Large development site at Gulf Harbour

By Colin Taylor, article courtesy of NZ Herald

A 7.2 hectare, freehold development site for sale at Gulf Harbour presents an unusual opportunity for investors.

The large chunk of land in Parkview Drive — actually 6.9 hectares with reserve contributions calculated — is the last offering of this size and scale available at the seaside subdivision.

It is being marketed by JLL agent Tommy Zhang and Barfoot and Thompson commercial industrial agents Bruce Jiao and David Goodhue, with expressions of interest closing August 31, unless sold earlier.

"Resource consent has been granted for 67 residential lots with an average lot size of 570sqm, which is substantial considering many standard Auckland house lots are about 400sqm," says Zhang.

"As well, there are a further 2 superlots, offering an additional 58 households — so all together that’s 125 residences.

"The property will cater for a mix of standalone and terrace housing, or this can be reconfigured through council, if the new owner wanted to only allow for standalone properties."

Zhang adds that alongside the obvious suitability for housing, the land — zoned mixed housing suburban under the Auckland Unitary Plan — could be utilised for other purposes.

"We believe the location could also be suitable for a retirement village or aged care facilities. The opportunity is available and the vendor will be reviewing all options."

Superb amenities

Jiao notes that the site is just a short walk from the Gulf Harbour Country Club, beaches and the Gulf Harbour Marina, making the location ideal for those who enjoy boating or playing golf.

Decile 10 schools, restaurants, bars and the Hobbs Wharf Cafe on the waterfront are also nearby.

Within a ten-minute drive is Shakespear Regional Park, Whangaparoa business hub and shopping centre and the property is also a 20-minute ferry ride to the well-known wildlife sanctuary of Tiritiri Matangi.

"There are many high-end houses in the area and with good reason, the sea views from some of the vantage points are spectacular and will no doubt be a big draw card for investors for this site." says Jiao.

The median sale price for residential properties in Gulf Harbour for June 2017 was $772,500 (according to REINZ data), which when compared to areas such as Takapuna on Auckland’s North Shore where the median sale price was $1.3m, makes Gulf Harbour a desirable, less expensive alternative, without foregoing access to beaches and sea views.

"The ferry takes 50 minutes to reach Auckland CBD, which runs nine times daily from Monday to Friday. This makes the prospect of living the dream in Gulf Harbour appealing to many, especially those who commute to Auckland CBD to work and spend an equal amount of time or longer in a car on a daily basis," says Jiao.

Bruce Jiao
Bruce Jiao, Barfoot & Thompson Commercial

Cup Fever

Since first being developed about 30 years ago, the fortunes of high-end Gulf Harbour seems to have been inextricably bound up with the Americas Cup, Goodhue points out.

Cup spectators, sailors, supporters, media people, super yacht crews and many others, have all been associated with Gulf Harbour and its amenities — in particular the famous marina and golf course — over the years.

Right from the mid-1980s, when Sir Michael Fay first headed a challenge for the Auld Mug, Gulf Harbour’s remarkable views across the Hauraki Gulf — and therefore its potential to observe match racing courses, has figured strongly in its marketing.

"This trend was evident as Team New Zealand defended the Cup in the late 1990s and early 2000s, and it is being refreshed during ithe buildup to the Royal New Zealand Yacht Squadron’s defence the Cup in 2021," says Goodhue.

"I guess you could say Gulf Harbour was born amidst the massive excitement associated with the old 'Plastic Fantastic' challenge for the Americas Cup all those years ago, and remarkably enough, it’s something which has never fully left the place."

Barfoot & Thompson Commercial, David Goodhue
David Goodhue, Barfoot & Thompson Commercial

About Barfoot & Thompson Commercial

Barfoot & Thompson Commercial offer expertise in industrial and retail sales and leasing, property management and portfolio management.