A site for sale in the heart of Auckland’s Point Chevalier is set to give rise to a substantial apartment and retail complex amid an expected intensification and revival of the suburb’s town centre.
Currently home to a bar and liquor outlet, the more than 3,000-square metre site at 1130 Great North Road comes with existing proposals to develop a 1,000-square metre local-style supermarket with up to 84 apartments above.
As part of the Business – Town Centre zone under Auckland’s Unitary Plan, the Great North Road site has been identified for high-density residential and mixed-use commercial development.
This zoning generally allows buildings of up to 18 metres, with permitted activities including residential and retail, as well as commercial entertainment facilities and public amenities.
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The freehold property at 1130 Great North Road, Point Chevalier, Auckland, is being marketed for sale by deadline private treaty closing on Friday 18 March (unless sold prior), through Paul Dixon and Layne Harwood of Bayleys Auckland Central.
Dixon said the offering consisted of approximately 3,112 square metres of land, with existing single-storey retail buildings of some 1,057 square metres at the Great North Road frontage.
The structures are occupied by The Harlequin bar and a Barrels & Bottles liquor store – generating a total net rental income of $264,108 plus outgoings and GST per annum.
“This will represent useful holding income to a developer during the planning and consent stages, with the possibility to realise lease expiry by late 2023 if required to commence works,” said Dixon.
“The value of this property to buyers is overwhelmingly in its considerable development potential. It is zoned for serious intensification in a well-regarded location for both commercial and residential uses.
“The possibilities are maximised by its high-density Town Centre zoning, its central location within Auckland plus its proximity to major roads and public transport routes,” said Dixon.
Auckland-based design specialists G2 Studio have drawn up three options for mixed-use developments with a substantial residential element to maximise the site’s potential.
Harwood said these designs envisioned complexes with gross floor areas ranging from about 7,480 square metres to nearly 9,500 square metres over four to six levels. These yield between 52 and 84 apartments, with the higher number subject to an additional consent process.
Reports on the options are available to buyers on request.
Harwood said the site for sale was well-positioned centrally within the village and nicely poised to reap the rewards of new intensification possibilities as well as the proposed Point Chevalier town upgrade.
“The site is bounded by Great North Road to the north, offering around 20 metres of prominent street frontage, and by the Northwestern Motorway to the south.
“There is site vehicle access from Great North Road plus a right of way to the rear whose use is shared with a neighbouring property. All services and connections are already available to the site directly.
“These attributes, along with the site’s elevation, present an opportunity to maximise street profile for future retail occupiers and for apartments to enjoy expansive views – towards Point Chevalier to the north, Western Springs to the east, and Mt Albert to the south.
“In addition to its central Auckland location, the site benefits greatly from its proximity to the Waterview motorway interchange, multiple public transport links, and the Point Chevalier to Westmere cycle/walkway project,” said Harwood.
The immediate area is rich in amenities including shops, restaurants and cafes, a Countdown supermarket and two service stations, along with beaches, sports grounds and parks such as Western Springs.
- Article supplied by Bayleys
