Prominent Panmure corner site with holding income
An outstanding opportunity to secure a substantial 4,970sqm (more or less) freehold corner site in a highly strategic Panmure location, immediately beside Panmure Train and Bus Station and metres from the town centre.
Combining scale, prominence, holding income and future development potential, the property is currently leased to an established car dealership returning $250,000 pa + GST + OPEX.
Key considerations
• 4,970sqm (more or less) freehold corner site across two titles with prominent Ireland Road and Lagoon Drive frontage
• Business - Town Centre Zone, immediately beside Panmure Train and Bus Station
• $250,000pa + GST net holding income with lease commitments to 2034
• Redevelopment clause exercisable in 2028
• Previously consented for 114 apartments, four retail units and 75 carparks
• Strong future development and landbanking potential within the Tamaki regeneration and AMETI transport corridor
• Combined Capital Value: $10,100,000 as of 1 May 2024
The property occupies a highly visible corner within Panmure's established town centre, connecting Mount Wellington, Glen Innes, Pakuranga and the wider eastern Auckland catchment. Its immediate proximity to public transport provides excellent connectivity, with Panmure Town Centre, Sylvia Park Shopping Centre, State Highway 1 and Auckland CBD all within easy reach.
The property was previously consented for a four-story mixed-use development comprising 114 apartments, four retail units and 75 carparks, providing a useful indication of the site's development potential.
Large-scale freehold sites in established Auckland town centres are tightly held. This property presents a rare combination of land scale, prominent positioning, holding income and long-term development potential.
4 Ireland Road & 7 Lagoon Drive offers the opportunity to secure a strategic Panmure landholding with multiple options for the future.
Comprehensive due diligence information is available on request through the sole agent.
Tommy Zhang
+64 21 760 889
tommy.zhang@bayleys.co.nz
Combining scale, prominence, holding income and future development potential, the property is currently leased to an established car dealership returning $250,000 pa + GST + OPEX.
Key considerations
• 4,970sqm (more or less) freehold corner site across two titles with prominent Ireland Road and Lagoon Drive frontage
• Business - Town Centre Zone, immediately beside Panmure Train and Bus Station
• $250,000pa + GST net holding income with lease commitments to 2034
• Redevelopment clause exercisable in 2028
• Previously consented for 114 apartments, four retail units and 75 carparks
• Strong future development and landbanking potential within the Tamaki regeneration and AMETI transport corridor
• Combined Capital Value: $10,100,000 as of 1 May 2024
The property occupies a highly visible corner within Panmure's established town centre, connecting Mount Wellington, Glen Innes, Pakuranga and the wider eastern Auckland catchment. Its immediate proximity to public transport provides excellent connectivity, with Panmure Town Centre, Sylvia Park Shopping Centre, State Highway 1 and Auckland CBD all within easy reach.
The property was previously consented for a four-story mixed-use development comprising 114 apartments, four retail units and 75 carparks, providing a useful indication of the site's development potential.
Large-scale freehold sites in established Auckland town centres are tightly held. This property presents a rare combination of land scale, prominent positioning, holding income and long-term development potential.
4 Ireland Road & 7 Lagoon Drive offers the opportunity to secure a strategic Panmure landholding with multiple options for the future.
Comprehensive due diligence information is available on request through the sole agent.
Tommy Zhang
+64 21 760 889
tommy.zhang@bayleys.co.nz
Key features
Zoning
Business – Town Centre Zone
Land area breakdown
4,970sqm corner site
Location
Prime location, just metres from the town centre and within easy walking distance of the Panmure Train and Bus Station
