Rare flat land for development

9:43 AM Wednesday October 1, 2014 Colin Taylor

An elevated view of the two land parcels for sale, marked by a red border.

Potential purchasers would be well advised to seek to acquire both Takanini parcels in one transaction.

Two flat bare land parcels of 1ha and 2.7ha suitable for a range of uses, including retirement village, commercial and residential purposes, are for sale at the heart of the Addison residential community in Takanini south of Auckland offering a prime development opportunity.

Addison is a 1300-home planned development, encompassing comprehensive and integrated design of street layouts, public space, landscaping and houses.

Located 400m from the Takanini Village and 3km from Papakura township, the development has been recognised by the Ministry for the Environment as an example of "best practice urban design".

The land blocks for sale at 31 Airfield Rd occupy a corner site at the intersection of Porchester Rd and Airfield Rd and are being offered for sale through expressions of interest via the owner McConnell Property.

Rachelle Raw, McConnell Property's development manager for Addison, says the land parcels are zoned as Neighbourhood Centre Development, allowing up to 10,000 metres gross floor area.

The zoning covers retail and commercial development that caters to the daily needs of residents, and can also include upper level residential developments. Corner stores, health clinics, beauty clinics, and small shopping developments are regarded as neighbourhood amenities that generate high foot and vehicular traffic.

"This is a sizeable area offering multiple options for development," Raw says.

"Potential purchasers would be well advised to seek to acquire both parcels in one transaction for the best development outcome. This would give the buyer the ability to develop and shape two key properties within the Addison community that would be an ideal outcome as far as a maximised return goes."

Raw says the two land parcels are being offered at a time when the supply of developable land in high growth areas of Auckland is scarce while the demand for "blank canvas" development projects is skyrocketing.

"Sitting within the master-planned Addison community these two land parcels are flat, rectangular sites that would be perfectly suited to a range of buildings," she says. "Already 800 homes have been built or are under construction and a further 500 homes are planned in the next stages of Addison, so it is a lucrative catchment area for an astute investor and/or developer.

"Addison's high growth catchment area consists largely of middle income families, with many first-home buyers and, as a design-led housing area, Addison homes command higher values in comparison to other homes in the area. With so many homes sprouting up in the area, developers and investors will see the value in delivering wrap-around services residents need like local dairies, a post office, pharmacies, cafes, restaurants, lunch bars and other retail outlets."

Raw says the two high-profile sites front Porchester Rd which has a traffic count of 15,000 a day. Raw says McConnell Property expects to get the titles for the two parcels in May 2015.

"Full resource and building consents are required which means there are a range of options for interested purchasers.

"Depending on what an incoming developer does with the land and how the development is staged, they could be looking at getting a return within 18 months."

What's on offer?

The property: 2 land blocks of 1ha and 2.7ha
Location: 31 Airfield Rd, Takanini
Vendor: McConnell Property
Sales method: Expressions of interest
Features:
• Flat rectangular shaped sites.
• Suitable for retirement village, commercial, residential projects.
• Within Addison residential community.
• Zoned Neighbourhood Centre Development.
• 400 metres from Takanini Village.

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