Parnell site with consents for apartment complex

11:00 AM Monday November 10, 2014 Colin Taylor

Aerial view of development site at 11A Cheshire St, Parnell – identified by a red border.

A development site with a mixed commercial and residential zoning adjacent to the proposed Parnell railway station is for sale with resource and building consents in place for a 36 apartment complex overlooking The Domain.

Located at 11A Cheshire St, Parnell, two blocks west of lower Parnell Rd and off Akarua St, the level, bare land site is featured in Bayleys’ latest Total Property portfolio. It is up for sale by tender closing December 4, unless it sells earlier, and is being marketed by Mark Pittaway and Colin McKenna of Bayleys Auckland.

Pittaway says the 1031 sq m property has both resource and building consents for a six level residential apartment complex consisting of two levels of car parking at basement and ground levels, and four levels of residential apartments above. The design features a mix of one and two bedroom apartments with the living area and bedrooms split over two levels plus a deck, ranging  in size from 60 sq m to 94 sq m. “The apartments have been designed in such a way as to provide a number of options to suit individual preferences and with each apartment appointed to a high standard,” Pittaway says.

The project has been planned in two stages and work has begun on Stage One with the site levelled and piling works partially completed. “Our understanding is that at least $600,000 has been spent on the project to date and Stage 2 which includes the construction of the apartment building has approved building consent plans available,” says Pittaway.

The comprehensive building plans produced by Clark Brown Architects would be available for a prospective purchaser if they are interested in pursuing that option, he says. “Of course it is entirely over to a new owner as to whether they continue with this project or not. The flexible mixed use zoning, which continues on under the Proposed Auckland Unitary Plan, allows for either commercial or residential buildings on the land or a combination of the two.”

Under the current zoning, development controls allow for a basic two-to-one and maximum four-to-one site intensity up to a height of 15 metres.

McKenna says the site has a shared access way from Cheshire Street and backs onto railway land at the rear boundary. He says its attractiveness as a development site is enhanced by its relatively unobstructed location which would provide sunny outlooks over The Domain to the west and central city to the northwest. “Also if the proposed Parnell railway station, which would be located on adjoining land, came to fruition then an increase in demand could also be expected for surrounding residential and commercial premises.” 
Pittaway says there has been plenty of recent development around the site which is ongoing.  Neighbouring properties encompass apartments and a number of commercial premises, including showrooms, office accommodation and professional suites.

“The site is within easy walking distance of the Parnell shops which include a number of cafes, restaurants and bars.”  It is also very close to the Auckland CBD and to on-off links to the State Highway One north-south motorway and the SH16 north western motorway via the Stanley Street interchange. 

 

For more information on this property visit:

TrueCommercial.co.nz