Albany landholding with development potential

A high-profile landholding that is prime for development in Albany on Auckland’s North Shore will hold considerable appeal for buyers looking for a prominent site for their next major project.

Located at 98 McClymonts Road, the site measures about 2.415ha and is zoned Business – Metropolitan Centre (Albany Centre, Sub-precinct) under the Auckland Unitary Plan. The zoning permits a development height of up to 72.5m.

The property has extensive frontage to the Northern Motorway, McClymonts Road, and Don McKinnon Drive, and is positioned for one of the most noteworthy developments in Albany.

Developers will have the opportunity to capitalise on the 1100 car parks across the road at the Auckland Transport Park and Ride, which gives the site unparalleled options for workers and residents.

Westfield Albany is in comfortable walking distance providing future occupants with access to a range of amenities and retail offerings.

Colliers directors Josh Coburn, Blair Peterken, Jimmy O’Brien and Alan McMahon have been exclusively appointed to market the site for sale and are taking expressions of interest with the deadline closing on Thursday, November 17, unless sold prior.

Coburn says the location of the site means there will be considerable demand for this offering.

“Property in the Albany basin is very rarely brought to the open market and this site represents one of the few remaining flexible use landholdings that offers significant profile.”

Peterken says the zoning of the property provides prospective purchasers with an array of options due to the generous height limit of 72.5m.

“The zone provides for a wide range of activities, including commercial, leisure, high-density residential, tourist, cultural, community, and civic services. Zone provisions, in conjunction with rules in the other business zones, reinforce metropolitan centres as locations for all scales of commercial activity. In addition to the Metropolitan Centre Zone, the site is located within the Albany Centre, Sub-precinct.”

O’Brien says Albany will play a key role in the continued growth of Auckland.

“Government spending on local infrastructure is unlocking opportunities and transforming the area,” O’Brien says.

McMahon says given the compelling aspects of this site, there will be strong demand in the market as buyers look to make the most of this asset.

“There is currently modest holding income available from the site, part of which is being used as a car park, giving the buyer time to strategically plan their future moves,” he says.