Possibilities abound for Union St building
A three-level standalone commercial building in Auckland’s CBD with an abundance of car parking will offer a range of possibilities for investors when it becomes vacant later this year.
Located on a freehold 1897 sqm site at 23 Union Street, with a zoning which allows for future development up to a height limit of 40 metres, the property currently comprises a refurbished office and showroom building with an A Grade seismic assessment and net lettable area of 2594 sqm.
The property is for sale or lease by tender closing 4pm, Tuesday, June 1, 2021, unless sold or leased prior to that date. It is being marketed by Bayleys Auckland City & Fringe director Alan Haydock in conjunction with colleagues Phil Haydock and Brendan Graves.
Haydock said a standout feature of the offering is its 62 car parks, including 45 in the building’s basement.
‘‘The building also has an impressive upper level of high-stud character office accommodation and a versatile ground floor with a loading dock with roller door access. This level is well suited for office or showroom/retail use given the high number of on-site car parks.’’
Graves said the building is generally
well-presented with attractive character features including polished wooden floors, glazed partitioning, exposed building services and excellent stud heights with an exposed pitched ceiling on the upper level.
‘‘The good-sized floor plate areas of just over 1200 sqm, accessed from a central lift, also provide occupants with plenty of flexibility in terms of how they structure their workspace. It would be well suited to a co-working enterprise as well as a more traditional office set up.’’
The building is currently temporarily
housing the Auckland City Mission while it is redeveloping its Hobson St site into a new $110 million, 10-level complex.
The City Mission is scheduled to move into is new premises in November freeing up the 23 Union St site for occupation by its new owner from that date. Haydock said the vendor is negotiable on longer settlement terms to fit in with the requirements of the purchaser.
‘‘Located in a vibrant and popular commercial and residential CBD precinct, this property provides an outstanding opportunity for business
owner-occupiers or tenants seeking a high-profile CBD headquarters with plenty of on-site car parking,’’ he said.
‘‘It also provides attractive options for developers needing time to plan how to extract the most from this City Centre zoned site that permits intensive development up to 40 metres.’’
The zoning permits a wide range of activities including residential, commercial and retail uses. It enables the greatest density of development in terms of height and
floor area under the Auckland Unitary Plan.
Recent nearby developments have included the Sugar Tree and Union Green apartment complexes.
The rectangular shaped site has around 30 metres of frontage to Union Street providing high profile exposure to passing traffic which includes vehicles exiting and accessing the southern and north western motorways and the Wellington St on ramp to the Harbour Bridge.