Skip Ribbon Commands
Skip to main content

News Release

Auckland

Bare commercial land in top suburb of Parnell

JLL marketing 11a Cheshire Street, Parnell


 

 

Long term investment with development potential/new-zealand/en-gb/news/916/long-term-investment-with-development-potentialAUCKLANDLong term investment with development potential
Former Fire Station on high profile corner site/new-zealand/en-gb/news/915/former-fire-station-on-high-profile-corner-siteCHRISTCHURCHFormer Fire Station on high profile corner site


​A freehold, 1,031sqm land holding in Parnell, close to Auckland's CBD is for sale through JLL. The property will be sold through an expressions of interest campaign closing 4pm, Thursday 12 July.

JLL agents Jarred Hill and Ian Hall who are marketing the property, say the site is ripe for development and being zoned Business Mixed Use opens it up to a range of potential uses.

"The property would be suitable for a hotel, apartment or student accommodation," says Hill. "It is being offered for sale with resource consent in place for a 36 dwelling apartment development with two levels of car parking. However, a new owner could seek to modify these plans or take advantage of the enhanced height variation under the Auckland Unitary Plan and maximise the size with a new development."

The site borders the new Parnell Train Station, has a westerly aspect and a frontage of approximately 55 metres. It also slopes away gently from Cheshire Street towards Auckland Domain with piles to meet the existing building consent already in place.

The $12 million Parnell Train Station provides access to and from Parnell with linkages to the Auckland Domain and the University of Auckland. Adding charm to the station is the former Newmarket Station heritage building, which was relocated onto the site.
"Parnell Station is expected to become the fourth busiest station on the network due to its proximity to Auckland University. Once all proposed upgrades of the Parnell Station are completed, it is forecast that at peak hours of the morning the station could see some 2,000+ passengers exiting trains at Parnell, right by this site," says Hall.

Access from the station to the University is being improved by a new pathway which will sit between the station and the Carlaw Park campuses, allowing students to then continue along Nicholls Lane up to the university.
There are currently four apartment developments either under construction, in planning or proposed in Parnell. These are a four level, 10-unit development called the Ford Lofts on York Street, a five level, 13-unit development called Windsor Apartments on Parnell Road, a six level, 18 unit development called Edition Apartments on Churton Street and the proposed six level, 36 unit development of this site on Cheshire Street.
"Population forecasts suggest that Parnell is set to grow by approximately 20 per cent over the next 10 years meaning the area will be requiring further accommodation options so the development of these apartments will play an important part in shaping the future of Parnell," says Hall.

Parnell itself is popular with businesses drawn to the area due to its close proximity to the CBD and for it's charm. It is one of the oldest suburbs in Auckland and is home to eclectic architecture with a mix of modern architecturally designed spaces and heritage properties.
Parnell Road has approximately 17,400 cars pass per day during the working week. A main thoroughfare, the road is home to boutique shops, art galleries, cafes and restaurants.

The area is easily accessed by car, bus or train, with motorway access only a few minutes away.