Long term investment with development potential
JLL marketing 42 Toovey Road, Warkworth through an expressions of interest campaign closing 4pm, Thursday, 8 November 2018.
The opportunity has arisen to purchase 20ha of land in the popular township of Warkworth, north of Auckland. The property is being marketed by John Binning and Kevin Reardon of JLL and will be sold through an expressions of interest campaign closing 4pm, Thursday, 8 November.
The land is in an idyllic private valley and is well maintained. It is in two titles, one is 18.5ha and the other 1.5ha, both with a modern house on site, with the larger site having a 305sqm house and the smaller site with a 93sqm house.
"This property is zoned Future Urban, which essentially highlights that it will be a town centre with a residential offering in years to come. A new owner could choose to sell off one title and retain ownership of the other with the knowledge that a significant sale could be made in future," says Reardon.
"Access to the property is currently available via Toovey Road. However, part of the larger title does extend off State Highway One, so a new owner could apply for access from the main highway to further improve access once development starts to take place."
Warkworth is a township that is predicted to grow. The township is 64km north of Auckland and and the drive time is approximately 40 minutes. However, a new motorway is underway with a road of national significance between Puhoi and Warkworth currently under construction. This new motorway will allow faster access to Auckland and should be completed in late 2021.
"The Matakana Link Road in Warkworth will be a $62 million upgrade designed to ease traffic congestion and link Matakana Road to SH1 at the northern end of Warkworth. It is an essential project due to the expected growth projected for the area," says Binning.
Significant residential and employment growth is expected over the next 30 years with JLL research forecasting a 65 percent increase in the population of Warkworth between 2017 and 2043. With this in mind, the council has earmarked approximately 1,100 hectares as future urban land that could accommodate approximately 7,500 additional dwellings, or an additional 20,000 people.
Warkworth offers residents a modern township with character, access to some of the most popular beach locations in the North Island and is within a respectable drive time to Auckland CBD. Demographics for the area indicate a median age of resident to be 47 years old, of which, 71 percent own their home.
"The area is ideal for families and those looking for a lifestyle away from city living. The popularity and growth of the area is proving that this is now what many people are seeking and this property represents a large piece of the puzzle that will be the Warkworth of the future," says Binning.
For more information or to make an enquiry, visit the online listing.