Family portfolio for sale spans prime city sites
A family trust’s move to sell three prime freehold sites in central Auckland suburbs opens a realm of possibilities for property developers, land bankers and add-value investors.
The portfolio spans a former Herne Bay motel with income from investment flats and potential to add value, a Meadowbank village centre site housing Auckland Council which is ripe for a multi-level mixed-use project, and an Onehunga residential section with a large house and intensive redevelopment options.
“Underpinning the value of each site is their position in high-profile, high-growth and tightly held Auckland locations,” said James Chan, head of Bayleys’ international sales division. “The ability to buy all three gives new owners the chance to capitalise on diversified options and a good geographical spread of central suburbs.”
213 Jervois Rd (Herne Bay), 25 St Johns Rd (Meadowbank) and 7 Trafalgar St (Onehunga) are for sale through Chan and Bayleys colleagues Owen Ding and Karen Yung. They will be sold together or separately by international tender closing Friday May 10, unless sold prior.
The approximately 996sq m landholding at
underpins 546sq m of buildings. The former Seabreeze Motel encompasses 11 self-contained flats, including studios and one and two-bedroom units. The property generates a gross annual income of $246,257 including GST.
Ding said with dual access from Jervois Rd and Masons Ave, this generous, flat landholding offered attractive possibilities for expansion and adding value, or for land banking.
is an approximately 908sq m site at the corner of St Johns Rd and Lavender Crescent, Meadowbank. Auckland Council’s O¯ ra¯kei Local Board occupies the 231sq m singlestorey building on a current lease that runs through to May 2025, generating a net annual rental return of approximately $111,322 plus outgoings and GST.
Chan said the existing premises offered a proven source of income for passive investors, while there were also attractive options to add value, rebuild or develop.
With more than 1421sq m of freehold land, the elevated, flat corner property at 7 Trafalgar St, Onehunga, is ripe for residential development or strategic land banking. The site contains a five-bedroom, three-bathroom home of 314sq m with three to four living areas. The house has been approved for demolition.