Red Cross Building Redeveloped to City Apartments
Red Cross Building to be Redeveloped into City Apartments
New Zealand Red Cross has realised more than $4 million for its central Auckland premises which have been bought by a city apartment developer.
The two Wakefield Street buildings were purpose built for the Red Cross in 1971 but the rise in property values in the area meant the site had become the organisation’s richest asset and a strategic decision was made to relocate to free up funds for further humanitarian work.
The adjacent buildings were sold through a successful tender process managed by Barfoot and Thompson Commercial. Spokesperson Wayne Muir says, “The property’s location in the education zone and close to Queen Street led to strong buyer interest. The successful tenderer paid $4,168,800.”
“The site is 1,181 square metres in a prime location with dual road frontages to Wellesley and Airedale Streets and zoning which allows redevelopment to a height of 50 metres.”
“The confidential purchaser is an established Auckland apartment developer who is now scoping the options for the site, which may include retaining part of the existing structure.”
Red Cross Regional Director Patrick Cummings says the organisation will be moving out of the central city.
“We want to replace the city site with two service centres in Ellerslie and Manukau. Our core business is providing first aid training courses and it was becoming hard for attendees to find parking around Wellesley Street, so easier access and parking will be a priority.”
“The sale also frees up
funds for New Zealand Red Cross to increase its humanitarian
activities both within New Zealand and