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• 1,645sqm freehold development site with three street frontages
• Mixed Use zoning with 32.5m height allowance
• Proven location moments from the CBD and poised to benefit from the completion of the CRL
• First time on the market in over 50 years!
An unparalleled opportunity to acquire a truly prime city fringe development site with holding income in place.
Located in the suburb of Eden Terrace, adjacent to the CBD, it is one of Auckland's fastest growing locations and for good reason.
Auckland Council views the area as a important to the future growth of the city as it is within easy walking distance to the CBD and well-serviced by public transport, especially upon the opening of the nearby City Rail Link (CRL).
To encourage growth, the area had been designated with the 'Newton Height Variation Control' in the Auckland Unitary Plan. This grants land owners with a substantial advantage by extending the standard height allowance of the Mixed Use zone from 18 metres up to 32.5 metres.
Contained in four adjoining freehold titles, the opportunity comprises a total site area of 1,645sqm with frontages on to Karaka Street to the North, France Street to the East and Randolph Street South.
All developers, land bankers, and add-value investors must consider this strategic land holding, which is poised to take advantage of the continuing demand for quality city fringe accommodation.