A highly visible landholding on a busy corner in the Auckland suburb of Flat Bush with multiple street frontages and a resource consent in place for a major development is being offered to the market for sale.
Located at 285 Murphys Road, the regular-shaped freehold site spans 13,732sq m.
The existing resource consent was granted for 109 units spread across 16 blocks, including 21 live and work units and commercial floorspace, giving it the potential to become a prominent mixed-use development.
The proposed development from the resource consent includes approximately 10,687sq m of floor area and accommodates one, two, and three-bedroom dwellings, alongside the live and work units and commercial space.
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With approximately 275m of total road frontage, this high-profile location is a considerable drawcard for prospective developers who can capitalise on the visibility and exposure the property offers.
The site has a combination of zonings, including Business – Neighbourhood Centre Zone and the sought-after Residential – Terrace Housing and Apartment Buildings Zone, which encourages high-density developments.
Flat Bush, also known as Ormiston, is a rapidly growing area in South-East Auckland and its broader population topped 45,000 people last year, according to data from Stats NZ, marking a big boost from the 26,000 recorded in 2018.
Ormiston Town Centre, a major shopping centre development with a vast array of amenities, is only 2km from the subject site, while there are schools close by.
State Highway 1 is only 5.5km away offering connectivity to other parts of the city, while Auckland Airport is 15km away.
Colliers Directors Blair Peterken, Josh Coburn, and James Appleby have been exclusively appointed to market the site for sale via deadline private treaty closing at 4pm on Wednesday 7 August, unless sold prior.
Peterken, Director of Capital Markets at Colliers, says the size of the site offers buyers the opportunity to create a large-scale development.
“The prominent position and high-profile nature of this site means it will hold considerable appeal,” Peterken says.
“With multiple street frontages and access to neighbouring amenities it is well positioned to make the most of the continued growth in the surrounding area.”
Strong immigration figures to New Zealand since the borders reopened following the worst of the Covid-19 pandemic have contributed to an ongoing need for more housing developments in Auckland.
Following years of under-supply, the creation of the Auckland Unitary Plan has led to an increase in dwellings but more may be required given Auckland’s appeal to new migrants due to established communities in the city and job opportunities.
Data from Stats NZ notes that provisionally there was a net migration gain in New Zealand of 82,800 in the year to May.
Josh Coburn, Director of Capital Markets and Site Sales at Colliers, says while there is the existing resource consent in place, a developer may hold their own vision for the site.
“There is a blueprint of how to optimise the usage of this landholding and many of the pieces are in place to purchase this site and continue with the current plans,” Coburn says.
“Alternatively, another set of eyes may create a different path for the future.”
Appleby, Director at Colliers West Auckland and a site sales specialist, says savvy purchasers can make a strategic acquisition with this property.
“The opportunity to create a development of scale in this rapidly growing location is one not to be missed and developers will have the chance to acquire this piece of land and begin construction ahead of the future upswing in the market.”
- Supplied by Colliers
