Premium Newmarket office
Apremium showroom and office unit in the Auckland city fringe suburb of Newmarket is on the market for the first time in 15 years. Colliers International is marketing the 755sq m unit at 96E Carlton Gore Rd, which will be sold with vacant possession.
Colliers’ investment sales broker David Burley says this makes it ideal for owner-occupiers or investors who want to move in immediately or add value in the short term.
The stratum in freehold property, featured Colliers just-released Portfolio, is set down to go to auction on April 18 — unless sold earlier.
Colliers investment sales broker David Burley, who specialises in Newmarket, is marketing the property with colleague Simon Child.
Burley says it is an excellent opportunity to invest or occupy in one of Auckland’s most desirable locations.
“This strategically located, highprofile property is available with vacant possession, giving owneroccupiers the chance to buy at auction and move in straight away upon settlement.
“The property is well suited to a business seeking a good mix of showroom and office space, and could be a great option for medical occupiers, many of which are already established in the Carlton Gore Rd area.
“Alternatively, add-value investors can reposition and re-lease the property to make the most of Newmarket’s excellent trading fundamentals.
“City fringe retail vacancies are very low, making properties like this an astute investment.”
Burley says Newmarket is the go-to destination for residents of Auckland’s wealthy central-eastern suburbs, as well as drawing on a significant residential and employee catchment of its own.
“The city fringe suburb’s residential population is about 4500 and increasing rapidly, while some 1900 local businesses employ about 15,000 people.”
Child says the property for sale is part of mixed-use residential, office and retail development ideally located next to the Auckland Domain.
“The property offers a ground floor showroom and a mezzanine office, with a feature staircase linking the two levels. “Ample off-street parking for 21 cars is provided, while good motorway access is available on nearby Khyber Pass and Gillies Ave.
“The area is well served by two train stations, with the Grafton and Newmarket stations both nearby.”
Child says Carlton Gore Rd is home to some of the most well-known and established national and international brands including Vector, Fidelity, IBM, Tegel, Arnott’s and Fuji Xerox.
“The well trafficked through-road has also become a prime location for premium showroom retail as well as specialised medical services.”
Amenities in the local area include the Olympic Pool and gym, cinemas, extensive car parking, Auckland Museum, Auckland City Hospital, Auckland Grammar School and Epsom Girls Grammar.
The property is zoned Business Mixed Use, making it suitable for a range of different users.
Burley says Scentre Group’s $790 million investment in a major redevelopment and expansion of its Westfield Newmarket shopping centre shows the area’s appeal as a retail destination remains strong.
“We anticipate sustained demand for retail space over the two years that Westfield Newmarket’s doors are shut for redevelopment,” he says.
“In addition, we expect demand to remain buoyant even after the shopping centre re-opens, with Auckland’s first David Jones department store likely be a strong drawcard to the area.”
Burley sees an opportunity to acquire a city fringe showroom or medical property at a time when retail vacancies remain low.