With lending rates trending downwards and cash on term deposit seeing dwindling real returns, a Parnell office opportunity could pique the interest of owner-occupiers looking to secure a foothold in one of Auckland’s preferred inner city suburbs.

Located on the ground floor of the well-maintained Quest serviced apartments building at the corner of Heather and Cheshire Streets, Parnell, the unit-titled office provides 104sqm of space, including a north-facing 20sqm private-use covered deck. Two secure basement car parks and a storage unit accessed via a lift are also included, along with unlimited access to the Quest’s onsite fitness facilities comprising an indoor lap pool and small gym.

The office layout provides light and airy open-plan workspace flowing out to the deck area through slider doors, a generous boardroom, kitchen and private bathroom with shower.

The property will be sold with vacant possession and is ready to occupy with an adaptable neutral fitout. Given the flexible layout, high-profile position, plus strong visibility and access, it would suit not only customer-facing service businesses but could equally serve as quality, private office space.

Heather Street is a quiet side street just off the Parnell Rise retail and hospitality strip, it is a 10-minute walk from the Parnell train station with an underpass through to the Auckland Domain, and around 2.5km drive from the CBD.

The commercial unit known as 301/6-8 Heather Street, Parnell is for sale by deadline private treaty closing Thursday 11th September, unless sold prior, through James Were of Bayleys Auckland Metro team, and Chris Urry of James Group.

Were says it is not often that opportunities of this size become available in Parnell, with commercial property in general tending to be held for the long-term in the popular inner-city suburb.

“Parnell property is typically held as intergenerational investment assets, or by owner-occupiers their own use. The subject unit is currently owned and occupied by a financial management business which has operated from the site for more than 10 years.

“It’s been a really workable location for them and would transition well to any number of business types. The unit would give a new owner turn-key entry to a preferred commercial precinct, with the added benefit of onsite fitness facilities to round out the high level of amenity offered by Parnell itself.”

Enquiry from owner-occupiers looking to invest capital into their own premises is ramping up, says Were.

“Downwards interest rate movement is one of the drivers, with security of tenure another. Business owners are wanting to take control over their real estate future and banks are looking favourably on businesses with robust cashflow.

“Parnell remains an aspirational location for commercial operators and the Heather Street property offers a unique opportunity for a business to position itself strongly in a tightly-held market.”