Huge Add Val Opportunity
Approximately 1,761m2 of vacancy | Central city location | Fantastic exposure to Khyber Pass Road
This versatile, standalone commercial building enjoys a prime location along the bustling Khyber Pass Road, renowned as one of Auckland's most recognisable commercial districts. The property offers a rare prospect for both Owner-Occupiers and Investors, featuring a Net Lettable Area of approximately 1,651m2 over three levels. A significant portion of this space, 1,280 sqm, is either currently available now or will become so in the short term, due to the nature of the existing tenancy profile.
Refurbishment and rental growth angles to add value
Sitting on a substantial 2,104 sqm freehold site, the building is currently owned by The Problem Gambling Foundation, which occupies 918 sqm over two floors. The remaining areas are leased or licensed to three separate tenants, yielding a gross income of approximately $144,890. Additionally, there are 51 car parking spaces situated at the rear of the building, accessible from Grafton Road and Arawa Street. The mixed-use zoning of the property offers the flexibility to cater to a variety of future uses, appealing to commercial, medical, residential, or accommodation operators..
Central City Location
Located on the popular Khyber Pass Road, this property boasts very convenient transportation links and is in close proximity to Auckland Hospital, the University of Auckland campus, Newmarket's popular shopping precinct (including Westfield), and is just minutes away from Auckland's bustling CBD.
Price by negotiation.