Three commercial sites in CBD, Mt Eden

Three commercial sites in the CBD and City Fringe are being marketed by Barfoot & Thompson commercial agent Reese Barragar.

“All three of these units are in very desirable locations where buyers are looking to invest which makes them perfect opportunities that shouldn’t be passed by,” Barragar says.

-Unit 53, 210–218 Victoria Street West is situated in Auckland’s CBD and adjacent to Victoria Park.

“The site benefits from high traffic flows and high visibility due to the surrounding main thoroughfares,” says Barragar.

“This location has seen a growth in popularity with many businesses and residents enjoying the contemporary character, vibrancy and wide range of high quality amenities and services.”

The freehold unit has a total net lettable area of 42.64sq m and will be sold with vacant possession.

Projected net income is $21,320 per annum plus GST and outgoings, which equates to $500 per sq m.

“The unit is located in the Central Pavilion on the middle floor of Victoria Park Markets with access off Drake Street, Victoria Street West, Union Street or from within the complex,” Barragar says.

“The current configuration of the unit encompasses two open-plan areas including a kitchenette with front entry and windows on both sides providing excellent natural light.”

Barragar says that being zoned Business – City Centre under the Auckland Unitary Plan allows for a wide range of activities as well as having the greatest intensity of development in Auckland.

“This all seeks to ensure that the city centre is an international centre for business and learning, innovation, entertainment, culture and urban living.”

Unit 53 is being sold with an asking price of $425,000 plus GST (if any).

Two Mt Eden units are for sale with an asking price and both offering vacant possession.

-Unit 1C, 27 Enfield Street is approximately 148sq m and located on the ground floor of the architecturally designed Miro complex.

“This premium ground-floor unit is presented as a shell and is ready for a fitout for office, hospitality and/or showroom,” Barragar says.

“There are also two on-site carparks included with the freehold unit.”

With an asking price of $1.3 million plus GST (if any), and a market lease appraisal of $73,880 net per annum, this would see a 5.7 per cent net return on market income once leased.

-Unit 2C, 27 Enfield Street, at 67.64sq m, is similar to its neighbouring property being on the ground floor and ready for fitout by the new owners. This unit includes one on-site secure carpark and a storage locker.

“This tightly held freehold gem has a market lease appraisal of $34,078 net per annum,” Barragar says.

“The asking price is $670,000 plus GST per annum, which would equate to a 5.1 per cent net return.”

Zoning for both properties is Business – Mixed Use which provides for a full range of activities including residential as well as smaller scale commercial activity.

Mt Eden is a main arterial route that extends throughout central Auckland, with a moderate to heavy traffic flow throughout most of the day.

“This provides potential for both of these units to become handy office locations or showroom use to take advantage of the exposure.

“Several motorway access points are available as well as easy access to the CBD and Newmarket with the Mt Eden train station just a short walk away.

“The properties are also within the popular Auckland Grammar School zone which is an additional bonus for those wishing to take advantage of the Mixed Use zoning,” Barragar says.

- Article supplied by Barfoot & Thompson