A strategically located property with favourable zoning in Mangere East provides buyers with a wide range of enticing development options in an area that is experiencing rapid growth.
389 Massey Road, Mangere East is currently home to two stand-alone houses on a 1,534sq m freehold site that is zoned Business – Local Centre Zone under the Auckland Unitary Plan.
The properties have existing occupants and when fully tenanted will return approximately $162,564 in net annual rental income, including GST. This will provide the new owner with a steady stream of holding income considering the current interest rate environment, while they plan their next moves for the site.
There are bus stops within comfortable walking distance and the State Highway 20 on-ramp is only 5km away providing links to the wider Auckland region. The Auckland Airport is 6.7km away and the subject site is also well served by a nearby supermarket and retail precinct. Middlemore Hospital can be reached in less than 10 minutes.
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Mangere is the focal point of many notable developments in South Auckland, including the recent construction of the Nga Hau Mangere Birthing Centre, which provides a vital service in the community.
Prominent real estate firm Goodman have also acquired 34ha of industrial land in the surrounding area and are in the planning phases for the construction of warehouse and logistics facilities that will add to the infrastructure of Mangere.
Colliers Directors Gareth Fraser and Matthew Barnes have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Thursday 15 December, unless sold prior.
As well as ongoing commercial growth in Mangere, there have been a number of substantial residential developments through private and government initiatives.
The Kainga Ora development across Bader Drive, McKenzie Road, and Cessna Place included 65 new homes and there is also the 14ha masterplanned mixed-use Market Cove development offering a selection of 1,400 terraced houses and apartments.
The wider South Auckland area is set to enjoy greater connectivity to other parts of the city with ongoing projects such as the upgrade to Puhinui Station and the Southwest Gateway Programme, which includes rapid transit between the airport and Botany.
Fraser, Auckland Director of Investment Sales at Colliers, says the property sits in an area that offers a range of services, including shops and schools.
“With a host of amenities nearby, this high-profile site presents a desirable location for developers to undertake a major project,” Fraser says.
“M?ngere East also offers easy access to the industrial hubs of Wiri, Onehunga, Penrose, and Mount Wellington, while being only 6.7km from the centre of Manukau, which is the key commercial area of South Auckland.”
Barnes, Director of Investment Sales at Colliers, says the zoning of the property gives prospective purchasers a host of options for the future.
“The Business – Local Centre Zone applies to a large number of small centres throughout Auckland. The centres are generally located in areas of good public transport. The zone primarily provides for the local convenience needs of surrounding residential areas, including local retail, commercial services, offices, food and beverage, and appropriately scaled supermarkets,” Barnes says.
“Large-scale commercial activity requires assessment to ensure that a mix of activities within the local centre is enabled. The expansion of local centres will be appropriate if it provides greater social and economic wellbeing benefits for the community. Provisions typically enable buildings up to four storeys high, enabling residential use at upper floors.
“Buyers will recognise the potential on offer from this site, which is perfectly positioned to be a key part of the future of this high-growth area."
- Article supplied by Colliers
