A strategically located commercial building in central Auckland presents buyers of all kinds with the opportunity to secure an asset that can be used for a range of different purposes.
40 Eden Crescent is a multi-level office building in the eastern fringe of Auckland’s CBD and offers 930sq m of net lettable floor area on a 458sq m site that is zoned Business – City Centre Zone under the Auckland Unitary Plan.
Available with vacant possession, the property has 14m of street frontage to Eden Crescent and offers 23 car park spaces spread across the basement and ground floor levels, while there’s four levels of office space above. The lift in the building was recently replaced.
Access to the motorway network is less than 1km away, providing connectivity across Auckland, while there’s a host of public transport options in comfortable walking distance.
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Colliers Directors Adam White and Matt Prentice have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 29 March, unless sold prior.
Originally constructed in the 1980s, the building has an A-plus NBS rating and has potential in spades given it is currently vacant.
White, Associate Director of Investment Sales at Colliers, says buyers can acquire a versatile asset that can be positioned in a number of ways.
“Given the property’s proximity to the Auckland High Court, which is less than 200m away, this could serve as a legal office and provide owner-occupiers with the chance to own their own premises and not be bound to a lease,” White says.
“An investor may choose to purchase the property and lease it with a new tenancy mix, while alternatively, with no current tenant profile, the building could be refurbished and there is scope to add gross floor area to the building to use it as an accommodation or apartment complex with a bulk on-location report and concept drawings available.”
Prentice, Director of Sales and Leasing at Colliers, says the flexible zoning of the property adds to the range of options on offer for prospective purchasers.
“The Business — City Centre Zone seeks to ensure the city centre is an international centre for business and learning, innovation, entertainment, culture, and urban living,” Prentice says.
“To maintain and enhance the vibrancy of the city centre, the zone permits a wide range of activities to establish in most parts of the city centre.
“The zone also manages activities that have the potential to adversely affect the amenity of the city centre or that have the potential to generate reverse sensitivity effects on identified marine and port activity areas.”
White says the location of the property is a major drawcard given it is conveniently placed near a host of key sites in Auckland.
“The University of Auckland and AUT are approximately 250m away, while Queen Street can be reached via a short walk opening up access to a diverse mix of hospitality and shopping options.
“The Britomart Transport Centre is less than 800m away while the ferry terminal is easily reachable. Spark Arena – a prime spot for major concerts and sporting events – is also only minutes away.
“With so much future potential on offer we expect there will be significant interest in this property from varied buyer segments of the market and encourage all interested parties to make contact with us immediately.”
- Article supplied by Colliers
