The potential of new zoning under Auckland’s unitary plan is becoming a strong point for residential land sales as auction prices for houses decline and far more properties are passed in this year than last.
That was the case with 2 properties sold at Bayleys auctions this week, and a third had the existing commercial use as an attraction.
In the city centre, a 2-bedroom Metropolis apartment was sold under the hammer.
Square metre calculations below are based on more intensive use, excluding the value of the existing house.
Metropolis, 1 Courthouse Lane, unit 2014:
Features: 2-bedroom apartment, secure covered parking space
Outcome: sold for $577,500
Agent: Harry Cheng
20 Acorn St:
Features: 828m² flat section zoned apartments & terrace housing, 4 bedrooms, garage
Outcome: sold for $2.82 million at $3406/m² land
Agent: Dianne Burt
470 Sandringham Rd (pictured):
Features: 675m² corner site zoned mixed housing urban, 5-bedrooms-plus, 2 bathrooms
Outcome: sold for $1.5 million at $2222/m² land
Agent: Summer Sun
110 Ridge Rd & 12 Nelson St:
Features: 1741m² corner road-frontage site on 2 titles, a house on each section, 11m height & 45% site coverage as of right, agent says existing commercial use of the past 20+ years means mixed commercial & housing a possibility
Outcome: sold for $2.6 million at $1493/m² land
Agent: Gary Robertson
Attribution: Agency release.