A residential development opportunity with two frontages at the primary entrance to one of the Auckland region’s most popular regional parks is offered to the market with a declared auction reserve of $100,000.
Bayleys Auckland Metro Markets director Layne Harwood is marketing the 1.34ha (more or less) freehold property at 23 Glenvar Ridge Road, near the top of the Long Bay ridgeline, alongside colleague Michael Nees.
The property features in Bayleys’ latest Total Property portfolio and is offered for sale by auction ‘as-is, where-is’ at 11:00 am on Wednesday, 4th December 2024 (unless sold prior).
“Located at the gateway to the Long Bay lifestyle precinct with its modern mid-density housing and access to an expansive beachfront regional park and marine reserve, the subject property presents one of the last significant blocks on Glenvar Ridge Road, elevated above private bush and the established residential community.
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“Aspects including two road frontages and views to the Hauraki Gulf, Whangaparāoa Peninsula, and Tiritiri Matangi Island present an opportunity for skilled purchasers to create a landmark residential project or a super-sized lifestyle block for their own use.
“Although the property requires some land remediation due to damage from Cyclone Gabrielle in 2023, its declared auction reserve of $100,000 presents an enticing opportunity for those with the vision and expertise to unlock the site’s full potential.”
The property comprises an undeveloped site and bush gully held in one title. Dual residential single-house and Residential large-lot zoning enables potential subdivision options.
Harwood says while council regulations would likely limit development to the upper levels of the site, where there are potential build platforms, the property nonetheless presents a rare chance for prospective purchasers to make a strategic entry into one of the East Coast Bays’ highly regarded master-planned communities.
“Rewarded with a warm northerly aspect and a fantastic view shaft, the location underscores both lifestyle appeal and investment promise, well-suited to those with a strategic focus on flexible development outcomes and the ability to apply an appropriate engineering solution to land remediation.”
The property is offered to the market amid recovering housing demand and increasing residential development activity. This is buoyed by a central government focus on intensifying housing in existing urban areas well-serviced by trunk infrastructure.
Bayleys North Shore associate director Michael Nees says that prominent local developer Templeton Group has played a pivotal role in transforming Long Bay into a premium mixed-use suburb over the last five years.
“With a focus on high-quality residential and commercial development, demand in the area is driven by its desirable coastal location, modern amenities, and a community-first approach to design.
“Proximity to major amenities like the Albany Town Centre - one of the country’s largest and most comprehensive retail shopping precincts, Massey University, the North Shore Hospital, northern service hubs, and the State Highway network are all additional attractions.
As one of the area's more significant sites, the property offers a compelling value proposition. Nees highlights that extensive supporting information is readily available, including pre-cyclone geotechnical reports and detailed service network data.
“The ‘as-is, where-is’ nature of the sale allows knowledgeable buyers to assess the opportunity and plan a development scheme that aligns with market demand.
"Given the dual zoning and picturesque setting that includes spectacular native bush and elevated views, multiple pathways exist to create a distinctive residential offering in a sought-after suburb or to develop as a private lifestyle enclave.”
- Supplied by Bayleys
