Rose Alley at 5 Rose Road, Ponsonby, is a newly transformed co-op hospitality and office space. JLL brokers marketing the property say it seamlessly combines luxury with tradition, creating a one-of-a-kind destination that’s setting a new standard in the local food and drink scene.
They say the Rose Alley precinct represents a rare find in the tightly held Ponsonby market, appealing to passive investors, hospitality operators, and family offices alike.
Its laid-back and effortlessly cool atmosphere perfectly captures the essence of Ponsonby's vibrant culture, making it an attractive option for those expanding their investment portfolio.
With net lettable area spanning an expansive and versatile 566 square metres on a 379 square metre site, this meticulously refurbished two-level stand-alone building offers a mix of hospitality, retail, and office that generates a diversified income stream.
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Net annual rental income of approximately $253,000 plus GST and operating expenses is generated from eight separate income streams with the potential to create additional income streams.
5 Rose Road encompasses a mix of open-plan hospitality areas, shared common spaces, and a covered courtyard complete with a bar and seating on the ground floor.
The first floor offers four office suites, a shared kitchen/server room, and essential amenities.
5 Rose Road, Ponsonby is now for sale exclusively via JLL agents by Deadline Date, closing 12pm on Wednesday July 18th 2024, unless sold prior.
Jonathan Lynch, Head of Metropolitan Sales and Investments at JLL, reinforces the reliability and long-term financial benefits of this exceptional investment.
“Investors will enjoy stable income without the need for foreseeable capital expenditure,” says Lynch.
“Ponsonby is a place where lifestyle and business converge. Rose Alley is home to a diverse mix of tenants, contributing to its vibrant and energetic atmosphere.
"From stylish cocktail bars and popular pizzerias to trendy tea shops and boutique fashion stores, the tenancy mix truly reflects the creative and dynamic energy of Ponsonby's surroundings.
"Renowned music institutions and dynamic advertising agencies are also attracted to this property, further enhancing its allure.”
JLL Associate Director, Jason Armstrong, points to the sought-after location as a significant drawcard for investors and occupiers.
“Strategically situated just off Ponsonby Road and directly opposite the thriving Ponsonby Countdown supermarket, 5 Rose Road occupies a prominent position in a vibrant and evolving precinct,” says Armstrong.
“The area has witnessed significant growth and ongoing developments, such as The Greenhouse by Ockham and Domus Apartments on Rose Road, highlighting its potential for future value appreciation and establishing it as a prime investment location.”
Safety and compliance take centre stage at Rose Alley, according to JLL Associate Director, Alex Wefers.
“Investors can have complete peace of mind knowing that this building meets the highest safety standards as evidenced by its impressive A-grade seismic rating of 100% NBS,” says Wefers.
“Moreover, the property benefits from its Business Town Centre zoning, as outlined in the Auckland Unitary Plan. This zoning permits a mix of commercial, retail, hospitality, and residential activities, paving the way for myriad possibilities.
"The strategic advantage of this zoning opens up endless opportunities for those looking to capitalise on the range of permitted uses.”
In addition to its investment potential, 5 Rose Road offers the convenience of a desirable lifestyle. Its proximity to Ponsonby shopping and entertainment, the CBD, waterfront, Countdown, and Western Park ensures easy accessibility for both tenants and visitors.
Transport options, including the City Link bus route, enhance connectivity to the area.
- Supplied by JLL
