Adjoining Mt Roskill sites ideal for redevelopment

5:00 AM Saturday November 7, 2015 Colin Taylor

Elevated view of two neighbouring freehold sites for sale at 234 and 236 Richardson Rd, Mt Roskill.

Two neighbouring freehold sites in Mt Roskill with a combined area of 1621 sq m are being marketed for sale as ideally suited to land bankers, investors, developers and owner occupiers.

“The properties are offered on a buy one or buy both basis,” says David Palmer of Barfoot & Thompson Commercial who, with colleague Cam Paterson is marketing 234 and 236 Richardson Rd for sale by tender closing at 4 pm on Thursday, November 26.

“Together the properties have broad frontage of 46 metres to Richardson Rd providing excellent profile and street access,” Palmer says. “Richardson Road is a busy suburban arterial route which set to get much busier as it provides feeder access to the nearly completed Western motorway link.”

Palmer says the land holdings are each occupied by substantial buildings suitable for business occupation. “Both addresses are currently vacant but are leased to Chevron which allows a generous timeframe with good holding income to obtain consents for developments that will take advantage of a Mixed Use zoning under Auckland Council’s Operative District Plan and a Town Centre designation under the Proposed Auckland Unitary Plan [PAUP].

 “The PAUP permits a 16.5 metre height limit a wide range of activities including commercial, leisure, residential, tourist, cultural, community and civic services. It typically enables buildings of between four and eight storeys – and increased heights for buildings that provide office and residential living on the upper floors.”

Chevron NZ (formerly Caltex NZ) pays $82,800 per annum on 10 year lease which commenced on October 1, 1996, with one right of renewal taking the final expiry date to September 30 next year.

The freehold 827 sq m title at 234 Richardson Rd has a wide street frontage to the main roadof about 20 metres. The building on site comprises a former petrol station with its canopy still in place. Access is provided to the rear workshop space from a driveway on the northern boundary and via the neighbouring property at 236 Richardson Rd which also gives basement access to 234. Four roller doors form the main entry and exit points along with a pedestrian entry from the forecourt.

A two level building occupies the 794 sq m freehold property at 234 Richardson Rd which has a 22 metre street frontage to the main thoroughfare along with off street parking for three cars. Access to the rear of the site is from a driveway down the southern boundary while the building is entered from the first floor along with ground floor access from the rear yard. Internal access stairs link both levels, and there is garage door access to the ground floor from the rear of the site.

“This is a well priced property in an improving location with favourable seismic reports, good holding income and significant development upside that merits the serious consideration of add-value investors, owner occupiers and developers,” Paterson says. “It is surrounded by a large residential catchment and is in an area where there is a strong local demand for retail activities.

“This location will also be positively impacted by the significant infrastructure projects currently underway and specifically the new motorway development which will dramatically improve access to this location from south and north-west Auckland.

“The properties at 234 and 236 Richardson Road are high exposure sites just along from the

major intersection with Stoddard Rd. Both Richardson Road and Stoddard Road are major

transport routes carrying around 14,000 vehicles daily.”

Paterson says that apart from neighbouring commercial and retail properties, the immediate area is mainly residential with Mt Roskill surrounded by suburbs like Mt Albert, Blockhouse Bay, New Windsor and Avondale. “All of which have seen significant recent increases in population density thanks to improved transport links, zoning changes and being close to the city”.

David, Cam.jpg

David Palmer (left) and Cam Paterson (right), of Barfoot & Thompson.