Buyers have the chance to unchain significant add-value and redevelopment potential as a high-profile former locksmith’s showroom goes up for sale on Auckland’s Dominion Road.
The Mt Eden property forms part of the bustling hub just south of the junction with Balmoral Road famed for its concentration of Asian and international eateries and entertainment spots.
With double-shop frontage of around 20 metres, the more than 620-square-metre site enjoys exceptional exposure to thousands of passing vehicles on one of central Auckland’s most important arterials.
Formerly home to a well-known showroom for locks, safes and alarms, is it now being offered to new owners with vacant possession.
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Bayleys salesperson Quinn Ngo said the standalone freehold site, with dual access from Dominion Road and Tennyson Street, presented attractive options for owner-occupiers, add-value investors, land bankers and developers.
“Flexible Business – Local Centre zoning under Auckland’s unitary plan primarily caters to the convenience needs of the affluent surrounding residential areas – though this precinct also draws visitors from much further afield. It also provides significant potential to add value or redevelop the site.
“Possibilities in the existing or enlarged buildings range from a new shop or food and beverage outlet to offices, a commercial services hub, or a small supermarket. A new owner-occupier would have the chance to install their brand in a supremely prominent location and be trading before the festive season.
“Of greater long-term value, the zoning also allows for intensification with buildings up to four storeys high, and apartments on upper floors. This gives developers the potential to emulate the many other successful mixed-use residential/commercial projects sprouting along Dominion Road,” said Ngo.
The freehold land and buildings at 599-601 Dominion Road, Mt Eden, Auckland, are being marketed for sale through Ngo and colleagues Karen Yung and James Chan, of Bayleys Auckland Central.
The property will be sold by way of a tender closing on Tuesday 24 September, unless sold prior.
Yung said the buildings of approximately 299 square metres sat on some 624 square metres of freehold land.
“The property comes with the added convenience of a lock-up garage, loading area and rear parking spaces. These, plus the dual street access, are sought-after advantages in this bustling area.
“Future business activities here will benefit from being part of one of Auckland’s most vibrant hospitality and commercial hubs. As well as being one of the city’s best-known arterials, Dominion Road is home to an ethnic diversity that has been described as a ‘world within a street’.
“Just 10 minutes’ drive from the CBD and very well served by numerous bus services, it is highly accessible to central and greater Auckland,” said Yung.
Chan said the site’s future development potential gave it an attractive added dimension.
“The exceptional location in desirable Mt Eden and flexible zoning will give buyers the chance to reap the rewards of a future intensification of the existing buildings, or full redevelopment of the site in the future.
“Demand for the residential component of any future mixed-use development will benefit from the site’s zoning for Auckland Girls Grammar and Mount Albert Grammar schools,” Chan said.
- Supplied by Bayleys
