A prominent commercial building in Takapuna that is available with vacant possession and favourable Mixed Use zoning is being offered to the market for sale and will appeal to owner-occupiers, investors, and developers given its significant potential.
42 Taharoto Road, Takapuna features a 605sq m showroom and office premises that sits on a 1,165sq m freehold site and includes 17 on-site car parks. The motorway network is easily reached from this busy location.
The current building has 15m of high-profile frontage to the main Taharoto Road, which enjoys large volumes of passing traffic.
Until recently the property was the home of a very successful music retail business. The vendor, who has owned the property for more than 40 years, has made it clear they want this sold.
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The Business – Mixed Use zoning allows for a wide range of commercial and retail activity, as well as residential use, adding to the broad appeal of this property that has something for everyone.
Colliers Directors Matt Prentice, Jimmy O’Brien, and Shoneet Chand have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Tuesday 5 December, unless sold prior.
The versatile building, which is an open canvas for repurposing or redevelopment, lends itself to a wide variety of uses from retail or medical to professional services.
Prentice, Director of Sales and Leasing at Colliers, says the property will draw interest from a range of different parties.
“With vacant possession available, an owner-occupier may choose to purchase the property and immediately begin trading or embark on their own refurbishments,” Prentice says.
“There is also strong appeal for investors as they could lease the property to a new tenant, which could all happen rapidly given there’s no existing occupants.
“Meanwhile, commercial and residential developers could take advantage of this sought-after location to create a development that intensifies the usage of the site and maximises its value.”
O’Brien, Director at Colliers Auckland North, says the surrounding properties have undergone notable changes as part of the ongoing development in the area.
“Taharoto Road is a major thoroughfare with multiple lanes in both directions. A number of the dwellings in this part of Taharoto Road have been converted to professional office use, including a veterinary business, chiropractor, and denture manufacturer,” O’Brien says.
“The high-profile site is brilliantly positioned to access the Northern Motorway via the Northcote Road interchange or north via Barrys Point Road and is midway between the Takapuna shopping precinct and the industrial area of Wairau Valley.”
Chand, Director of Investment Sales at Colliers, says it is rare to see the combination of favourable zoning, a desirable location, and vacant possession all in one offering, which is underpinned by a motivated vendor.
“The Business – Mixed Use Zone is typically located around centres and along corridors served by public transport,” Chand says.
“The zone provides for residential activity as well as predominantly smaller scale commercial activity that does not cumulatively affect the function, role, and amenity of centres. The zone does not specifically require a mix of uses on individual sites or within areas. There is a range of possible building heights depending on the context.
“This zoning means there are a number of different options available to prospective purchasers.”
Article supplied by Colliers
