A versatile premises on two separate titles represents a multi-purpose opportunity for investors searching for assets with solid development credentials, Bayleys salespeople say.

The standalone building on 303sq m (more or less) of freehold land at 20 Newton Road consists of two unit-titled units located on separate floors within walking distance to Ponsonby Road and Auckland’s Central Business District.

Bayleys Auckland Metro Markets associate director James Were says it is positioned as an attractive investment prospect, with significant potential for income diversity, stable cash flow, and development upside.

“Current vacancy offers flexible use options for owner-occupiers, while add-value purchasers, long-term investors, and developers will recognise merit in the prime location and development fundamentals,” he says.

Mr Were is marketing the property for sale by tender closing at 4:00 pm on Tuesday, 7th May 2024.

“Zoned Business – City Centre under Auckland’s Unitary Plan, the site benefits from the greatest density provisions in height and floor area, presenting an extremely desirable opportunity, particularly given the high degree of current interest in Auckland’s urban infill development market.

“The property is situated in a rapidly evolving residential area with many recent developments. This presents an additional option for a new owner to unlock significant value should they explore future development, such as high-density housing or a mixed-use project.”

The total floor area spans 450sq m (more or less) over two levels with four off-street car parks. It was constructed circa 1965 and strengthened in 2014, reflecting a seismic assessment of 90 percent (A-grade) of New Building Standard.

The ground floor comprises clear-span on-grade commercial space suitable for use as a showroom/warehouse, trade retail, or office.

Accessible via a stairwell from the Newton Road frontage, the first level provides high-stud character offices or attractive residential accommodation.

The 224sq m (more or less) upstairs floorplate provides two large open-plan areas with three rooms and an internal deck. It is fully self-contained with kitchen, laundry, and bathroom facilities.

Mr Were says the configuration would support an owner-occupier in leveraging versatile use options and generating supplementary cash flow.

“Businesses can utilise the ground floor for operations while leasing out the upper floor, creating a split-risk investment with potential for dual tenancies. Alternatively, the property can accommodate a live-work set-up, offering versatility for various business models.

“Moreover, the industrial aesthetic, abundant natural light and spacious interior floorplan make for an appealing option for residential use, pending approval from the local council.

“Over the past decade, Newton has shed its commercial transit reputation to become a highly sought-after city-fringe location, in demand amongst occupants for its proximity to amenities, access to transport infrastructure and urban amenity hubs.

“Tertiary institutes like the University of Auckland, the Auckland City Hospital and Auckland Domain are within walking distance of the subject property, making it a popular location for commuting students and professionals.

“The property is also proximate to Newmarket and Mount Eden - set to benefit from future growth as the City Rail Link is completed in 2026, offering streamlined transit from Downtown Auckland up to the western corridor through Newton and Eden Terrace.”

Click here for more information on the listing.