Waipuna Hotel and Panmure town centre land for sale
Auckland’s Waipuna Hotel & Conference Centre and a large land parcel in Panmure town centre have been placed on the market, offering investors and developers the opportunity to own and further develop two strategic land holdings in a rapidly-regenerating location.
CBRE director Natasha Sarkar is handling the sales of the two properties with colleagues John Holmes, Brent McGregor and Warren Hutt. The sites are available separately and with vacant possession.
“Undeveloped land on both sites makes residential development alongside the existing well-established operations a strong possibility. This is enhanced by the exceptional local amenity value, which includes Sylvia Park, rail and bus stations nearby,” Sarkar says.
The Waipuna Hotel & Conference Centre, at 58 Waipuna Road, Mt Wellington, occupies a 2.5 hectare waterfront site facing north over the Panmure Basin. It is the largest freehold parcel of land adjoining the basin, with a 230 metre waterfront boundary.
The complex is one of the largest and most comprehensive conference facilities in New Zealand. Developed progressively from 1966 through to 1990, it includes several buildings housing 148 hotel rooms, 17 conference and meeting rooms, a 400 seat tiered theatre, restaurant and bar, pool, spa and gym. 450 car parks are also on site.
The significantly under-developed site presents a range of opportunities for the new owner, including partial or full redevelopment, says Holmes.
“The site’s waterfront site and views, connection to public transport and Sylvia Park as well as flexible mixed use zoning naturally lends itself to several different uses, with education and church group use also among the many future possibilities.”
Across the basin in Panmure Town Centre, 163 Queens Road features two hospitality premises (including the historic Panmure Tavern) and a small medical practice, on 3718 square metres of freehold land spread across two titles.
The 130 year old Panmure Tavern building is Category 2 heritage listed, with the adjoining buildings newer additions. Most of the high profile corner site is vacant and used for car parking, offering a strong value proposition, says Sarkar.
“The size of the site means it could accommodate residential development while retaining the historic tavern building, as well as some or all of the other existing buildings. This will be considered a prime residential opportunity on central Panmure town centre land, with dual street access and proximity to amenities which is well suited to high density housing.”
The site’s Business Mixed Use zoning permits development up to 27 metres high.
The two properties are for sale by expressions of interest closing at 4pm on September 5.