A number of heritage buildings on Auckland’s Queen Street have been put up for sale offering architects and developers an “exceptionally rare” opportunity to transform the CBD.
Fast food chain McDonald’s – which opened the country’s first-ever McDonald’s store in 1977 in the former Auckland Savings Bank (ASB) building – has now relocated from the store along with additional buildings surrounding it.
The buildings are “architectural examples” of the Victorian period left along the city’s midtown region and offer favourable usage overlays for redevelopment.
The property is being marketed through an expression of interest campaign by the real estate company Bayleys.
“We expect strong interest from developers with heritage property experience, and buyers who recognise the value of owning this flagship offering, as vacant sites for sale in Queen Street are exceptionally rare, let alone with this property’s history,” said the director of Bayleys’ capital markets, Layne Harwood.
He added any redevelopment will require “partial demolition” and a “carefully managed refurbishment program” that includes seismic upgrades which meet the heritage requirements of the Queen Street buildings.
Under the Auckland Unitary Plan, the original ASB building is classified ‘Historic Heritage B’ with the facade, staircase, internal boardroom, and bank chamber ceiling also protected through a Heritage New Zealand Category 1 classification.
Meanwhile, the properties sit close to the midtown Te Waihorotiu Station currently under construction and which is expected to become the country’s busiest rail station when complete, with entrances on Victoria Street and Wellesley Street.
“This will provide an anchor to the wider area which is witnessing significant infrastructure investment, public amenity upgrade, and burgeoning hospitality, cultural and entertainment options and it further underpins the intrinsic value of this central Queen Street location.”
Furthermore, an integrated hotel and apartment complex could be established on the site, blending the heritage features for a unique guest or resident experience.
