A commercial building in Albany that will appeal to owner-occupiers and investors is available for purchase.
Lot 2, 229 Dairy Flat Highway in Albany on Auckland’s North Shore has approximately 1,572sq m of total net lettable area on a 3,338sq m freehold site.
Formerly utilised as a supermarket, the building is currently leased by Massey University who used the facility for their design school. Massey’s lease expires on 31 January 2026, providing passing rental income of approximately $390,000 plus GST per annum.
With approximately 45 car parking spaces and multiple bus routes nearby, the property provides convenience for future users.
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The strategic location offers easy access to the motorway network with Auckland’s CBD reachable in 20 minutes in off-peak conditions.
Albany has been targeted as a key growth node by Auckland Council and the area has seen extensive development in recent years with major commercial and mixed-use projects coming to life, as well as a number of apartment blocks.
North Harbour Stadium is only moments away, while Westfield Albany and its surrounding hospitality options are all in walking distance.
The property is zoned Business – Local Centre Zone under the Auckland Unitary Plan.
Colliers Directors Shoneet Chand and Matt Prentice have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 25 June, unless sold prior.
Chand, Director of Investment Sales at Colliers, says owner-occupiers and investors will have considerable interest in this offering.
“The vast number of car parks for a property of this size is a considerable drawcard and there are very few comparable properties in Albany that are currently available on the open market,” Chand says.
“This property presents an owner-occupier with the chance to enjoy holding income until early next year while they plan their future moves before taking over a building where they can control their own destiny without being bound to future lease agreements.
“Investors may seize the chance to capitalise on this offering and lease the property and it has the potential to be tenanted by a broad range of businesses or users.”
Prentice, Director of Sales and Leasing at Colliers, says there is also a development angle that could be explored given the zoning of the property, while there is scope for it to be subdivided, subject to the relevant consents.
“As outlined in the Auckland Unitary Plan, the Business – Local Centre Zone applies to a large number of small centres throughout Auckland. The centres are generally located in areas of good public transport,” Prentice says.
“The zone primarily provides for the local convenience needs of surrounding residential areas, including local retail, commercial services, offices, food and beverage, and appropriately scaled supermarkets.
“It also allows a total building height of 18m meaning the usage of this site could be intensified in the future, which is a compelling long-term prospect.”
- Supplied by Colliers
