A low-rise commercial office premises with development upside in the sought-after city-fringe suburb of Epsom, featuring Double Grammar Zone, has been placed on the market for sale.
Located at 190 Great South Road, the offering encompasses 1,095 square metres (more or less) of office accommodation spread over two levels, with 28 onsite car parks.
The property occupies 1,587 square metres (more or less) of freehold land zoned Business – Local Centre, with an 18 metre height overlay.
Featured in Bayleys’ latest Total Property portfolio; the property is being sold with vacant possession by tender, closing at 4pm, Tuesday, 27 September 2022, unless sold prior.
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Jill Downie, a salesperson with Bayleys’ Auckland and City Fringe team, says the listing will appeal to a range of potential purchasers, including commercial occupiers, investors, those looking to add value, and developers.
She is marketing the property with colleagues Alan Haydock and Damien Bullick.
“The modern, standalone property encompasses two floors of office accommodation with a lettable area of 1,095 square metres (more or less), plus covered and open basement car parking in the highly-desirable suburb of Epsom, which offers easy access to the Remuera Train Station, motorway links, and the CBD,” Downie says.
“The property has been well-built with excellent A-grade seismic strength, assessed at 109 percent of New Building Standard, which offers immediate value for commercial occupants.”
The building was originally constructed in the 1980s on the rectangular-shaped site with a wide street profile on Great South Road and also to Patey Street at the rear.
Alan Haydock, director of Bayleys Auckland City and Fringe team, says the H shaped building comprises 567 square metres (more or less) of well-presented ground floor office and 528 square metres (more or less) of first floor office accommodation, with abundant natural light.
“While the property presents an excellent opportunity for occupiers, one of its most desirable attributes is undoubtedly its landholding in an excellent location within the CBD city fringe,” Haydock says.
“The property is located within the Double Grammar school zone area for Auckland Grammar and Epsom Girls, which increases its appeal for future mixed-use development, while a short stroll from bus links, the Market Road Train Station, local shops and cafes.
The underlying Business - Local Centre zoning reflects a high level of connectivity to public transport and provides for the local convenience needs of surrounding residential areas.
Downie says future development could entail retail, commercial services, and food and beverage, typically up to four levels, enabling residential use on upper floors, which is attractive to developers looking to capitalise on this popular city-fringe location.
“The property benefits from exceptional transport links including light rail and frequent bus transit, with motorway access to and from the southern motorway via the nearby Greenlane interchange,” she says.
- Article supplied by Bayleys
