Character office with lots of options
A freehold site in one of Auckland’s most sought-after city fringe locations is on the market for sale, providing buyers a chance to secure a character office space.
16-18 Mackelvie Street sits on an expansive freehold site within the affluent suburb of Grey Lynn, comprising a two-level commercial building constructed in 1963. The building has recently been refurbished to quality and character office space.
The improvements provide office and a workroom on the ground floor together with open plan character office accommodation on the first floor. A sealed carpark area is provided to the front of the building for
12 stacked carparks and 9 fully open carparks as well as access to a loading dock.
The 1,328sqm site is an irregular shaped parcel with frontage to Mackelvie Street of approximately
30.5 metres and a depth of approximately 40.2 metres. At the rear, the site has a width of approximately 35.5m.
The property has a net lettable area of 1,180sqm and is being sold with 100% occupancy by single tenant Alt Group Limited, with the lease expiring on 30 April 2022 with no further rights of renewal.
JLL Brokers Jason Armstrong and Alex Wefers have been appointed to present 16-18 Mackelvie Street, Grey Lynn for sale by Deadline Private Treaty
Closing 4 pm, Wednesday 28th April 2021 (unless sold prior).
Armstrong says in its current guise, 16-18 Mackelvie Street is one of the most attractive office spaces in Grey Lynn. The property also has a number of access points which lends itself to creating multiple tenancies.
“Under the same ownership for the past 22 years, the property has been extremely well maintained and offers a very real opportunity for owneroccupiers, investors and developers alike,” says Armstrong.
“With around 12 months to go on the current lease it provides a secure income today, upside in a year’s time, and great development potential to add significant value in the future.”
Located only a short walk from public transport links, major transportation routes, and the host of amenities provided on Ponsonby Road, the property’s Business-Mixed Use zoning provides for a range of smaller scale commercial options like apartments, hotels, student accommodation, offices, cafs, bars, restaurants, and retail.
“Opportunities to secure properties like this within a substantial growth area and in close proximity to Ponsonby and the CBD seldom come available. The neighbourhood has been of significant interest to developers in recent years,” says Wefers.
“Only two sites over at 12 Mackelvie Street is the recently completed SOMA, a six-level apartment building featuring 38 residential apartments and commercial space on the ground level. Almost opposite 16-18 Mackelvie Street is a new 3,900sqm office building at 22 Pollen Street.”