As Auckland’s City Rail Link (CRL) reshapes access from the city’s western corridor, a prime landholding next to its most pivotal new transit hub is turning heads – drawing keen interest from major developers and investors ready to ride the wave of urban growth.

Bayleys Auckland’s Metro Markets associate director Cameron Melhuish is marketing the land parcel for sale by tender, closing at 4:00 pm on Thursday, 13th March 2025 (unless sold prior), alongside colleagues Layne Harwood and James Were.

The portfolio spans 4,358sqm of freehold land across six titles at 2 and 3 Flower Street, and 40, 42, 46-48, and 52 New North Road. Each title is backed by high-intensity zoning, immediate holding income, and unrivalled development fundamentals.

Melhuish says the portfolio, which sits beside the Maungawhau-Mount Eden Station, is perfectly placed to reap the rewards of Auckland’s game changing CRL – New Zealand’s largest infrastructure project - to become a key transport hub when it opens in 2026.

“The CRL is set to revolutionise city travel, slashing the Mount Eden-Britomart commute to just six minutes. This will supercharge access to Auckland’s key commercial and residential hubs – unlocking immense value for this strategically positioned portfolio.

"Four street frontages to New North Road, Flower Street, Nikau Street, and Korari Street provide exceptional profile and connectivity, making it a compelling proposition for developers seeking a prime mixed-use opportunity in a high-growth location,” he says.

Existing improvements span approximately 6,903sqm (more or less) of building area with 115 car parks, generating a substantial holding income of circa $2,906,146 plus GST. The portfolio includes a mix of available and tenanted spaces across multiple properties, with eight leases to notable tenants including Delissimo Deli, entertainment network MediaWorks Radio, and eyeware studio Isle of Eden.

Some spaces, including 44 New North Road and Level 1 at 46-48 New North Road are available for lease, while others have tenants with rolling monthly agreements or fixed-term leases expiring in 2025 and 2030.

Bayleys Metro Markets senior director Layne Harwood emphasises the immediate cashflow benefits offered by standing lease arrangements, including a billboard lease. “The flexibility to acquire these properties as a single portfolio or via individual sell-down adds further versatility for purchasers keyed into the long-term vision for growth.

“Approximately 72 percent of the portfolio is zoned Business – Mixed Use, allowing for flexible land use with a height variation control of up to 21m. The balance falls under the Business – Town Centre zone, with permitted heights of up to 18m enhancing its suitability for large-scale residential and commercial redevelopment.

“With Auckland facing ongoing housing supply constraints, and demand increasing for well-located, high-density living options, the subject properties represent a prime opportunity to leverage favourable planning rules to meet urban growth requirements.”

Bayleys Auckland Metro Markets associate director James Were adds that more than 100,000sqm of new commercial and residential development is set to transform the area around the CRL, making Eden Terrace one of the city’s most vibrant and sought-after mixed-use hubs.

“This is much more than just a commercial acquisition – it’s a front-row seat to Auckland’s next wave of urban transformation,” Were says. “With the CRL set to supercharge connectivity to Auckland CBD, high-intensity zoning paving the way for large-scale development, and a prime positioning in a booming locale, this is an unmissable opportunity strategic investors and proven developers to create something meaningful in New Zealand’s largest city.”