Mixed-use development to breathe new life into under-used Mt Eden site

Long ago identified as an ideal spot to build up and make the most of fantastic central isthmus connections, an under-used site on the corner of Dominion and Valley Roads in Mt Eden will soon have more homes as part of an exciting new mixed-use development.

Eke Panuku Development Auckland today announced that it has signed a conditional development agreement with Precinct Properties for the sale and redevelopment of the 5,250 sqm residential and commercial site at 198-222 Dominion Road & 113-117 Valley Road.

The site is set for a mixed-use development, with shops on the ground floor and apartments on top. With carefully considered, high-quality design, the development will provide much-needed homes, while building on and enhancing the character of Dominion Road - and providing a boost for local businesses at the same time, with more customers living close by.

Sustainability will be a key feature of the development, with Green- and Homestar certification part of the design.

Eke Panuku General Manager for Development, Allan Young, is pleased that Precinct has branched out into the residential apartment space, as it offers high-quality developments that contribute positively to the wider area and city overall.

“Precinct is already well known for the quality of its city centre developments, both in Auckland and Wellington, but this opportunity will see the same quality come to the isthmus, reinvigorating a site that holds huge potential.

“We’re proud of attracting significant investment like this into Tāmaki Makaurau, providing more housing choices for Aucklanders and acting as a catalyst for further investment.”

This site is well situated for new, higher density housing, especially as part of mixed-use development. Located in a well-connected part of the Auckland isthmus, it’s only 4km from the city centre and is served by 4 frequent bus routes. It’s also close to Eden Park and the Kingsland train station.

High-quality housing options close to key destinations will enable residents to take advantage of well-connected public transport services while also living within a short walk of shops, workplaces, schools, restaurants, and public spaces.

Scott Pritchard, Precinct CEO said, “Entering the multi-unit residential development market is a natural extension of Precinct’s core business, which is focused on high quality mixed-use precincts, and complements our overall strategic direction.”

“We are delighted to secure this well-located residential development opportunity within Auckland’s city fringe. The Dominion and Valley Road project represents a strong strategic fit for Precinct’s residential strategy.

“We look forward to again work in partnership with Eke Panuku and together engaging with the wider community to deliver this development.”

Eke Panuku worked closely with Bayleys Director Gerald Rundle, alongside their Development Land, and Auckland Metro Sales teams, in the search for an appropriate development partner for this city fringe site. Following initial market feedback, some revisions to the original scope of the project helped broaden the appeal of the site and its future potential.

“With a landholding of this size and scope it was important to find the right development partner to ensure the essential outcomes, design guidelines and design review processes would meet the needs for new homes and commercial function in an appropriate way,” explains Rundle.

“We are delighted to have been able to facilitate the go to market process and excited to see Precinct commit to further growth in the residential apartment sector. I'm looking forward to seeing this key site evolve over time to a quality, high-density, mixed-use development that respects the character and heritage of this Dominion Road location.”

As the development agreement is conditional, the transaction is only expected to be finalised early 2025. More information on the project will be provided in due course.