The enduring popularity of the Auckland city-fringe suburb of Grey Lynn as a commercial destination is illustrated well by a character standalone villa on a prominent corner site that is now for sale.
Having previously missed an opportunity to buy this property, and unable to find another property to match it, the vendors waited more than 10 years for it to come back on the market then snapped it up.
After an empathetic and functional full refurbishment of the villa to suit the day-to-day needs of their boutique law firm, more space is now required for the growing business so 15 Surrey Crescent, Grey Lynn is up for tender through Phil Haydock and James Were of Bayleys Auckland Central, closing 21st November, unless sold prior.
The circa-173sqm standalone villa with carport and nine on-site car parks occupies a 708sqm freehold site, is zoned residential with existing commercial usage rights and will be sold with vacant possession.
It offers a mix of open-plan space and private office or meeting rooms, new bathrooms and kitchen amenities, abundant natural light and a north-facing deck area for staff or client entertaining.
With a seismic assessment rating of 75% new building standard, Haydock says the property would suit add-value investors, residential or commercial owner-occupiers, and could potentially provide a live-work solution for a small business owner.
“Grey Lynn is a hotly-contested city fringe suburb with a good balance of commercial and residential property and an eclectic mix of design styles.
“This classic villa has a commanding presence on the corner of Surrey Crescent and Browning Street, and experience shows that well-presented character space is particularly sought-after by occupiers in the broader Ponsonby-Grey Lynn area, which underpins the investment equation of the property.”
Were says this style of space traditionally finds favour with specialist medical providers, beauty businesses, creatives, law firms, accounting practices and other professional services.
“It has all the fundamentals for an innovative business looking to move away from a traditional office environment to a workplace with some soul, in a superb postcode, and with good carparking ratios – certainly not a given in many city-fringe or central locations.
“The property’s neutral colour scheme and timeless fixtures and fittings provides a professional office environment with homely touches.
“Alternatively, if a buyer wished to revert the property back to solely residential use, some internal reconfiguration could be required to reinstate some services, such as the kitchen which is currently located off the carport.”
Over the last decade, Grey Lynn has evolved significantly, according to Haydock.
“The suburb has undergone a spectacular transformation to become a modern, urban community where affluent families have renovated many of the old villas that dominate the area, and it is a favoured location among Auckland’s top developers, too.
“To name a few, there’s the Great North Road Bunnings Warehouse, North and Crest Apartments, the new Williamson Ave Countdown supermarket, as well as the imminent Greenhouse apartments, Giltrap’s head office and showrooms for luxury car brands and the redevelopment of the old St Joseph’s convent into a now popular boutique hotel and the Ada restaurant.
“Grey Lynn has proven growth credentials, is well-connected transport-wise and has high levels of amenity drawing on Ponsonby and Karangahape Roads to round out local retail, service and recreational offerings.”