For the first time in over 15 years, a three-level building close to the CBD in the growth suburb of Grafton is for sale.
“This offering provides an exciting opportunity for refurbishment, redevelopment, or investment,” says Wayne Muir of Barfoot & Thompson Commercial, who is marketing 89 Grafton Rd, Grafton, through expressions of interest.
“There are also plans for an additional 14-level structure at the rear of the site and the council has indicated in a pre-application consenting memo there is no fundamental objection to height exceedance subject to satisfactory design.”
Muir says that improvements on the site comprise approximately 1900sq m of total lettable area and can provide up to 65 car parks with two levels of basement parking.
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“The building sits on a large freehold site totalling 1386sq m that slopes down moderately from Grafton Rd,” he says.
General construction consists of concrete foundations, reinforced concrete pillars and beams, concrete floors and long-run steel roofing.
“The interior is finished with carpeting, tiled flooring and suspended ceiling tiles with each floor having separate female and male bathrooms,” says Muir.
“The building was constructed in the 1980s and has a 90 per cent NBS seismic rating.”
Situated opposite Auckland and Starship Children’s Hospital, the location provides all-points access to motorway junctions within 750m, public transport routes immediately available and main arterial routes to the outer suburbs.
The University of Auckland, AUT and Queen St are within walking distance.
Zoned Business - Mixed Use, this allows for a variety of uses including both residential and commercial activities.
Muir says there are potential benefits available under recent planning initiatives affecting the location.
“Auckland Council has indicated additional height is available for both the existing and any future building,” he says.
“With its favourable zoning, excellent location and future development possibilities this parcel of land and buildings will appeal to a wide range of investors and developers seeking new opportunities.”
- Article supplied by Barfoot & Thompson
