One of the few remaining development sites of scale in the northern Auckland suburb of Millwater is being offered to the market for sale and is sure to catch the eye of developers.
Located at 153 Bonair Crescent, the landholding spans 4787sqm and the site sits across from Croix Reserve, providing a stunning outlook from the property.
A recently expired resource consent was in place that would have allowed for three two-level apartment buildings to be constructed at the property, signalling the potential on offer.
The flat, rectangular site has three road frontages with some roading completed within the property.
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Millwater is located 35km north of Auckland’s CBD and is strategically positioned alongside the Northern Motorway. The suburb has multiple transport options available with the Silverdale Park and Ride only 3.5km away.
Neighbouring suburbs Silverdale and Highgate have rapidly expanding retail, commercial, and industrial precincts, while housing developments in the surrounding area have continued at pace.
On its completion, Millwater will be made up of 3000 dwellings and an estimated population of well over 10,000 residents.
Colliers Directors James Appleby and Josh Coburn have been exclusively appointed to market the site for sale by way of deadline private treaty closing at 4pm on June 6, unless sold prior.
Appleby, director at Colliers and a site sales specialist, says the location will be appealing for future residents as the growth of Auckland continues.
“The subject site sits in the Millwater South precinct, which is located north-west of the original Silverdale town centre and applies to approximately 51ha of land bounded by Wainui Road to the south and west, Manuel Road to the east, and Grut Greens to the north. It is part of the wider Millwater residential area,” Appleby says.
“The location is characterised by a steep north-east facing horseshoe shaped valley with views of Orewa and the coast from the higher areas.
“The area provides a lifestyle few developments can rival, from its neighbouring coastal areas of Orewa, Red Beach, and the Whangaparāoa Peninsula, to its modern amenities, and world-class recreational and medical facilities.”
Consistent migration numbers and rising rents are adding to the demand for greater numbers of dwellings to be built in Auckland. Data from Stats NZ notes Auckland’s population grew by 47,000 people in the year to June 2023, representing an increase of 2.8 percent. There has also been record-setting migration to New Zealand with a net migration figure of 130,900 in the year to February 2024.
The median rent figure in Auckland in January was $680 per week, the highest mark for a region in the country and up 3 per cent from December 2023.
Coburn, director of capital markets and site sales at Colliers, says these factors contribute to the need for more housing in Auckland.
“This rapid population growth has added to the pressure placed on rental prices and providing more supply into the housing market will assist in tackling these ongoing challenges for Auckland,” Coburn says.
“This site is perfectly positioned for development, and we encourage all interested parties to reach out to us and explore their options so they can create a development of significance that will provide appealing housing opportunities for future residents in the area.”
- Supplied by Colliers
