Big Albany business site ready to go

5:00 AM Saturday March 21, 2015 Colin Taylor

Elevated view of level freehold 1.2 ha site for sale at 24 Oteha Valley Rd Extension, Albany.

One of the last big pieces of vacant freehold business land available in Albany on the North Shore is being marketed for sale on behalf of a private family trust.

The 1.2 hectare property at 24 Oteha Valley Rd Extension is located in a key part of the nearly fully-developed Albany Business District.

“An almost limitless range of permitted uses under the Business 9 zoning means the property will appeal to a wide variety of buyers,” says John Bedford of CBRE who, with colleague Peta Laery and Simon Farland of Barfoot & Thompson Commercial, is jointly marketing it for sale by public tender closing on April 16.  

“With no other Business 9 sites of this size still available for sale in the Albany Business District, we expect this property will be keenly sought after,” Bedford says.

“There is only an estimated 35 hectares of Business zoned land remaining on the North Shore, including brownfield redevelopment sites. Companies with no presence on the North Shore will view this level site as an excellent opportunity to secure a foothold and we expect interest from a wide range of buyers including retailers, supply chain businesses, developers, land bankers, logistics operators and storage providers.”

Laery says the site is available to be developed or occupied immediately, with extensive concrete hard stand, fencing and all services already in place. “This makes it much more attractive than a simple greenfield opportunity.”

She says the site’s strategic position gives it linkage to its immediate neighbours, which include Placemakers, North Harbour Stadium, Albany Village and Albany City Centre.

“For businesses looking to supply the large format retail in the area, or to support any of the other businesses located here, this site is perfect given its wide range of permitted uses.”

Indicative plans for three separate office and warehouse units with parking and yard areas demonstrate the site can easily accommodate a building floor area of some 5500 sq m. “However there is potential to increase this area significantly depending on the occupiers use and requirements”, Laery says.

“The site’s level platform and existing hard stand area means it could be leased to a yard-based user looking for immediate occupation, while the new owner makes plans for eventual development.

“Zoned Business 9 under the North Shore City Operative District Plan, with no onerous development covenants on the site, there are significant opportunities for a wide range of employment-generating business activities to establish in this location. No other piece of vacant land nearby has this flexible zoning. The site is presently within one title incorporating the land and buildings of Placemakers, and a new title is being created now, with the process far down the track, allowing a broad approach with few use restrictions.”

Farland says the site offers significant future potential and has a large street frontage to a busy connecting road.

“Oteha Valley Road is a key road linking the North Harbour industrial and commercial precincts and access to the northern motorway is only 1.5 km away.”

 John Bedford, CBRE.jpg

John Bedford of CBRE.