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


Urban Residential Intensification Block Placed On The Market For Sale

A large swathe of suburban development land described as “a textbook example” of Auckland’s residential intensification has been placed on the market for sale.

The property in the West Auckland suburb of Massey - with views toward both the central city and the Waitakere Ranges - encompasses 11,590 square metres of land spilt over two titles and zoned Mixed Housing Suburban under the Auckland Council Plan.

The land has dual entrances – off Don Buck Road and Tiriwa Drive - and is being offered with an option to buy one or both titles, leaving space to explore what the combined sites could potentially encompass.

The property at 64 Don Buck Road/29 Tiriwa Drive is now being marketed for sale by tender through Bayleys Ponsonby, with tenders closing on July 16. Salesperson Jock Kooger said the ridge-top block was “a textbook example” of how the city’s older housing stock was being replaced to reflect a new type of dwelling more in line with the demands for this great location.

“The block is a unique one in which you get the view and also very good holding income, from the four houses on it. And I’m looking forward to seeing how this site will be transformed with the possibilities of a high-density model over the 1.15ha site” Kooger said.

“The Auckland Unitary Plan opens up some interesting options for sites over 1ha, so one shouldn’t overlook a terraced housing model with the demand for more affordable housing in the area.”

Auckland Council’s residential Mixed Housing Suburban zone is the most widespread residential zone covering many established suburbs and some greenfield areas in the metropolis.

“The zone enables intensification, while retaining a suburban character. Development within the zone will generally be two storey detached and attached housing in a variety of types and sizes ideal for families and first home buyers. The height of permitted buildings is the main difference between this zone and the Residential – Mixed Housing Urban zone which generally provides for three storey predominately attached dwellings.”

The large Don Buck Road site currently sustains three individual residential dwellings – ranging in size from two bedrooms up to nine bedrooms, and generating a weekly income of $2,080. Plus there is a four-bedroom brick home on 29 Tiriwa Drive with an estimated rental appraisal of $750 per week, providing a total forecast income of just over $147,000 per annum.

Kooger said the property has proposed plans for 25 lots that could accommodate large five-bedroom standalone homes, however, with the regulatory rules allowing for far greater density on such sized sites under this zone, he is expecting to see someone maximise the opportunity at hand.

“I have the file for the site with plans for four and five-bedroom homes ranging in size from a generous 198 square metres up to 235 square metres and double internal access garaging” he said.

“However, this site holds far greater potential than that, so I am expecting someone to truly maximise this site’s full potential.

“The holding income from the current residential tenancies in place will allow any potential new owner the time to develop an alternative subdivision proposal which could look at the block’s potential in its entirety,” Kooger said.

The property’s location has it surrounded by multiple parks – including Helena Park, Woodside Reserve, Te Rangi Hiroa Park and Zita Park all within a few hundred metres walking distance in three different directions. It is also located under 5km from Westgate Shopping Centre and motorway links.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Reserve Bank: Further Easing In Monetary Policy Delivered

Tēnā koutou katoa, welcome all. The Monetary Policy Committee agreed to expand the Large Scale Asset Purchase (LSAP) programme up to $100 billion so as to further lower retail interest rates in order to achieve its remit. The eligible assets remain ... More>>

Retail: Post-Lockdown Retail Card Spending Picks Up

The rise in retail card spending was boosted by sales of furniture, hardware, and appliances, Stats NZ said today. “For a third consecutive month, card spending on the long-lasting goods (durables) remained at higher levels than last year, after ... More>>

Contact: Business Drops, New Generation On Hold

New Zealand’s second-largest energy company Contact Energy (‘Contact’) released its full year financial results for the 12 months to 30 June 2020 (‘FY20’) this morning. More>>

Mining: OceanaGold Announces Receipt Of WKP Mining Permit

MELBOURNE, Australia, Aug. 6, 2020 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the 'Company') is pleased to announce it has received the mining permit for Wharekirauponga ('WKP') on the North Island of New Zealand. ... More>>


Economy: COVID-19 Lockdown Has Widespread Effects On Labour Market

In the June 2020 quarter, the seasonally adjusted unemployment rate fell to 4.0 percent, down from 4.2 percent last quarter, while underutilisation rose, Stats NZ said today. More>>


NZ Post: New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3

New research by NZ Post into how the COVID-19 response has impacted the way Kiwis shop online, shows online shopping increased 105%* when the country moved into Alert Level 3, and may have changed the way Kiwis shop permanently. Online spend peaked ... More>>


Antarctica NZ: Ice-Olation

Antarctica New Zealand is gearing up for a much reduced season on the ice this year and a very different deployment to normal! Before they head to one of the remotest places on the planet, all personnel flying south with the New Zealand programme will ... More>>


QV Valuations: July House Price Index Illustrates Market Resilience

According to the July 2020 QV House Price Index (HPI) results out today , property values recorded a marginal increase, up 0.2% over the month. This is somewhat of a turnaround from June, after the national index edged 0.2% lower. More>>


Property: Queenstown Rents Experience Biggest Drop In Seven Years

Rental prices in the Queenstown-Lakes district saw the biggest annual percentage drop in seven years after falling 28 per cent on June last year, according to the latest Trade Me Rental Price Index. Trade Me Property spokesperson Aaron Clancy said ... More>>

Seismology: The Quiet Earth

As many daily activities came to a halt during lockdown, the Earth itself became quiet, probably quieter than it has been since humans developed the technology to listen in. Seismologists have analysed datasets from more than 300 international ... More>>

RNZ: James Shaw Says Kiwibank, Not Ministers Should Decide On Investors

Climate Change Minister James Shaw says Kiwibank's decision to stop doing business with companies dealing in fossil fuels is the right one. More>>


FMA: Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments

Despite the majority (60%) of investors experiencing losses as a result of COVID-19, the outlook on investing remains positive, according to a Financial Markets Authority (FMA) survey. Most Kiwis (71%) were optimistic that the pandemic will pass eventually ... More>>

FIRST Union: Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off

(FIRST Union comments on The Warehouse consultation and proposed restructure) 'Unfortunately the Warehouse have done the disappointing thing and used Covid-19 to justify a bunch of operational business decisions that will leave hundreds of workers without jobs ... More>>