Situated in the heart of bustling Newmarket, 10-14 Mahuru Street is an opportunity for developers and investors to unlock significant potential.
JLL is presenting the 2299 square metre freehold site for sale, ripe for commercial development with demand for these properties in prime locations skyrocketing.
Mahuru Street is a well-connected and vital side street that connects Broadway, the home of shopping and dining in Newmarket, to St Marks Road.
It also provides direct access to the boutique shopping experience on Nuffield Street, a connection to St Marks Road, and is in close proximity to the Southern Motorway.
Start your property search
10-14 Mahuru Street is a short walk away from Westfield Newmarket, ensuring a constant flow of foot traffic which makes it an ideal location for a future commercial development.
With major brands, boutique retailers, and dining options in the vicinity, the property's position at the heart of Newmarket is a significant drawcard.
The property is for sale by tender through the agents at JLL, with offers closing 4pm on Thursday 9 May.
JLL Capital Markets Director, John Davies, highlights the advantageous zoning as critical to future development options.
“The property is zoned Business – Metropolitan Centre, which provides flexibility and a broad range of options to owner-occupiers and developers,” says Davies.
“This zoning signifies 10-14 Mahuru Street is a prime area for commercial activity. The astute investor or developer who secures this opportunity will be able to tap into the growing demand for commercial space in this vibrant central neighbourhood.”
The new owners will benefit from its versatile layout that allows for a range of low-rise development options, given the development height limit of 12.2 metres due to the Newmarket Viaduct above, suggests JLL Head of Metropolitan Sales and Investments, Jonathan Lynch.
“Dual street access to Mahuru Street is a key feature of this site that allows for efficient traffic flow, easy access to customers and site visitors, and multiple entry/exit points for service providers,” says Lynch.
“This access enhances the functionality and long-term viability of 10-14 Mahuru Street for any owner occupier or developer with an eye to the future.
"Currently leased to Wilson Parking on a monthly basis, this agreement will be terminated prior to settlement, so the buyer will have a blank canvas with considerable potential to work with.”
10-14 Mahuru Street, Newmarket is an outstanding investment opportunity. Its location, layout, proximity to major transport connections, and versatility combine to create a rare development site in a prime, historically sought-after commercial location. The flexible zoning and dual street access will appeal to any investor or developer seeking a value-add acquisition in the ever-popular Newmarket.
- Supplied by JLL
