Zoning
"They are zoned Business 1 under the current operative Auckland plan which is applied to small centres throughout Auckland, but the zoning changes to Mixed Use under the Proposed Auckland Unitary Plan which would allowing for development on the sites up to 16.5 metres."
"It is worth noting the recent development at 433 Dominion Road is the same B1 zone and features a significant commercial and residential development,"
Paterson says. "This zone is in line with general council policy of encouraging accommodation density in areas with nearby access to public transport."
Location
Paterson says the properties are located 750 metres south of the Valley Road intersection and 525 metres north of the Balmoral Road intersection.
"Both Dominion Road and Balmoral Road are major inner city arterials linking the suburbs of Eden Terrace, Mount Eden, Balmoral, Epsom and Mount Roskill to the city and to the motorway network. Dominion Rd is a key transport route to the city with bus lanes which may benefit from the development of light rail in the future."
He says the suburb of Mt Eden is a popular residential area of Auckland due to it being close to the CBD, as well as having favourable school zonings.
"Commercial businesses in the precinct are well supported so property investments are sought-after in this location with very few retail vacancies.
"Overall, we believe this to be a very good location that will grow and improve as Auckland's population continues to expand in the surrounding residential areas."
Paterson says the total land of 2057sq m is a rectangular shape approximately 50 metres wide and 42 metres deep.
The site
"The site at 448 Dominion Road was originally a 693m² site reduced to 674m² after 19sq m was taken in 1981 for future road widening. That site is a long rectangular shape with approximate boundaries of 40 metres to Herbert Road and 17 metres of frontage to Dominion Road."