Develop or occupy options for unique Parnell property
A property with resource consent for a six-level apartment development but offering a host of other options and opportunities for its next owner is for sale in Parnell.
Located at 24 York St, the offering encompasses a distinctive three-level building, 427sq m of freehold land zoned Business – Mixed Use, with a 21m height overlay, and 16 carparks.
Featured in Bayleys’ latest Total Property portfolio, the property is being sold with vacant possession by tender, closing at 4pm on Tuesday, August 3, unless sold prior.
Alan Haydock, director of Bayleys Auckland City and Fringe team, says the listing will appeal to a range of potential purchasers including commercial and residential owner-occupiers, investors and add-value purchasers as well as developers. He is marketing the property in conjunction with colleagues JeanPaul Smit and Damien Bullick.
“This superbly presented commercial building encompasses two self-contained upper floors with a net lettable area of 608sq m, and covered, secure carparking on the ground floor in the sought-after suburb of Parnell, offering easy access to the neighbouring Auckland CBD, waterfront and motorways,” Haydock says.
“The property falls within the Double Grammar school zoning area for Auckland Grammar and Epsom Girls which increases its appeal for residential development. This is reflected in the fact that council consent has been sought and obtained for a new apartment development up to the maximum height level permitted of six levels.
“This consent could be actioned immediately, or the purchaser might look at other options such as converting the existing building to apartments or a combination of residential and commercial accommodation or retaining its existing use as commercial premises.
“The flexible Mixed Use zoning means the opportunities are many and varied both in the short and longer term.”
Smit says the two office floors, each 304sq m, are well presented and have been refurbished with new kitchen, bathroom and shower facilities.
The vacant top level comprises a reception, three adjoining, partitioned rooms and an L-shaped open-plan area with kitchen facilities. The level below has recently been extensively refurbished and provides attractive office accommodation with a mix of open-plan layout, partitioned rooms and kitchen area.
“This level is currently occupied by the vendor but will be made available with vacant possession or a short-term lease back in place.”
Fifteen carparks are located at ground level within the building with internal access to a lobby which also provides access to the upper floors. Another carpark is located outside the internal carpark.
“Undoubtedly, one of the most desirable attributes of the property is its excellent CBD fringe location, just a short stroll from the Parnell township and train station and also close to the CBD and its universities, the Domain, Auckland City Hospital, the waterfront as well as motorway connections north, west and south,” says Haydock.