Property Description

• Bank substantial income while assessing options.
• Huge 5778sqm (approx) under-developed freehold site with 20m height limit under the identified growth corridor overlay.
• Two buildings producing $582,013.27 plus GST per annum.
• Split risk and add value opportunity.
• Fee simple estate, no body corporate
• Highly sought after in a tightly held growth location.
• Earthquake rating for all buildings Grade A +

This large 5778sqm land holding is situated on a busy corner site on the Wairau Valley's main arterial road and offers excellent future add-value possibilities.

The total holding income is made up of small to medium size businesses providing a split risk opportunity to all types of investors.

A new zoning overlay under the Auckland Unitary Plan adds more future development flexibility to the site than most other properties in the Wairau Valley. Multi story development up to 20m is permitted and the purpose of this new overlay is to provide additional opportunity for retail activities particularly large format retail, not typically provided for in the underlying Light Industry Zoning.

In the long term, a new owner could fully develop or stage develop the level rectangular corner site with its dual access. Alternatively the new owners could simply add value to the existing premises and tenant mix with the underlying land value also likely to keep increasing.