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Multi-use city fringe site for sale with options to live, work or invest

A vacant property for sale combining a warehouse/showroom and a large penthouse apartment presents unique options to live, work or invest in a prized city-fringe location.

The more than 480-square-metre two-level building in Auckland’s Eden Terrace sits just outside the city centre and within a short walk of the soon-to-be-completed City Rail Link (CRL) and revamped Mt Eden Station.

Its location and versatile combination of dual self-contained residential and commercial/industrial tenancies will appeal strongly to buyers seeking a live-work option, a home with an income stream, or a diversified investment property.

The freehold unit-titled property at 6 Couldry Street, Eden Terrace, Auckland, is being marketed for sale by James Were of Bayleys Auckland Central. It will be sold by way of a tender closing on Tuesday 28 May, unless sold prior.

The well-presented building’s approximately 324-square-metre ground floor is a mix of high-stud warehouse, showroom and office space. It has two points of access and contains two bathrooms and a kitchen area.

Were said this was a versatile space that lent itself to a range of uses and a rare opportunity to secure a warehouse on the CBD fringe.

“The first floor, spanning some 160 square metres, contains a well-appointed four-bedroom, two-bathroom apartment plus study. This benefits from an internal courtyard and north-facing balcony off the main living area.

“Each of the two tenancies is fully self-contained with its own access. They are also connected via an internal stairway,” Were said.

Constructed in the 1980s, the building has a Grade-A Initial Evaluation Procedure rating of 90 percent of new building standard. The property comes with five on-site car parks.

The Couldry Street site sits within the flexible and intensive Business – Mixed Use zone under the Auckland Unitary plan.

This permits wide-ranging activities including residential accommodation, offices, retail, food and beverage, and healthcare facilities. Development is allowed to a height of 21 metres at the site for sale, three metres higher than usually permitted in the zone.

Were said the accessible, sought-after city-fringe location was one of the property’s most desirable attributes.

The building overlooks Basque Park, an inner-city haven around which a collection of new apartments and townhouses are sprouting. Eden Terrace as a whole has given rise to numerous successful apartment projects in recent years, with further complexes under construction.

“This location is handy to the CBD and motorways as well as public transport links and key amenities such as Auckland Hospital, universities, and Auckland Domain. Retail and hospitality offerings are in abundance in nearby precincts such as Ponsonby Road, Karangahape Road, Mt Eden and Newmarket.

“Once completed, the CRL and a redeveloped Mount Eden Station will give the area a further shot in the arm, stimulating additional commercial and residential real estate activity. The CRL will enable a doubling of rail network capacity, with an ability to move 50,000 people an hour at peak times.

“Proximity to this and other major transport links plus the CBD and neighbouring city-fringe suburbs – along with the intensive, flexible zoning – is likely to see this area continue to grow,” Were said.

Click here for more information on the listing.

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