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Large development opportunity in a key South Auckland growth hub - Colliers

Fuseworks Media
Fuseworks Media

A substantial 48.4ha development opportunity is for sale in one of Auckland’s key southern growth hubs, right next to State Highway 1 and opposite the emerging Drury South Crossing precinct.

The strategically located property at 1449 Great South Road, Ramarama, comprises a large tract of greenfield land that is well suited to land-banking or staged redevelopment.

Situated on a corner site right next to the SH1 interchange at Ramarama, the property is bounded by roads on three sides, with great visibility from the Southern Motorway immediately to the east.

It is directly across the motorway from the southern entrance to Stevenson’s Drury South Crossing precinct - a 361ha master-planned development that is set to become a hub of residential, commercial, industrial and retail activity.

The locality has attracted significant investment from prominent developers, including Kiwi Property, which have applied for plan changes to unlock the potential of their land.

The wider South Auckland area is the city’s largest future urban growth location, with about 5,300ha of land identified for urban development.

James Appleby, Site Sales Broker at Colliers International, says all this activity makes the property at 1449 Great South Road a highly strategic investment.

"This is a premium opportunity to purchase a substantial landholding in a major Auckland growth node, central to Ramarama’s ongoing development.

"The property provides more than 484,000sq m of Mixed Rural zoned land across 10 freehold titles, with a layout and location well suited to staged development.

"A new owner will benefit from holding income from a mix of rural and residential leases that generate a combined annual income in the order of $190,000. There is also scope to grow this income through a combination of re-leasing and staging any future development.

"Opportunities to secure landholdings of this scale in Auckland are exceedingly rare, making this a must- consider investment for astute investors, developers or land bankers."

Colliers International has been exclusively appointed to market the property for sale by expressions of interest closing at 4pm on Wednesday 11 November.

The property offers almost 1.8km of road frontage, made up of 708m to Great South Road; 655m to Ararimu Road, which connects Great South Road to the motorway; and 429m to Maher Road, which runs parallel and very close to the motorway.

Josh Coburn, Site Sales Director at Colliers, says the land’s Mixed Rural zoning provides for rural production and some non-residential uses.

"The zone generally covers smaller rural sites that often have a history of horticulture, viticulture, intensive farming and equine-related activities. These activities have, in turn, supported the establishment of produce sales or retail services such as cafes, restaurants, tourist and visitor-related facilities.

"A new owner could explore options to apply for a private plan change, which could allow further value to be unlocked. Prospective purchasers are encouraged to seek professional planning advice to make their own informed assessment of what might be possible."

Alan McMahon, Strategic Advisory Director at Colliers, says the land is well suited to land banking pending future redevelopment.

"Auckland’s rapid growth has made the city’s southern urban-rural fringe the focus of intense development and speculation in recent years.

"The Auckland Unitary Plan recognises the city’s southern fringe as key to its growth, with more than 42,000 new homes expected to be built in the area over the next 30 years.

"Both local and central governments have committed tens of millions of dollars to infrastructure spending in the Pukekohe, Karaka, Drury, Paerata and Pokeno areas."

Future developments planned for the area include:

1. Drury Centre Precinct, located on 95ha of Future Urban zoned land to the north of the property for sale. Owner Kiwi Property has applied for a plan change to rezone 35ha of Business Metropolitan Centre and 51.5ha to Business Mixed Use. A further 8.5ha adjoining the Hingaia Stream would be rezoned Open Space Informal Recreation.

2. Drury East Precinct, located on 184ha of Future Urban zoned land east of the Drury Centre Precinct. The owner has applied for a plan change to rezone the land to Residential Terrace Housing and Apartment Buildings.

3. Drury 2 Precinct, located on 33.65ha of Future Urban zoned land west of the Drury Centre Precinct. The owner has applied for a plan chance to rezone 15.29ha to Business Town Centre, 13.75ha to Residential Terrace Housing and Apartment Buildings, and 4.61ha to Residential Mixed Housing Urban.

4. Waihoehoe Precinct, located on 48.9ha of Future Urban zoned land north of Waihoehoe Road and the Drury Centre Precinct. The owner has applied for a plan change to rezone the land to Residential Terrace Housing and Apartment Buildings.

All four proposed plan changes would also introduce new precincts to the Auckland Unitary Plan to address issues including roading, building height, amenity-related standards, riparian strips and stormwater.

Appleby says the scale of these projects, and the immense infrastructures investment in the area, bodes well for the value of the Ramarama land for sale.

"This is an opportunity to buy now and develop later in one of Auckland’s most dynamic future hotspots."

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