THE OPPORTUNITY

Key Features

  • Prime 4,258m² freehold development site in three separate titles (369m², 451m², 3,438m²)
  • Three street frontages (Albert St, Wyndham St, Mills Lane)
  • At the doorstop of the northern end of Queen Street (via Swanson Lane)
  • Five existing buildings totaling 15,056m² with demolition consent
  • Resource consent in place for high rise office, hotel, retail and parking.
  • Significant preliminary design work and concept drawings have been completed on a 52 and 46 storey twin tower residential/hotel development.

Over an acre of prime CBD land on Albert Street, with three street frontages, on an elevated site close to the popular waterfront end of Queen Street is up for sale with concept plans in place for a major twin tower residential and hotel development on the property.

The proposed development would encompass nearly 55,000m² of gross building area, with one tower comprising 52 levels, the other 46 levels.

The latest Architectus proposal combines a five-storey podium with two residential towers, approximately 180m and 200m high, containing approximately 350 apartments and a 200-room hotel.

The podium accommodates retail, cafés and restaurants and includes courtyard spaces along with hotel facilities such as a gymnasium and a pool.

The hotel would be accommodated on the lower 20 levels of the eastern tower, with entrances from both Albert Street and Mills Lane. A hotel restaurant would be located off Albert Street opening onto a private courtyard.

The corner of Queen and Shortland Streets is less than a two minute walk away via the Swanson laneway that runs off Mills Lane and it’s also only a short walk down Albert Street to where Precinct Properties’ exciting new Commercial Bay office/retail waterfront complex will be fully developed by 2020.

Paul Hain of Bayleys says “it’s in the increasingly popular north western part of the CBD, which has benefited from a significant migration of tenants in recent years because of its proximity to the waterfront and the Britomart and ferry public transport hubs.”