Weekend Herald

Col­lege Hill site ripe for res­i­den­tial de­vel­op­ment

- Business · Urbanism · Auckland Region · Colliers International · New Zealand · New World · Dublin · Herne Bay · United States of America · Wynyard · Herne · Grey Lynn · City Link · Coburn, West Virginia · James Coburn

St Marys Bay site of­fers stun­ning views and pre­mium hous­ing con­sent

An el­e­vated city fringe de­vel­op­ment site at the top of Col­lege Hill, with stun­ning views across the Auck­land CBD sky­line, is for sale as a fully con­sented op­por­tu­nity to de­liver a pres­ti­gious res­i­den­tial pro­ject in the fash­ion­able and vi­brant sub­urb of St Marys Bay.

Lo­cated on a 2,364sq m par­cel of free­hold land, 99 Col­lege Hill has split zon­ing and a well- ex­e­cuted re­source con­sent al­low­ing for the de­vel­op­ment of 49 pre­mium apart­ments and ter­race houses.

It i s of­fered for sale as a fully cleared, ready to de­velop ‘ blank can­vas’ at a time when shovel- ready res­i­den­tial land is in huge de­mand.

Buy­ers have been scoop­ing up huge tracts of de­vel­op­ment land across Auck­land in re­cent months, with Col­liers In­ter­na­tional alone sell­ing more than $ 350 mil­lion since the first Covid- 19 lock­down.

Col­liers In­ter­na­tional’s spe­cial­ist Cap­i­tal Mar­kets and Site Sales teams have been ex­clu­sively ap­pointed to of­fer 99 Col­lege Hill to the mar­ket.

It i s for sale by in­ter­na­tional ex­pres­sions of in­ter­est clos­ing at 4pm on Wed­nes­day 11 Novem­ber, un­less sold prior.

Richard Kirke, In­ter­na­tional In­vest­ment Direc­tor at Col­liers, says he ex­pects strong in­ter­est in 99 Col­lege Hill from a range of lo­cal and in­ter­na­tional par­ties.

“New Zealand re­mains an at­trac­tive in­vest­ment lo­ca­tion for off­shore cap­i­tal, par­tic­u­larly as low in­ter­est rates con­tinue to bring down the cost of bor­row­ing.

“Our Covid- 19 re­sponse is also a plus for in­vestors, with many view­ing New Zealand as a safe haven in the con­text of a tur­bu­lent global en­vi­ron­ment.

“While the eco­nomic im­pacts of Covid- 19 on New Zealand will be felt for some time, there are promis­ing signs of buoy­ancy in the res­i­den­tial prop­erty and con­struc­tion sec­tors.

“New de­vel­op­ment is con­tin­u­ing apace, with the con­struc­tion sec­tor able to de­liver at all but the high­est Covid alert level.

“This pro­vides a safe­guard for de­vel­op­ers seek­ing op­por­tu­ni­ties in the cur­rent mar­ket.”

Cap­i­tal Mar­kets Direc­tor Blair Peter ken says it is a tro­phy land­hold­ing that will have huge ap­peal for de­vel­op­ers and land bankers alike.

“This is an un­matched op­por­tu­nity to un­lock the po­ten­tial of a strate­gi­cally lo­cated res­i­den­tial de­vel­op­ment site in one of Auck­land’s most sought- af­ter ar­eas.

“The prop­erty is su­perbly lo­cated only 100m from Pon­sonby and Jer­vois Roads, right on the doorstep of Three Lamps vil­lage and all the amenity of the city cen­tre.

“It is within easy walk­ing dis­tance of Wyn­yard Quar­ter, the Viaduct and nu­mer­ous beaches, as well as the New World su­per­mar­ket and Pon­sonby’s abun­dant re­tail and hos­pi­tal­ity op­tions.

“The site is ide­ally suited to a pre­mium res­i­den­tial de­vel­op­ment that will max­imise its un­par­al­leled lo­ca­tion and un­in­ter­rupted views of Auck­land’s CBD sky­line.

“Prop­er­ties in this area are in­cred­i­bly tightly held — par­tic­u­larly as­sets of this mag­ni­tude, of which very few trans­act.

“This is un­doubt­edly the premier city fringe de­vel­op­ment op­por­tu­nity of 2020.”

The site has dual ac­cess to Col­lege Hill to the south and Dublin Street to the north, with split zon­ing al­low­ing for vary­ing ty­pogra­phies across the site.

The re­source con­sent pro­vides for 32 dwellings across two sep­a­rate fourlevel build­ings fronting Col­lege Hill, with the re­main­ing 17 dwellings to­wards Dublin Street.

Col­lege Hill pro­vides a key link be­tween Auck­land’s city cen­tre and the af­flu­ent res­i­den­tial sub­urbs of Pon­sonby, St Marys Bay, Herne Bay, Free­mans Bay and Grey Lynn.

It is well served by pub­lic trans­port, in­clud­ing reg­u­lar City Link bus ser­vices, and easy ac­cess to Auck­land’s mo­tor­ways in all di­rec­tions.

Pon­sonby i s con­sid­ered one of Auck­land’s top fash­ion and en­ter­tain­ment hot spots, and is pop­u­lar with high net worth in­di­vid­u­als and cre­ative en­trepreneur­s. Nearby Wyn­yard Quar­ter is a fast- de­vel­op­ing hub of eater­ies, en­ter­tain­ment and of­fices that i s set to be­come the thriv­ing heart of the Amer­ica’s Cup.

Josh Coburn, Site Sales Direc­tor at Col­liers, says the prop­erty for sale ben­e­fits from a com­ple­men­tary mix of zon­ing and ex­ten­sive pre­de­vel­op­ment work by the ven­dor.

“The Col­lege Hill frontage is zoned Busi­ness Mixed Use, al­low­ing for de­vel­op­ment up to 18m in height.

“A va­ri­ety of uses is per­mit­ted in­clud­ing res­i­den­tial, re­tail and com­mer­cial.

“The con­sented plans for the Col­lege Hill end of the site pro­vide for 31 two- be­d­room apart­ments, a sin­gle one- be­d­room apart­ment and 30 car parks. The land fronting Dublin Street is zoned Res­i­den­tial Sin­gle House. The con­sented plans pro­vide for seven t wo- be­d­room dwellings, 10 one- be­d­room dwellings and 32 car parks.”

The re­source con­sent has been ex­tended from the orig­i­nal ap­pli­ca­tion and is now valid through to Novem­ber 2026.

Coburn says res­i­den­tial prop­erty, and land in par­tic­u­lar, is seen as a re­silient in­vest­ment in times of eco­nomic un­cer­tainty, with buy­ers flock­ing to sites of scale, and more no­tably sites of pres­tige and rar­ity, such as Col­lege Hill. “The com­bi­na­tion of strong de­mand for hous­ing, pos­i­tive mar­ket sen­ti­ment, and good con­struc­tion sec­tor ca­pac­ity, make this an ideal time to buy de­vel­op­ment land.

“The site for sale at 99 Col­lege Hill also pro­vides the added ben­e­fit of a well- con­sid­ered site plan with a longterm re­source con­sent in place.

“This is a truly one of a kind op­por­tu­nity to de­velop a pre­mium res­i­den­tial pro­ject in one of Auck­land’s most af­flu­ent and well- con­nected neigh­bour­hoods.”

 ??  ?? The prop­erty at 99 Col­lege Hill of­fers buy­ers the chance to build a high- end res­i­den­tial de­vel­op­ment in a high- de­mand lo­ca­tion.
The prop­erty at 99 Col­lege Hill of­fers buy­ers the chance to build a high- end res­i­den­tial de­vel­op­ment in a high- de­mand lo­ca­tion.

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