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Prime Albany property to be sold

Media Release
Date 24.10.2008

Prime Albany property to be sold

The Albany land and buildings which make up the 7.6 hectare property and communal living buildings at Mills Lane, Albany just north of Auckland are being sold by Public Trust as trustee for the New Zealand Community Growth Trust through a tender process. The Trust is the successor to the Centrepoint Community Trust which was established in 1977.

The bush-clad Albany property and its range of associated buildings is being marketed by Bayleys Realty Group. Bayleys sales consultant Nigel McNeill said the unique nature of the property and buildings opened up a huge range of potential future uses.

“Less than 40 per cent of the total land area is cleared, and is occupied by a range of very well constructed community facilities including a large kitchen and dining area, recreational building, large swimming pool complex, full-scale professional pottery studio with gas-fired kilns, dance/music/art studios, six wood and metal workshops, crèche and residential accommodation blocks,” Mr McNeill said.

“Substantial infrastructure such as roading and bridges, have been installed over the years to create the basis of a very well serviced communal living setting.”

Mr McNeill said target market buyers for the Albany property would include tertiary education providers, cultural groups, art patrons, adult education organisations, religious groups, larger community organisations, and environmental enhancement and protection agencies.

The burgeoning new Albany Centre development including a swathe of supermarkets, retail outlets and office blocks is literally across the road from site.

“Alternatively, we envisage the land could be developed into a luxury hotel, health centre or retirement village. Supporting the hotel option, the North Shore region has very few four-star accommodation providers – the largest being in Takapuna quite some distance away. With the ongoing wave of development growth in the Albany basin, this is an excellent opportunity to capitalise on building a hotel within the immediate catchment area,” Mr McNeill said.

Mr McNeill said the 7.6 hectares also contained a number of beautiful native woodland enclaves, along with gentle-flowing streams, all combining to create a natural oasis of greenery in what was becoming ‘suburbia’.

“The environmentally-appealing aspects of this property can’t be overlooked, which is probably why the beauty and peaceful serenity of the property was chosen as a community in the first place,” Mr McNeill added

The property is currently leased by the New Community Society of New Zealand. The community has developed a number of eco-friendly self-sustaining practices, with a number of artists taking advantage of the excellent pottery, woodworking and metal shop facilities on the site.

Mr McNeill said the property had many attractions such as its park-like setting, and proximity to Auckland and Albany as rapidly growing suburban centres.

Public Trust has been contacted by several interested parties over the past year enquiring about the potential private sale of the Albany property.

Public Trust spokesman Simon Dixie said that as a result of that potential buyer interest, the site and its buildings were being publicly promoted to a wider market to ensure a robust process aimed at achieving the best result for the trust.

“The decision to sell the Albany property was made following a strategic review of the trust’s assets. Realising the value of this asset will allow us to take a broader long-term approach to help meet the objects of the Trust,” Mr Dixie said.

The Mills Lane tender process closes at 4pm on Thursday, 4 December 2008 with all expressions of interest being taken by Nigel McNeill of Bayleys Auckland.


ENDS

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