A substantial freehold property in Auckland's tightly held city fringe is being presented to the market for sale, offering purchasers an opportunity to secure an already consented site with existing holding income and future development potential.
Located at 3-11 Rendall Place in Eden Terrace, the landholding comprises 2,279sq m of space across four adjoining titles adjacent to Basque Park, just minutes from Auckland CBD.
The site currently generates approximately $91,200 plus GST in net annual rental income from a mix of office, warehouse, workspace, and parking tenancies, providing cashflow while future redevelopment plans are considered.
The existing buildings offer approximately 1,637sq m of total net lettable area and are well positioned across the site, allowing for efficient vehicle circulation while benefiting from substantial on-site car parking, a sought-after feature in Auckland's city fringe.
Start your property search
The asset has been granted a resource consent for a staged residential development which allows for the construction of 40 dwellings across a mix of terraced housing and apartment buildings.
Originally issued in 2020, the consent was extended by Auckland Council and now has a lapse date of May 2028, providing the new owner with flexibility around project timing.
The property's position adjacent to Basque Park, together with its proximity to the CBD, places it within one of Auckland's most established and desirable city fringe precincts.
Highly accessible and within walking distance of both the Maungawhau (300m) and Karanga-a-Hape (1.4km) City Rail Link (CRL) stations, it benefits from convenient access to Auckland's motorway network, educational institutions, and a wide range of retail and hospitality amenities.
The property is zoned Business Mixed Use Zone under the Auckland Unitary Plan.
Colliers Brokers Nikko Boxall, John Davies, and Blair Peterken have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 22 July, unless sold prior.
Boxall, Investment Sales Broker at Colliers, says already consented opportunities of this scale are becoming increasingly difficult to secure within Auckland's city fringe.
"Sites that combine immediate holding income with a clear development pathway are attracting considerable interest from developers and landbank investors," Boxall says.
"The ability to generate and grow the income stream while evaluating future options provides purchasers with a level of flexibility that is becoming increasingly valuable in the current market."
The offering comes at a time when significant investment continues to reshape the surrounding area.
The nearby Maungawhau Station, a major component of the CRL, is expected to become one of Auckland's most important transport interchanges upon completion later this year, connecting the CRL with the Western Line and improving access across the city.
Davies, Investment Sales Broker at Colliers, says transport investment is continuing to support property fundamentals across Auckland's inner-city fringe.
"City fringe locations that benefit from major transport infrastructure have consistently attracted strong occupier and developer interest. Improved accessibility supports residential intensification and reinforces the long-term appeal of surrounding landholdings," Davies says.
"The continued transformation of the Mount Eden and Karangahape Road precincts is creating opportunities for investors seeking exposure to areas undergoing significant urban renewal."
Peterken, Director of Capital Markets at Colliers, says the broader Auckland CBD and city fringe market continues to see substantial investment activity despite wider economic uncertainty.
"Auckland's city centre continues to evolve through major public and private sector investment," Peterken says.
"Properties like this one, that are well positioned to benefit from these long-term changes, are likely to remain highly sought-after, particularly when they offer scale, existing income, and tangible development flexibility."
- Supplied by Colliers
