An opportunity to acquire a well-maintained, freehold, standalone and fully tenanted building on one of the major arterial roads running through Auckland’s city fringe has come up.
109 Great South Road, Epsom, totals 875sq m of building floor area, situated on a 1446sq m mixed-use, Double Grammar-zoned site. The three-level property has been fastidiously maintained by the current owner and has a separate tenant occupying each floor.
The first and second floors have identical floor plates, with the third level being slightly smaller and enjoying views towards Mt Eden.
Each level has tenant specific fitout to a high specification. However, the actual floor plates are completely open and free of structural columns, with all services being on one side of the building.
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The property also includes a generous onsite carpark for 27 vehicles providing an attractive and functional commercial investment opportunity.
JLL have been exclusively appointed to market 109 Great South Road, Epsom for sale by way of auction at 10 am on Wednesday 15 December unless sold prior.
JLL Metro commercial sales broker Kevin Reardon says this is the first time the property has been on the market in almost four decades, as the current owner has owned the building since it was constructed in 1985.
“The location is a cut above the rest of the commercial properties on this strip while also backing onto a strong residential catchment. It is an area that will stand the test of time and remain a highly desirable location for businesses”, says Reardon.
JLL Metro commercial sales director John Davies says 109 Great South Road offers purchasers an exceptional investment, with great underlying value in the land beneath the property.
The property is currently 100 per cent occupied by three well-established tenants, with a total net annual rental of $255,683 per annum, well in line with the market.
Each tenant operates in a different sector, helping diversify and reduce the risk of the investment,” says Davies.
“Along with the desirable cash flow, there is real value in the land beneath the building, being 1446sqm of not only mixed-use zoning, but also Double Grammar, ensuring plenty of options for the future. All of these factors combined means the property holds value not only in today’s terms, but also for future generations.” continues Davies.
- Article supplied by JLL
