High profile Auckland CBD development site

5:00 AM Saturday September 19, 2015 Colin Taylor

Elevated view of a vacant, freehold development site at 2-8 Anzac Avenue, Auckland CBD on the corner with Beach Rd – identified by a red border.

A vacant, freehold site suitable for a large, Mixed Use zoned development just one block back from Auckland city’s waterfront has been put on the market for sale.

The 938 sq m section at 2-8 Anzac Avenue, on the corner with Beach Road, is currently used as a car park and will be sold by tender through John Davies, Adam White and Jasmine Yao of Colliers International closing at 4pm on Thursday October 8 unless it sells earlier by negotiation.

Davies says this sale of the “blank canvas” central city lot represents a premium development opportunity.

“This is one of the most prominent commercial and residential development propositions currently available in central Auckland,” he says.

“A feasibility concept design model for the site features a very impressive development up to 50 metres high including ground floor retail as well as office and residential levels and basement car parks.”

Davies says the position and exposure of the corner land sets it apart from similar sites.

“Unlike many other inner city development locations that are squeezed in among existing and dominating buildings, this section has unobstructed, north facing profiles onto two separate and generous road-frontages.

“That means developers can be confident that whatever is designed for this site, it can’t be built out and will maintain a stunning, high profile aspect with good natural light..”

White says the closeness of the site to the waterfront underpins its future value and appeal for developers. “Nearly all developments between this section and the waterfront are on leasehold titles,” he says.

“As an additional bonus the property will continue to earn a useful holding income for the new owner while careful consideration is given to the extensive possibilities of the site.”

The property generates about $100,000 a year from its 38 car park spaces and the six billboards on short term contracts..

Under its present zoning and the proposed Auckland Unitary Plan the site allows office, retail and residential developments.           

Yao says adjacent properties are leading the transformation of this area towards attractive, higher quality, mixed use developments.

“Two significant residential developments are already planned nearby including a 98 apartment building at 70-74 Anzac Ave along with The Antipodean, 14level apartment block just around the corner on Beach Rd.”

She says the site at 2 Anzac Avenue is a short walk from the Britomart hospitality and transport precinct and the council-led, street revitalisation project underway in Fort St.

“The rejuvenation of Fort St is part of Auckland Council’s City Centre Masterplan, a 20 year vision drafted in 2012 that sets the direction for the future of the city centre as a cultural, civic, retail and economic hub,” says Yao.

“Some of the city’s finest office developments in the immediate vicinity, including the Vero Centre and Lumley Centre on Shortland St; the Deloitte Centre on lower Queen St and the Westpac headquarters at Britomart.

“The proposed redevelopment of Britomart Station into a two-way through station as part of the City Rail Link project will be of tremendous benefit to business owners and future residents in the Anzac Ave and Beach Road areas,” Yao says.

She says the location also has close access to Auckland’s motorway system and very high levels of passing traffic which benefits the six strategically placed on site billboards.

“We expect wide interest from both private and institutional investors along with developers with this property being marketed across Colliers’ Australasian and Asian network of offices.”

John, adam, jasmine.jpg

From left to right: John Davies, Adam White and Jasmine Yao of Colliers International.