Some commercial properties offer income. Others offer position. The stand-alone building at 2–4 Hargreaves Street, Freemans Bay, delivers both - combining scale, convenience and long-term flexibility in one of Auckland’s most vibrant city-fringe precincts.
Set just off the College Hill ridge, the property is being brought to market by Ian Hall and Cam Paterson of Barfoot & Thompson Commercial.
It is for sale by Expressions of Interest, closing 2pm, Thursday 2 July 2026, unless sold beforehand.
Hall says the asset’s appeal lies in the extraordinary range of options it gives buyers.
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“This is a substantial stand-alone building in a location that continues to evolve,” he notes.
“For an owner-occupier, it presents the chance to create a flagship base close to Auckland’s CBD, Ponsonby and Victoria Park. For an investor or developer, it offers immediate income alongside genuine future upside.”
The property carries a strong seismic rating of 113% NBS (placing it in the A+ category) and is supported by a Business – Mixed Use zoning under the Auckland Unitary Plan.
One of its strongest long-term drawcards is the approved resource consent, dated December 2023, that provides a pathway for residential development above the current office floors.
Existing design concepts explore repositioning the building through to the addition of further premium residential levels.
The approved plans contemplate large-scale apartment living more commonly associated with stand-alone luxury homes than traditional inner-city apartments, including substantial floorplates, expansive outdoor living areas and elevated views across Victoria Park, the city skyline, Waitemata Harbour and Rangitoto Island.
In a location so close to the CBD, that combination of scale, outlook and privacy is increasingly difficult to replicate.
In addition, those future possibilities sit alongside a substantial existing commercial asset. T
he building occupies an 807m2 freehold site and features three levels of modern office accommodation.
The net lettable area totals approximately 1,513m2, with each level offering large, circa 500m2 floor plates, excellent natural light, high stud and exterior decks.
Two of the office floors have been recently refurbished and are ready for immediate occupation.
The ground floor is leased to Satellite Media Limited until January 2027, while part of level two is occupied by Affinity Employer Services Limited on a monthly basis.
Total current income is approximately $346,500 per annum, with clear scope for additional income, owner-occupation or repositioning.
Featuring 50 secure basement spaces - a parking ratio rarely found this close to the central city - the property also benefits from practical, immediate access to key motorway routes via College Hill, Fanshawe Street and Wellington Street.
This long-term appeal is further underpinned by the surrounding residential and commercial momentum.
Nearby Herne Bay, St Marys Bay, and Ponsonby remain among Auckland’s most premium residential enclaves, while ongoing apartment developments, major commercial investments, new hotels, and the continued growth of the Wynyard Quarter all add significant value to the College Hill and Victoria Park precinct.
“Freemans Bay has always had a rare balance,” Paterson says. “It is close to the city, but not engulfed by it. That is exactly what gives this property its long-term relevance.”
- Supplied by Barfoot & Thompson
