A sizeable Takapuna development site is poised for new owners to create a signature multi-unit residential project in a North Shore suburban growth hotspot.
The four contiguous titles for sale on Killarney Street and Manurere Avenue together offer a predominantly flat freehold landholding of nearly 3,500 square metres.
Bayleys Commercial North Shore salesperson Michael Nees said dual street frontages and multiple vehicle access points from both thoroughfares, along with zoning for residential intensification, made the land an outstanding offering for developers.
“This landholding presents an excellent opportunity to create a medium-density residential complex on the doorstep of central Takapuna.
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"A prominent, elevated position on a north-facing ridge line lends itself to a standout development with views over Lake Pupuke from upper floors.
“The land is within walking distance of Takapuna’s lively town centre and beach and handy to quality childcare, primary and secondary school options – in an area coveted for its quality of life.
“The four separate titles, each with rental income from tenanted existing houses, offer valuable holding income and options for new owners,” Nees said.
The four titles at 25, 27 and 29 Killarney Street and 15 Manurere Avenue, Takapuna, Auckland, are being marketed for sale through Nees and colleagues Sarah Liu and Joanna Xu of Bayleys Remuera.
The property will be sold by way of a tender closing on Thursday 21 November, unless it is sold prior.
Liu said the approximately 3,495-square-metre combined landholding represented one of the largest development parcels currently available in the Takapuna area.
“The land is zoned for residential intensification in an area that is increasingly in demand among developers and residents.
“The three titles on Killarney Street are zoned Residential – Mixed Housing Urban under the Auckland Unitary Plan. This enables construction up to three storeys in various sizes and forms including detached dwellings, terrace housing and low-rise apartments.
“The Manurere Avenue title forms part of the Residential – Mixed Housing Suburban zone. This, the most widespread of the city’s residential zones, generally provides for two-storey detached and attached housing,” said Liu.
Xu said demand for homes at this location was driven by its proximity to Takapuna’s town centre, identified by city planners as one of Auckland’s key metropolitan growth hubs.
“Just 10 minutes drive from central Auckland, Takapuna is considered the North Shore’s premier commercial centre. It offers a wealth of shopping and hospitality offerings as well as recreational facilities, employment and commercial services in an appealing beachfront setting.
“The future vision for this suburb is based around increased density with associated high-quality urban design, civic amenities and good access to community facilities, parks and public transport.
“The area has a reputation for a superior standard of living. The urban catchment is home to an affluent, well-educated population and skilled workforce. Home values in the area are well above the majority of those recorded in the North Shore and Greater Auckland, reflecting the strong and growing demand to live here,” Xu said.
- Supplied by Bayleys
