Precinct Properties launches $160m Mt Eden project DOVA

Precinct CEO Scott Pritchard tells why the company will this year pay the Auckland Cuncil for land in Mt Eden where a big residential/retail scheme is planned.

Listen to this article — Precinct Properties launches $160m Mt Eden project DOVA

The $3.4 billion landlord Precinct Properties has launched its latest residential project: the $160 million Mt Eden DOVA where it aims to appoint a contractor soon to start work in this year’s final quarter.

Chief executive Scott Pritchard said the scheme was named DOVA for the first two letters in Dominion and Valley due to its Dominion Rd/Valley Rd corner location.

Precinct will later this year pay the former Eke Panuku for that 0.5ha site.

But it did not secure the very corner, leaving a somewhat awkward L-shaped footprint for its development with frontages onto the two streets yet not that seemingly crucial corner.

“You can only buy what’s for sale,” quipped Pritchard when asked about that.

Precinct apartment prices will start from the $600,000 range for a studio up to $2.5m for the level-five three-bedroom penthouse places, he said.

Pritchard on the Mt Eden site where the new apartments and shops will be built. Photo / Cameron Pitney

The project, which the Herald covered last year from the resource consent application, will have 106 carparks and six shops.

Proximity to Eden Park, being 4km from the CBD and in the densely populated residential area are pluses, Pritchard said.

The site is 5250sq m. Precinct plans 121 units in three blocks:

The land opposite Woolworths will have landscaped private garden in a courtyard.

Plans for the development of a site between Dominion Rd and Valley Rd in Mt Eden, Auckland. Image / Precinct Properties

That is to be called The Common: 960sq m of green space with a resident pavilion.

Shops will be developed on the two street frontages.

Plans for a new mixed-use commercial and apartment project by Precinct Properties at 198-222 Dominion Rd and 113-117 Valley Rd, Mt Eden, Auckland. Image / Barker & Associates

No contractor has been appointed on the job, expected to take two-and-a-half years.

Near the Dominion/Valley Rd corner, Precinct is fitting out the showroom for its new development. Scott Pritchard visited this week. Photo / Cameron Pitney

Pritchard said Kalmar was building Fabric stage two in Onehunga and York House in Parnell. Haydn & Rollett, GN Construction, Icon and LT McGuinness are working on other Precinct projects.

Precinct Properties plans to buy 198-222 Dominion Rd and 113-117 Valley Rd in Mt Eden for apartments. The land is outlined in red.

Across Auckland, the developer has 1602 student accommodation units and 227 apartments under construction, Pritchard said.

That gives 1890 residential homes being built by the NZX giant in Auckland.

DOVA – plans for a site between Dominion Rd and Valley Rd, Mt Eden, Auckland. Image / Precinct Properties

After previously being a solely commercial developer, it has only one commercial project on and that is in Wellington.

“But we are planning downtown,” Pritchard said of the only new Auckland office project Precinct has in the wings.

Last year, Precinct finished Beca’s new waterfront headquarters, the $300m Te Paeroa o te Kawau (the shoreline of the kawau).

Precinct’s nine current residential work and plans are:

Anne Gibson has been the Herald‘s property editor for 25 years, written books and covered property extensively here and overseas.