Owner occupiers, add value investors and developers are being targeted in the sale of a substantial corner property with a Mixed Use zoning in the fast changing Auckland suburb of Morningside.
The 2,039 sq m site in three titles at 14,16 and 18 McDonald St currently has two levels of workroom, warehouse, office, showroom and storage space totaling 1673 sq m.
Featured in Bayleys’ latest Total Property portfolio, the offering is being marketed by Greg Hall and James Valintine of Bayleys’ Central and West Auckland industrial division. It is up for tender with vacant possession as one lot, closing at 4pm September 14 unless sold prior to that date.
“Given its prominent corner position with Altham Ave, the property offers great road frontage and exposure as well as multiple access points,” says Hall. “While most recently used for light manufacturing purposes, the buildings could easily be adapted to suit the requirements of a new owner occupier, refurbished and reconfigured by an add value investor to accommodate multiple tenants or redeveloped to maximise the zoning and site area.
“The site has significant development potential under its Auckland Unitary Plan Business - Mixed Use zoning enhanced by the fact that it is extremely well located,” says Hall.
Hall says the majority of the ground floor at 14-16 McDonald St is open plan manufacturing, storage and showroom space with access via two roller doors allowing for good product flow in and out. “It has excellent natural light throughout and could easily be converted to showroom and/or retail space,” he says.
“The first floor is a combination of workroom/manufacturing space, office and amenities. The upper level open plan workroom also enjoys plenty of natural light with a good stud height. The office and amenities include two partitioned offices and a large lunch room for staff.”
An adjoining modern tilt slab warehouse was added on the western side of the property at 18 McDonald St for high stud storage and a mezzanine provides for additional space. Access is via a full height roller door on the McDonald street frontage, allowing for internal truck access and deliveries.
Carparking is available around the exterior of the whole property with a large yard on the western side of the site providing access for container devanning or further carparking.
“Overall the building is functional and could easily be refurbished to suit a new occupier or repositioned or the site could be completely redeveloped,” says James Valintine.
He says the property is located in a major fringe city growth location which is expected to continue to undergo a significant shift in use as a result of the change from a Business 4 zoning under the old Auckland District Plan to a more flexible Business Mixed Use zoning under the Auckland Unitary Plan which has a wider range of permitted uses, including residential.
“It’s a location that has been dominated by light industrial activities. However, the fact that it has strong public transport links and is just a 5.5 kilometre drive to the CBD means it is poised for significant multi-level commercial and residential development.
“That transition has already started with the recent development of a number of low-rise residential complexes and the repositioning of some warehousing into higher value uses such as retail and showroom and live/work premises.
“This property could be redeveloped into a mix of commercial and/or residential activities or given the unobstructed corner location which provides plenty of natural light it could be ideally suited to an intensive multi-unit development across the whole site.”
Hall says Kingsland Village, with its popular mix of retail, cafes, bars and restaurants, is a short walk away from McDonald Street and both the Morningside and Kingsland Train Stations are within easy walking distance of the property.
“The western rail line, on which both stations are located, will link with the City Rail Link, which will noticeably improve access and reduce travel times into Auckland’s CBD when it’s completed. This along with the ongoing mixed use rejuvenation of Morningside should make it an increasingly sought after location.”