Onehunga’s continuous transformation has led to a surge in demand for its commercial property, 300 Onehunga Mall presents one of the few opportunities that come to the open market in this area each year.
The regular shaped 637m² site has multiple angles for both adding value and development potential with resource consent in place for a 21 apartment project, an under-utilised character building and a retail shop currently used as office space. The two leases currently in place provide a healthy holding income with flexible terms to allow an incoming investor to add-value in the short-medium term.
The site benefits from rear access through a private right of way and Onehunga Primary School at the rear boundary, both elements proving invaluable to any purchaser considering the future development of the site. The town centre zoning allows for a generous 27 metre build height.
Onehunga Mall’s commercial precinct has seen a rapid increase in popularity with the suburb going through a major stage of gentrification in recent years. The site at 300 Onehunga Mall is positioned to benefit extensively from the surrounding activity. The property is a 15 minute drive to the CBD and Airport, 30 minutes by train into Britomart and 2 minutes walk to Dressmart and local eateries.
Ref #: 213591
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