A character villa on the main arterial connecting Auckland’s Central Business District with the fashionable suburbs of Ponsonby and Herne Bay offers landlords, strategic investors, and owner-occupiers a prime opportunity to secure a commanding standalone premises with significant potential.
Bayleys Asian Markets director James Chan is marketing the 457sqm (more or less) freehold site at 93 College Hill for sale by international tender, closing at 4:00 pm on Tuesday 12th December 2024 (unless sold prior), alongside colleague Oscar Kuang.
“Occupying a position atop one of the city’s highest trafficked central connectors, the versatile villa has been utilised as an elegant office for a professional services tenant, with recent vacancy presenting a myriad of opportunities, including further commercial use, conversion to a live/work space, or redevelopment to leverage favourable zoning categorisation.
“The villa’s 143sqm (more or less) floor area retains its elegant architectural character, with construction dating back to the early 1900s evident in its grand high-stud ceilings, original timber flooring, ornate craftsmanship, and double-hung sash windows.
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“There is onsite car parking – a growing commodity in central adjacent suburbs, which enhances accessibility for clients, employees, or residents.”
Chan says that while the property serves well as commercial accommodation, its flexibility lends it to use as live/work accommodation, particularly given a growing trend towards occupiers who seek adaptable spaces near urban amenities.
“Favourable Business – Mixed Use zoning provides further flexibility, allowing future owners to explore a range of applications in response to market demand. This zoning enhances the property’s usability while aligning with broader trends, favouring multi-functional urban spaces that can easily sustain diverse lifestyles and business requirements.
“This capability to support a mix of activities within a high-profile, accessible location makes the subject property an attractive prospect in today’s market.”
Freemans Bay is one of Auckland’s oldest established communities, growing in mixed-use capacity. The location, minutes from Ponsonby’s ‘Golden Mile’ of retail, restaurants, and professional services, affords exceptional convenience and high visibility, well-serviced by public transport.
Bayleys Auckland broker Oscar Kuang says a mix of heritage architecture characterises the area alongside a growing number of contemporary mixed-use developments. “This location benefits immensely from its elevated position, proximity to Victoria Park and the bustling waterfront precinct. Significant growth is underway at Wynyard Quarter, including major projects by NZX-listed property investment specialist Winton.
“Up the road at Ponsonby’s Three Lamps, a vibrant mixed-use redevelopment is also slated, adding further appeal for various purchasers who are keyed into future growth prospects.
“The sale of this property arrived amidst recovering market demand for city-fringe assets with a commercial edge. Increasing demand for mixed-use accommodation signals investors’ appetite for resilient and versatile assets, which continue to perform various functions through volatility.
“This villa’s flexibility, combined with the region’s continued commercial and population growth, positions it as a prime opportunity for savvy investors and business owners seeking to capitalise on the area’s immediate and long-term value potential.”
- Supplied by Bayleys
