A two-level building constructed in the late 1800s, which houses The Kings Arms Tavern in Eden Terrace, Auckland, is up for sale as a prospective residential redevelopment site.
The property at 57-59 France St is being marketed for sale by Bayleys Auckland agents Alan Haydock, Damien Bullick and Matt Gordon through a tender process which closes on October 26 - unless it sells earlier by negotiation.
The tavern has been in operation for more than 25 years on the 2112sq m freehold site at 57-59 France St, says Haydock.
"The property occupies a prime north-facing corner position with three frontages, overlooking Ian McKinnon Drive which links upper Queen St with Dominion Rd, on the corner of Karaka St and France St.
"It is zoned Mixed Use, and under the Auckland Unitary Plan, this benefits from and additional height overlay allowance of 32.5m. This is one of the most favourable height overlays in the city fringe.
"The proposed new 32.5m height limit is considerably higher than the current mixed use zoning which has a maximum height restriction of 15m.
"The northerly facing aspect has views across to the Karangahape Rd ridge, and once developed, would offer spectacular views across the Waitemata Harbour over to the North Shore," says Haydock.
Under the pending Auckland Unitary Plan, the main purpose of the Mixed Use zoning is to encourage a mix of compatible residential and non-residential activities that support city centre, metropolitan and town centre zonings, while ensuring the activities add to the vitality of the area.
Auckland Council's new Business Mixed Use zoning includes offices, retail entities, commercial floor space, residential dwellings, entertainment facilities, healthcare facilities, light manufacturing, warehousing and storage.
Bullick says the Kings Arms premises comprise a front bar, a lounge bar where the live bands play, and the outdoor beer garden. The upper level is configured into residential accommodation.
The site would offer spectacular views from a residential redevelopment across the Waitemata Harbour over to the North Shore.
"Over the years, the venue has played host to an incredible number of local and international acts, including a now famous appearance by the White Stripes," he adds.
Bullick says a lease is in place to the Kings Arms Tavern "which could be tailored to suit the requirements of the new owner, depending on their plans for development of the site".
Gordon adds that, due to the location, aspect and favourable zoning, "this site presents one of the most exciting residential development opportunities which has been available in the Auckland city fringe for some time."
The evolution of Auckland city-fringe residential accommodation has escalated in recent years, with the reconfiguration of such commercial sites as:
• Hopetoun Residences, which has seen the creation of 91 dwellings in what was previously a low-rise commercial office bloc.
• Hereford Residences, which involved the construction of 119 dwellings in what was formerly the Telecom HQ premises, and
• Grace Quarter, by Victoria Park, which is transforming from a low-level commercial and light industrial tenancy into a high-end residential apartment complex.
"The Kings Arms site is just a short walk into the Auckland CBD and just a few hundred metres from the Southern motorway northbound off-ramp and a kilometre from the motorway's southbound on-ramp," says Gordon.
"The surrounding area has a mixed nature of properties - including medium-rise commercial office and apartment buildings from the 1980s through to the 2000s.
"The Auckland City Rail Link will provide additional transport links for the general area - linking Downtown Auckland with Eden Terrace.
"The station at Beresford Square off Karangahape Rd will be a convenient walk from this location," says Gordon.
