Takapuna's next apartment development
Situated on Auckland's North Shore, 402 - 408 Lake Road presents to the market Takapuna's next premium development site.
A 1,104sqm combined holding over two freehold properties, this site represents a rare opportunity to purchase a development site with efficient scale in this location and on the Eastern side of Lake Road. This position will maximise viewshafts from the upper floors of a developed product particularly the easterly aspect looking out over Takapuna Beach and the Hauraki Gulf with occupants being able to walk to the beach without crossing any roads.
Zoned Business-Mixed Use with further upside under plan change 78 being within a walkable catchment from Takapuna Central, the site is primed for a boutique apartment development synergistic with the demand from affluent downsizer's already located in Takapuna looking for high end "lock up and leave" dwellings. An existing vehicle crossing of Sanders Avenue and construction access from this street provide sound development fundamentals.
The vendor is in a position to offer vendor finance to bridge any purchaser into an acquisition, this will be a sought-after offering given the scarcity of sites of this nature.
A 1,104sqm combined holding over two freehold properties, this site represents a rare opportunity to purchase a development site with efficient scale in this location and on the Eastern side of Lake Road. This position will maximise viewshafts from the upper floors of a developed product particularly the easterly aspect looking out over Takapuna Beach and the Hauraki Gulf with occupants being able to walk to the beach without crossing any roads.
Zoned Business-Mixed Use with further upside under plan change 78 being within a walkable catchment from Takapuna Central, the site is primed for a boutique apartment development synergistic with the demand from affluent downsizer's already located in Takapuna looking for high end "lock up and leave" dwellings. An existing vehicle crossing of Sanders Avenue and construction access from this street provide sound development fundamentals.
The vendor is in a position to offer vendor finance to bridge any purchaser into an acquisition, this will be a sought-after offering given the scarcity of sites of this nature.
Key features
Zoning
Business – Mixed Use zone
Land area breakdown
Combined land area of 1,104sqm (more or less)
Location
The property holds a dominant corner position at the intersection of Lake Road and Sanders Avenue.
Opportunity
Holding income of circa $100,000pa + GST
Need help with finance?
Vega is Bayleys’ preferred finance adviser for business, providing advice services across residential, business, property development, commercial lending and insurance.