Student digs with future potential
A substantial and under-developed landholding housing a student accommodation complex in a West Auckland growth node is attracting interest from developers eyeing their prospects for the new year, Bayleys salespeople say.
The freehold parcel comprising 4789sq m in seven titles at 65 Swanson Rd is strategically located near the Henderson Town Centre, opposite the Sturges Rd transport hub.
Bayleys Northwest associate director of development land and sales, Wesley Gerber, says the properties are notably underdeveloped, offering significant opportunity for a new owner.
“Single-level existing buildings could be redeveloped to take advantage of the intensive Terraced Housing and Apartment Buildings zone, which provides for 50 per cent site coverage to a maximum build height of 16m, promoting an array of intensive development choices.
“The property’s flat contour and dual street frontage are also attractive, offering flexibility for the purchaser to maintain the property as accommodation, generate income from the existing buildings and amenities, or explore development.”
The site has a significant frontage of around 75m to Swanson Rd with a dual profile to Papatahi Place, a cul de sac to the rear of the property.
Gerber is marketing the property with
Bayleys colleagues Craig Smith and Cameron Melhuish. Expressions of interest close on Thursday March 7 unless sold prior.
The property was purpose-built in 1988 as a 21-room motel with conference facilities, commercial kitchen, restaurant, on-site parking and three-bedroom live-in manager’s flat.
After acquiring the property in 2021 the current owner undertook refurbishment works, converting the premises for use as its Auckland International College halls of residence, a consented and fully-equipped student accommodation complex licensed for 63 boarders.
Bayleys Northwest director of commercial, industrial and land opportunities, Craig Smith, says the property is now surplus to
the international vendor’s requirements and is offered with vacant possession, allowing purchasers to explore the continuing use as accommodation.
“Auckland has a large and well-publicised housing deficit and rental property shortage exacerbated by recent multi-decade high migration. The anticipation of continued population growth and the government’s desire to provide affordable accommodation underpins the demand for multi-unit residential offerings.
“The new owner will have the opportunity to potentially blend different lodgings at the site to leverage density controls, current appetite for housing options, and a highgrowth location.”