000 new homes on nearby land acquired from Unitec’s Mount Albert Campus approximately 500 metres from the subject property.
"This investment speaks to confidence in the broader region as the new home for a burgeoning population well-serviced by existing and planned infrastructure projects.”
Bullick is marketing the property for sale by tender with Bayleys colleague Alan Haydock, closing at 4:00 pm on Tuesday 27th August (unless sold prior).
The property sustains a 26-unit motel with a manager’s flat and an additional café building that generates an annual return of $56,000 plus GST.
Existing improvements include full kitchen facilities in each unit, laundry services, and a communal swimming pool – making it a functional and versatile business.
In its current format, there are 10 studio rooms, six large studio rooms, eight one-bedroom suites and two two-bedroom suites, and the three-bedroom manager’s flat.
Haydock says a new owner may wish to run the existing motel, refurbish or repurpose the premises to their requirements, or take full advantage of the prime underlying land holding and elevated north-facing corner site for a full-scale development.
“The prime location, coupled with intensive zoning, makes the subject property ideal for developers looking to capitalise on the high demand for residential space across Auckland’s city-adjacent suburbs.
“Current plans for the site include a proposed 133-unit residential development, showcasing the property’s substantial redevelopment potential. This forward-thinking vision aligns with the area’s trajectory of intensification and infrastructure enhancement.”
“Proximity to major arterial routes, including New North Road and the Northwestern Motorway, enhances the property’s appeal as a connected and accessible location.
"Additionally, the nearby Pak’ n’ Save supermarket and other local amenities underscore the site’s convenience and attractiveness for future residential development.
“This property offers a unique chance to invest in a high growth area with a combination of immediate operational income and significant future potential,” Haydock says.
- Supplied by Bayleys
