Developers are being offered the opportunity to purchase close to 10 hectares of land with water views in the latest stage of the rapidly expanding Hobsonville Point development in West Auckland.
The freehold land is part of a 20ha Auckland Council owned site originally earmarked for a marine precinct. The council's Auckland Development Committee has approved a masterplan which is enabling up to 890 new homes to be developed on the land to help alleviate the city's housing shortage. It includes provision for a Mixed Use zone which may include commercial premises to provide jobs and services for the 11,000 people that it is estimated will eventually live at Hobsonville Point.
Panuku Development Auckland has developed the masterplan for the site, dubbed the Airfields precinct, in conjunction with Hobsonville Land Company. Six mega-lots with associated roading have been created, two of which are to be Mixed Use. This includes a 3.8ha block on Launch Rd near the point's main commercial precinct, known as The Landing, and a 2.2ha block on the corner of Launch and Hobsonville Point roads. It is envisaged these two lots will provide a mixture of retail, office and residential accommodation.
The balance of the site is residentially zoned. The plan provides for a mix of housing types to promote a diverse residential community including detached dwellings, terraced housing and apartments, with at least 10 per cent of the homes to be "affordable" under a Special Housing Area designation.
Three of the residential mega-lots lots totaling 9.915ha, which have the capacity to provide over 500 dwellings, have just been released for sale by Panuku.
Bayleys' Gerald Rundle, James Chan and Mike Bayley have been appointed to market the offering which is featured in Bayleys' latest Total Property portfolio.
Registrations of Interest are being sought in the lots closing November 1 unless sold earlier by any other method of sale.
Rundle says this is one of the last substantial land holdings for sale at Hobsonville Point. The land is available as one block although registrations can also be lodged on individual mega-lots which range in size from 2.329ha to 3.598ha.
"The lots are located on a prime piece of land in the heart of Hobsonville Point with the elevated position giving the site wide ranging views of the coastline and inner Waitemata Harbour," says Rundle.
"The Airfields development has been master planned to ensure integration with the adjoining precincts and infrastructure. Design guidelines have been formulated which all purchasers will be required to comply with."
Allan Young, director of development for Panuku, says the council agency will work with a selected purchaser or purchasers to ensure that the best possible outcomes are achieved for the Airfields precinct.
"We will assist where required to support the creation of titles and provide a liaison role between purchasers and key stakeholders, while ensuring purchasers deliver the outcomes sought under the masterplan".
Panuku is already working with developer AV Jennings on developing the first residential stage on the southern end of the Airfields precinct. This 1.95ha site will deliver 102 homes with a completed value of around $78 million.
Mike Bayley says residential development so far undertaken at Hobsonville Point has been met with high demand, with most dwellings selling off the plans well ahead of construction completion and showing significant capital value appreciation.
He says the entire Hobsonville Point development has been master planned to international best practice and there is a wide range of amenities and facilities within walking distance of the Airfields precinct. These include new primary and secondary schools, the Catalina café, The Landings commercial and retail precinct which also encompasses a Farmers Market and ferry terminal, Hobsonville Point Park and Playground, and access points to a four kilometre coastal walkway
"Within a ten minute drive of the Airfields precinct is the Hobsonville neighbourhood centre. This is a new retail and employment precinct which includes a Countdown supermarket and other convenience retail, with additional shops, another supermarket and commercial space planned," says Bayley.