Takapuna building ticks all the boxes for investors
A prominent Takapuna commercial building, available with vacant possession and favourable Mixed Use zoning, is being offered for sale and will appeal to owner-occupiers, investors and developers given its significant potential.
42 Taharoto Rd features a 605sq m showroom and office premises on a
1165sq m freehold site and includes 17 on-site carparks. The motorway network is easily reached.
The current building has 15m of high-profile frontage to Taharoto Rd, which enjoys large volumes of passing traffic.
Until recently the property was the home of a successful music retail business. The vendor, who has owned the property for more than 40 years, has made it clear they want it sold.
The Business–Mixed Use zoning allows for a wide range of commercial and retail activity, as well as residential use, adding to the broad appeal of this property.
Colliers directors Matt Prentice, Jimmy O’Brien and Shoneet Chand are marketing the property via deadline private treaty closing at 4pm, Tuesday December 5, unless sold prior.
The versatile building, which is an open canvas for repurposing or redevelopment, lends itself to a wide variety of uses from retail or medical to professional services.
Prentice says the property will draw interest from a range of parties. “With vacant possession available, an owner-occupier may choose to purchase the property and immediately begin trading or embark on their own refurbishments.
“There is also strong appeal for investors as they could lease the property to a new tenant, which could all happen rapidly given there’s no existing occupants.
“Commercial and residential developers could take advantage of this sought-after location to create a development that intensifies the use of the site and maximises its value,” Prentice says.
O’Brien says the surrounding properties have undergone notable changes as part of ongoing development in the area.
“Taharoto Rd is a major thoroughfare with multiple lanes in both directions. A number of dwellings in this part of Taharoto Rd have been converted to professional office use, including a veterinary business, chiropractor and denture manufacturer.
“The high-profile site is brilliantly positioned to access the Northern Motorway via the Northcote Rd interchange or north via Barrys Point Rd and is midway between the Takapuna shopping precinct and the industrial area of Wairau Valley.”
Chand says it is rare to see the combination of favourable zoning, desirable location and vacant possession all in one offering, which is underpinned by a motivated vendor.