Substantial Eden Terrace Portfolio
Portfolio,, Flower Street and New North Road, Eden Terrace, Auckland City
Price On Application
- Proposed Usage
- Floor Area
- 6050.60 m²
- Land Area
- 4358.00 m²
- Property ID
Bayleys Real Estate Limited are pleased to offer for sale as one parcel 2 Flower Street, 3 Flower Street & 40 New North Road, 44 New North Road, 46-48 New North Road & 52 New North Road, Eden Terrace, Auckland.
This is a rare opportunity to secure a 4,358 square metre freehold Eden Terrace landholding. Held in six titles, the portfolio is in prime position to benefit from the emerging City Rail Link (CRL) infrastructure around the existing Mount Eden train station and rezoning under the Council's Auckland Unitary Plan (AUP).
This offering presents a range of opportunities that must be investigated. Development intensive zonings, with additional height overlays in place, provide a range of development options that can include residential, commercial and retail. In addition to site redevelopment, add value angles of the existing buildings on each site each site must also be considered, either for long term investment or individual sell down. The property will be sold with a three year leaseback to Mediaworks. Sit back and enjoy the cashflow while you formulate your plans for the site.
The game changer for the immediate location will be the completion of the planned City Rail Link's Mt Eden Station. Positioned almost adjacent to the portfolio offered for sale, the Mount Eden Station will be enlarged and redeveloped, with land acquired in the immediate vicinity potentially providing more than 100,000 square metres of residential and commercial investment which will add significant value to this location.
In summary, this opportunity provides a range of significant add value opportunities and is positioned in what is expected to be one of the City Fringe's biggest commercial and residential locations with the advent of the CRL's Mt Eden Train station and associated development.
For full information please visit: www.mwsproperty.co.nz