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Westgate development site for sale amid surging demand for land

Contributor:
Fuseworks Media
Fuseworks Media

Surging demand for residential development land is expected to drive strong interest in a substantial greenfield site for sale at the gateway to fast-emerging Red Hills in Auckland’s growing northwest.

The 8.17ha property at 88 Fred Taylor Drive, Westgate, comprises a large, regular-shaped site with a generous mix of intensive residential zoning.

It is superbly located in a ‘shovel-ready’ hotspot of development, supported by advanced infrastructure and well- established local amenity.

Residential land has been in the spotlight since the onset of Covid-19, with the sector’s resilience driving a strong influx of enquiry from investors, developers and land bankers.

This has translated into buoyant sales activity, with numerous tracts of development land changing hands across Auckland in recent months.

Colliers International’s specialist Site Sales team alone has sold more than $335 million of land since the first lockdown.

Director Josh Coburn says demand has remained steady through the resurgence of Covid-19 in Auckland.

"Residential property, and land in particular, is seen as a resilient investment in times of economic uncertainty. This has kept demand buoyant.

"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.

"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 property for sale at 88 Fred Taylor Drive is located in the heart of Westgate, at the gateway to the 600ha emerging suburb of Red Hills.

It provides a combination of Terraced House and Apartment Building (THAB) and Mixed Housing Urban zoning, allowing for a number of development options.

The land will be sold with a bulk earthworks resource consent in place, but awaiting a developer’s identity to be stamped on the subdivision and land use consents.

Colliers International’s Site Sales team is marketing the site for sale by expressions of interest closing at 4pm on Thursday 15 October.

Coburn says it is a premium opportunity to purchase 8.17ha of prime Auckland development land.

"Westgate and its immediately surrounding suburbs have become established in the last five years as Auckland’s preeminent location for residential development.

"Land in this area has been scarcely available, and a recent surge in activity in the residential market will give both developers and land-bankers confidence that 88 Fred Taylor Drive is a superior offering to anything else available for sale right now."

Craig Smith, Associate Director of Site Sales at Colliers, says Westgate is a highly accessible western Auckland suburb only 20 minutes from the CBD.

"Westgate’s established residential and commercial precincts continue to grow as Auckland Council executes its plan for the area, which serves as the principle centre for the northwest community.

"The site for sale lies on the western boundary of the Westgate commercial precinct, which includes the Northwest Shopping Centre, Mitre 10 Mega, a new Bunnings, and the site of what will be New Zealand’s first Costco.

"The site’s direct neighbour to the south is Malbec - a new subdivision of 244 homes that is well under construction.

"Directly to the west is the emerging suburb of Red Hills - a 600ha area of residential zoned land that will eventually provide 20,000 new homes as well as schools, sports fields, reserves, shops and dining."

The property is located a mere five-minute drive to the on-ramps to State Highways 16 and 18. This forms part of the Western Ring Route, which provides motorway connections north, west and south.

The site provides 108m of frontage to Fred Taylor Drive and is bordered to the rear by the Ngongetepara Stream.

The land is regularly shaped and falls gently from east to west for about half of the site, requiring 1m or less of cut and fill to establish desired contours. There is a more substantial fall at the rear of the site towards the Ngongetepara Stream.

Some 30 per cent of the site is THAB zoned, which enables high-intensity terrace housing and apartment development of up to 16m in height.

The remainder is zoned Mixed Housing Urban, which essentially provides a transitional zone between the intensive road-front THAB zone and the sparse rural setting to the rear. This zoning provides for housing in a variety of sizes and forms, including detached dwellings, terraced housing and low-rise apartments.

The property is part of a Red Hills landowners consortium, which provides access to an interim bulk wastewater solution until the completion of Watercare’s Northern Interceptor project in 2026.

The Northern Interceptor, which will transport wastewater to the Rosedale treatment plant in Albany, is a key piece of infrastructure that will allow Red Hills to grow into a significant new community.

The vision for Red Hills’ residential zoned land is to create a neighbourhood with a strong sense of community, linked by a ‘blue and green’ network of waterways, walkways and cycle routes.

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