Stellar in St Heliers

An exciting residential development opportunity has emerged in one of Auckland’s most desirable central suburbs — St Heliers.

The substantial landholding, spanning 7300sq m across three adjoining sites at 43A Waimarie St, 45 Waimarie St and 819 Riddell Rd, is being marketed by Barfoot & Thompson Commercial brokers John Stringer and Reese Barragar.

It is for sale by deadline private treaty, closing 2pm, Thursday August 29, unless sold prior.

“This is a rare find, right in the heart of one of the city’s most sought-after areas,” says Stringer.

“The combination of location, size, and existing resource consent makes this proposition a standout, and we are expecting heightened interest with this one.”

The resource consent, granted in August 2023, allows for 54 terrace townhouses over two to three levels, providing a ready-to-go development opportunity.

“There is no denying that people want to live in the Bays,” says Barragar.

“The fact that this parcel is all set to go, with plans in place and consent granted is a significant advantage, allowing developers to move quickly and capitalise on the strong demand for new housing in this area.”

Currently the property features three dwellings:

43A Waimarie St is an architecturally designed, four-storey plaster-clad home from the 1980s, boasting five bedrooms, two studies, a kitchen and generous open-plan living areas within a 598sq m floor area. Additionally, there’s a swimming pool and an all-weather tennis court on-site.

45 Waimarie St is a two-storey, weatherboard-clad dwelling upgraded in the early 2000s, with five bedrooms, two studies, a kitchen and spacious open-plan living areas covering a total floor area of 282sq m. This property also has a swimming pool with a pool house and an all-weather tennis court.

819 Riddell Rd dates back to the 1950s, and is a weatherboard-clad home with a brick base, accommodating three bedrooms within a 105sq m floor area, plus a detached garage in poor condition.

The current development plans include the demolition of the existing buildings and structures, with a new driveway access from the 819 Riddell Rd site and pedestrian access from Waimarie St.

The 54 townhouses include 18 two-bedroom and 36 three-bedroom dwellings designed by the Monk Mackenzie architectural firm, known for luxury apartments and townhouses.

“Monk Mackenzie has a stellar reputation for designing luxury-end apartments and townhouses, and this project is no exception. Their involvement ensures a high-quality development that will appeal to discerning investors,” Barragar says.

Stringer highlights the location’s appeal.

“Offering convenience and connectivity, and combining leisure with lifestyle, 43A, 45 Waimarie St and 819 Riddell Rd are perfectly positioned, ensuring easy access to a wide range of urban amenities, including top schools, parks and local shopping precincts,” he says.

“The nearby St Heliers Bay commercial precinct, which is just five minutes drive away, provides a fabulous range of goods and services, cafes and restaurants, making it a popular destination for both residents and visitors.

“Plus there’s proximity to the waterfront, which is a major drawcard.

“St Heliers Beach is a hot spot for all manner of activity — on the water and off — popular with swimmers, dog walkers, runners and anyone who loves the outdoors,” Stringer says.

For commuters, St Heliers is well connected to Auckland’s CBD, typically a 20-minute drive via Tamaki Drive.

Public transport options and major roadways also provide easy access to other parts of the city. This ease of access, combined with the suburb’s refined and relaxed lifestyle, makes St Heliers a highly desirable location for a broad range of potential buyers, Stringer and Barragar say.

Detailed reports including architectural plans, geotechnical investigations and an infrastructure report are available from the two brokers, as is the full Information Memorandum document.

“The timing is excellent,” Stringer says, “given the shortage in new housing stock and a projected increase in demand over the next 12 months, with interest rates forecast to reduce by the end of the year.”

— Supplied by Barfoot & Thompson