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


Twin Newmarket Sites For Sale Set For Multi-unit Residential Development

Twin vacant sites for sale in Newmarket are set to give rise to a new multi-unit residential development in the midst of one of Auckland’s key urban intensification hotspots.

The approximately 734 square metres of freehold land spanning two titles at 14-18 McColl Street sits amid a vibrant business hub in the heart of Newmarket.

Currently used for parking, the land is underlain by development-friendly zoning.

Owen Ding of Bayleys Real Estate said the owners had drawn up development plans, with resource consent approvals in place to create a seven-level complex across the two titles. This would feature 43 apartments, two ground-floor retail shops and 10 car parks.

Public drainage extension work serving the sites had been completed and a request for council building consent was being processed, he said.

The McColl Street sites are now being marketed for sale together or individually by way of an auction on 17 March, through Bayleys Auckland Central and Bayleys Remuera.

Mr Ding and fellow salesperson Sarah Liu said the land for sale consisted of two equal-sized, adjacent freehold titles of 367 square metres each.

The apartment proposal was designed to maximise the potential across both titles, said Mr Ding.

“This project capitalises on the land’s Metropolitan Centre zoning under Auckland Council’s unitary plan. This zoning applies to centres which are second only to the city’s CBD in overall scale and intensity. It allows a wide range of residential and commercial uses and buildings up to a height of 32.5 metres, or eight storeys, subject to council approval,” Mr Ding said.

The property’s owners had also drawn up alternative concept plans for an individual six-unit terrace house development on each site, which provided options for purchasers interested in buying just one title, he said.

“With the resource consent in place for apartments, plus alternative concept plans for townhouses, buyers can make use of or modify the existing plans – or take advantage of the flexible zoning with a new project of their own,” said Mr Ding.

Ms Liu said any development would benefit greatly from its positioning in one of Auckland’s fastest growing and most sought-after locations.

“Newmarket is expected to be one of Auckland’s major growth locations. The Auckland Unitary Plan has seen many properties in the area applied with zoning that encourages more substantial development with regards to floor area and height,” Ms Liu said.

“Already home to one of New Zealand’s premier shopping precincts, Newmarket is undergoing a major urban transformation. This includes the $600 million redevelopment of the Westfield mall on Broadway and the new $141 million six-level office building for Mercury Energy.

“The University of Auckland will continue to develop its Newmarket campus just 200 metres from the McColl Street property. This campus is earmarked to absorb a large part of the university’s growth over the next 30 to 50 years,” said Ms Liu.

Less than two kilometres from Queen Street, the sites for sale were well served with easy access to major traffic arterials, motorway connections and train stations, she said.

Residential demand would be further heightened by the property’s location in the ‘Double Grammar Zone’ for enrolment at Auckland Grammar and Epsom Girls’ Grammar schools – and close to other top schools such as St Cuthbert’s College and Diocesan School for Girls, Ms Liu said.

Click here to find out more information on the property.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Frog Recruitment: Kiwi Workers Reluctant To Make Business Trips Across The Ditch Despite Trans-Tasman Bubble Opening

When the trans-Tasman travel bubble opens today, many Kiwi companies won't be rushing to buy an air ticket, reluctant to cross the ditch to do business. The latest survey conducted by leading recruitment agency, Frog Recruitment of nearly 1,000 New Zealand ... More>>

Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>

Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>


Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>