An architecturally designed three-level office building in the popular Auckland city fringe suburb of Grafton will pique the interest of prospective purchasers looking for a premier asset to call their own.
27 Nugent Street, Grafton offers 675sq m of total net lettable area on Levels 1 and 2, while the ground floor provides nine freestanding, secure car parks. The property, which has an A-grade NBS rating, is zoned Business – Mixed Use Zone under the Auckland Unitary Plan.
This exquisite stand-alone property, which sits on 429sq m of freehold land, has recently undergone a refurbishment of the highest quality and is available with vacant possession, making it a must-see for any business seeking their own premises.
Auckland’s CBD is approximately five minutes away, while the site is strategically located with favourable proximity to the motorway network and a range of public transport options, including the City Rail Link, which is expected to be completed in 2024.
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There is also an add-value proposition through the potential construction of a three-bedroom apartment on top of the building, which would allow the new owner to maximise the value of the site. A plan for this addition was prepared by a previous owner and is available to view.
Colliers Associate Directors Jonathan Lynch and David Burley have been exclusively appointed to market the property for sale by deadline private treaty closing at 4pm on Wednesday 11 May, unless sold prior.
The highly functional and desirable office building provides 336sq m of space on Level 1 and 339sq m of floor area on Level 2.
Lynch, Associate Director of Investment Sales at Colliers, says the property’s recent refurbishment means it presents in magnificent order.
“This is one of the most visually impressive office buildings on the fringe of Auckland’s CBD and has been expertly crafted inside and out as a bespoke premises that is incredibly eye-catching,” Lynch says.
“Because it will be available with vacant possession, an owner-occupier may take advantage of this opportunity to secure a premises of their own as demand for high-quality office offerings continues to rise.
“As Covid-19 restrictions ease, employers are determined to provide engaging workspaces for their team members and a property such as this one certainly fits the bill.
“Alternatively, an investor may see the value in the property and choose to lease it out while assessing their options for the future, such as exploring the development potential of the site through the rooftop apartment option, which could add notable value to the building.”
Burley, Associate Director of Investment Sales at Colliers, says the location of the property is highly appealing for buyers given the dynamic economic environment of the surrounding area.
“The site is located at the juncture of Boston Road and Nugent Street. Approximately 300m to the north-west is the Uptown retail precinct providing a number of cafes, restaurants, and bars,” Burley says.
“Neighbouring sites along Boston Road and Grafton Road provide a variety of light industrial warehouses, office blocks, retail, and apartments. There has also been significant commercial, retail, and residential development in the surrounding area.”
Burley says this property shapes as one of the most impressive office buildings to be presented to the open market in a tightly held location that offers exceptional connectivity to Auckland’s CBD and the surrounding suburbs such as Newmarket and Mount Eden."
- Article supplied by Colliers
