The site at Warkworth encompasses 3.2ha of land in two titles. Photo / Supplied
A trio of "greenfield" residential development sites are for sale on Auckland's metropolitan and urban fringes.
The three sites around Auckland have come on to the market simultaneously — with a combined capacity to accommodate about 118 new dwellings in a variety of configurations.
The trio of bare land holdings spanning the city's northern, eastern, and southern boundaries, and offering residential development opportunities are:
• the final two stages of a large-scale residential development at Warkworth just north of the city — encompassing 3.2ha of land in two titles;
• a 5374sq m block of near-level land with a 93sq m frontage onto Botany Rd in the East Auckland suburb of Botany; and
• about 23,725sq m of residential-zoned land with two street frontages in the semi-rural township of Pukekohe just south of Auckland.
Warkworth, Botany and Pukekohe are identified as future residential growth areas in the Auckland Transport Alignment Project (ATAP) earmarked for $28b worth of transport infrastructure development plans for the city and greater Auckland Isthmus over the coming decade. The project brings together multiple Government agencies (Transport, Treasury and Kiwirail) and Auckland Council.
Each site is being marketed in a Bayleys Real Estate campaign, as well as featuring in the latest Total Property portfolio magazine, with national director of commercial and industrial property Ryan Johnson saying they reflect an evolutionary phase in the city's property cycle.
"While three or four years ago we saw expansive landholding swathes of say 10ha — sites suitable for subdivision into hundreds of sections — that stock is now much rarer. Much smaller landholdings are becoming the norm.
"Smaller development sites are delivering opportunities more appealing to a wider target buyer market, suited to taking on 'bite-sized' projects as opposed to the bigger corporate-sized home-building companies involved in the likes of Hobsonville Pt, Millwater, Ramarama/Drury, and Flat Bush. With substantial KiwiBuild locations in the pipeline across Auckland, attention is returning to smaller, more traditional opportunities," Johnson says.
"Such sites are more palatable for bank funding in light of tighter lending restrictions. They generally equate to a lower-risk profile, and banks feel more comfortable lending several million dollars for a project which is relatively straightforward than lending tens of millions of dollars to a 'from scratch' project."
Two adjacent Warkworth sites for sale have the potential to accommodate up to 83 residential dwellings when fully developed. At John Andrew and Anne Burton Drives in the town's McKinney Valley, the blocks encompass Stage 3, which has resource consent for 25 single home sections averaging 600 sq m and Stage 4 which has as-yet unconsented plans for the creation of 58 terraced housing sites averaging 350sq m. The blocks are being marketed by tender through Bayleys Warkworth, with tenders closing at 4pm on May 16. Salespeople Henry Napier and Dylan Turner say they can be tendered for individually, or together, and will include the civil works feasibility study and subdivision application plans.
In Pukekohe a 23,725sq m block of land, at 92 Anzac Rd is being sold with concept plans for the development of 20 standalone residential sections. The site is being marketed by auction at 11am on May 15 through Bayleys Pukekohe. Salespeople Shane Snijder, Piyush Kumar and Ginny Cheyne say in addition to the Anzac Rd entrance, homes will also be accessible off Upper Queen St.
Rounding out the trio of future residential developments is a 5374sq m bare site at 179 Botany Rd — with the potential to sustain 15 standalone sections. The freehold site, with a 93m frontage onto Botany Rd, is being marketed for sale at auction at 11am on May 15 through Bayleys Manukau. Salespeople Dave Stanley and Harry Cheng say it's one of the last remaining greenfield plots in the area with the land encircled by anestablished neighbourhood.
The Auckland Transport Alignment Project report says working in conjunction with residential property developers is core to making Auckland suburbs and satellite townships appealing destinations to live in.
"Over the next decade, around 32,000 new homes housing up to 100,000 people are expected to be built in major greenfield growth areas to the north, northwest and south (of Auckland). Significant investment in transport infrastructure will be needed to enable this growth," says the report.
"The ATAP package has been developed by assessing possible land-used responses to investment in rapid transit corridors. Rapid transit needs land-use policies which unlock growth around transit corridors.
"The transport challenge is not just one of congestion, but also enabling and supporting a rapid acceleration in the rate of housing construction."
For Botany, the ATAP report spotlights the importance of pushing ahead with the Eastern Busway linking the suburb to Panmure with its rail connections to the CBD.
"The provision of an urban busway that allows buses to avoid congestion will improve travel times, reliability and corridor throughput along Ti Rakau Drive. The busway also provides an excellent opportunity to unlock significant growth potential… particularly at Botany."
For Pukekohe, the ATAP white paper identifies the southern extension of the city's electric rail network upgrade as key to reducing travel times and increasing the frequency of trains for stations between Pukekohe and Britomart.
"These upgrades should focus on enabling rail to play a much greater role in meeting the current and future travel needs of the south, where substantial greenfield growth is planned, and where public transport use has been historically low," said the report.
For Warkworth, the State Highway One Puhoi to Warkworth motorway extension is pinpointed in the ATAP research as crucial to improving both the route's reliability and safety.
Who bought, who sold, who did the deals.