Rare mixed-use options in Ponsonby
A mixed-use property in Ponsonby offers buyers a rare chance to secure a new home with commercial income, a weekend pad or a diversified investment in one of Auckland’s most desirable city-fringe locations.
The modern, architecturally designed four-level property sits prominently on Jervois Rd close to the vibrant Three Lamps precinct. It combines a well-presented vacant three-bedroom townhouse with a fully leased ground-floor commercial unit plus four carparks.
The two residential levels offer occupiers sweeping north-facing water and city views, while the ground-level commercial unit is occupied by a psychologist’s practice.
This generates an annual net rental return of $28,770 plus outgoings and GST. The current lease runs through to October 2024, with a further three-year right of renewal. The lease agreement provides for a market rent review at renewal.
27 Jervois Rd is being marketed by Damien Bullick, Alan Haydock and Jock Kooger of Bayleys Real Estate by tender closing on Tuesday February 27, unless sold prior.
The property consists of a 234sq m building on a quarter share of an approximately
800sq m freehold site with no body corporate.
The site is zoned Residential–Terrace Housing and Apartment Buildings under the Auckland Unitary Plan.
“It’s quite rare to find a mixed-used residential and commercial property of this nature for sale in this highly sought-after corner of Auckland’s CBD fringe,” Bullick said. “This presents a unique offering for new owners with options as a home with commercial income, a central city bolthole or as a diversified split-risk investment.”
Constructed in the mid-1990s, the building contains a commercial tenancy of 54sq m on the ground floor with one external carpark at the rear of the property.
The residential portion is also accessed via the ground floor, with stairwells leading to the living area on level one and the basement/garaging.
In addition to generous open-plan living/ dining on level one, the property benefits from a north-facing deck, offering attractive views over Waitemata¯ Harbour and the city.
Level two contains three generously sized bedrooms with excellent natural light and two bathrooms.
The basement level, which can be accessed internally or via the rear driveway, offers parking for up to three cars along with additional storage.
The property sits near the busy intersection of Jervois and Ponsonby roads and Three Lamps.
Haydock said the position afforded a prominent profile to some 11,000 passing vehicles each weekday. “Just a short distance from the city centre, this site is easily accessible by public transport including frequent InnerLink buses and road access to the motorway network is a five-minute drive away,” he said.
Kooger said that with a median house price of around $2 million, Ponsonby’s status as one of New Zealand's most sought-after residential suburbs was well known.
“Ponsonby and Jervois roads have also continued to gain strength as business locations, with many retailers and restaurateurs preferring this area over Auckland’s CBD as their primary location.
Kooger add that some of Auckland’s finest boutiques, restaurants and bars are located here alongside small businesses, giving this city-fringe suburban precinct a vibrant feel that belies its size of only a few thousand residents.