A fully refurbished commercial building that includes a four-bedroom apartment, office space and secure car parking is being offered to the market for sale.
50 Aitken Terrace, Kingsland, has 877sq m of total gross floor area that is spread across four levels. The property sits on a 403sq m freehold site that is zoned business-mixed use zone under the Auckland Unitary Plan.
The property is available with vacant possession, short-term holding income, or alternatively an option for a long-term lease exists giving prospective purchasers an array of options.
There are two open car parks to the front of the building while the ground floor can accommodate eight secure car parks, some of which are stacked.
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With a frontage to Aitken Terrace of about 15m, the property rises above Aitken Terrace in a southerly direction, with elevated northerly views available from the first and second levels.
Surrounded by a thriving commercial hub and popular Auckland suburbs Ponsonby and Mount Eden, Kingsland is a sought-after area that includes a bustling hospitality precinct. The Kingsland train station is in walking distance of the subject property, while several buses service the nearby New North Road.
The business-mixed use zone is typically located around centres and along corridors served by public transport. It also applies to areas where there is a need for a compatible mix of residential and employment activities.
Colliers directors Ben Jamieson and David Burley have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm, June 18, unless sold prior.
The ground floor parking and storage area spans 188sq m, while the 273sq m first-floor office is a predominantly open-plan space with a boardroom, kitchenette and walk-in safe.
The second floor, which measures 273sq m, and the 143sq m mezzanine level have been extensively fitted out as a four-bedroom, four-bathroom apartment, which has been finished to an extremely high standard.
Polished concrete floors complement this area together with a modern kitchen. There is a scullery, laundry area, and separate lounge area. The mezzanine level is accessed via stairs and comprises three generous bedrooms with en suites.
Jamieson, associate director of investment sales at Colliers, says acquiring a fully refurbished property will be highly appealing to discerning buyers.
“The opportunity to purchase this asset with vacant possession means the new owner could rapidly make their desired moves,” Jamieson says.
“On the other hand, the holding income may prove valuable as a short-term rental stream, while prospective buyers plan for the future. The generous parking facilities will also be of particular interest.”
Burley, Auckland director of investment sales at Colliers, says the location will be appealing for buyers given its connectivity.
“The Auckland CBD is readily accessible from Kingsland and the suburb benefits from the motorway network offering a path to all corners of Auckland,” Burley says.
“The Kingsland village and its busy hospitality scene is a short walk away, while Eden Park can also be reached quickly allowing future occupants access to some of the city’s most exciting sporting events.
“This unique offering has something for a range of different buyers, and we encourage all interested parties to reach out and discuss their options.”
- Supplied by Colliers
