One of the largest undeveloped landholdings in Albany’s town centre has been brought to market, offering a strategic opportunity for developers and future-focused investors to secure a prominent foothold in one of Auckland’s fastest-growing metropolitan hubs.

Bayleys Auckland Metro director Tommy Zhang is marketing the freehold 1.06ha (more or less) site at 7 Elliott Rose Avenue for sale by tender, closing at 4:00 pm on Thursday, 3rd July 2025 (unless sold prior), alongside colleague Michael Nees.

Zhang says the site is in a high-profile corner position with extensive frontage to Cornerstone Drive, Elliott Rose Avenue, and Kaipiho Lane, placing it at the heart of Albany’s key commercial precinct – one of New Zealand’s most rapidly evolving urban centres.

“The land is currently fully leased to Wilson Parking New Zealand, generating a net holding income of $75,000 plus GST pa. The lease, which commenced in January 2024, includes renewal rights through to 2035, and features a 12 month termination clause, offering income security while preserving flexibility for near-term development.

“Favourable zoning, Business – Metropolitan Centre, enables a wide range of future uses including high-density residential, commercial, civic, and mixed-use projects up to 72.5m in height – the most intensive planning framework outside Auckland’s city centre.”

“This is a true ‘scale-and-location’ play. Large, regular-shaped sites of this nature, in high-growth urban environments with flexible zoning, are rare, and the opportunity affords buyers a chance to unlock value in one of Auckland’s key metropolitan nodes,” Zhang says.

The land features council-maintained pedestrian walkways, street visibility, natural fall for efficient drainage and design flexibility. It currently accommodates 350 car parks, and has dual street access, supporting staging or multi-phase development.

Bayleys North Shore Commercial associate director Michael Nees says that over the past 30 years, Albany has transformed from a semi-rural outpost into the region’s most established suburban central business district.

“Driven by strategic infrastructure investments, including the extension of the Northern Motorway, the development of the Park & Ride bus station, and significant retail anchors including Westfield Albany and Albany Mega Centre, Albany has become a key destination for lifestyle, education, and commerce.

“The establishment of Massey University’s Albany campus, coupled with ongoing high-density housing developments and improved public transport connectivity, has reinforced Albany’s status as a self-sustaining urban centre. Today, it plays a vital role in the broader region’s metropolitan area, supporting population growth on the North Shore with a diversified local economy.

“Demand is shifting north. Investors are seeking to align themselves with areas that are supported by favourable zoning, connectivity, and proven demand. Albany meets those criteria, and this site, in particular, stands out for its future potential and immediate income.

“With few large-scale landholdings remaining undeveloped in central Albany, this offering is expected to generate strong interest from parties with an eye for strategic urban growth, particularly as demand for high-density, amenity-rich environments, well-serviced by existing infrastructure, continues to rise.