A prominent corner site comprising three business mixed-use zone properties in the highly desirable suburb of Mount Eden is being presented to the market as a combined offering for the first time, providing buyers with a blank canvas and an abundance of opportunity.
The three properties – 189, 199 and 201 Mount Eden Road – are strategically located within the sought-after Double Grammar Zone and represent a peerless opportunity on the fringe of Auckland’s CBD for buyers to develop, add value or become owner-occupiers.
The freehold sites, which are located halfway between the Mount Eden Village and the much-anticipated Mount Eden City Rail Link train station, have a combined total building area of 640sq m on 1,703sq m of land with multiple car parks. The properties can be purchased as one parcel or separately.
Colliers Associate Directors Jonathan Lynch and David Burley have been exclusively appointed to market the properties for sale by deadline private treaty closing at 4pm on Wednesday 20 October, unless sold prior.
The current combined annual rental income for the three villas is $266,039 but that could exceed $306,000 based on current market rates.
189 Mt Eden Road is a 170sq m property on a 630sq m site, number 199 is 300sq m with six car parks on a 574sq m section, while number 201 is 170sq m on a 499sq m site and has 10 car parks.
The site is zoned Business - Mixed Use Zone under the Auckland Unitary Plan. This zone accommodates a broad variety of uses and is typically located around centres and along corridors served by public transport. It also applies to areas where there is a need for a compatible mix of residential and employment activities.
Lynch, Associate Director of Investment Sales at Colliers, says the elevated site on the corner of Mount Eden Road and Puka Street has an exceptional 100m of road frontage and is exquisitely positioned.
“The recent National Policy Statement (NPS) regarding higher density construction on sites within walking distance to major transport hubs is another major drawcard for this site,” Lynch says.
“Positioned approximately 500m from the new City Rail Link station, under the NPS this site will allow for a six-level building, a potential additional two extra levels based on the current zoning.”
“The accessibility offered by the incoming City Rail Link and multiple bus routes adds vast appeal to this site and it will generate interest for all buyer types.”
Burley, Associate Director of Investment Sales at Colliers, says it is incredibly rare to see a combined offering of this nature reach the market.
“Mount Eden is one of Auckland’s most popular local precincts boasting a huge array of local retail and hospitality hot spots and the village is only a 10-minute walk away,” Burley says.
“The new owner, or owners, will have a range of options available to them to either reposition these properties, occupy themselves or completely redevelop the sites.
“The location is just a stone’s throw from Auckland Grammar School and a short walk to Epsom Girls Grammar School, while the site benefits from the prestigious Double Grammar Zone tag - an almost essential requirement of many home buyers.”
Westfield St Lukes is located nearby and offers a large range of fashion, entertainment, and dining options. Central Kingsland and Eden Park are a short 10-minute walk away, while Newmarket can be reached in 20 minutes.
Furthermore, Mt Eden benefits from ease of access to Auckland’s major arterial route Khyber Pass Road, while on-ramps to the Northwestern Motorway are approximately five minutes’ drive away, with direct connections to both the Southern and Northern motorways.