A fully leased mixed-use property in one of Auckland's most tightly held city fringe suburbs is being presented to the market for sale.
It offers investors a diversified income stream in a location underpinned by strong residential and commercial demand.
Positioned at 25-27 Sandringham Road in Kingsland, the freehold property sits directly beside Kingsland train station and opposite Eden Park, placing it within easy reach of Auckland CBD and a wide range of lifestyle amenities.
The asset includes a mix of commercial and residential accommodation spread across two buildings on a 668sq m freehold site.
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The fully tenanted property returns approximately $378,000 in gross annual rental income and benefits from multiple income streams comprising 11 residential flats, a ground floor retail tenancy, and associated parking.
The character residential accommodation includes a range of one, two, three, and four-bedroom configurations which will appeal to a wide potential tenant pool.
The retail tenancy, trading as Urban Flowers, adds a further layer of income diversification, while annual tenancy renewals provide opportunities for future rental growth.
The asset has been actively managed by Wendell Property Management for more than 12 years, who have demonstrated proactive, hands-on maintenance of the property.
Constructed in the early 1900s, the buildings retain much of their original character, while benefitting from ongoing maintenance and refurbishment, including a full exterior repaint within the past 12 months and refreshed internal fit-outs.
The property is zoned Business - Local Centre Zone under the Auckland Unitary Plan, providing flexibility for a variety of residential, retail, commercial, and service-based activities while supporting the long-term appeal of the underlying landholding.
Colliers Brokers John Davies and Nikko Boxall have been exclusively appointed to market the property for sale via deadline private treaty closing at 4pm on Wednesday 5 August, unless sold prior.
Davies, Investment Sales Broker at Colliers, says there are multiple options for the new owner to consider, including repositioning the asset.
"The existing property managers have expressed an interest in continuing to manage the facility should the new owner acquire the building as a passive investment meaning the incoming owner could benefit from continuity at the property," Davies says.
"But there is scope to convert the property into a boutique lodge, Airbnb offering, or a flashpackers to capitalise on the building's proximity to Eden Park, which is only moments away.
"Widely regarded as one of New Zealand's premier entertainment venues, Eden Park hosts a multitude of sporting events and is in line to stage a growing number of concerts in the future."
The property will also benefit from Auckland's continued investment in public transport infrastructure.
The City Rail Link, expected to open later this year, is anticipated to further strengthen connectivity across the rail network, with city fringe suburbs such as Kingsland likely to remain highly desirable for residents seeking convenient access to the CBD and wider Auckland region.
Boxall, Investment Sales Broker at Colliers, says the property's proximity to public transport is a key drawcard.
"Residential properties located near major public transport infrastructure continue to attract strong tenant demand, particularly in established city fringe suburbs where accessibility and convenience are highly valued," Boxall says.
"Being directly adjacent to Kingsland train station and within minutes of the CBD places the property in a highly accessible catchment that continues to appeal to a broad range of tenants.
"Kingsland has evolved into one of Auckland's most established city fringe precincts, supported by a vibrant hospitality scene and strong public transport links."
- Supplied by Colliers
