A property recalling the New Lynn’s early days as a centre for brick manufacturing is now on the market for sale.
The flat rectangular section at 52 Delta Ave, comprising 1,763sqm of lawn, is being sold by CBRE agents Brad Visser and Deborah Dowling by Deadline Private Treaty closing Tuesday 10 April 2018 at 4.00pm (unless sold prior).
Offered to the market for the first time in 14 years the 52 Delta Ave site is being described as the perfect affordable high-density development opportunity in rapidly growing New Lynn.
Whau Local Board member Derek Battersby believes the section to be a remnant of the former seven-acre (28,328sqm) block of land, which brickmasters Richard Ringrose and Alfred Bayes purchased from New Lynn pottery manufacturer James Wright in 1865.
“An historic brick house also stood on the brick masters’ property — but was removed some years ago. Unfortunately, there is little now to indicate how old the house was, or who lived in it, as rates records for New Lynn district only go back to the 1920s.”
Dowling says the site offers a highly desirable location in a quiet neighbourhood, while also benefiting from high-density zoning and the amenities that come with being “a mere stone’s throw from the thriving town centre”.
“With New Lynn becoming a highly sought-after area with strong growth and an influx of young families, this unique land parcel provides the perfect opportunity for any astute developer or land banker looking to take advantage of the area’s demographic transformation,” she adds.
“The exceptional site is earmarked for high density development and offers a range of options for developers, with scope for a master planned, mixed use project,” says Dowling.
The freehold site is development-ready, having a generous 32-metre frontage to Delta Ave ensuring ease of access and high profile to the street. Zoned as ‘Terrace Housing and Apartment Buildings’ (THAB) under the Auckland Unitary Plan, the site benefits from having the greatest density, height and scale of development of all the residential zones. This enables building up to five, six or seven storeys in identified Height Variation Control areas, to achieve a transition in height from the centre to lower scale residential zones, says Dowling.
A market-driven architectural scheme plan has been developed (subject to council consents), providing an indication of what’s possible on the site, she says.
“Strategically situated, the property is only 300 metres walk to New Lynn Train Station and the wide range of shops and entertainment/cinema options available at Lynn Mall and restaurant precinct, ‘The Brickworks’.
“With four primary schools within five-minutes-drive in addition to multiple childcare and medical centres nearby, the property benefits from well-established local amenities and ongoing commercial redevelopment.”
Dowling says at a time of limits on lending and capacity constraints in the construction market, the site goes a long way to reducing many of the development risks that can arise.
Phenomenal investor interest in recent years has made New Lynn an extremely attractive new city-fringe location, says Dowling.
“The current commute time via rail from New Lynn to the CBD is around 33 minutes and is expected to drop to around 26 minutes once the City Rail Link project is completed in 2020. Couple this with the fact more infrastructure is planned for cycling and walking, the area offers great connectivity. This has been largely driven by Council’s urban plan for New Lynn, which states that by 2030 it will be a unique, sustainable, urban place centred on a world-class transit interchange capable of attracting and maintaining a population of 20,000 residents and 14,000 workers.
“With vendors cashing up for retirement, now is the time to secure a rarely seen opportunity to develop a sought-after site with THAB zoning and capitalise on future plans for growth in this thriving metropolitan centre.”
ABOUT CBRE GROUP, INC.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com..
