A substantial landholding with significant future development potential that benefits from a high-profile position in the East Auckland suburb of St Johns is being offered to the market in a receivership sale.
It gives buyers a range of options to explore.
261, 263, and 265 Morrin Road, St Johns, are available for purchase either as a collective landholding or individual parcels.
The total combined holding spans approximately 9.61ha and is held in three separate freehold titles.
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Formerly part of the University of Auckland’s Tāmaki Campus, the freehold properties are well positioned in an evolving catchment that is close to Glen Innes train station, Colin Maiden Park, Stonefields, and key arterial transport connections.
Sitting on the corner of Morrin and Merton Roads, the property has excellent street exposure with more than 450m of combined street frontage.
The properties are zoned Business – Mixed Use Zone under the Auckland Unitary Plan and are subject to the Tāmaki Precinct provisions.
This zoning supports a broad range of residential, commercial, education, healthcare, and mixed-use development outcomes.
Colliers Directors Josh Coburn and Blair Peterken have been exclusively appointed by Neale Jackson and Brendon Gibson of Calibre Partners, the receivers of Shundi Tamaki Village Limited (in receivership), to offer the properties for sale.
They are offered via an international expression of interest campaign closing at 4pm on Wednesday 1 July, unless sold prior.
261 Morrin Road is a predominantly vacant site spanning 16,969sq m. This property will hold appeal for developers and investors given a resource consent is in place for five apartment buildings, a separate car park building, and an approved leisure centre.
263 Morrin Road is home to a four-level commercial building that provides approximately 10,115sq m of net lettable area and includes key tenancies Anytime Fitness, UniSports medical clinic, and steel framing specialists FRAMECAD.
The premises sits on a 6,428sq m site and generates an estimated passing income of $1,262,566 plus GST per annum.
The premises also includes some vacancy, so there is potential for the new owner to add value and grow the income stream.
265 Morrin Road comprises the balance landholding that measures 72,723sq m. There are seven former campus buildings at the property alongside associated car parking.
These buildings could be repositioned or have the flexibility to be utilised for a wide variety of different occupiers.
Coburn, Director of Site Sales & Capital Markets at Colliers, says a landholding of this scale and flexibility is seldom available within an established urban catchment and will draw the attention of developers seeking their next major project.
“There is a broad array of avenues for prospective purchasers to consider with this large landholding,” Coburn says.
“Buyers can either advance the existing resource consent scheme at 261 Morrin Road or acquire all of the properties and reimagine the wider precinct through a new masterplanned vision.
“The scale of the holding enables staged delivery outcomes, adaptive reuse opportunities from the existing improvements, or a comprehensive redevelopment that is rarely achievable across Auckland.
"Potential use pathways include residential apartments, terrace housing, build-to-rent, retirement living, education, or an office campus.
“The existing tenancies at 263 Morrin Road provide strong holding income while the purchaser decides their next moves for the properties and the campus buildings at No 265 may also provide long-term occupation or leasing opportunities, making this an attractive investment in its own right.”
The surrounding area is characterised by a diverse mix of residential neighbourhoods, commercial activity, education uses, open space, and ongoing urban regeneration, supporting a wide range of future development outcomes.
Peterken, Director of Capital Markets at Colliers, says a key strength of the location is its proximity to nearby amenities and transport infrastructure.
“The properties are in comfortable walking distance to Glen Innes train station and across from Colin Maiden Park, a popular and well-known 20ha sports complex.
"Lunn Avenue’s substantial retail offering is a short drive away, offering future residents or occupants access to a desirable collection of retailers including New World, The Warehouse, and Mitre 10,” Peterken says.
“Positioned only 12.5km from Auckland CBD, the subject location offers connectivity to major employment, retail, and infrastructure nodes across the city.”
- Supplied by Colliers
