Commercial

The birth of a suburb

Angus McNaughton took his family to the Gold Coast last month, but as he gazed across the Pacific, a 24ha block of land in the centre of Auckland was never far from his mind...

Friday, July 16th 2004

The knuckle-whitening Sylvia Park development, which has consumed all his energies since he joined the Kiwi team working on the project five years ago, had been quite enough.

For 10 years, Kiwi has been promising the market and investors it will transform a site covered in a collection of elderly military storage sheds into a goldmine worth $300 million.

At an intersecting motorway network, the group will soon start a six-year project, creating a new town centre.

The development, revealed yesterday, will have hundreds of apartments, parking for 3000 vehicles, a multiplex cinema, supermarkets, a chain of large stores such as The Warehouse, office blocks for up to 5000 people, restaurants and cafes - all on a block of land the size of 34 rugby fields.

Millions of people are expected to pass through the development every year.

On Tuesday, Kiwi applied to the Auckland City Council for the project's resource consent.

Read More - Opens in a new window
Unity First Home Buyer special 3.99
ICBC 4.25
SBS FirstHome Combo 4.29
Co-operative Bank - First Home Special 4.35
TSB Special 4.39
Co-operative Bank - Owner Occ 4.45
ANZ Special 4.49
ASB Bank 4.49
SBS Bank Special 4.49
Unity Special 4.49
Westpac Special 4.49
Westpac Special 4.45
SBS Bank Special 4.49
BNZ - Std 4.49
Kiwibank Special 4.49
TSB Special 4.49
AIA - Go Home Loans 4.49
ANZ Special 4.49
ASB Bank 4.49
Co-operative Bank - Owner Occ 4.49
ICBC 4.59
Wairarapa Building Society 4.59
SBS Bank Special 4.99
Westpac Special 4.99
ICBC 4.99
BNZ - Std 4.99
AIA - Go Home Loans 5.15
ASB Bank 5.15
Co-operative Bank - Owner Occ 5.19
ANZ 5.39
TSB Special 5.39
Kiwibank Special 5.39
Kainga Ora 5.49
SBS FirstHome Combo 3.44
AIA - Back My Build 3.54
SBS Construction lending for FHB 3.74
CFML 321 Loans 4.25
Co-operative Bank - Owner Occ 5.30
Co-operative Bank - Standard 5.30
ICBC 5.39
Heartland Bank - Online 5.45
Kiwibank - Offset 5.80
Kiwibank 5.80
ANZ 5.89

More Stories

Market recovery signals consistent with interest rate falls

Monday, November 03rd 2025

Market recovery signals consistent with interest rate falls

The early stages of a property recovery could have appeared in the past two months, Kelvin Davidson, Cotality chief property economist says.

Another swipe at property investors

Thursday, October 30th 2025

Another swipe at property investors

Labour’s capital gains tax of 28% on residential and commercial property won’t deter investors who invest for cashflow, Nick Gentle, iFind Property founder and buyer’s agent says.

Capital gains tax almost irrelevant – English

Monday, October 20th 2025

Capital gains tax almost irrelevant – English

Former Finance Minster Bill English says the days of guaranteed capital gains in the housing market are over,

Thursday, October 09th 2025

New rules for meth contaminated houses

REINZ welcomes regulation of methamphetamine contamination in rental housing.