Prime waterfront land goes on the market in mortgagee sale   13 Jul 2012

A strategically located corner site at the entrance to the heart of the Gulf Harbour retail and hospitality hub just north of Auckland has been placed on the market through a mortgagee sale process.

The three-lot bare land site totals approximately 1.5hectares at the headland to the canal around which Gulf Harbour’s main retail and residential blocks are located.

The land has three street frontages – including running alongside the main road into the town centre hub – and is the largest single piece of flat development land within the town centre precinct, which is governed by its own specific zoning policy.

In 2010 the Environment Court granted consent for intensive development on the 7,059 square metres of space – including apartments, offices, food and beverage outlet, library and supermarket. The consent can be taken up over the next six years and limits building height to a maximum of 12 metres.

The property block is now being marketed for mortgagee sale by Bayleys through salespeople Michael Pleciak and Ian Inglis – with tenders closing on July 26. Mr Pleciak said the three titles were being sold as one combined block or separate titles and had a 2011 combined capital valuation of $4million.

“Gulf Harbour is a long-term residential and lifestyle subdivision development which could be best described as currently being in its ‘teenage years’,” Mr Pleciak said.

“The opening of nearby Wentworth primary and high schools several years ago, along with members securing the future of Gulf Harbour Golf Course, have both gone some way to maturing the wider peninsula.

“Gradually over time, the surrounding residential developments throughout Gulf Harbour will continue to fill in, and will underpin commercial activity within the basin area.”

Mr Pleciak said part of the three titles was already sealed, delivering parking for approximately 102 cars using either the existing boutique lodge-style hotel, or for customers visiting the neighbouring food and beverage outlets.

“The population of Gulf Harbour is growing as bare land sites are converted to residential dwellings. With the planned Penlink roading trunk identified as a Government infrastructure project - thereby making Auckland more accessible for vehicular commuters - town planners are forecasting for growth at Gulf Harbour to continue at a steady pace.”

Mr Pleciak said that while some Gulf Harbour residents had indicated they would prefer to see the triangular corner site remain in its current open park state, the land’s value remained in what could be done on the location.

“One of the discretionary activities permitted for the site is the expansion of accommodation facilities. The Environment Court consent allows for the potential creation of an additional 191 accommodation units,” Mr Pleciak said.

“During the last Rugby World Cup, both the Japanese and South African rugby teams stayed in the nearby lodge at Gulf Harbour. The lodge is also popular as a weekend retreat for Aucklanders wanting to get out of the city within an easy hours drive.”

Plans already exist for the development of some 20 new retail outlets on the corner location, with a mid-sized supermarket taking out the ground level adjacent to the existing car parking facilities. Mr Pleciak said these plans could be made available to any potential purchaser.

“The Marine Village Town Centre Policy zoning directs that any activity is appropriate to the commercial, social and cultural needs of the Gulf Harbour community retail and marine environment to ensure that the aesthetics of any development are in harmony with the waterfront position,” Mr Pleciak said.

“The development proposal approved by the Environment Court identified such commercial activities as a crèche, doctor’s surgery, pharmacy, gymnasium, shops, offices, and more car parking.

“Landscaping concepts feature the installation of street furniture such as seating and planter boxes, pedestrian lighting, a water feature, pergola, and substantial vegetation planting of trees, shrubs and climbers.”

(Bayleys)

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