New Lynn site suits high density
A 1.87 hectare site at 3094 Great North Rd, New Lynn, for many years the home of a clothing manufacturer, is on the market for sale.
The property originally developed for Cambridge Clothing — and still known as “the Cambridge site” — is being marketed by sole agents John Schellekens and John Holmes of CBRE. It will be for sale by way of Deadline Private Treaty, closing 4pm on October 21.
Schellekens, national director of structured transactions & advisory services at CBRE, says the property is surrounded by superb transport infrastructure and “perfectly placed to capitalise on the increasingly attractive urban lifestyle offer of New Lynn”.
“It i s zoned as ‘ Metropolitan Centre’ under the Auckland Unitary Plan and earmarked for high density development, offering a range of options for developers, with scope for a master- planned, mixed use project.”
He points out that it has a passing rental of $ 500,000 pa ( expiring June next year) and potential buyers could acquire and develop the property, or they could acquire it, enjoy the holding rental until June next year, then release and hold the land for development in the future.
“The site and zoning offer potential for a mixed- use project with potential to develop buildings up to around 20- storeys. Two indicative development massing concepts are presented in the site’s Information Memorandum: a lower density, downscaled project and a high density ‘ high rise’ project that maximises de- velopment envelope created.
“Ultimately it will be up to prospective buyers to make the most of this valuable opportunity in New Lynn, one of Auckland’s hottest metropolitan centres right now.”
Located in central New Lynn, on the corner of Clark St and with its own separate access road on Cambridge Lane, the 3094 Great North Rd site is within 500m of LynnMall, the library, gym and transport interchange.
The site was first developed in the late 1950s for clothing manufacturer Cambridge Clothing, with operations including cutting, sewing and pressing of garments prior to dispatch to retail outlets.
Manufacturing at the site ceased in 2013, and it i s now used for warehousing purposes only.
While the total site area is around 1.87ha, there is a Significant Ecological area, encompassing a small stream, and this reduces the developable area down to around 1.4 to 1.5 hectares.
The main warehouse area is split into three main bays with a part mezzanine office, a workshop and lean- to/ ancillary structures with a total gross floor area of around 6500sq m. Holmes says with a large building envelope and the ability to build up to 72.5m, intensive use would suit the council’s plan to encourage higher density quality housing in Auckland’s town centres.
“New Lynn has experienced phenomenal investor interest in recent years with the suburb and connectivity of its town centre making it an attractive new Metropolitan Centre location,” he says.