Opportunity, and a touch of glass, in popular Epsom
A fully occupied, tenanted investment with prominent positioning in the thriving innercity suburb of Epsom has come to the market.
19 Great South Rd, Epsom, comprises a modern, four-storey building spread across 1590sq m on a rectangular shaped site.
Constructed in the 1970s, the exterior of the building features glass cladding, making for a unique look and feel.
The property is jointly marketed for sale by deadline private treaty by JLL brokers Kevin Reardon and Tommy Zhang, and Colliers brokers David Burley and Kris Ongley, closing at 4pm, Thursday December 7, unless sold prior.
The immediate vicinity features predominantly commercial property, with a few apartment complexes nearby.
The nearby suburb of Newmarket features one of Auckland’s most popular shopping hubs, the Westfield shopping centre.
The area is also served by excellent public transport, with bus stops lining the nearby arterial routes of Great South Rd and Broadway.
The Southern Motorway is just 500m away, allowing for unparalleled connectivity to the wider Auckland region.
The property is currently occupied by a range of different tenants and returns $686,651 plus GST annually.
It is anchored by Elizabeth Arden, the beauty and cosmetics retailer with stores across the globe.
JLL metro sales senior broker Kevin Reardon says the property boasts innate qualities and low vacancy.
“As it is, the building is in great condition with prominent profile in an affluent suburb that boasts a host of public transport options and connections to the CBD and motorway network,
He says it is well positioned for today and well into the future.
“19 Great South Rd is not only situated within the highly desirable doublegrammar zone area, but also benefits from favourable Business–Mixed Use zoning, which allows for development of up to four storeys.
“This location is already a thriving residential and commercial neighbourhood.
“With an increasing demand for a better work-life balance outside the city centre there is significant potential for long-term redevelopment opportunities, including the construction of apartments, hotels, mixed-use buildings, and more,” Reardon says.