Landbank or develop on prized Epsom site
An exciting opportunity for a landbank holding or future redevelopment, a
1770sq m freehold site in highly desirable Epsom is on the market.
317 Manukau Rd features a wellestablished motel — Cornwall Park Motor Inn – which Agnes Teh of Barfoot & Thompson City Commercial is marketing for sale by deadline private treaty closing at 4pm,
16 June unless sold prior.
The property is under long-term lease and could not be better positioned, according to Teh.
“The land is zoned Business —Mixed Use and sits centrally within the double grammar zone, which means it is in close proximity to some of Auckland's most prestigious schools, including Auckland Grammar, Epsom Girls Grammar and St Cuthbert's College.
“Cornwall Park is just a stone's throw away while the CBD, Newmarket, Alexandra Park and Auckland’s main arterial routes and motorways are nearby.
“Along Manukau Rd and Great South Rd there are a number of other accommodation businesses which makes the area popular for travellers,” Teh adds, “and from here it’s easy to get to and from the airport.”
The complex was originally built around 1965 with further development undertaken in 1997 and 1999. The main structure is one and a halfstoreys and includes 20 units, an office/reception area, kitchen and storage facilities. A two-bedroom manager's unit sits on the first floor above reception.
The lessee owns the motel chattels, furniture and fittings.
Teh says the property benefits from its zoning, which allows for greater inner-city density.
“Epsom is largely a residential suburb but also has a prominent commercial presence, including office buildings and retail,” she says.
“Owners, investors and developers recognise the area’s unique development potential – and planning ahead, whether the existing building and business is retained, or a new development is completed, the site itself will ensure this property enjoys continued strong performance in Auckland’s future.”