Large Ranui development site

12:00 PM Friday March 30, 2018 True Commercial

The industrial site for sale, with a house, at 42-52 Munroe Rd is roughly identified by a blue border. Photo / Supplied

A substantial 1.5ha development site with the potential to accommodate up to 33 new homes is for sale in the West Auckland suburb of Ranui.

Colliers International is marketing 42-52 Munroe Rd for sale by deadline private treaty, closing at 4pm on April 19, unless sold earlier.

Josh Coburn, the agency’s director of site sales, says the property is well located in an established residential suburb which has become increasingly popular in recent years.

“This offering gives astute residential developers or land bankers the opportunity to acquire a reasonably priced, bite-sized development opportunity in Auckland’s growing western suburbs,” he says.

“The site is well serviced by local shops and is close to excellent public transport links, including the Ranui Train Station a short distance to the north.

“With views over the attractive Paremuka Lakeside Reserve, wide road frontage and an easy contour, the site lends itself well to residential development.”

Coburn says the 15,370sq m site encompasses three industrial buildings built between 1985 and 1988, and a three-bedroom house relocated to the site in 1992. It is already connected to city services and is ready for development now.

West Auckland broker Sean Finnegan says the site’s Single House zoning allows for the development of up to 26 new dwellings.

However, the nature of the site gives the opportunity to push for greater density through a non-complying resource consent application. “The vendor has begun work on a comprehensive development scheme for about 33 dwellings,” he says.

“Auckland Council is likely to look favourably on the proposed scheme, given the site’s proximity to other higher-density developments in the area. The property is directly adjacent to Charlenne Close, which council supported rezoning from Single House to Mixed Housing Urban, resulting in higher-density development.

“The site is also only 250m from the nearest Terraced Housing and Apartment Building zone.”