Albany car yard site with potential to add value
Though now used as a car yard, a site for sale at North Harbour is likely to suggest additional possibilities to investors and owner-occupiers.
That’s the view of Bayleys agent Millie Liang, who — with colleague Ranjan Unka — is selling the 315sq m two-level residential dwelling partially converted for office use.
The the property, comprising
2336sq m of land is at 9 Paul Matthews Rd. Featuring in Bayleys’ latest Total Property portfolio, it is being siold by deadline private treaty, closing
5.30pm on May 15, unless sold earlier. Liang says it can be sold either with vacant possession or with a shortterm lease back to the vendor’s vehicle sales business.
The dwelling was the former sizeable home of the original landowner Paul Matthews, who the road is named after, and has been used as serviced offices for many years with a residential flat on the lower level.
It has four rooms, two lounges and a kitchen upstairs and two rooms plus a self-contained one bedroom flat with kitchen downstairs.
“Internally, the property provides character offices with polished floors, good natural light, a security system and ventilation,” Liang says.
“It offers opportunities for a wide range of occupiers with the potential to also accommodate a childcare business, restaurant, medical or other professional practices, another car sales yard or a variety of other activities, subject to obtaining the necessary consents.
“Alternatively, the existing building could be removed and the site could be redeveloped more intensively for commercial and/or light industrial use.”
The building is centrally located on the rectangular shaped site which has approximately 30m of frontage to Paul Matthews Rd and a depth of close to 80m. The land surrounding the building has been tarsealed and currently provides parking for up to approximately 75 cars which have been used by the car business occupiers for vehicle display.
“The site slopes gradually upwards towards the western boundary and the front of the site faces northwards,” says Liang. “This means any potential redevelopment of the property could ensure a northeasterly aspect for its buildings.”
Ranjan Unka says there are very few remaining land development options on the North Shore.
“There is currently no significant greenfield commercial and industrial land available for purchase so the next best option is brownfield sites which haven’t been developed to full capacity and where there is surplus land available for building on.
“This site falls into that category and should appeal to a variety of businesses looking for property to own and occupy on the Shore with the opportunity to add value and enjoy gains through redevelopment or expansion in the future.
“Alternatively, entrepreneurial investors or developers could capatilise on current strong, unsatisfied tenant demand due to historically low vacancy rates in Albany and maximise the value of this property by further developing it.”
Liang says the property which is zoned Light Industry is strategically positioned on Paul Matthews Rd in a highly sought after location which has a mix of commercial business activities plus a range of amenities including cafes, bars and restaurants, a pharmacy, childcare centre, VTNZ, and a travel agency which makes it an appealing place to work.
The Albany city centre is within five minutes’ drive providing extensive amenities including the Westfield Shopping Mall and a major park-andride bus station.
“Paul Matthews Rd also provides easy access to Auckland’s motorway network via its connection to the Upper Harbour Highway (SH18) and is set to benefit from the future Northern Corridor transport upgrade and the establishment of a new $70 million Rosedale bus station,” she says.
Plans for the newest Northern busway station at the intersection Arrenway Drive and Rosebank Rd were officially announced in December 2017 and have gone through a period of public consultation on its design.
Construction on the station in Arrenway Drive is due to start in the middle of 2019, with its opening scheduled for 2021.
The Rosedale station is part of NZTA's four-year Northern Corridor Improvements (NCI) project that includes a new motorway connection between SH1 and SH18, the extension of the Northern Busway to Albany and approximately 7km of new shared walking and cycling paths and connections.