Huge Silverdale land block for sale

5:00 AM Saturday October 3, 2015 Colin Taylor

Aerial view of big Silverdale land block for sale at 2110 East Coast Rd and identified by a red border.

A massive landholding suitable for development is on the market just one kilometre from the Silverdale town centre in one of Auckland’s fastest growing regions.

The freehold, 18.3 hectare block of land at 2110 East Coast Road, is for sale by deadline private treaty on Wednesday October 14 unless it sells earlier by negotiation.

“If the property is developed under the proposed Development Concept Plan, in conjunction with neighbouring properties as intended under the rezoning, the resulting comprehensive development will include both commercial and residential components,” says Tim Lichtenstein of Colliers International, who is marketing the property with colleagues Brad Visser and Jimmy O’Brien.

Visser says the land is being offered to the market for the first time in 16 years and is situated within a prime retail, residential and commercial location that is becoming the new service hub of northern Auckland as well as providing the gateway to the Hibiscus Coast..

“This property is ideally placed to meet the demands of what is a rapidly-transforming and population-booming location. Silverdale has been identified as one of Auckland Council’s top five areas for development and is earmarked as the future commercial heart of the Hibiscus Coast, catering to the significant forecast population growth in the region.

“By 2031, there are expected to be 140,000 people residing in the area. This represents a growth rate of 37 per cent since 2011, which is faster than the adjacent North Shore region, as well as the overall Auckland region.”

Lichtenstein says a recent Environment Court ruling has granted residential use over the site, as part of a development concept plan submitted by a group of neighbouring land owners..

“This is subject to an agreement including the Development Concept Plan being consented over the property and its three neighbours. However the resource consent could enable residential development at a ratio of one site per 250 sq m on the property.

“The Auckland Council notified Plan Change (123) involved submissions from landowners and subsequent appeals that resulted in the now operative Special 35 zoning coming into effect following an Environment Court order. However, new owners may still consider a private plan change if they wanted to vary from the existing, consented plan.”

Lichtenstein says the growing Silverdale catchment has surged into public awareness recently with the migration of several large retail developments and their blue-chip tenants who have invested there because of the areas fast-changing demographics.

“Pak’nSave, Bunnings and particularly The Warehouse, which has created 15,000 sq m of bulk retail space, have driven this migration. This retail growth seeks to capitalise on about 3000 homes currently planned in the Millwater development being built by Fulton Hogan just a couple of kilometres northwest from this landholding on offer.

“Millwater is certainly satisfying some of the region’s housing demand, but with more people moving into the region, demand is still outpacing supply and further substantial growth is planned and accounted for in the area.”

O’Brien says that as the population grows, spending in the area will also grow.

“Annual household expenditure is projected to grow from $876 million in 2011 to $1.2 billion by 2031, representing 51 per cent growth.

“The Millwater development, along with the expected population increase within Silverdale Centre’s catchment, means the future for developers here looks sound.”

Obrien says the property for sale has almost 300 metres of road frontage to East Coast Rd – one of the main arterials for the area which intersects just a couple of hundred metres from the Hibiscus Coast Highway.

Hibiscus Coast Highway passes immediately to the north of the land block via the northern motorway on and off ramps, and Auckland’s central business district is only a 20 minute commute in off-peak traffic.

The Silverdale area already has three primary and three secondary schools along with numerous golf courses, beaches and reserves a short distance from this land holding.

Tim, Jimmy.jpg

Tim Lichtenstein, (left) & Jimmy O’Brien of Colliers International.