Albany IM A1

INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

Landmark Albany Development Site

Block A1, Albany City Centre, Auckland

Bruce Whillans Kathy Ying Whillans Realty Group Limited Whillans Realty Group Ltd. (REAA 2008)
M: (021) 985 619 M: (027) 805 1528 Level 3, The Annex
P: (09) 304 1453 P: (09) 304 1453 41 Shortland Street
E: [email protected] E: [email protected] Auckland 1010

BLOCK A1

INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

Contents 1-2
3-4
01 Introduction 5-6
02 Block A1 - Executive Summary 7-8
03 Block A1 - Zone Summary 9-14
04 Location 15-16
05 Development Concepts 17-18
06 Subdivision Concepts 19-20
07 Location - Development Underway 21-22
08 Estate Zoning 25
09 Block A1 Title 26
10 Sales Process and Contact
11 Disclaimer

BLOCK A1 Westield Albany
Albany Lakes Reserve
Proposed Countdown

Park & Ride Station

Carl’s Jr / KFC

INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

PAK’n SAVE Massey University
North Harbour Stadium

Rosegarden Apartments

The Foundation

01 Introduction One of the last signiicant commercial/mixed use
land blocks on Auckland’s North Shore.
Ray White Commercial, as master agent, are pleased to offer the freehold
interest in Block A1, located in the Albany City Centre; one of New Zealand’s Flexible mixed-use zone with huge scope for a
most strategically positioned land holdings and a key growth area for new landmark retail and apartment development.
Auckland.
Surrounded by world class infrastructure and
Located 20 kilometres (20 minutes drive) north of the Auckland CBD, in one of the country’s fastest public transport, and a rapidly growing and
developing regions, the entire Albany estate is being developed into a mix of retail, ofice, residential and wealthy population base.
other commercial activities.
Coveted retail Auckland precinct, home to
Home to major retailers including The Warehouse, Pak’n Save, Mitre10 Mega, and one of the largest Westield, Pak’n Save, Mitre10, and The
Westield shopping centres in the Southern Hemisphere, Albany City Centre has become a pre-eminent Warehouse.
retail destination in Auckland, drawing from a catchment which includes some of the country’s wealthiest
and fastest growing suburbs. Several hundred million dollars worth of
development planned and underway by Goodman
As a prime 3.1702 hectare development site, Block A1 presents investors with a blank canvas to develop Group and Progressive Enterprises.
a high proile mixed-use scheme next to State Highway One (SH1). Beneitting from it’s lexible mixed-use
zone, Block A1 can accommodate ofices, retail shops, entertainment facilities and apartments. -1-

Block A1 is the last development site within the Albany Estate that is available through the original developer.
It offers investors incredible scope to create a new landmark mixed-use development on Auckland’s northern
gateway.

Bruce Whillans Kathy Ying
Managing Director - Ray White Commercial Commercial Broker

INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

Concept Scheme Artist Impression

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02 Block A1 - Executive Summary

Block A1
Address 98 McClymonts Road, Albany City Centre, Auckland
Land Area (ha) 3.1702 ha (freehold)
CV 2014 $21,400,000
The Opportunity Beneiting from a mixed use zone, Block A1 is the only available site in the estate that
is not subject to a Westield land use covenant. This allows Block A1 to be developed
Current Zoning as a shopping mall with associated department stores.
Site Background
Enjoying wide exposure to the Northern Motorway and opposite Progressive
Enterprises proposed Countdown development, Block A1 has had previous resource
consent to build a 35,000m2 mixed-use shopping centre and ofice complex. With
Auckland and the North Shore both facing a shortage of new housing, Block A1 also
offers the potential for a high-rise apartment development.
11A 'Main Street Focus'
Zoned 11A under the North Shore City District Plan, permitted activities include
ofices, residential apartments, retail, cafes, restaurants and entertainment uses.
In July 2009 land use consent was granted to develop a multi-level 35,150m2 bulk
retail development, with provision for 2,600m2 of ofice space and 856 carparks.

The site plan of the development from Ignite Architects (opposite), depicts a central
retail mall surrounded by a cluster of major bulk retailers. This consent is subject to
lapse in 2019, 10 years after the original consent was granted.

Floor plan of approved ofice/mall/bulk retail development
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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

BLOCK A1

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03 Block A1 - Zone Summary

Zone 11A ‘Main Street Focus’ Basic Floor Area 4 to 1
Ratio
Activities Activities within the Business 11A zone should support the Max Floor Area 6 to 1
Ratio
development of a vibrant main street that encourages daytime and Building Coverage Unlimited
Parking On-sites in the Business 11A zone fronting the local street (main
evening use of the area through a mix of activities that includes street) or collector (main) street there shall be no parking between any
building and the street. Parking shall be located to the rear of, within or
retail, cafes, restaurants, cinemas, ofices and above ground loor under the buildings.

residential apartments.

Minimum Apartment Minimum unit sizes shall be as follows:

Sizes i) Studio/one bedroom unit =40m2

ii) Two bedroom units =55m2

iii) Three or more bedroom units =70m2

provided that no more than 30% of the units within a development

shall be less than 55m2.

Maximum Height There is a height limit of 30 metres, with control lexibility to an

unlimited height, when speciic assessment criteria are met. This

lexibility allows for high intensity development on Block A1. However, NOTE: The above zone and development control summary are intended as a guide only
and should not be relied upon as a statement of fact. We recommend that all parties seek
buildings should be designed to avoid, remedy or mitigate adverse independent planning advice before submitting an offer on the property.

effects on public open space and residential development on the

eastern side of State Highway 1 (namely shadowing and wind

tunneling effects). This is likely to restrict the ultimate height of

buildings within certain parts of the zone.

It should be noted that under the proposed unitary plan Block A1 will
have a 72.5m height limit.

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

GILLS RD

100 50 0 Metres JOY ST MEDALLION DRV

1:7,0LI0VI0NG ST REAM RD MASONS RD

ST MILLS LANE
GOLD

OTEHA VALLEY RD ELLIOTT ROSE AVE LIS MORE WAY
CORNERSTONE DRV
APPIAN CORBAN AVE CARROWMO SPENCERBLOCK A1

WAY RD
RE
ALBANY HWY CIVIC CR STATE HWY 1

COLISEUM DRV

DON CORINTHIAN DRV

MCKINNON DR

BLOCK A1 STATE HWY 17 MERCARI WAY

BUSHLANDS PARK DRV GREVILLE RD

BUSH RD PUKATEA AVE
SOPHORA WAY

VILLANOVA PL CLEMOWS LANE EXCELSA PL TAWA DRV PL

Legend MIRO
recreation zones
primary axis arterial local street (public) civic precinct
secondary axis local street (public / private) proposed reserves
collector (commercial) pedestrian and / or cycle routes
APPENDIX 10
collector (mainstreet) landmark
collector (civic crescent) squares
local street (commercial)
local street (mainstreet)

NORTH SHORE CITY DISTRICT PLAN

ALBANY CENTRE - structure plan

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04 Location Whangaparaoa

Albany is situated approximately 20 kilometres north of Key Albany City Developments NSH-1
Auckland’s Central Business District in North Shore City. This
area, together with the adjacent Rodney District and Waitakere • The Sydney based Goodman Group have begun promoting Albany City
City is currently undergoing rapid population growth with an their 12.1ha Orchard Park development at the southern
estimated 200,000 new residents forecasted to reside here over end of Albany City. Their intention is to replicate the Takapuna
the next 20 years (Statistics NZ medium projection). standard they have set at Highbrook, with the development CBD
of ofice buildings up to four storeys and loor plates of
Approximately 10 years ago North Shore City Council (NSCC) 500-600m².
identiied that North Shore City was primarily a residential region Refer: www.orchardpark.co.nz / www.highbrook.co.nz
and had limited land zoned for business use. This had become
a key contributing factor to employment leaving the region, • In June 2012 Auckland Transport doubled the parking
with approximately 40% of North Shore City residents working capacity of it’s Albany Park & Ride bus station to 1,100
outside the city, many of them commuting to Auckland City. spaces.
This resulted in lost economic beneits for the region as well as
peak hour trafic congestion issues. SH-18

At this time, and in conjunction with the Auckland Regional Westgate
Council, the NSCC identiied Albany City as a major, future
urban centre for North Shore City.

The substantial development planned and already underway for SH-16
the Albany area is underpinned by not only strong population
growth rates but a catchment which includes some of the
regions wealthiest suburbs.

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

Takapuna Orchard Park Auckland CBD Westfield Albany Albany Mega Centre Massey University

BLOCK A1

Park and Ride KFC / Carls Jr Proposed Countdown Rosegarden Apartments The Foundation North Harbour Stadium
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05 Development Concepts

NOTE: The development and subdivision concept plans are intended as a guide only and should not be relied upon as a statement of fact. We recommend that all parties seek independent planning
advice before submitting an offer on the property.

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

Residential Tower Residential Residential

The Lakeside

Auckland’s best lifestyle precinct

Hotel Residential Residential

Site Plan | 1:1500

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05 Development Concepts 2 Bedroom 2 Bedroom 2 Bedroom 2 Bedroom
2 Bathroom 2 Bathroom 2 Bathroom 2 Bathroom
The Lakeside
87sm 75 sm 75 sm 81 sm
Auckland’s most dynamic apartments

2 Bedroom 1 Bedroom 1 Bedroom 3 Bedroom
2 Bathroom 1 Bathroom 1 Bathroom 2 Bathroom

80 sm 61 sm 47 sm 101 sm

Plan | Residential Tower

, not necessarily to scale and indicative only. 23

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

Standard Suite Superior Suite
1 Bathroom 1 Bathroom 1 Bathroom

28 sm 36 sm 58 sm

The Lakeside

Auckland’s premier hotel suites

Corner Suite Standard Balcony Suite
1 Bathroom 1 Bathroom 1 Bathroom

61 sm 28 sm 28sm

Plan | Hotel 25

, not necessarily to scale and indicative only. -12-

     TOTALS     Concept Scheme Plan Under The
Current District Plan
05 Development Concepts
     
  
           
 

   

      HOTEL RESIDENTIAL RETAIL CARPARKING
  
KEYS AREA 1 BED 2 BED 3 BED AREA 1.1 1.2 1.3 AREA 1.1 1.2 1.3 AREA
A1 TOTAL
248 12,370 185 305 86 56,235 1,415 1,295 0 2,710 532 348 188 37,380

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TOTALS     INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

     
  

Concept Scheme Plan Under The
Proposed Auckland Unitary Plan

       

               

      HOTEL RESIDENTIAL RETAIL CARPARKING
  
KEYS AREA 1 BED 2 BED 3 BED AREA 1.1 1.2 1.3 AREA 1.1 1.2 1.3 AREA
A1 TOTAL
279 13,810 236 418 113 74,970 1,415 1,295 0 2,710 710 368 238 46,060

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06 Subdivision Concepts

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

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07 Location - Development Underway

Corinthian Retail Centre, 21-25 Corinthian Drive Rose Gardens, 25 Don McKinnon Drive The Foundation, 270 Oteha Valley Road
Located at 14 Corinthian Drive, Stage One of the Corinthian Retail Overlooking the Albany Lakes Reserve and Civic Park, ground works Completed in 2014, The Foundation is a fully leased retail centre
Centre was completed in 2014. The development features 13, are underway for the Rose-Garden Apartments. Stage one is a 200- anchored by Oporto Chicken, a Lone Star Restaurant and a
70m2 - 115m2 separate retail units. bed development consisting of one to four-bedroom apartments with Bridgestone Tyre Service Centre.
lexible live/work options and ground loor commercial tenancies.
www.orchardpark.co.nz Stages two and three will encompass a further 13,300m², with the
total number of apartments in all phases eventually numbering around
800.

www.rosegardens.co.nz

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

Orchard Park, Corinthian and Oracle Drive KFC / Carl’s Jr, 341 Oteha Valley Road Countdown Supermarket, 55 Don McKinnon Drive
Developers of world class ofice parks and industrial estates, Restaurant Brands has opened a new KFC and Carl’s Jr Having secured a 3.3 hectare site at blocks D2-D3, Don
the Goodman Group are planning an integrated ofice park with restaurant on the corner of Oteha Valley Road and Munore Lane. McKinnon Drive, Progressive Enterprises are planning a new
modern, eficient, and sustainable facilities at the southern end Countdown Supermarket.
of the Albany City Centre. On-site amenities and co-ordinated www.orchardpark.co.nz / www.highbrook.co.nz
landscaping will be integrated into a masterplan that represents www.progressive.co.nz
the latest thinking in land use planning. Goodmans intention is to
replicate the standard set at their Highbrook business and light
industrial park in South Auckland.

www.orchardpark.co.nz / www.highbrook.co.nz

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08 Estate Zoning

Business 11A Business 11B Business 11C
‘Mainstreet Focus’ zone aims to provide a pedestrian retail link ‘Employment Focus’ zone is primarily an ofice zone incorporating ’Residential Focus’ zone is a high density residential zone, which
between the park and ride station to the Albany Lakes Reserve minor amounts of convenience retail on the ground loor with provides for small amounts of convenience retail and restaurants
and Westield Shopping Centre. Development is to include main residential permitted on the third loor or above. and up to 10,000 m² of healthcare facilities. This zoning may allow
street retail with building frontages adjacent to the footpaths. for the development of age care facilities (retirement villages) and
Residential development is permitted above the ground loor level. Height Limit 30 metre height limit for those sites fronting residential apartment towers.
Yards the North Entry road and 20 metre height
Permitted FAR 4:1 limit for the land fronting Appian Way. FAR unlimited
Maximum FAR 6:1 Height Limit 20 metres on Lots 2 & 3 and unlimited on Lot 1.
Max Height No yards are required in this zone.
20 metres (apart from Lots Five and One on A minimum height of 4 storeys for at least 80% of
the Eastern side of the centre which have an Business 6 the building footprint is required.
unlimited height allowance) ‘Ofice Park’ zone provides for medium rise ofice development.
Business 11D
Yards No yards are required under this zone with a ‘General Business’ zone provides for certain retail activities
minimum height of two storeys for 100% of including; service stations, drive-through facilities, car-sales
the building footprint and 30 metres of the Permitted FAR 2:1 showrooms or retailers of automotive and marine related products,
street frontage to collector and (main street) hardware and building suppliers, garden centres, retailers of
arterial roads. Yards Building coverage is unlimited furniture, loor coverings, household appliances, transport related
activities, and convenience stores of 200 sqm or less, or cafes and
Business 7E restaurants.
‘Business Park’ zone provides for low density ofice and minor
retail uses.

Maximum FAR 1.5:1 FAR unlimited
Height Limit 9 metres, with potential for a bonus height
allocation up to 15 metres. Max Height 20 metres (except for the land fronting the North
Yards Maximum 40% site coverage Entry, which has a maximum height of 30 metres)

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

Orchard Park

Countdown Development

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09 Block A1 Title

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

11 Disclaimer

Disclaimer

1.1 This conidential Information Memorandum (“Memorandum”) has been or implied) conveyed directly or indirectly to Investors in relation to the Property. In
prepared by Whillans Realty Group Limited, Licensed Real Estate Agent (REAA 2008) addition, no representation is made by Whillans Realty Group Ltd that there has been
(“Whillans Realty Group Ltd”). Neither this Memorandum nor the information contained no change in the state of the Property either before or after the date of provision of this
in it nor any other information supplied by Whillans Realty Group Ltd to the Investor Memorandum, or as to the future prospects or performance of the Property.
forms the basis of any contract or any other legal obligations.
1.4 In particular, this Memorandum includes certain statements, analyses,
1.2 The Memorandum has been prepared solely for information purposes in budgets and projections provided by Whillans Realty Group Ltd. Such statements,
order to assist potential investors (“Investors”) in making their own evaluation of the analyses, budgets and projections relect various assumptions made by Whillans
Property and does not purport to contain all the information that Investors may require. Realty Group Ltd which may or may not prove correct. While the statements,
Investors should, amongst other things, conduct their own investigations and analysis analyses, estimates, budgets and projections contained in this Memorandum and
of the Property and the information set out in this Memorandum. By accepting this attributed to Whillans Realty Group Ltd have been carefully developed, represent the
Memorandum, Investors acknowledge that Whillans Realty Group Ltd disclaims view of Whillans Realty Group Ltd and have been arrived at on the basis of the best
any liability to reimburse or compensate Investors for any costs, losses or expenses information available at the date of this Memorandum, no representations or warranties
incurred by Investors in evaluating the Property or otherwise acting in connection with are made by Whillans Realty Group Ltd as to the accuracy and completeness of such
the process of evaluating the Property. statements, analyses, estimates, budgets and projections.

1.3 Whillans Realty Group Ltd has not independently veriied nor audited any 1.5 This Memorandum is for the sole use of persons directly provided with it by
of the information, including projections or budgets contained in this Memorandum. Whillans Realty Group Ltd and is not to be resupplied to any other person without
Neither Whillans Realty Group Ltd nor any of its shareholders, directors, employees, the prior written consent of Whillans Realty Group Ltd. Use by, or reliance upon this
advisors or agents, make any representation or warranty as to the accuracy or Memorandum by any other person is not authorised by Whillans Realty Group Ltd and
completeness of the information contained in this Memorandum (or any other written without limitation to the above disclaimers, Whillans Realty Group Ltd is not liable for
or oral communications to the Investor) and those parties shall have no liability any loss arising from such unauthorised use or reliance.
(including for negligence) for any statements, opinions, information or matters (express

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INFORMATION MEMORANDUM BLOCK A1, ALBANY CITY CENTRE

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For Sale by Tender Closing: 4:00pm 14th April, 2015 (Unless Sold Prior)

Ray White Commercial Bruce Whillans Kathy Ying

Whillans Realty Group Ltd, Licensed (REAA 2008) Managing Director Commercial Broker

Level 3, The Annex, 41 Shortland Street Telephone: +64 (09) 304 1473 Telephone: +64 (09) 304 1473

Telephone: +64 (09) 304 1453 Mobile: +64 (21) 985 619 Mobile: +64 (27) 805 1528

Fax: +64 (09) 368 1460 Email: [email protected] Email: [email protected]