A once-in-a-generation opportunity to redevelop a large commercial block in the heart of Pukekohe Town Centre, working with Eke Panuku to create a legacy project that will shape the future of the town, is on offer with the sale of the Edinburgh Superblock.
CBRE is inviting expressions of interest from parties wishing to submit development proposals to activate the approximately 8,700sq m site, which is linked to the King Street main retail strip via the town square.
Development of the superblock is the flagship anchor project in Eke Panuku’s Unlock Pukekohe programme.
The site, which is spread over several titles and encompasses nearly the entire block bounded by Edinburgh Street, Devon Lane, Roulston Street and Massey Ave, occupies a prime location adjacent to key amenities including King Street, Pukekohe Plaza, the public library, town square and weekly farmers’ market.
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Natasha Sarkar, Director of CBRE’s Structured Transactions & Advisory team, says this is an ‘extraordinary’ opportunity for a developer to partner with Eke Panuku to realise a shared vision for the site, which will unlock the ‘incredible’ potential of Pukekohe as a rapidly-growing urban centre.
“Eke Panuku has identified this under-utilised commercial block as a vital site that has the power to enhance the local economy and invigorate the town centre.
"Eke Panuku will be selecting a development partner to deliver a game-changing mixed-use precinct that will attract visitors, new residents, businesses and employment opportunities.”
The site provides an ideal blank canvas for a transformational mixed-use development, with Town Centre zoning permitting a wide range of both residential and commercial uses.
“Given its size and favourable zoning, there is potential for around 15,000 square metres of new retail, hospitality or office space to be created. Alternatively, the site could accommodate nearly 175 dwellings. A complementary mix of these uses is envisaged, given the excellent flexibility of the current zoning.”
A further bonus for developers is the interim holding income provided while the successful bidder works with Eke Panuku on their redevelopment plans. Current annual income from existing commercial tenants amounts to around $350,000.
The potential to activate multiple street frontages to create inviting connections through the site and with adjacent amenities is particularly exciting and opportune, given the sizable landholding, Sarkar says.
“The site fronts the Pukekohe Library and town hall to the south; the Pukekohe Plaza retail centre to the west, King Street via the town square to the north and the weekly farmers’ market on Roulston Street to the east. This provides a tremendous opportunity to develop a welcoming precinct that invites pedestrians to walk through, providing exposure for the new businesses in the superblock as well as thoughtful links with existing amenities to unlock the whole town centre precinct.”
As well as new shops, office space, cafes and restaurants; the redevelopment could incorporate a range of accommodation options, such as short-stay or a build-to-rent residential component, increasing the options available to the two thirds of Pukekohe residents who are renters.
Allan Young, General Manager of Development at Eke Panuku, says the Unlock Pukekohe Masterplan outlines Auckland Council’s long term vision to prepare the town to accommodate 50,000 more residents over the next 20 years.
“The population growth forecast for Pukekohe provides a highly compelling driver for the success of any future development on the Edinburgh Superblock. Its size and location allows a developer to consider a larger footprint, offering a more cohesive outcome across the site and providing more local jobs and opportunities for businesses.”
It is envisaged that Pukekohe will act as a central hub for southern Auckland and northern Waikato communities, as well as continuing to be a thriving town with its own strong economy and character, providing ample opportunities for residents to live, work and play.
Developed in conjunction with the Franklin Local Board following extensive community, business and stakeholder consultation, the masterplan responds to growth taking hold in the southern Auckland region and the Waikato by boosting Pukekohe’s attractiveness as an employment destination and regional centre, Young says.
“Pukekohe is the third most populous urban centre in the Auckland region, behind metropolitan Auckland and the Hibiscus Coast. We’re responding to the strong population growth forecast with a range of projects in Pukekohe, from streetscape improvements and placemaking to large-scale redevelopments like the Edinburgh Superblock.”
The site is walking distance from Pukekohe Train Station and bus stops, with good connections to State Highway One via arterial roads.
Pukekohe is within the Auckland-Hamilton-Tauranga ‘golden triangle’, where 50 per cent of the country’s population lives and 53 per cent of national GDP is generated.
Commuter links to and from the town are set to be improved, with a new train station and electric rail linking Pukekohe to the Auckland city centre this year.
- Supplied by CBRE
