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Lots for sale in boutique subdivision tipped for medium-density housing

Tags: Commercial

Three fully-serviced lots for sale in a boutique South Auckland residential subdivision are tipped to give rise to a new medium-density housing development.

The three lots totalling more than 2,200 square metres of freehold land in the established residential suburb of Favona are zoned for residential intensification. They lie within an area which has seen a number of residential developments in recent years as it is increasingly sought-after among families seeking affordable housing.

Lots 3, 4 and 5 at 1 Bukem Place, Favona, are now being marketed for sale together or individually by way of a tender closing on 16 March (unless sold prior), through Bayleys Real Estate.

Directors of Bayleys’ Auckland City and Fringe team, Ian McGowan and Alan Haydock, said a total of 2,219 square metres of land was being offered for sale. This was made up of lots with areas of 909 square metres, 656 square metres and 654 square metres respectively.

“Situated down a right-of-way, these three adjoining freehold lots are part of a recently completed boutique subdivision of five lots,” said Mr McGowan.

“The lots have shared ownership of the right-of-way. Individual certificates of title are due to be issued imminently and all sites are serviced and ready to build on – with all mains services reticulated to the lot boundaries.”

Mr McGowan said the sites were essentially level and would lend themselves to medium to high-density housing, such as townhouses, terrace housing or perhaps low-rise apartment buildings.

“The flat contour of the land for sale allows for ease of development and, with the lots being fully serviced, much of the hard initial work is already done,” he said.

The land is zoned Residential – Mixed Housing Urban under Auckland Council’s unitary plan.

Mr Haydock said this zoning permitted higher density residential development to a height of up to 11 metres.

“Situated on the southern side of Bukem Place, these sites sit within an established residential neighbourhood. They are immediately surrounded predominantly by low density housing, meaning any new development will be set within a quiet residential precinct,” Mr Haydock said.

Favona is mainly characterised by family homes, with the addition more recently of medium-density unit developments as this market has continued to show strength.

“The area has become more sought-after in recent times due to the ongoing demand for affordable housing. As such, it is a key growth location for residential accommodation in South Auckland,” said Mr Haydock.

“Situated just south of Mangere Bridge, this location is also popular for its surrounding amenities. The employment hubs of Onehunga, Penrose and Mt Wellington are a short drive away, and the area is well served with local schooling options. It is a short distance from Middlemore Hospital and just a few kilometres from Auckland Airport.”

Favona also offered easy access to the Southwestern Motorway which provided a convenient link to Auckland’s central business district, about 25 minutes’ drive away, Mr Haydock said.

Click here for more information on the property.

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