Track Record
568 Ormiston
Road
Flat Bush, Auckland
Developer
Templeton Group
Location
Flat Bush, Auckland
Scale
~360 Lots
Project Overview
568 Ormiston Road was a substantial landholding within the Flat Bush growth corridor, comprising approximately 4.35 hectares of land with an existing dwelling.
Positioned within an area undergoing sustained urban expansion, the property sat at the intersection of lifestyle use and future development potential. While not immediately evident as a development site, its scale, location, and proximity to emerging infrastructure provided a foundation for longer-term value.
Assets of this nature are often difficult to benchmark through conventional comparable sales, requiring a broader understanding of both current use and future potential.
My Role
I was engaged by a retiring owner to advise on and manage the sale of the property, where there was limited clarity around its underlying value due to the absence of directly comparable transactions. To establish a pricing framework, I developed a residual land value model, assessing the site from a future development perspective rather than as a conventional lifestyle holding. This provided a clear basis for positioning and enabled a more informed approach to market. The strategy focused on identifying a purchaser capable of recognising the site’s longer-term potential, rather than approaching the sale through a traditional lifestyle lens.
Outcome
The property was successfully transacted, achieving a record result for the area at the time.
The outcome reflected a considered repositioning of the asset, securing a purchaser aligned with its longer-term potential and delivering a strong result for the vendor.
Perspective
Where comparable sales are limited, value must be established through analysis rather than reference.
A considered understanding of future potential allows assets to be positioned beyond their immediate use, enabling alignment with purchasers who are able to recognise long-term value.