Office building good to grow
APaul Charman
single-level home adapted for commercial use is for sale at 673 Dominion Rd, Mt Eden. Barfoot and Thompson agents Melissa He and Jane Tang are selling the well-maintained single-level building, which they say is of solid weatherboard construction.
The location, on a busy arterial route just 500 metres south of Dominion Rd-Balmoral Rd intersection, is superb, they say.
“This property — which had a major refurbishment taken in the late 1990's — offers walking distance to the vibrant balmoral village and the local amenities,” adds He.
“There are seven off-street parking spaces at the rear of the property, and access to the building from the car park is provided for.
“The building has been well maintained throughout the years, having long been used as a professional offices.
“It still presents a good general condition for the current layout.”
He says the most recent rating valuation of the freehold 539sq m property was $1,575,000.
“Council rates are now set at $8130.18 and insurance at $2,960 net.
The property, which goes to auction at 10am, on April 19, is being offered for sale with vacant possession from June 1.
He says the Mixed Use zone is highly conducive to development, with an occupiable building height of 18 metres provided for, plus an additional two metres of roof space.
“The Auckland Unitary Plan (operative in part) has applied a very useful zone to this area. The Mixed Use zone is very much is in line with general council policy of encouraging accommodation density in areas with nearby access to public transport, such as Mt Eden.
“And it clearly demonstrates the potential for future development at 673 Dominion Rd,” says He.
“The property is perfect for an owner-occupier who can bring their business here, grow it with the high traffic passing each day and bank on the zone to provide future up-side.” A character freehold dwelling now for sale on Auckland’s central city fringe contains seven individual residential tenancies.
The multi-tenanted Grammar School-zoned residence at 20 Huntly Ave, Grafton, comprises a mixture of one and two-bedroom flats with individual power meters. Combined, the tenancies generate annual rental income of $191,880.
The 801sq m of freehold land and 405sq m building are being marketed for sale by auction at 11am, April 11, by Bayleys Auckland.
Salesman Phil Haydock says the location is incredibly convenient.
It is with easy walking distance of the CBD, Newmarket and Auckland Domain as well as Auckland University, Auckland Hospital and Auckland Grammar School.
“This provides the property with a captive population of potential tenants — including hospital workers, Newmarket or city-based professionals, and students,” Haydock says.
“The character and well- maintained tenancies have good natural light, high ceilings, and polished wooden floors. All dwellings are fully self-contained, with their own kitchens and bathrooms. The property has off-street parking for two vehicles, and is immediately adjacent to Outhwaite Park.”
The two single-bedroom units rent for $390 and $400 a week, while the two-bedroom units rent for between $550 to $650 a week, depending on their size. Some of the ground floor units have their own private outdoor courtyard areas.
Haydock says the block of seven flats is being sold fully leased. The property is zoned “Residential-Single House” under the Auckland Unitary Plan, and sits alongside wooden structured homes built around the same period and to a similar style.
He says the property’s borders are tree-lined and the front of the building landscaped — enhancing street appeal and allow the building to blend in among its residential neighbours.