Positioned on a prominent, elevated corner just south of Auckland’s CBD, 12 Karaka Street, Newton offers a rare opportunity in one of the city’s most dynamic and fast-growing precincts.
The north-facing 472sqm freehold site enjoys multiple road frontages and is zoned Business – Mixed Use under the Auckland Unitary Plan. With a generous height allowance of 32.5 metres, this site is primed for intensive development. A full development scheme has been undertaken for an 9-level mixed-use project, providing a clear pathway for transformation into a high-value residential & commercial development.
Currently occupying the site is a two-level building of approximately 292sqm, comprising two self-contained residential flats - a six-bedroom ground floor unit and a five-bedroom upper level unit, together generating $150,000 net annual income. The property also includes 13 car parks, offering strong holding income while development plans progress.
Strategically located with excellent access to Karangahape Road, Ponsonby, Mt Eden, Newmarket, and the future City Rail Link station on Mercury Lane, this location is poised for long-term growth and urban intensification.
The property is offered for sale by way of Negotiation.
Please contact the agents below for further information.
Ben Jamieson
+64 21 520 884
Adam White
+64 21 046 8249
Features:
- Full development scheme for 9-level mixed-use project
- 472sqm freehold site on high-profile corner
- Zoned Business – Mixed Use with 32.5m height allowance
- Fully leased with $150,000 net income p.a.
- 13 on-site car parks
- Excellent access to major transport links and amenity hubs
More information: https://www.colliers.co.nz/p-NZL67034639
