Once-in-a-generation development opportunity

One of Whangārei’s most prominent sites is up for sale with what real estate specialists are tagging as a once-in-a-generation development opportunity.

The more than 2,600-square-metre freehold landholding sits in a pivotal CBD location with exceptional arterial route exposure fronting Carruth, Dent and Reyburn streets.

With mixed-use zoning supporting myriad uses and multistorey development, it is tipped to give rise to a signature project within the vibrant Whangārei Town Basin.

Possibilities mooted by Bayleys salespeople include a landmark apartment, office or mixed-use complex, a hotel, or a flagship outlet for a major restaurant chain or service station capitalising on its outstanding drive-through potential.

Until now used for inner city parking, the land is offered vacant with no leases in place, ready for immediate development or land banking.

Bayleys salesperson Nigel Ingham said the property was recognised as a strategic catalyst site in Whangārei City Council’s CBD masterplan.

“In short, the Carruth Street site offers the scale, profile, accessibility and zoning flexibility to create something special and unlock maximum returns from a key Town Basin location.

“With development prospects at many surrounding sites constrained by leasehold tenure, this substantial piece of freehold land is a beacon of opportunity in one of New Zealand’s most lively urban waterfront precincts.

“With triple street frontages spanning over 120 metres, plus access from a fourth thoroughfare, Robert Street, it delivers the epitome of visibility and access. Its position on two arterial routes and immediate proximity to the waterfront ensures constant exposure to strong pedestrian flows and vehicle counts,” Ingham said.

The property at 22 Carruth Street, Town Basin, Whangārei, is being marketed for sale by Ingham and colleague Daniel Sloper of Bayleys Whangārei. It will be sold by deadline private treaty, closing on Wednesday 29th October, unless sold prior.

Sloper said mixed-use zoning under Whangārei’s district plan supported intensive development and a multitude of activities, from apartments, offices and retail to visitor accommodation, food and beverage outlets, aged care, community or educational facilities.

“With buildings allowed up to 16 metres as of right - and up to 21 metres for projects that include housing – buyers could deliver a multi-level apartment or office project that captures city and sea views. They could also concentrate on high-traffic ground-level uses such as hospitality, retail or drive-through offerings.

“Offered with vacant possession, the land provides a blank canvas with immediate control, enabling new owners to unlock its full potential - whether as an occupier, investor or developer responding to market demand,” Sloper said.

Positioned opposite Pak’nSave and White Cross Whangārei, the Carruth Street site is a short walk from the waterfront and CBD amenities. Convenient access to Whangārei Hospital, the city’s airport and tertiary campuses adds further to its locational appeal.

Future occupiers or residents will also benefit from a position in the Town Basin. This area’s revitalisation in recent years has spawned a multitude of restaurants, bars and retail offerings plus world-class visitor attractions such as the Hundertwasser Art Centre, Wairau Maori Art Gallery and Claphams National Clock Museum.