Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Liquidators place block of land on the market for sale

Media Release

Liquidators place block of land on the market for sale

A significant residential development block of land has been placed on the market for sale by the liquidators. The property, which encompasses nine separate titles at 14-22, 28 and 30 Waimarie Road, has spectacular views over the Waitemata Harbour and Hauraki Gulf.

The 8,945 square metre site in the upmarket Auckland seaside suburb of St Heliers has been disputed in the courts by property developer Greg Oliver and his former-wife Sarah Sparks during nearly four years of litigation.

Now, under instructions from the liquidators at KPMG, the freehold properties have been placed on the market for sale through an international tender process.

Tenders close at 4pm on November 8, with the property being jointly marketed by Bayleys Auckland commercial and residential salespeople Mike Adams, Cameron Melhuish and David Rainbow.

The landholding is being marketed for sale as either nine separate individual sections, or as one combined block. Mr Adams said it was most likely that residential property developers would submit tenders for the unified block.

“The sheer size and scale of the Waimarie Road landholding, combined with the considerable array of residential development options for the site, means it’s incredibly hard to place a valuation on the properties,” he said.

“However, because of their configuration, it would be fair to say they are worth more as a whole than as the sum of their individual parts. Very rarely does a landholding of this size in such a commanding and prominent position come onto the market for sale.”

The individual sections range in size from 255 square metres up to 2,999 square metres. Combined, the nine titles and the large house in the middle of the block – spread across two sections - have an Auckland City Council valuation of $15.64 million.

Under Auckland Council’s operative unitary plan, the landholding is zoned residential – mixed housing suburban. The zoning allows for the building of one or two-storey standalone homes in various densities depending on section sizes.

The residential – mixed housing suburban zoning is the most common planning classification in Auckland and allows for intensification of land use provided any new residences retain the neighbourhood’s ‘suburban character’ - being set back from site boundaries and with landscaped gardens.

Any new development of dwellings on the Waimarie Road blocks would overlook the vast open cricket and soccer fields of Glover Park in the foreground, with the sea views as a backdrop. The property is one kilometer from quaint St Heliers Village.

Mr Adams said a small amount of consented excavation earthworks had been undertaken at the site some eight years ago before Mr Oliver and Ms Sparks separated and subsequently sought to take ownership of the land.

“However, as there is no installation of utilities or driveway access for the various multiple sites contained within the block, the land is still very much in a ‘brownfield’ state - where infrastructure for any new potential homes can be easily installed,” Mr Adams said.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>