For sale by expressions of interest closing 2:00pm, Wednesday 3 June 2026 (unless sold prior).
Positioned adjacent to the Ellerslie train station and 150 metres from Ellerslie town centre, this income-yielding strategic landholding is perfectly placed to benefit from Auckland's ongoing urban growth and transit-oriented development.
A combined 1,599m² landholding, featuring favourable Business - Mixed Use zoning and underpinned by Ellerslie's locational attractiveness and a robust residential market, positions this property strongly for future high-density intensification.
19 and 21 Kalmia Street represent the lessor's interest in two strategically located titles, providing secure, low-maintenance ground lease income from established tenants with incomes of $65,650 and $65,910. These interests offer passive investment with five-yearly reviews fixed to 6.5% of the Freehold land value, ensuring the income stream keeps pace with land appreciation.
23 Kalmia Street is an 805m² Freehold landholding to the north with a 452m² building and six car parks, generating immediate income. A redevelopment clause within the lease offers flexibility to unlock the site’s development potential.
The properties are offered together or separately, to suit buyers focused on reliable passive income and rental growth prospects or its intensification potential. This is a standout opportunity to secure a substantial footprint in one of Auckland’s most connected growth corridors.
KEY FEATURES:
- Strategic 1,599m² combined site across three titles
- Unrivalled transit-oriented connectivity, located adjacent to Ellerslie train station and bus stops
- Income from $65,650 to $304,011 for the combined offering
- Favourable Business - Mixed Use zoning with a proposed 34.5m height limit under PC120
- Mixture of lessor's interests and Freehold title providing both passive income and development flexibility
- Options to buy one or more properties individually or in any combination
