A strategically located commercial building in the rapidly developing Auckland suburb of Panmure presents buyers with the opportunity to secure a high-quality premises that also offers future growth potential.
7 Domain Road, Panmure is a multi-level property that includes 993sq m of total net lettable area on a 1,012sq m freehold site that overlooks the Panmure Basin and is zoned Business – Town Centre Zone under the Auckland Unitary Plan.
The building is available with vacant possession with the previous tenant, who spent more than 20 years in the property, recently moving on.
There are 17 covered basement car parks that are secured behind a motorised gate, while the building offers excellent street exposure. The Panmure town centre and various retail offerings are within walking distance.
Start your property search
The Panmure public transport hub is only 1km away, providing connectivity to bus and train services that link to various corners of Auckland, while State Highway 1 is readily accessible.
The key arterial route of Tripoli Road is only moments away, which connects Panmure with Pakuranga, Glen Innes, and the Eastern Bays. Auckland’s CBD is only 11.8km away.
Colliers Brokers Logan Roach, Gareth Fraser, and Greg Watson have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Thursday 15 December, unless sold prior.
The property was constructed in the 1980s and the first and second floors each offer 451sq m of open office space. There’s also 91sq m of basement storage space, providing further convenience and options for future occupants.
Roach, Investment Sales Broker at Colliers, says the property will appeal to a wide array of buyers.
“Given the building offers vacant possession, an owner-occupier may seize the opportunity to quickly position themselves in a highly functional premises,” Roach says.
“Meanwhile, developers or investors may take a long-term approach to the property and look to lease it and secure a steady rental stream, while taking their time to decide their next moves.
“Those moves could also include a residential development of significant scope given the ongoing demand for high-density housing in Auckland.”
Fraser, Auckland Director of Investment Sales at Colliers, says the zoning offers future flexibility for prospective purchasers and developments can be up to 27m in height.
“The Business – Town Centre Zone applies to suburban centres throughout Auckland, the satellite centres of Warkworth and Pukekohe, and the rural towns of Helensville and Wellsford. The centres are typically located on main arterial roads, which provide good public transport access,” Fraser says.
“The zone provides for a wide range of activities, including commercial, leisure, residential, tourist, cultural, community, and civic services, providing a focus for commercial activities and growth. Most centres are identified for growth and intensification.
“Expansion of these centres may be appropriate depending on strategic and local environmental considerations. There is a range of possible building heights depending on the context. Provisions typically enable buildings of between four and eight storeys, although there may be special circumstances where other building heights are appropriate.”
Watson, Industrial Sales Broker at Colliers, says Panmure has experienced extensive development during the past few years.
“Key infrastructure projects funded by local and central government have provided greater connectivity to Panmure,” Watson says.
“The T?maki regeneration programme, which aims to deliver 10,500 new healthy, modern homes, and upgraded streets, parks, and town centres to Panmure, Glen Innes, and Point England, has also contributed to the gentrification of the area.
“It is incredibly rare to see a building of this size and quality available with vacant possession."
- Article supplied by Colliers
