A mixed-use property for sale 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 arterial Jervois Road close to Ponsonby’s vibrant Three Lamps precinct. It combines a well presented vacant three-bedroom townhouse with a fully leased ground-floor commercial unit plus four car parks.
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.
The property at 27 Jervois Road, Ponsonby, Auckland, is now being marketed for sale by Damien Bullick, Alan Haydock and Jock Kooger of Bayleys Real Estate.
Sale is by way of a tender closing on Tuesday 27 February, unless the property is sold prior.
The property for sale consists of a building of some 234 square metres on a quarter share of an approximately 800-square-metre freehold site, with no body corporate. The site forms part of the Residential – Terrace Housing and Apartment Buildings zone 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 bolt hole, or as a diversified split-risk investment.”
Constructed in the mid-1990s, the building contains a commercial tenancy of some 54 square metres on the ground floor with one external car park included in the lease 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 to the basement/garaging.
In addition to the generous open-plan living/dining on level one, the property benefits from a north-facing deck, offering attractive views over Waitematā 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 the lively Three Lamps precinct.
Haydock said the building’s positioning afforded it 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,” said Haydock.
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.
“Some of Auckland’s finest boutiques, restaurants and bars are located here alongside small businesses, giving this suburb a vibrant feel that belies its size of only a few thousand residents. The property for sale will enable new owners to capitalise on both the residential and commercial strengths of this area,” Kooger said.