An ex-car dealership property on a prime site on busy Great South Road, near Newmarket in central Auckland, has been placed on the market for sale.
82 Great South Rd is being marketed by Charlie Oscroft and John Davies of Colliers International and is offered for sale by deadline private treaty closing on August 9, unless it is sold before that date.
The 645sq m two-level building on the 1736sq m corner site was originally constructed as an office and was converted to a high-quality, modern showroom in 2001, Oscroft says.
“This building and its prime location close to Newmarket and Greenlane offer great flexibility for the future owner. It is offered with vacant possession, allowing a developer or owner-occupier to take possession and immediately modify it to suit a variety of uses.”
Oscroft says the property, which until recently was home to a Continental Cars dealership selling high end European cars, is ideal for a ‘destination business’ or retailer. It could be converted back to offices, and with the relevant consents, could possibly be used for a childcare facility, gym or cafe.
“This location, on a major arterial near large retail and residential areas is ideal for public amenities and services as well as retail use, and the property is made even more convenient for customers with 43 on-site car parks,” says Oscroft.
The building was altered for use as a vehicle showroom and these modifications included the removal of part of the first floor to create a double-height space. However, with many of the structural beams remaining in place, the floor could possibly be reinstated (subject to building and resource consent) to increase the building’s floor area, Oscroft says.
The property’s Residential 7A zone, which permits high-density developments up to four storeys in height, means an apartment conversion would also be a possibility, says Davies. “The property is located within double Grammar zones – a factor which is well known to increase demand for residential property in central Auckland – and with the city’s much-publicised upcoming housing shortage, we expect to receive interest from developers looking at the possibility of residential conversion.
“It offers developers and owner occupiers a fantastic opportunity to create a high value asset in a prime location,” Davies says.
The leasehold property is on Dilworth Trust Board land, Davies adds. A perpetually renewable 21-year ground lease is in place, with a just-completed rent review locking the ground rent in at the current level of $152,700 a year.
The fit-out to the building is of very high quality and modern standard, with extensive glazing on two sides. An internal staircase leads to mezzanine offices which are very well presented with large windows, he says.
The current configuration provides high and low stud showroom areas and amenity areas as well as the upstairs offices.
The property offers great street appeal owing to its corner site on Great South Rd and Mauranui Ave, opposite the Dilworth School playing fields, says Davies.
“The corner position gives easy access and there are multiple vehicle access points along the property’s substantial frontage to Great South Rd as well as along the Mauranui Ave frontage. It is also very close to – and visible from – the Southern Motorway.”
This part of Great South Rd is home to many commercial and retail tenants, including accommodation providers and other European car dealerships, which benefit from the many passing vehicles as well as the area’s proximity to large residential areas, he says.
“The property is in the heart of some of Auckland's most expensive and long-established residential suburbs, providing a large customer base for the future owners.”
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