Massive corner profile in a fringe location set for CRL growth

After some 60 years of family ownership, a superbly positioned freehold property with massive corner profile is for sale in one of Auckland’s fastestgrowing city fringe precincts.

The 1391sq m property at 57 Boston Road is nestled in a tightly held pocket of mixed-use development at the nexus of Grafton, Mt Eden and Eden Terrace.

This area is poised to benefit from the completion of the City Rail Link in 2024, which will transform the nearby Mt Eden Train Station into one of Auckland’s major transport hubs.

Colliers International has been appointed to market 57 Boston Rd, Grafton, for sale by deadline private treaty closing at 4pm on Thursday 6 August, unless sold earlier.

Kris Ongley, Associate Director of

Investment Sales at Colliers, says the property will have broad market appeal. “The property comprises a two-level commercial building on a prominent site at the intersection of Boston Rd, Nugent St and Normanby Rd. This busy roundabout links the suburbs of Grafton and Mt Eden, and provides a key route to the Southern

Motorway via Khyber Pass Rd.

“With 75m of street frontage to Boston Rd and Nugent St, the property provides massive exposure to the more than 10,000 vehicles that use the roundabout every day.”

Ongley says the building and car parks are 100 per cent occupied by local business Boston Wardrobes, a related entity to the building owner.

“The vendor is offering flexible leaseback terms, with buyers encouraged to submit offers that include their preferred terms of leaseback.

“A three-sided billboard at the corner of the site maximises exposure and provides additional income.

“Both the billboard and leaseback will provide useful holding income for a purchaser wishing to explore future redevelopment options.”

The property is well suited to a change of use given its growth location and flexible Business Mixed Use zoning, which allows for buildings up to 18m of height.

Permitted uses include commercial, residential, retail, accommodation or a combination of these.

Jonathan Lynch, Associate Director of Investment Sales at Colliers, says the property benefits from excellent connectivity.

“It is a comfortable 200m walk from Mt Eden train station, but far enough away to be unaffected by the upgrade works that will transform the station into a key City Rail Link hub.

“It is also just over 500m from the Southern Motorway onramp, providing excellent accessibility to the wider Auckland region.”