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Prime opportunity to purchase sought-after Mt Eden properties

Tags: Auckland Residential

The administration office and a leased residential building owned by Auckland-based national addiction treatment provider Odyssey have been placed on the market for sale.

Odyssey chief executive officer Philip Grady says the organisation recently purchased a new community base in New Lynn, and the refurbished building will provide a new way of working in the community and reaching people who are in recovery from drug and alcohol misuse, with a public café and community rooms available.

The sale of the two buildings will enable Odyssey to relocate front-line staff to areas most in need of services.

Odyssey employs 140 staff at nine locations across the Auckland region working in both residential and community settings, including reaching out into schools and primary care sectors. Odyssey’s administration centre at 390 Mt Eden Road encompasses a 239 square metre two-storey converted residential dwelling built in the early 1900s and sitting on 1122 square metres of land.

The location, which has two road frontages, is zoned Residential 2B and has the potential to be reinstated to a dwelling configuration.

Meanwhile, the residential unit at 15 Mont Le Grand Road is a 268 square metre five bedroom villa-style residence with separate studio unit sitting on 688 square metres of land.

The villa dates back to the early 1900s and is in a Residential 5 zoning – moving to Mixed Housing Suburban under the Proposed Auckland Unitary Plan currently being reviewed.

The property is being sold as a tenanted investment with residential occupants. It has a lease in place to Odyssey House until 2017 and generates a rental income of $58,080.72 per annum.

The main house has three toilets, four showers, and a large communal kitchen. The detached studio also has a shower and toilet in a room adjacent to the bedroom and living spaces. Odyssey has owned this property since 1989.

The two well maintained properties are being marketed for sale by Bayleys Auckland through a tender process closing on April 16. Bayleys salesperson Mike Adams said the buildings could be purchased either individually or separately.

Mr Adams said the Mt Eden Road property has the option to continue being used as commercial premises under ‘existing use’ rights, or alternatively could be converted back into an attractive residential dwelling under its zoning classification.

Mr Adams said Odyssey had already indicated it would look at entering into discussions with any new potential purchaser with a view to extending the lease opportunities.

Odyssey treatment services assist over 1500 people a year in recovering from addiction, with both young people and adults seeking treatment. Many of these


people have addictions to multiple substances, the most commonly used substances being alcohol, cannabis, and methamphetamine.

Odyssey offers addiction treatment both in the community and in specialised residential centres. The goal is to offer the best option based on the person’s needs and circumstances.

Further development and innovation is a cornerstone of Odyssey - with increased emphasis on finding new ways of addressing community issues related to alcohol and drug misuse.

“As a healthcare service provider, Odyssey has an excellent reputation. However, as many charitable organisations are finding, they are having to streamline operations where maximum returns are delivered from all assets to enable the services to deliver the best value for money to the health system ,” Mr Adams said.

“Both addresses are in much sought-after parts of Mount Eden – albeit at different boundaries. The Mount Eden Road property is surrounded by a growing number of mixed-use premises, or similarly designed large houses which have been converted into professional services offices tenanted by the likes of small accountancy, medical, or architecture and building design firms.

“With minimal internal structural alterations, the lay out of the building would allow for either a single or multiple occupancy tenancies. There is considerable off-street parking space for both potential staff and customers of any new business tenants, with the ability to add more parking amenities easily.”

For further information on the sale of the Odyssey properties, or additional images of either address, contact Mike Adams at Bayleys. Telephone 09 375 6866.

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