An unmatched opportunity to acquire an extensive consolidated landholding has emerged on New Zealand’s most exclusive street, offering strategic investors and luxury developers a rare chance to deliver Auckland’s next residential landmark.

John Bayley, Suzie Wigglesworth, and Gavin Lloyd of Bayleys Real Estate are marketing the 3,332sqm (more or less) freehold parcel at 21, 23 (A&B), and 25 Paritai Drive for sale by international tender, closing at 2:00 pm NZST, Wednesday 12th February 2025 (unless sold prior).

Bayleys founding director John Bayley says it is an unparalleled canvas for residential development, located within one of the country’s most reputed communities. “With expansive views over the Waitematā Harbour from Okahu Bay to Rangitoto Island and beyond, the property presents a uniquely New Zealand opportunity to create a bespoke luxury residence or a boutique high-end multi-unit development in a prominent dress-circle location.

“Large, consolidated sites like this are incredibly rare, with the significant land parcel providing an ideal foundation for something extraordinary in a market where high-value residences are in short supply and increasing demand. The location alone guarantees that any project here will be of the highest calibre, whether it’s a single-family estate to endure for generations or a boutique residential project.”

Strategically positioned with a north-easterly aspect and commanding elevated views, the site offers both privacy and proximity to the finest amenities across the Eastern Bays, including the Ōrākei Marina, Ōrākei Domain, golden sands of Okahu Bay, Tamaki Drive boardwalk, and Bastion Point promontory.

The tiered site, comprised of three separate titles, currently houses four residences, each offering a highly coveted position elevated quietly above Tāmaki Drive and the Okahu Bay beachfront.

Bayleys national director of Projects, Suzie Wigglesworth, describes the location as a once-in-a-lifetime opportunity for developers to create exceptional residences that reflect the exclusivity and timeless appeal of the area. “With its unrivalled proximity to parklands, pristine waterfront reserves, beaches, and Auckland’s finest retail, dining and entertainment precincts – this site offers a lifestyle like no other in a location that promises to redefine luxury living for sophisticated buyers.

“Significant demand remains for elite, high-value property in premium residential locations, despite recent market disruption.

“There is a very limited supply of high-value homes nationwide, leading to high competition for a comparatively small collection of elite properties. This prime landholding offers an opportunity for investors to meet that demand, delivering a project that will stand as a new benchmark for luxury living. A unique combination of location, scale and unrestricted views makes it a truly peerless opportunity.”

The existing improvements provide a chance to collect holding income, allowing developers the flexibility to manage the property while planning for future development.

Bayleys general manager of Projects Gavin Lloyd says the dwellings – which range between three and four bedrooms – offer a glimpse into the location's potential.

“Auckland is one of the world’s most unique coastal cities, and there is consistent international interest in our premium residential offerings that promise a low-key-yet-no-less-luxurious coastal lifestyle. Steady appetite for high-end residential property despite recent market volatility reflects the enduring value of such assets, demonstrating the extraordinary opportunity here for a motivated individual or a developer to create an iconic stamp on the Auckland residential landscape.

“The location on the country’s finest street, combined with its size, potential and immediate palatial appeal, ensures any development would attract considerable interest. This rare window of opportunity defines a lifetime for those with the vision to unlock the full potential of this inimitable landholding – delivering the next hallmark in Auckland’s luxury residential landscape.”