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Downtown Auckland is going through huge transformation with its various streetscape and transport projects. But in stark contrast, several plots of land worth hundreds of millions of dollars have sat as car parks since buildings were knocked down in the 1980s.
The Elliott St car park sits on a 4417 square metre plot of land, valued at $82.5 million.
The land has sat undeveloped as a car park - where an hour will cost you $19 - since the Royal International Hotel was demolished in 1987.
It was purchased by Singapore company NDG Asia Pacific (NZ) Limited for $53m in 2012, and in 2017 the company was given approval by the Overseas Investment Office to build and operate a 52-storey, five- star Ritz-Carlton Hotel, with 300 guest rooms, four floors for hotel facilities, six for retail and five for car parking.
The development is expected to cost $350m, with the start of construction dependent on the completion of City Rail Link. However, the resource consent for the tower is due to expire in October.
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We warmly invite you to view this fabulous property which includes:
* 3x double bedrooms
* Brand new carpets, HRV Ventilation system & heat pump
* Double internal access garage
* Excellent roadside appeal with exclusive use driveway
* Point View School & Somerville Intermediate School zoned
* Single level, brick & tile construction
* Level, user friendly section
Open Homes: Sat & Sun: 1.00pm - 1.30pm
Auction: 01 June 2021 - 62 Highbrook Drive, East Tamaki