Exclusive private school on the market
One of Auckland’s most exclusive private schools is selling its land and buildings in Remuera.
The Saint Kentigern Girls’ School property, currently valued at $23 million, is a big chunk of land – 1.24 hectares, equivalent to three acres – on the northern slopes of one of Auckland’s most affluent suburbs.
The buildings included classrooms, science and technology blocks, a preschool, a two-level villa and an assembly hall.
They ranged in age from the original homestead in the centre of the site, built about 90 years ago, to the art block, constructed in 2001.
The site also had a large swimming pool with changing sheds, a tennis court and open spaces.
In 2018 Remuera had a median house price of $1.7m.
Saint Kentigern plans to shift its girls’ school for up to year 8 and preschool for girls and boys from years 3 to 4 to new purpose-built buildings within the campus of Saint Kentigern Boys’ School on Shore Rd in Remuera, in 2022 and early 2023 respectively.
Saint Kentigern College, for pupils from years 7 to 13, was in the thick of controversy last year over its policy of recruiting students for its first XV rugby team from outside Auckland.
The site was also near other private schools such as Saint Kentigern Boys’ School, Baradene, St Cuthbert’s, Diocesan, King’s School and Dilworth.
The challenge for a new owner is to secure a plan change from the Auckland Council to develop the high-profile site for residential dwellings, apartments or for a retirement village or private hospital.
The 514 Remuera Rd site is zoned ‘‘special purpose school’’. None of the buildings were heritage listed.
Property marketer Colliers International said it had received strong interest from residential developers and retirement village operators, and from international parties. Colliers’ capital markets director, Blair Peterken, said it was not only rare for a school site and buildings to be put up for sale, but also for the scale of the land and buildings to become available in a premier Auckland suburb.
Peterken said residential developers were showing interest in developing medium-density housing on the site.
That could be single-level or terraced housing on the borders, and five- to six-level apartment buildings in the middle.
‘‘But whoever buys it would have to go through a plan change,’’ Peterken said.
It could be a lengthy process, but he said because the girls’ school was not vacating until the end of 2022 and the pre-school until early 2023, there was time available for a new owner to go through it.
Any rezoning would need to take account of the local environment, which was typified by terrace and apartment buildings, single dwellings and special-character housing.
Peterken expected neighbours of the school would have to be consulted for a plan change.
A new owner could redevelop the buildings or the whole site. It had two street frontages and included five freehold titles.
The deal could be a lease-back where a new owner leased back the land and buildings to the St Kentigern Trust Board until the new school buildings were completed, Peterken said.
The suburb had many cafes, restaurants and boutique retailers, and was served by supermarkets in Remuera, Greenlane and Meadowbank.
It was convenient to the retail hot spot of Newmarket, where the largest Westfield shopping centre in the southern hemisphere was being redeveloped with a David Jones department store.
Offers for the property to the owner, Saint Kentigern Trust Board, were due on March 27.