Auckland developer Andy Davies is offloading six commercial properties to focus on other ventures.
He says he wants to focus on developing a 10-level student accommodation complex at 373 Karangahape Rd and an apartment hotel at the rear of the Ponsonby Central complex he has developed on 1.5ha on the corner of Ponsonby and Richmond Rds.
As previously profiled in NBR, Mr Davies, 55, also has other overseas investments, drives an old car and eschews a fashion wardrobe. He boasts he left school with just two school certificate subjects but soon became successful in real estate.
The Davies properties include three leased holdings for auction on March 5, and three other properties for sale by private treaty. They include the historic former Family & Naval Hotel on Karangahape Rd, a development site in Mount Eden, and a property with development potential on the corner of Victoria St West and Graham St in Auckland’s CBD.
The properties for auction include a 296m2 showroom office building at 10 Mount Eden Rd completed in 2009 and occupied by Exclusive Suit Hire & Sales; a 378m² corner site at 395 Mt Eden Rd, that he had intended to develop. He has resource consent for a new two-level retail and office building.
The properties are among 38 commercial and industrial offerings for sale by Bayleys.
Leah La Hood and Nigel McNeill of Bayleys Auckland have been appointed to market the properties.
Chris Hutching for NBR NZ Property Investor
Mon, 03 Feb 2014
Mon, 03 Feb 2014
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Davies quits properties to focus on apartments
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