Bayleys is pleased to present 28–34 Robert Street, Ellerslie – a rare 5,530sqm freehold landholding in one of Auckland’s most tightly held city‑fringe suburbs, offered with the benefit of strong, sustainable holding income and compelling future development upside.
Currently operating as a fully occupied 68‑unit boarding house, the property generates a net income of approximately $774,000pa, providing immediate cashflow certainty while preserving flexibility for redevelopment, intensification or long‑term land‑banking. This income profile materially de‑risks ownership during planning, design or staged delivery phases.
Originally developed as an integrated motel development, including restaurants and conference facilities, it is currently configured as 60 studio units, 8 x one-bedroom units, shared laundry and kitchen, plus management offices, accommodation, storage and car parking.
The site is exceptionally well positioned within walking distance of Ellerslie Village and Ellerslie Train Station, with State Highway 1 on-ramps approximately 500m away, placing the Auckland CBD, Newmarket and key employment hubs within easy reach. Ellerslie continues to benefit from strong residential demand, quality schooling, growing amenity and major investment across the wider Racecourse and Central Park precincts.
Plan Change 120 is expected to rezone the property from Mixed Housing Urban to Terrace Housing and Apartment Buildings (THAB), Auckland’s highest-intensity residential zoning. Large, flat sites of this scale becoming increasingly scarce in centrally located, high‑amenity suburbs. 28–34 Robert Street represents a genuinely outstanding opportunity to secure scale, income and future-proofed development capacity in one acquisition.
