Avondale, ripe for development

Now home to the Salvation Kitchen cafe, 1843 Great North Rd has potential to be developed more intensively. Photo / Supplied

A large under-utilised land holding in Avondale Village is for sale, offering a wide range of opportunities for its next owner.

The 2309sq m site at 1843 Gt North Rd, which has been owned by the vendor for 28 years, has a favourable Business Town Centre zoning under the Auckland Unitary Plan. This brings potential for development up to a height of 32.5m, says Laurie Bell, who is marketing the property with Bayleys Auckland colleague Kate Kirby. Featured in Bayleys' latest Total Property portfolio, the offering goes to auction on August 2, unless sold earlier.

"This is an opportunity to secure a large freehold standalone holding in Avondale's commercial precinct," says Bell.

There are about 300sq m of buildings on the site, including a cafe with an annual net rental of $34,898 net, and a villa which is generating gross annual rental income of $18,000.

The property was developed as a service station around 1980. Its former 170sq m main building has been refurbished and is now occupied by the Salvation Kitchen cafe, with about 10 carparks. The cafe's lease runs until May 2018, with no rights of renewal.

To the rear of the site is a 112sq m residential villa and double garaging with its own driveway access.

"The property is at the northern end of the Avondale retail and business precinct, with a high profile position on Great North Rd opposite the police station serving Avondale plus nearby suburbs, says Bell. "It is also very close to the busy Rosebank Rd industrial precinct.

"Avondale offers good proximity to the Northwestern Motorway system, the just opened Waterview Tunnel and associated western ring route. Transport options include the nearby train station."

Kirby says Avondale College, primary and intermediate schools are in walking distance and the racecourse close by. "The Town Centre zoning provides a focus for commercial and residential intensification and growth," she says. "The zoning typically enables buildings of between four and eight storeys, with this property's height limit at the top end of that range and providing plenty of options and opportunities."

The property has a July 2014 capital valuation of $2.45m, with a land value of $2.2m.