An office and warehouse building with favourable zoning in St Johns in Auckland is being presented to the market for sale or lease and will appeal to a wide range of buyers or tenants given the long-term upside on offer.
Located at 110-112 Felton Mathew Avenue, the large landholding spans 4,221sq m and has 2,071sq m of building area.
The property is available with vacant possession and the configuration of the two bay warehouse that spans 1,732sq m means it could be positioned for a multi-tenant arrangement or a potential change of use in the future.
This freehold offering is zoned Business – Mixed Use Zone under the Auckland Unitary Plan.
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This zone is designed for areas around public transport corridors and centres to provide a compatible mix of residential and primarily smaller-scale commercial activities. There is a range of possible building heights depending on the context and provisions typically enable heights up to four storeys.
St Johns has access to key transport links such as State Highway 1, Glen Innes train station, and bus routes, as well as arterial roads. It is an amenity-rich location with the Lunn Avenue shops nearby and Sylvia Park only a few minutes away.
Colliers Directors James Dickey, Ben Cockram, and Hamish West have been exclusively appointed to market the property for sale or lease via deadline private treaty closing at 4pm on Wednesday 5 November, unless sold prior.
Dickey, Associate Director of Industrial at Colliers, says the Business – Mixed Use zoning is a major drawcard given the flexibility it will provide potential buyers who can move quickly as the property is available with vacant possession.
“Prospective purchasers have the opportunity to acquire the asset and explore redevelopment options that could include a blend of residential, office, retail, or commercial uses, subject to the relevant consents,” Dickey says.
“Owner-occupiers could take advantage of the space to utilise it for their own business operations, while investors have scope to add considerable value and then lease the premises. The existing configuration also means it could be tenanted by multiple parties, creating a split income stream.
“For those who are looking to lease the property, they will be able to secure functional space in a tightly held location.”
Cockram, Director of Industrial at Colliers, says properties of this scale are seldom found on the open market in St Johns.
“This is an area with a low vacancy rate for commercial buildings and properties are rarely traded. The surrounding suburbs are experiencing considerable growth with multiple residential developments taking shape in Stonefields, while Glen Innes continues to gentrify through new housing initiatives,” Cockram says.
“The collection of retail and hospitality options that are only moments away make this an attractive location for businesses and the large landholding means there is a range of different ways the property can be positioned in the future.”
West, Director of Industrial at Colliers, says there is a collection of appealing fundamentals in place that make this property worthy of serious consideration.
“Having the chance to secure a premises like this with vacant possession in a key, central location that is surrounded by strong residential catchments is one that is not to be missed.”
- Supplied by Colliers
