A family trust’s move to sell three prime sites in central Auckland suburbs opens a realm of possibilities for property developers, land bankers and add-value investors.
The portfolio of freehold properties spans a former Herne Bay motel with income from investment flats and potential to add value, a Meadowbank village centre site housing Auckland Council which is ripe for a multi-level mixed-use project, and an Onehunga residential section with a large house and intensive redevelopment options.
“Underpinning the value of each site is their position in high-profile, high-growth and tightly held Auckland locations,” said James Chan, head of Bayleys’ International Sales Division.
“The ability to buy all three gives new owners the chance to capitalise on diversified options and a good geographical spread of central suburbs,” Chan said.
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The properties at 213 Jervois Road, Herne Bay, 25 St Johns Road, Meadowbank, and 7 Trafalgar Street, Onehunga, are being offered for sale through Chan and Bayleys colleagues Owen Ding and Karen Yung.
They will be sold together or separately by way of an international tender closing on Friday 10 May, unless sold prior.
213 Jervois Road, Herne Bay
The approximately 996-square-metre Jervois Road landholding underpins some 546 square metres of buildings.
The former Seabreeze Motel encompasses 11 self-contained flats, including studios and one and two-bedroom units.
The property generates a gross income of some $246,257, including GST, per annum.
Ding said with dual access from Jervois Road and Masons Avenue, this generous, flat landholding offered attractive possibilities for expansion and adding value, or for land banking.
“Sitting within the Residential – Single House zone under Auckland’s unitary plan, 213 Jervois Road boasts numerous advantages sought after in a prime residential property.
“It sits in one of New Zealand’s most affluent suburbs, close to an array of appealing shops, as well as schools, childcare providers and parks. It’s just five minutes’ drive from Auckland’s CBD at most times of the day, with nearby onramps giving convenient access to major motorway networks,” Ding said.
25 St Johns Road, Meadowbank
The approximately 908-square-metre site at the corner of St Johns Road and Lavender Crescent, Meadowbank, is known as the home of Auckland Council’s Ōrākei Local Board.
It occupies the approximately 231-square-metre single-storey building on a current lease that runs through to May 2025, generating a net rental return of approximately $111,322 plus outgoings and GST per annum.
The elevated corner site has huge exposure to arterial St Johns Road in Meadowbank’s commercial village, with Meadowbank Shopping Centre, cafes and restaurants close at hand.
Chan said the existing premises offered a proven source of income for passive investors, while there were also attractive options to add value, rebuild or develop.
“Business – Local Centre zoning offers the chance to develop to multiple levels and capitalise on impressive views in all directions.
"This zone permits a range of commercial uses with residential accommodation at upper levels.
“The owners have prepared resource consent documents for a six-level, 40-unit apartment complex with two ground-level commercial units. A new owner could progress these or pursue their own project.
“Excellent public transport means a city commute is a breeze from here. The nearby shopping centre offers essentials such as a supermarket, hairdresser, pharmacy, and a small food court. The site is in zone for desirable schools and close to recreational amenities such as Waiatarua Reserve and Remuera Golf Course,” said Chan.
7 Trafalgar Street, Onehunga
With more than 1,421 square metres of freehold land, the elevated, flat corner property on Trafalgar Street is ripe for residential development or strategic land banking.
The site contains a five-bedroom, three-bathroom home of some 314 square metres, with three to four living areas.
The house has been approved for demolition, opening the way for developers to unlock the site’s full potential in an area seeing significant housing intensification.
Resource consent for a five-level, 34-unit apartment project has been applied for.
The property offers expansive views of Manukau Harbour through to Cornwall Park.
It sits within the Residential – Mixed Housing Urban zone.
Yung said this zone was designed to support residential intensification and increase the capacity and choice of housing within neighbourhoods.
The existing house is currently rented to a residential tenant, returning $1,550 per week before the new owners take action.
“The zoning typically enables development up to three storeys, including detached homes, terrace housing and apartments, boarding houses and visitor accommodation.
“Be it a buyer’s next family estate, landholding, add-value opportunity or the place to realise their residential development project, there’s an array of options to explore at the Trafalgar Street site.
"Buyers and residents will benefit from its prized position in Onehunga – handy to public transport, amenities and a wealth of shops and restaurants, as well as Cornwall Park, schools and motorway connections,” Yung said.
- Supplied by Bayleys
