"Auckland Council has identified the area as a key regional growth node in the new draft Unitary Plan and is investing heavily in the northwest region to facilitate the development of Kumeu as an urban commercial and retail centre, to support Auckland's growing population as it expands westward.
"Many developers can handle both residential and commercial schemes, but for those specialising in one sector or the other, we can assist in bringing complementary parties together."
Warby says the property is being sold by Maddren family interests, which has owned the large land parcel in Kumeu town centre since the 1970s. The site was occupied by a variety of family businesses including Maddren Homes and Maddren Timber, but these businesses were sold a few years ago and the land became surplus to the family's requirements.
In 2009, about 2ha of the land was sold to Foodstuffs to build the New World supermarket. The deal included an agreement that the parties would co-operate on a private plan change process to allow further development, which was made operative by Auckland Council in November 2011.
The private plan change divided the site into four distinct parts with the area sold to Foodstuffs for a supermarket designated for large format retail. The remaining areas comprise the 10ha now being offered for sale. Around 4ha is earmarked for up to 20,000sq m of mixed-use town centre including smaller retail stores, healthcare, food and beverage, and offices. Another area of about 4ha is set aside on the private plan to accommodate up to 150 residential units.
The remaining 2ha is allocated as floodway reserve around the rear of the site and can be used for facilities such as car parking, landscaping, parks and recreational uses.
Seymour says a recent Auckland Council plan change envisages a mixed-use town centre development of up to 20,000sq m of retail and other commercial uses, and up to 150 residential units.
"The area will be a hot spot and will soon benefit from the 3000sq m New World supermarket opening on this property's doorstep."
He says a master plan concept has been prepared illustrating how the 10ha site for sale might be developed. It depicts a mix of residences and a park with walking trails and playgrounds, along with areas for retail, office and service station uses.
The site fronts the busy State Highway 16, with up to 30,000 traffic movements per day depending on time of week. A new signal junction will be installed on SH16 as part of the supermarket development to improve traffic flows and provide access to the future development lots.
"A benefit for the buyer is that some of the existing improvements and land is leased to tenants who provide annual net holding income of around $425,000," Seymour says. "However, there are termination provisions in the leases to facilitate redevelopment."
Seymour says Kumeu is well placed to absorb a growing Auckland population and is already undergoing rapid urbanisation, with its residents having household incomes well above the Auckland average.
"Statistics New Zealand forecasts a 21 per cent rise in the population living within 10km of the town in the next 10 years," Warby says.
"Mains water and wastewater services are being upgraded and the Northwestern Motorway extension to Brigham Creek Rd brings it about 5km from Kumeu. "The new motorway improvements have vastly reduced travel times to the Auckland CBD and North Shore and it is now a well-connected Auckland suburb.
"The sale of this land represents a very exciting opportunity and any developer who buys into it will be part of the historic transformation of the area."
