A prime multi-tenanted commercial property on a high-profile corner site in Mount Eden presents an exceptional opportunity for astute investors, developers, and future occupants to take advantage of the suburb’s strategic city-adjacent location, Bayleys salespeople say.
The 974sqm (more or less) freehold landholding at 371 Dominion Road features a Business—Local Centre zoning that permits high-density mixed-use development up to 13m.
Bayleys salespeople Mike Adams, Quinn Ngo and Karen Yung are marketing the property for sale by auction, scheduled at 11:00 am on Wednesday, 21st August 2024 (unless sold prior).
They say the property is uniquely positioned to benefit from the ongoing development and infrastructure investments in and around the prestigious Mount Eden suburb.
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“A strategic location on main arterial Dominion Road, which is well-serviced by public transport and amenities, such as the nearby Eden Park, makes it a prime candidate for further development or investment,” Adams says.
The property includes a multi-level building with a total floor area of 581sqm (more or less), currently returning circa $191,000 per annum( plus GST )from multiple tenancies.
The ground floor provides 386sqm (more or less) of commercial accommodation, while the upper-level features 194sqm (more or less) and 14 car parks.
Bayleys salesperson Quinn Ngo says the property's east-to-west aspect and dual frontage to King Edward Street and Dominion Road make it highly exposed to passing vehicle and foot traffic.
“Opportunities like this in Mount Eden are rare, especially those with an established income stream and significant development potential. The property’s corner position and extensive frontage provide excellent visibility and accessibility.
“Located along Auckland’s western corridor, Mount Eden continues to evolve, with new developments enhancing the area's appeal.
“Local infrastructure investments further strengthen the potential for future growth and value appreciation.”
Key features of the property include its proximity to essential amenities such as the local Woolworths supermarket, Eden Park, the Kingsland Train Station, Potters Park and various schools. The location offers excellent access to public transport options and major motorway interchanges, providing convenience for residential and commercial users.
Bayleys salesperson Karen Yung says the property represents a unique blend of stable income and significant upside potential for investors, developers, and owner-occupants.
“We anticipate strong interest from the spectrum of property purchasers, increasingly searching for opportunities with good indications we are past the trough in the economic cycle. The subject property represents significant growth and development potential in a tightly-held and sought-after city fringe suburb.”
- Supplied by Bayleys
