The upcoming sale of a brand new townhouse complex and a vacant site next door offers flexible options for investors and developers in a pivotal city fringe location.
Both sites are in the ‘double grammar’ schools zone. They are handy to the city centre and Newmarket’s fashionable retail precinct, along with Auckland Hospital and universities, motorways, and train stations on the future City Rail Link.
The 12 newly completed townhouses on Seccombes Road present buyers with an affordable entry point to the build-to-rent sector, one of the fastest-growing sectors in real estate globally.
The smart, three-level homes are contained in their own freehold titles, giving new owners the flexibility to sell them down individually.
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The properties sit in two rows of six, separated by a driveway. The western block contains six four-bedroom homes. This block can be purchased by itself or in conjunction with the eastern block, which contains four four-bedroom and two two-bedroom homes.
Beside them, at the high-profile corner of Seccombes and Mountain roads, the vendor is also selling over 720 square metres of vacant freehold land – an attractive possible addition for buyers seeking further scale and development potential. This could include adding more homes, or harnessing Mixed Use zoning to pursue a project catering to the area’s status as a medical and educational stronghold.
Lots 1-12, 36 Seccombes Road, and 24 Mountain Road, Epsom, Auckland, are being offered for sale through Phil Haydock and Tommy Zhang of Bayleys Auckland Central.
They will be sold individually or together (including the option to buy only Lots 1-6 at 36 Seccombes Road), by way of a tender closing on Thursday 11 July, unless sold prior.
Haydock said the 12 immaculately presented townhouses for sale each spanned approximately 130 to 160 square metres, including an internal garage, generous open-plan living area and designer kitchen.
The individual freehold lots they sit on range from 64 to 107 square metres plus a one-twelfth share of the driveway.
“The western block homes are underpinned by a combined land area of some 607 square metres, rising to a substantial 1,219 square metres for both blocks.
“Five of the six four-bedroom dwellings in the western block, which is adjacent to 24 Mountain Road, are leased. The eastern block townhouses are for sale with vacant possession. The eastern block is not for sale individually, and can only be purchased together with the western block,” Haydock said.
The leased four-bedroom homes in the western block earn rents of $1,200 to $1,500 per week. This block has an appraised notional total income of $405,600 per annum when fully leased. The combined notional return for both blocks is $748,800 per annum.
Zhang said the approximately 724-square-metre 24 Mountain Road was a high-profile site with three street frontages.
“This flat corner site has some 25 metres of frontage to busy Mountain Road and 22 metres fronting Seccombes Road, which runs parallel to Khyber Pass Road towards Newmarket’s giant Westfield shopping centre. State Highway 1 runs to the rear of the site ensuring it has good light and outlook on three sides,” he said.
Sought-after Business – Mixed Use zoning under Auckland’s unitary plan permits development up to 18 metres high for an array of potential uses.
“With its highly enviable position in zone for both neighbouring Auckland Grammar and Epsom Girls Grammar schools, and a few steps from St Peter’s College, the residential potential of this site is obvious.
“However, medical, education and commercial uses that would benefit from its proximity to Auckland Hospital, Mercy Ascot Hospital and the University of Auckland’s Newmarket campus should not be overlooked,” said Zhang.
Both addresses for sale are handy to motorways north, south and west via interchanges on Gillies Avenue, Khyber Pass Road and Newton Road.
“In combination, these impressive advantages make this a highly strategic location that has seen enduring demand and strong rental growth that will support long-term capital appreciation,” Zhang said.
- Supplied by Bayleys
