A brand new, high profile freehold office building - with exposure to over 200,000 cars daily - in Ellerslie, Auckland has come to market, presenting an opportunity for both owner-occupiers and investors.
The three-level commercial building - including 1,039 sqm of office space over two levels and 34 ground-level carparks - to be constructed on a 938 sqm fee simple title site at 45 Wilkinson Road, Ellerslie
is being marketed for sale by Colliers International by deadline private treaty closing 28 April, unless sold prior.
“There are few commercial buildings in Auckland that will have as good a profile as this property - on the Ellerslie-Panmure Highway and SH1, exposed to around 200,000 passing vehicles per day,” says Colliers’ Investment Sales Director Charlie Oscroft who, with colleagues Gareth Fraser and Kris Ongley, is marketing the property.
“This represents an excellent chance for potential purchasers to secure a brand new asset in an area of Auckland that is already a legitimate business address - which is currently experiencing significant further development.
“The site’s incredible positioning also offers huge branding opportunities.”
Given the current low interest rate environment, there is a strong case for businesses to consider buying over leasing, Oscroft says.
“Office stock in Auckland’s city fringe is extremely limited, which is placing upwards pressure on rents across the board.
“This is a good example of a property well suited to either owner-operators or investors who might have a tenant already lined up.
“The scope for business uses for the property is wide, from professional services companies such as law firms and accountancy practices, as well as car showrooms and any other businesses seeking significant brand exposure.”
Designed by Team Avery Architects and developed by RHS Development, earthworks have commenced on the property, with construction expected to be completed mid-2017, Fraser says.
“The building features high-end specifications and finishings, a minimum 3m stud height, private north and west-facing balconies and floor-to-ceiling glass on three sides.”
“It also includes seamless lift access from secure ground floor car parks to offices, as well as beautifully-landscaped gardens.
“The building will be sold with vacant possession and has an assessed market rental of approximately $488,000 per annum net plus GST.
“It sits on the same site as the prominent Ellerslie Junction development but will sit on its own fee simple title.”
Ellerslie Junction is a neighbouring 28-suite office development, offering commercial strata units ranging in size from 108 sqm to 400 sqm, Fraser says.
“The response from the market has been strong given the paucity of high quality units of the size available to lease or buy in the current market.”
Both properties are situated on a privately-owned section of Wilkinson Road, a pohutukawa-lined cul-de-sac adjacent to the Ellerslie on-ramp of the southern motorway, Fraser says.
“This provides excellent access to the Ellerslie-Panmure Highway, the northern and southern motorways, as well as to Great South Road and the Southern Corridor.”
The Southern Corridor and surrounding areas provide a convenient option for companies who value CBD-quality premises with professional surrounds, excellent transport links, and better proximity to Auckland’s industrial precincts and airport, Ongley says.
“It also appeals to those owners or staff who live in the surrounding residential areas including Ellerslie, Remuera, Epsom, and the Eastern Bays.”
Nearby key amenities and attractions including Ellerslie Village, Ellerslie Rail Station and the Ellerslie Racing and Event Centre, Ongley says.
“Ellerslie Village is an extremely tightly-held retail area that services the large surrounding residential catchment, and the overall area of Ellerslie is highly sought after as both a business and residential location.”