Grey Lynn development site
Asite for sale in the affluent city-fringe Auckland suburb of Grey Lynn has resource consent for a sixlevel apartment and retail development with draft plans to alter to a hotel or short-term accommodation facility.
“This is a prime elevated site in the heart of one of Auckland's fastestgrowing and trendiest suburbs,” says Reese Barragar of Barfoot & Thompson Commercial who, with colleague Nick Wilson, is marketing 252-258 Great North Rd for sale by tender closing 2pm next Tuesday, June 12.
The freehold Mixed-Use zoned property totals 1002sq m, made up of two fee simple lots of 435sq m and 567sq m with the zoning permitting structures up to 18m in height.
The relatively flat, rectangular site with a gentle slope to the rear has a frontage to Great North Rd of about 28m and an average depth of around 36m.
“An old funeral home occupies the site and the vendor is using it as an office,” Barragar says. “This singlelevel building with 13 car parks will be sold with vacant possession or short-term leaseback by negotiation.”
The proposed six-level development on the site envisages a ground floor retail/commercial unit and 37 apartments comprising a mix of studio, two-bed and three-bed units with 39 onsite car parks.
The consented complex would have 173sq m of retail/commercial space, 3189sq m of apartments, 630sq m of common area, 550sq m of decks and a basement area of 872sq m.
“This property is within walking distance of Ponsonby Rd with its wide array of amenities,” Barragar says. “It presents a committed developer with an excellent site ready for conversion to hotel use or short-term accommodation.”
Wilson says Grey Lynn has become an increasingly popular and sought-after city fringe suburb. “In recent years it has become a prominent residential location with boutique apartment developments completed, and further complexes under way.
“In addition to being only a few blocks from the Ponsonby Rd retail strip with numerous with top bars, cafes, restaurants and nightlife; it’s also a short distance from eclectic Karangahape Rd, with its contemporary art galleries, vintage clothing stores and numerous eateries offering a range of global cuisines.
“Great North Rd has frequent bus services to Auckland’s nearby CBD and has quick access to State Highway 1 and 16 motorway on/off ramps.”
Wilson says that, while the zoning permits a 16m occupiable height with 2m for roof, it should be noted that the proposed development maximises the height potential of the site.
“There are no floor-area ratios, with the bulk and scale of building controlled by the maximum height, the height in relation to boundary and set-backs from boundaries.”
He says permitted activities in the Mixed-Use zone include residential, offices, retail, food and beverage, entertainment and healthcare.
“The potential for this site is indicated by surrounding developments within a few blocks, including the 49-unit Crest Apartments under construction, the recently completed 27-unit Turin Apartments, 23-suite Dylan Apartment and 37-unit North Apartments.
“A new Bunnings store has also opened just up the road,” Wilson says.
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