A tenanted office unit for sale in Ponsonby provides an opportunity for investors to add value or owner-occupiers to secure premises in one of Auckland’s most sought-after city fringe suburbs.
Hamish Paterson and Jonathan Lynch of Colliers International have been appointed to sell the property by deadline private treaty with offers closing at 4pm on Thursday June 27, unless it sells earlier.
Paterson says the 128.5m strata-titled freehold property at 47a Brown St is occupied by a well-established tenant on a month-by-month tenancy.
He says the property is significantly under-rented at $230 per sq m, earning $30,466 annually.
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The property is on the ground floor of a development, on a Business Mixed Use zoned site, that has been strata titled into four units.
The unit comprises a 128.5sq m office plus a 5sq m balcony.
Paterson says a new owner could capitalise on Auckland’s tight office market by seeking to negotiate a market rent rate of $350 or more per sq m.
Alternatively, an owner-occupier could take possession, taking advantage of the current low interest rate environment.
Paterson says it’s a tidy strata investment property.
“This superbly presented office unit is part of an architecturally designed, four-level commercial and residential building constructed in 2002.
“The property is in a semi-commercial area of Ponsonby, one of Auckland’s most affluent residential suburbs and also a hot spot of retail and hospitality outlets.
“It’s halfway down Brown St, which extends off Ponsonby Rd and is bounded by Richmond Rd and Douglas St.
“The modern interior offers an abundance of natural light, with full-height glazing to the street frontage overlooking a mixed-character streetscape.
“The property has two off-street carparks in an area where parking is at a premium. It’s also close to Auckland’s CBD and has good accessibility to transport services.”
Lynch says the property has been tenanted since completion by The Architecture Office.
“The business is a boutique architectural firm that offers a range of services including interiors and residential development.
“A new owner could leverage off the long-standing tenancy to negotiate a new market rent or take vacant possession of the office themselves.”
