Rare Waterview seaside land goes up for sale, with a rates bill of around $12,000

By Anne Gibson, Corazon Miller

Two properties being sold at end of cul-de-sacs
Boundary lines for the two Waterview properties are indicative only, Bayleys says.
Boundary lines for the two Waterview properties are indicative only, Bayleys says.

A rare almost half-hectare of Waterview land is being marketed for sale, with prospective buyers told they could get more than 50 new residences in the popular Auckland suburb.

But they will also need to pay an annual $12,138.24 rates bill to Auckland Council for the big properties, listed on the authority's web site as having a combined capital value of $4,205,000.

A bird's eye view of the roughly 4805sqm combined sections at 73 Alverston Street and 76 Alford Street showed virtually blank canvases for keen property developers.

A rare opportunity in a city, which has been reported as needing between 30,000 to 40,000 new homes to keep up with demands.

Listed with Bayleys Real Estate the sections appeared bare, barring a single house sitting on a corner of each piece of land overlooking the Waitakere Ranges and the western reaches of the Waitemata Harbour.

Location of one of the two properties:

Bayleys is selling the twin-title properties at the waterfront ends of two cul-de-sacs.

Owner Chantelle Joseph had lived at the Alford Street house for two years, since she bought it for $1.8m mid-2015.

The thought of living by the water had been an enticing factor that led to her buying the house and moving in with her three small kids, two dogs and two rabbits.

"We were really looking forward to moving into such a spacious waterfront site with harbour views after 12 years abroad," she said. "Having about 5,000sqm on the water with a couple of jetties has been amazing."

When the neighbouring site on Alverston Street came up on the market Joseph was unable to resist the temptation to buy and bought it in November for $2.1m

"The neighbouring coastal site, 73 Alverston, then came onto the market at the end of last year by chance and I had always admired that property after trying to make an offer 14 years ago, by randomly knocking on the front door."

However, Joseph said she needed to move closer to her mum and sisters and have a space that was more manageable with her growing young family and so had decided to sell.

She said the land would be a boon for property developers and could help alleviate the city's housing crisis.

"Having two massive sites next to each other will provide a great package to a developer to intensify the properties and help alleviate the housing crisis."

Auckland Council information shows:
• 73 Alverston St is 2453sq m, has a capital value of $2,155,000 and its 2016/17 rates are $6202.18;
• 76 Alford St is 2352sq m, has a capital value of $2,050,000 and its 2016/17 rates are $5936.06.

Bayleys advertising tells how many residences could be built there and plans for a big townhouse/apartment development are shown in the information memorandum.

"Development concepts for over 50 units (subject to Auckland Council approval) developed by award winning Auckland based architects Leuschke Group are available," Bayleys says in advertising.

Tenders close on April 11 unless sold before then.

One of the two Waterview sites being marketed for sale.
One of the two Waterview sites being marketed for sale.

Agent Peter Tanner said two houses were on the big properties.

"There's one house on each site. On the Alverston site, you've got an old villa and on the Alford site it's a bungalow. The current owner has looked at development but they have three young kids and it's time for them to move on. Independently, they're two big sites."

Full information here:

- NZ Herald

Get the news delivered straight to your inbox

Receive the day’s news, sport and entertainment in our daily email newsletter

SIGN UP NOW

© Copyright 2017, NZME. Publishing Limited

Assembled by: (static) on production bpcf02 at 01 May 2017 05:23:28 Processing Time: 679ms