"Develop now or land bank for a future cycle – this a superb opportunity to acquire a bare landholding on a corner site, in the centre of Albany, with an appealing mix of location and flexibility, " says Peterken.
"It's at the centre of a residential and retail hub offering superb amenities. Nearby developments include Westfield Albany, QBE Stadium, Massey University, the Albany Mega Centre, and numerous apartment projects. With such a wave of activity nearby, the site is superbly positioned to capitalise on Albany's tremendous growth."
The property has favourable Business Metropolitan Centre zoning under the Auckland Unitary Plan, allowing intensive mixed-use development of up to 72.5m in height. Permitted uses include residential, accommodation, retail, commercial and hospitality.
Higginson says the high-profile site is regular shaped with excellent frontage.
"Being at the corner of Appian Way and Corban Ave, there's excellent access to the Northern Motorway interchange at Oteha Valley Rd to the east and the Albany Highway to the west.
"The area is well served by public transport, with the Albany bus station located about 1km to the northeast. About 1100 car parking spaces are provided for bus commuters.
"The Northern Busway bypasses general traffic, providing a hassle-free commute to Auckland CBD. Stops along the way service the wider North Shore are, with stations at Constellation Drive, Smales Farm and Akoranga."
Accessibility to the area will be greatly improved by the New Zealand Transport's Northern Corridor Improvements project.
To be completed in 2022, this comprises a new interchange between the Northern Motorway and Upper Harbour Motorway, extra motorway lanes, new busway infrastructure and a cycleway.
Higginson says the property is located within a still underdeveloped area of Albany that is earmarked for a mix of intensive development under the Auckland Unitary Plan. Commercial occupiers nearby include a tyre fitting centre, gym, food and beverage operators and a childcare centre, all serviced by open air car parking.
A large format retail and office development is further to the northeast at 260 Oteha Valley Rd. Further south is Albany Lake Reserve, which occupies the most central point of the town centre.
Higginson says the site for sale is rectangular shaped, with 75m of frontage to Appian Way facing QBE Stadium.
The property is offered with multiple resource consents in place for a mixed-use residential, retail and office development.
Higginson says the new owner can progress these plans, or propose a more scaled-backed development.
"The site lends itself well to residential, retail, accommodation or office development, or a mix of all of these uses," she says.
"With its mix of flexibility and location, the site offers a superb chance to develop or hold."
