Emerging from the shadow of the now-glossy Downtown, Wynyard Quarter and Britomart precincts, Auckland’s Midtown area is getting a glow-up off the back of the $5 billion City Rail Link (CRL) mega-project, scheduled to open sometime next year.

In the latest edition of Bayleys’ Total Property, the firm’s Auckland Metro senior director Alan Haydock says the CRL will help Auckland CBD get its mojo back.

Haydock says Te Waihorotiu Station, with entrances on Victoria Street and Wellesley Street, is forecast to be the busiest in the new CRL network, with early movers in the commercial property sphere leveraging the precinct’s expected gains. At least 18 private-led developments are planned, under construction, or recently completed, within a five-minute walk of the station.

“Functional and thoughtful development around the core stations will help take central Auckland to the next level after what has been a particularly tough market for commercial real estate, with few CBD buildings sold, and recent Bayleys data showing 13 percent retail vacancy,” says Haydock.

“Other metropolitan cities around the world have proven that greater connectivity and access bolsters land value appreciation and property demand around major transit hubs, so there’s tangible value to be unlocked from the CRL.”

Auckland Council director of resilience and infrastructure, Barry Potter says the CRL project is expected to deliver close to $12 billion in economic benefits to the city and will be handed over in 2026. There’s still a significant amount of work for CRL Ltd, Auckland Transport and KiwiRail to do before Aucklanders can ride through the tunnels, with the collective focus on ensuring safe, reliable train services.

“International experience shows this can be the most challenging and complex phase of a rail project, and the further we get through that programme of work, the more certainty we will have on opening timeframes.

“Capacity will not be fully utilised upon opening, but it allows for growth in demand over subsequent years, with the CRL having a future-proofed capacity of 54,000 possible passengers per hour.”

Data sourced by Auckland Council earlier this year shows a pipeline of around $6.8 billion of private sector investment across the city centre, roughly evenly split between offshore and onshore investors. Around $2.8 billion of that investment is located in the Queen Street Valley (Waihorotiu) precinct, which includes Midtown.

Potter says while important to Auckland’s future, the CRL is not the only lever to drive Auckland forward, with billions of dollars allocated to climate resilience, wastewater capacity, and other transport projects.

“It all adds up to a region that can grow with confidence, where the people who live here will have more time back from their commutes to do what they love, more money to invest in local business, and more affordable housing, showing that Auckland is a good long-term bet.”

International property developer Malaysian Resources Corporation Berhad (MRCB), along with New Zealand-owned development and project management company RCP, will deliver The Symphony Centre, a residential and commercial mixed-use development, above Te Waihorotiu Station at the corner of Wellesley Street and Mayoral Drive. It will also refurbish the neighbouring heritage-listed Bledisloe House, with the complementary projects to be linked by vibrant, street-level, activated public laneways.

RCP Head of Development Management, Boris Babic, says Midtown features several unique heritage assets, such as the Civic Theatre and Town Hall, which are protected, will never be built out or demolished, and arguably have never had their identity embraced.

“This gave MRCB a rare opportunity to embed itself within the urban heart of the city, leveraging its international understanding of the economic upside available with a project of this scale,” Babic says.

Meanwhile, Heart of the City chief executive, Viv Beck says it’s how Aucklanders use the CRL and what happens next that will help shape the future of the city centre.

“While the CRL is a vital part of the city centre’s future, it’s just one piece of a larger puzzle, and our city centre has opportunities and challenges that require a coordinated and multi-layered response.

“Real progress will require cohesive, urgent action between central and local government, and the private sector to leapfrog from where we are today.”

A pipeline of new hotel developments is progressing in the midtown area, following the recent openings of IHG Hotel Indigo, JW Marriott Auckland, and Horizon by SkyCity, and the much-anticipated International Convention Centre, scheduled to open early 2026.

Bayleys National Director Office Leasing, Matt Lamb, says Midtown is also emerging as a desirable base for office occupiers.

“We’re going to witness some exciting change as occupiers recognise the virtues of the Midtown area off the back of the CRL, and its capacity to change the face of business in the city.”