A high-profile landholding primed for development in the affluent Auckland suburb of Ellerslie will provide a wide range of buyers with a site of scale for their next major project.
80 Cawley Street, Ellerslie is a 3,303sq m freehold site that is zoned Business – Mixed Use Zone under the Auckland Unitary Plan.
The property, which offers huge profile to Ellerslie and the Southern Motorway, is nestled among a range of prominent office and commercial developments, including the Central Park Corporate Centre on the opposite side of the motorway, and provides excellent access to State Highway 1.
Future occupants will also enjoy favourable proximity to public transport with the Ellerslie train station less than 500m away and bus stops within easy walking distance.
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The Ellerslie village, which has an outstanding mixture of cafes, restaurants, bars, and gyms is only a five-minute walk away, while Auckland’s CBD and New Zealand’s largest shopping centre Sylvia Park are both reachable within 12 minutes via car. The property is also conveniently located near a range of local schools.
Colliers directors Jason Seymour and Blair Peterken have been exclusively appointed to market the site for sale by deadline private treaty closing at 4pm on Wednesday 6 July, unless sold prior.
Seymour, Director of Capital Markets at Colliers, says Auckland’s ongoing growth continues to create further demand for quality housing and office options.
“Auckland Council’s concentration on intensification rather than sprawl, articulated in the Unitary Plan and proposed law changes, demands a rigorous construction programme in the areas identified for growth,” Seymour says.
“Auckland’s housing shortfall is expected to intensify with an estimated 400,000 new homes required over the next 30 years.
“The population of Auckland is tipped to grow from 1.7 million to 2 million by as early as 2029 according to forecasting by Stats NZ, creating the need for further housing stock to be built and a site such as this one represents a prime opportunity for an intensive development.
“That ongoing population growth will also drive a greater need for office and light industrial space. Given corporate headquarters such as Mars, Restaurant Brands, Waka Kotahi NZ Transport Agency, Colgate, Bunnings, and Sealord are located nearby it shows this site is suitable for high-quality work environments.”
Peterken, Director of Capital Markets at Colliers, says it is rare to see such a large parcel of available land on offer in Ellerslie.
“Ellerslie is a desirable residential neighbourhood with highly favourable demographics and socio-economic characteristics, while also being a major hub of employment,” Peterken says.
“Within its primary catchment, the subject site has a current population of 14,055 and within its secondary catchment, a population of 62,079.
“The median household income in Ellerslie is significantly higher than the wider Auckland region. Census data indicates the median household income in the primary catchment is $110,372 compared to the Auckland average of $98,344.”
Peterken says there is significant growth potential that comes with a site of this scale.
“The Business – Mixed Use Zone will provide prospective purchasers with a wide array of options for the future, and they will be able to create a substantial development with generous height requirements that will cater to a range of needs,” he says.
“Sites of this nature in a popular suburb such as Ellerslie are rarely presented to the open market, and we’d encourage all interested parties to contact us promptly to ensure they can take advantage of this unique opportunity.”
- Article supplied by Colliers
