A 6.2 hectare Mt Wellington land site, comprising the second and third stages of the massive Springpark development less than 1.5 kilometres from the Sylvia Park shopping centre, is up for sale.
The overall development includes a commercial component of 439 sq m in the form of retail space for a cafe and/or small convenience shops to service the community at Springpark.
Held in two contiguous freehold titles, the land is zoned Residential 6A under the Auckland Council's current operative district plan and was identified as a Special Housing Area (SHA) in 2014. The property's addresses are 33A Panama Rd and 22 Hillside Rd, Mt Wellington.
Bruce Whillans of Ray White Commercial, with colleagues Kathy Ying and Ash Hira, is marketing the land covering Stage Two and Stage Three for sale by tender closing June 11.
Whillans says Stage One of Springpark is already underway but the developer, Redwood's Tony Gapes wants to divest of the remainder.
"The development has been incredibly successful so far and we are currently building the first 158 homes in Stage One," Gapes says. "We have sold over 80 per cent of the homes in Stage Two, but with over 300 homes still to build, this is a massive project for a small private developer.
"We think now is a good time to look at selling part or all of the Stage Two and Stage Three land or perhaps look at some joint venture opportunity. From a purchaser's point of view they would have a development in Stage Two to get on with almost straight away with very high pre-sales and the drawings complete. Additionally, they would have almost five hectares of land to master-plan and develop to their own designs."
Whillans says the two sites are earmarked for intensive residential development under the Proposed Auckland Unitary Plan (PAUP), and will be re-zoned under the PAUP to support the development of terraced houses and apartments up to four levels..
The Residential 6A Zone allows medium density residential development with a minimum permitted site size of 375 sq m and a maximum height limit of eight metres. The site at 22 Hillside Rd is zoned Residential 5 but will be used as an access lot for the development.
Master-planned and consented for 419 dwellings, Springpark has been designed in three stages to create a high-quality, 10.4 ha residential subdivision delivering a mix of terraced homes and apartments.
Over ninety per cent of the first 158 residential units in Springpark Stage One have been sold with advanced civil works and the first building platforms complete.
Whillans says the vendor is seeking a variation of the original resource consent dated October 2013 to allow for additional dwellings on Springpark's Stage Two development. The variation is due to be lodged this month with a decision from council expected shortly thereafter.
Stage Two has been designed to provide 58 three and four-bedroom terraced homes (subject to the consent variation), each on its own freehold title. Of these 47, or 81 per cent, of the homes have been conditionally sold.
Extensive planning, geotechnical analysis and presales marketing are already underway, Whillans says.
"The sale of Stages Two and Three will give another developer an opportunity to supply this much needed housing to the New Zealand market," he says.
Hira says the development is located between Mount Wellington Highway and Hillside Rd, Ryburn Rd and Panama RD only a 15 minute drive southeast of the Auckland CBD.
"It is also less than 1.5 kilometres from the Apex Mega Centre and the Sylvia Park shopping centre and will benefit from good access to public transport and the motorway network via the Mt Wellington Highway and State Highway One interchange."