Bayleys is seeking tenders from prospective purchasers for property in 41 Wharf St and a lot in 76 Anzac Ave.
An online listing for 41 Wharf St described the 3961sqm parcel as offering “significant potential for a standout development project,” along with “unparalleled convenience and accessibility” near the CBD and harbourside industrial area.
“This highly sought-after location is in high demand with very few available sites available in the market.
“Businesses looking to establish a visible presence in a strategic harbourside location will find this property ideal for development opportunities.”
The land was formerly earmarked to house a proposed 28-storey luxury five-star waterfront hotel, that came with a price tag of $100 million.
It was announced in May 2012 with plans to offer 164 apartments, 215 rooms and 121 carparks.
But the project was scrapped in 2014 when Queenstown developer Jing Song — a director of Betterways Advisory Ltd — tore up an agreement with the Dunedin City Council, accusing them of failing to produce a completed traffic report on time or keep her informed.
At the time, Dunedin Mayor Dave Cull accused Ms Song of “abrogating this agreement on a pretext” and suggested she must have realised that traffic problems posed by the hotel were “insurmountable”.
Bayleys commercial broker Muir Gold said 41 Wharf St’s location was “second to none”.
Significantly sized flat land parcels sitting so close to the CBD were rare in the Dunedin commercial market and was “an exceptional opportunity” for a savvy developer, he said.
Meanwhile, the lot in Anzac Ave was described online as “an outstanding strategic opportunity”.
Boasting approximately 3465sqm with 86sqm frontage to Ravensbourne Rd (State Highway 88) in a “coveted” location, it offered a rare opportunity for activities including visitor accommodation, industrial, hospitality and retail uses along with education and inner city residential developments.
“With a significant shortage of appropriately zoned land in the CBD, this prominent Anzac Ave site is a valuable find, with unparalleled potential for significant development,” the listing said.
Bayleys commercial broker Rachel Jones said they believed the value of 76 Anzac Ave lay in its “significant development potential”.
“The sale of the property is an exciting opportunity for developers to purchase a significant landholding in a strategic location, neighbouring Emerson’s Brewery and sitting in close proximity to the University of Otago and Forsyth Barr Stadium.”
Larger parcels of freehold land were generally scarce in the market, and Bayleys was excited to work with local and national developers, she said.
tim.scott@odt.co.nz
