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Flexible city-fringe commercial premises with redevelopment potential is placed on the market for sale

The property in the Auckland city fringe suburb of Newton comprises a 403-square metre (approx.) two-story office and showroom/warehouse building sitting on some 279-square metres of freehold land zoned Business – Mixed Use under the Auckland Unitary Plan (operative in part).

Sitting on the corner of busy Newton Road at the intersection with France Street, the property has an additional height overlay of 32.5 metres, and currently has parking for four vehicles as well as a cart dock.

The land and building at 94 Newton Road is now being marketed for sale by deadline private treaty through Bayleys Auckland, with offers closing on August 24 unless sold prior. Salespeople Alan Haydock and Damien Bullick said the property represented a rare opportunity to purchase an address in a tightly held precinct and would appeal to both owner-occupiers, investors, or developers.

“Permitted activities under the council’s Business - Mixed Use zone includes residential dwellings, offices, retail premises, food and beverage outlets, and healthcare hubs,” said Bullick.

“The Business – Mixed Use zone allows for residential activity, as well as predominantly smaller scale commercial activity. The property at 94 Newton Road benefits from a height variation control which allows a potential building height up to 32.5-metres subject to council consents. This is 14.5-metres higher than the usual 18-metre height allowable under the zoning.”

The building’s ground floor features a 60-square metre workshop which is accessed via the cart dock or internally, along with an 86-square metre showroom/office fronting Newton Road. Two office areas measuring a combined total of 257-square metres are accessed via an internal stairwell. These spaces benefit from good natural light and extensive glazing throughout.

The property is solely tenanted by air and water testing and monitoring equipment and services supplier The Environmental Collective, who have occupied the property since 2014 and are now on a short terms lease generating annual income of $75,000 plus GST per annum.

“The current lease arrangement with the tenant, provides maximum flexibility for any new owner to either invest, occupy, or further develop the property. Add-value investors can modernise and refurbish this already attractive commercial premises,” Bullick said.

“Alternatively, owner/occupiers looking for a high-profile and well located home for their business, can tailor this flexible building to suit their needs.”

Haydock said that one of the most desirable attributes of the high-profile Newton Road property was its strategic CBD-fringe location.

“The property is located in Newton - an increasingly popular and sought-after city-fringe suburb. In recent years, Newton has become a prominent residential location following numerous apartment developments, with further apartment complexes currently under construction,” Haydock said.

“The Newton location offers proximity to the Auckland Central Business District and motorways and is a short distance from both transport links and social amenities - including Auckland University, Auckland City Hospital, and Auckland Domain.

“The nearby Auckland City Rail Link (CRL) is set to provide future benefits for this location, and once completed, the CRL will extend from Downtown Auckland up to the western line through Newton and Eden Terrace.

“Meanwhile, for lifestyle amenities, the property is also handy to the Ponsonby Road, Karangahape Road, Mt Eden, Kingsland, and Newmarket retail and hospitality precincts. The immediate surrounding area comprises a mixed nature of premises and includes low to medium-rise commercial office and apartment buildings from the 1980’s through to the early 2000’s.

“The proximity to the CBD, other city fringe suburbs and major transport links, and the intensification of an already flexible zoning is likely to see the Newton location continue to grow both commercially and residentially.”

Click here for more information on the listing.

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