Versatile Glen Innes site ripe for redevelopment

A large town centre property ripe for redevelopment is up for sale offering scale, presence and flexibility in a pivotal location in Auckland’s Glen Innes.

The more than 2,200-square-metre freehold site on Apirana Avenue sits prominently amid big-brand outlets in the Glen Innes retail precinct with intensive zoning allowing a future multistorey redevelopment or repositioning project.

Versatile existing buildings of some 1,452 square metres house office, retail and warehouse areas suitable for a variety of occupiers. Most of the premises are currently owner-occupied, with one tenant providing a holding income with a redevelopment clause in their lease.

The property sits within an area identified for intensification and growth in the Business – Town Centre zone under Auckland’s unitary plan, with an allowed building height of 32.5 metres (subject to other council requirements).

Now on the market for the first time in over 40 years, 128 Apirana Avenue is expected to appeal widely to developers, owner-occupiers, investors, and strategic land bankers.

It is being offered to buyers by way of a tender closing on Tuesday 23 June (unless sold prior). The sale is being marketed by Jill Downie and Damien Bullick of Bayleys Auckland Central.

The property includes a large warehouse and well-presented office facilities. Adjoining these is a refurbished single-level building which could be used for office and/or retail operations, plus 17 on-site car parks.

Downie said wide street frontage gave it huge profile and exposure to passing traffic in a precinct that is home to around 150 businesses.

“Occupying a high-profile position on key retail arterial Apirana Avenue, this address is surrounded by national and international retailers such as PAK’nSAVE, VTNZ and Chemist Warehouse,” she said.

Town Centre zoning enables wide-ranging activities, from commercial and residential to tourist, leisure, cultural, community and civic services.

Downie said this zone was designed to provide a focus for commercial activities, typically in suburban centres on key roads with good public transport, which are identified for growth and intensification.

“Planning provisions allow for future construction of a multi-level complex, with the potential to incorporate retail/commercial premises fronting Apirana Avenue and apartments at higher levels,” she said.

The Apirana Avenue landholding backs on to the green space of Eastview Reserve, providing a direct connection to the walk and bike trail to Orakei Basin and is a short walk from Glen Innes train station, with its direct links to the city centre – heightening its long-term appeal for a residential project.

Bullick said new owners would benefit from an established location in Auckland’s eastern suburbs that is poised to evolve and improve further.

“This is one of Glen Innes’s most strategic locations, both residentially and commercially. The suburb is set to see strong growth, driven by high levels of public and private sector investment into its continued development.

“Glenn Innes offers an enviable level of amenity, making it popular with young professionals and families.

“This has been particularly evident since the implementation of the Auckland Unitary Plan, which has made the suburb a sought-after location for medium and high-density residential projects – successful examples of which can be seen near the address for sale,” Bullick said.