Occupy or develop Epsom landholding
A low-rise commercial office premises with development upside in the city-fringe suburb of Epsom, within the double grammar zone, has been placed on the market.
190 Great South Rd encompasses
1095sq m of office accommodation spread over two levels with 28 onsite carparks.
The property occupies 1587sq m of freehold land zoned Business– Local Centre with an 18m height overlay.
Featured in Bayleys’ latest Total Property portfolio, the property is being sold with vacant possession by tender, closing at 4pm, Tuesday, 27 September, unless sold prior.
Jill Downie, a salesperson with Bayleys’ Auckland and City Fringe team, says the listing will appeal to a range of potential purchasers, including commercial occupiers, investors, those looking to add value and developers.
She is marketing the property with colleagues Alan Haydock and Damien Bullick.
“The modern stand-alone property encompasses two floors of office accommodation, plus covered and open basement carparking in the highly-desirable suburb of Epsom, which offers easy access to the Remuera train station, motorway links and the CBD,” Downie says.
“The property has been well built with excellent A-grade seismic strength, assessed at 109 per cent NBS, which offers immediate value for commercial occupants.”
The building was originally constructed in the 1980s on the rectangular-shaped site with a wide street profile on Great South Rd and to Patey St at the rear.
Haydock says the H-shaped building comprises 567sq m of wellpresented ground-floor office and 528sq m of first-floor office accommodation with abundant natural light.
“While the property presents an excellent opportunity for occupiers, one of its most desirable attributes is undoubtedly its landholding in an excellent location within the CBD city fringe,” Haydock says.
The property is within the double grammar school zone area for Auckland Grammar and Epsom Girls, which Haydok says increases its appeal for future mixed-use development.
It is a short stroll from bus links, Remuera train station, local shops and cafes.
The zoning reflects a high level of connectivity to public transport and provides for the local convenience needs of surrounding residential areas.
Downie says future development could entail retail, commercial services, and food and beverage, typically up to four levels, enabling residential use on upper floors, which is attractive to developers looking to capitalise on this location.