Victorian queen has opportunity to expand empire in Grafton

With its strategic location and significant add-value potential, a prominent property in the sought-after Auckland suburb of Grafton is set to generate strong interest among a wide array of buyers.

Sitting at 10 Park Ave, the 1900s Victorianstyle property has 494sq m of total building area on a 770sq m freehold site zoned Residential–Terrace Housing and Apartments Buildings Zone under the Auckland Unitary Plan.

The property is currently used as a shortterm accommodation offering and has capacity for 22 individual tenancies generating a steady gross annual income of $225,420. The main building has 390sq m of floorspace across two storeys, while there’s a smaller building at the rear of the property that contains a laundry and two bedrooms and measures 104sq m.

Colliers directors Ben Jamieson and Kris Ongley are marketing the property via deadline private treaty closing 4pm, Wednesday April 17, unless sold prior.

Predominantly constructed with timber cladding, corrugated iron and slate roofing, the residence boasts intricate timber joinery, while its foundations are firmly supported on piles. Overall, the property’s exquisite architectural attributes have been maintained, showcasing enduring original elements such as lofty stud ceilings and fine timber craftsmanship. Victorian-style housing features like ornate trimmings and decorative embellishments contribute to its charm.

Jamieson says there is considerable holding income from the short-term residents, while there is also scope to develop the property to truly maximise its potential, based on its zoning.