Income on the ground and skyline in Mt Albert

A multi-tenanted residential investment with significant redevelopment potential is being presented to the market in one of Auckland’s most strategically positioned suburbs, benefitting from a sustained program of public and private investment in housing and infrastructure, Bayleys brokers say.

Bayleys Auckland director James Were, together with colleague Wei Wei Elder, is marketing the freehold of 999sqm (more or less) site at 29 Lloyd Avenue in Mount Albert for sale by deadline, closing at 4pm on Tuesday 28th October 2025 (unless sold prior).

Were says that with nearly 23 metres of frontage, the property sits within the Residential – Terrace Housing and Apartment Buildings (THAB) zone - the most intensive residential zoning under the Auckland Unitary Plan.
“Favourable locational dynamics also align with the Government’s National Policy Statement on Urban Development (NPS-UD) and Auckland Council’s recently approved Plan Change 120, which both emphasise intensification around key transport corridors, including the nearby Mount Albert Train Station.

“Currently configured as four self-contained flats generating approximately $110,760 per annum, the property provides a strong holding income while future development plans are advanced.”

The improvements, totalling 397sqm (more or less), include a front bungalow split into two two-bedroom units with garaging. There is also a rear 1970s block with a three-bedroom flat above and a one-bedroom flat below - all of which meet Healthy Homes Standards.

“The property benefits from strategic access to the Mount Albert Village retail and dining precinct on New North Road, motorway interchanges, and leading schools, including Mount Albert Grammar.

“Elevated positioning on Lloyd Avenue also offers the prospect of inner-harbour and city skyline views, further enhancing future development outcomes and long-term value.

“Available for the first time in 50 years, opportunities of this scale are tightly held in the suburb. Investors can collect income today, while securing a site that is future-proofed by policy settings and a comprehensive programme of infrastructure investment across the community.”

Were says that Mount Albert is among the suburbs earmarked for transformation under the Government’s NPS-UD. “The suburb will directly benefit from access to the $5.5bn City Rail Link, which, once complete, will deliver trains every eight minutes on the Western line, vastly improving citywide connectivity for residents of Mount Albert.”

Alongside this, Te Kukūnga Waka - the regeneration of the former Unitec campus on Carrington Road - will see around 4,000 new homes delivered over the next 10-15 years, reshaping the area’s housing landscape and supporting sustained development appetite for the community as a key metropolitan hub.

Were says that few suburbs offer such a compelling combination of zoning capacity, transport connectivity and large-scale regeneration activity. “With secure income in place, this is the type of landholding that allows investors and developers to participate in Auckland’s growth story with confidence.”