Dual-title opportunity by rail and zoning

A strategically positioned mixed-use portfolio in Auckland’s inner-west is being brought to market, offering add-value investors and future owner-occupiers a rare dual-title opportunity directly opposite a metropolitan rail station, within a suburb entering a long runway of transport-led growth and intensification.

Bayleys Metro Markets director Phil Haydock is marketing the properties at 920 and 922-926 New North Road, Mount Albert, for sale by tender, closing at 4:00 pm, Tuesday, 10th March 2026 (unless sold prior), alongside colleague Tommy Zhang.

Comprising two adjoining freehold titles across a combined 524sqm (more or less) of land, the parcel provides immediate holding income with long-term flexibility – a combination Haydock says is increasingly sought-after by investors as capital becomes more selective and execution-focused.

“Five tenancies across retail and residential uses return approximately $131,480 plus GST per annum, delivering split risk cashflow with scope to improve performance through refurbishment or leasing of a small vacancy.

“At its core, the opportunity is defined by control. Dual titles allow future flexibility in staging, redevelopment or repositioning strategies, while existing income provides a practical foundation from which those decisions can be made deliberately rather than defensively.”

The property at 920 New North Road comprises approximately 175sqm over two levels, leased to a single tenant with a restaurant on the ground floor and residential accommodation above.

The adjoining 922-926 New North Road provides 342sqm (more or less), sustaining three retail tenancies on the ground floor and a recently refurbished three-bedroom apartment above. Four on-site car parks to the rear enhance functionality and tenant appeal in a tightly supplied town-centre environment.

Haydock says the lease structures include near-term events and market-based review provisions, creating genuine scope for rental revision and active management. “Rather than being fully ‘set-and-forget’, the portfolio offers incoming owners the ability to shape income outcomes over time – a quality increasingly valued in mixed-use city-fringe assets.”

Located directly opposite the Mount Albert Train Station, the properties sit at the front edge of Auckland’s next phase of transport-enabled intensification. The City Rail Link (CRL), once fully operational, is expected to materially increase service frequency on the Western Line, strengthening connectivity to the CBD and reinforcing demand for residential, retail and service use within walkable station catchments.

Bayleys Metro Markets director, Tommy Zhang, says that connectivity is an advantage matched by unprecedented investment nearby. “Te Kukūnga Waka – the regeneration of the former Unitec campus on Carrington Road – will deliver around 4,000 new homes over the next decade, reshaping Mount Albert’s population base and supporting sustained demand for town-centre activity.

“Few Auckland locations offer this combination of rail access, scale of regeneration, and zoning headroom within an established village setting.”

Zoned Business – Town Centre, the property sits within a walkable station catchment where recent planning settings, including Plan Change 120, have contemplated increased development intensity in locations served by rapid transit.

Zhang says that while planning frameworks remain subject to change in an election year, building heights of up to 34.5m may be achievable over time, offering dual position as a long-term intensification opportunity.

“The location on New North Road – a key arterial linking Mount Albert to Auckland’s CBD – provides strong exposure for businesses, proximity to the North-Western Motorway, and a full suite of surrounding amenities, including retail, schooling, parks and community facilities. Mount Albert continues to evolve from a suburban centre to a metropolitan node, supported by a huge program of both private and public investment in local infrastructure.”

“Importantly, the zoning supports a wide range of uses, allowing future development or repositioning to respond to market demand rather than forcing a single outcome. That flexibility, combined with dual title ownership, gives purchasers control over timing, scale and end-use strategy.

“With income in place, rail connectivity at the door, and zoning that enables ambition, 920 and 922-926 New North Road offers a platform for purchasers seeking control in a location where long-term fundamentals are aligned.”