The vacant freehold site in Eden Terrace is being promoted as an affordable opportunity to develop or landbank property close to the CBD and vital transport links including the future City Rail Link (CRL) station at Mt Eden.
Positioned at the corner of France and Randolph streets, the offering lies in the heart of an area which is being transformed by new residential and commercial property developments.
The freehold land at 73 France Street, Eden Terrace, Auckland, is now being marketed for sale by tender closing on Wednesday 9 March (unless sold prior), through Bayleys Auckland Central.
Salespeople James Were, Ben Wallace and Phil Haydock said the approximately 238 square metres of vacant land represented a rare opportunity to secure a site ready for “immediate development” in the tightly held precinct.
The site’s sought-after Business – Mixed Use zoning under the Auckland Unitary Plan provides for intensive residential development, along with mostly smaller scale commercial uses such as offices, retail, food and beverage and healthcare.
“The France Street property comes with an attractive allowable building height of up to 32.5 metres, subject to consent – significantly higher than the 18 metres usually allowed in the Business – Mixed Use zone,” said Were.
A concept design for an eight-level apartment complex is available to potential buyers.
Were said the area’s development potential had been demonstrated by a number of successful recent projects.
“Eden Terrace is an increasingly popular growth hub on the city fringe. The area surrounding the France Street property includes low to medium rise commercial office and apartment buildings from the 1980s through to the early 2000s.
“In recent years it has become a prominent residential location thanks to numerous projects, including the neighbouring 59 France luxury apartment complex developed by Urban Collective in association with Paul Brown Architects. Further apartment complexes are under construction,” said Were.
Wallace said any future development at the France Street site would benefit from its strategic location on the edge of the CBD and a short distance from motorways and major public transport routes.
“It is also handy to major city amenities including the University of Auckland, Auckland City Hospital and the Domain.
“Ponsonby Road, Karangahape Road, Mt Eden and the Newmarket retail and hospitality precincts are within easy reach and Symonds Street, with its range of retail including popular cafes, is just a short walk away,” said Wallace.
Haydock said the CRL, once completed, would add further to the area’s advantages.
“Extending from downtown Auckland up to the western line through Newton and Eden Terrace, the CRL will greatly boost rail passenger capacity and connections with the CBD and across the region.
“With its proximity to the CBD, other city fringe suburbs and major transport links, plus the intensification of an already flexible zoning, this location is likely to continue to grow both commercially and residentially,” Haydock said.