Newmarket shines again as Hong Kong developer buys 1.4-hectare site!

Newmarket is Auckland’s busiest and most fashionable suburb.

The Westfield shopping centre is under construction.

News emerged today that a property developer with Hong Kong backing has bought the 1.4-hectare property housing The Warehouse in Newmarket, with plans to create a mixed-use complex incorporating a hotel, offices, apartments and shops.

The Hong Kong-backed company, Fortune Arising, was established in 2017. However, its Auckland-based development manager, Huan Ma, said the project was at the initial planning stage and no application for resource consent had yet been made to Auckland Council.

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Developer Fortune Arising also owns 6 neighbouring properties, including 11, 13, 15 and 17 Railway St, and 80 Broadway.

Ma said the company bought the land about 3 years ago and was investigating the most suitable development options. No final decision had been made on demolition, maintenance or redevelopment.

A potential development scheme from architectural firm Ignite shows existing retailers such as The Warehouse and Noel Leeming being retained, with new arrivals including a New World supermarket. It also includes apartments, a boutique hotel, offices and underground parking.