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Newmarket pair offer prime commercial canvas

Two contemporary office buildings moments from Newmarket’s main retail strip are expected to attract diverse interest from occupiers, add-value investors, developers, and land bankers, who have identified value in their versatile use potential.

Bayleys Auckland Metropolitan Markets senior director Alan Haydock says the vacant properties are offered to the market together or separately, representing a scarce opportunity to secure neighbouring assets in a sought-after city-fringe location.

He is marketing the properties at 4 and 6 Clayton Street with Bayleys colleague Damien Bullick in conjunction with Cam Paterson from Barfoot & Thompson.

The combined freehold landholding of 891sq m (more or less) is featured in Bayleys’ latest Total Property portfolio, offered for sale by tender closing at 4:00 pm on Tuesday, 23rd April 2024 (unless sold prior). Tenders can be submitted for one or both offerings.

“This is an excellent blank canvas opportunity. For owner-occupiers or add-value investors, there is potential for refurbishment to achieve the highest modern specifications in a location where prime office accommodation is in demand.

“Developers could take advantage of the sought-after central Newmarket position and the flexible Business – Mixed Use zoning, which encourages a mix of compatible residential and non-residential activities.

“The usual height limit for this zone is 18 metres, but in the case of these two properties, development up to 27 meters is allowed, owing to their proximity to Newmarket’s metropolitan centre, where the predominant height limit is 30 metres.”

The properties are standalone with stepped building heights and independent basement car parking.

“At 4 Clayton Street, the modern, two-level commercial property offers office accommodation totalling 389sq m (more or less) with a striking double stud lobby and floor-to-ceiling window frontage,” says Bayleys Auckland Metropolitan Markets associate director Damien Bullick.

“Internally, a contemporary fit-out provides either a turn-key solution for an occupier or an opportunity to tailor the property to specific requirements for maximum suitability or rental return.”

The site spans 393 sq m (more or less) and has nine car parks in the basement with internal access.

The property at 6 Clayton Street, constructed in the 1990s, comprises a four-level building. Floors one and two are dedicated to office accommodation, while the ground and basement levels provide for 25 secure and covered car parks.

“The larger property at 6 Clayton benefits from an extensive self-contained office fit-out, allowing a single tenant or occupier to take over both levels or provide split-leasing to two separate occupants.”

The 775sq m (more or less) building features 386sq m on the first floor and 386sq m on the second level. It occupies a 498sq m site.

The salespeople say Newmarket continues to evolve as a major growth location, with future development eyes firmly focused on underutilised assets near Broadway.

“Newmarket is one of New Zealand’s premier retail and office districts and is home to many major corporations. Leading New Zealand power company Mercury Energy has invested in a new 13,000sq m headquarters a short distance from the subject properties, further reflecting the depth of confidence in the area as a prime commercial precinct.

“The high level of local investment further demonstrates the underlying value of these strategically located sites, with virtually limitless potential for an array of purchasers.”

Click here for more information on the listing. - 4 Clayton Street

Click here for information on the listing. - 6 Clayton Street

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