Substantial Urban Brownfield Site With Residential Development Potential Placed On The Market For Sale
One of the last residentially zoned landholdings in popular North Auckland town, Matakana, has been placed on the market for sale.
The 3.0784-hectare landholding at 939 Matakana Road sits at the western entrance to the town - a gateway between Warkworth and State Highway 1 and the smaller seaside settlements of Omaha, Port Wells, Leigh, and Pakari.
The freehold Matakana land currently operates as an industrial-scale cement and concrete yard and production plant but is zoned residential single house under Auckland City Council’s comprehensive development plan.
Auckland Council’s residential single house zoning is aimed at maintaining and enhancing the amenity values of established residential neighbourhoods while allowing for planned growth in locations around the greater city.
Matakana has become a popular lifestyle and tourist destination owing to the attractive natural features in the surrounding areas and renowned artisan retail, food & beverage, and farmer’s market.
The rectangular-shaped property at 939 Matakana Road is now being marketed for sale by deadline private treaty through Bayleys in the North Commercial and Bayleys North Shore Commercial, with offers closing on June 2. Bayleys brokers Henry Napier, Chris Blair and Ranjan Unka said the property was the last remaining undeveloped address in Matakana’s rural-urban boundary (RUB).
“Matakana has experienced perennial population growth over the past decade culminating in new highs following last year’s lockdowns. This population increase has subsequently driven extreme demand for the limited residential zoned land supply,” Mr Napier said.
“939 Matakana Road represents the last viable landholding with the right zoning for residential development. The small supply left is very tightly held or being developed right now.”
“The format of the property itself encourages a two-staged development – with the vacant rear portion of the property being separated from the tenanted front area by a small stream and planting. It would be feasible for a residential subdivision to commence immediately on the back of the site, while retaining the commercial income on the rest of the property.”
The block for sale at 939 Matakana Road sits diagonally opposite the town’s primary school, and is just a few hundred metres walk from the town’s retail centre – famous for its weekend markets.
Mr Blair said that a portion of the 939 Matakana Road site was leased - to Fletcher Building for its concrete manufacturing and distribution activities, and landscaping and nursery supplies business Tumbleweed Coastal Plants - through to 2029, delivering a combined annual net rental of $128,000 per annum.
Auckland Council population growth forecasts for the Greater Warkworth/Mahurangi Peninsula and surrounding settlements including Matakana, estimate the region will sustain 25,000 permanent residents by 2030.
Mr Blair said that the rate of the region’s population growth was expected to increase even faster with the expansion of State Highway 1 into a four-lane motorway running from Johnstone’s Hill tunnel overlooking Puhoi through to just north of Warkworth and the Matakana Link Road which is set to by-pass the infamous Hill-street intersection.
“Unfortunately, the population growth has strained the local transport network which is now receiving much needed investment. The Motorway extension and Matakana Link Road will dramatically improve the driving experience for residents and tourists, especially during high volume periods,” he said.