A rare opportunity to acquire a substantial city fringe freehold with future flexibility for developers, owner occupiers, or strategic investors.
Currently generating net holding income of $758,000 + GST per annum, the existing lease expires on 31 May 2026. After this date, the property will be vacant, removing reliance on rental income and providing full flexibility for repositioning, redevelopment, or owner occupation.
Key Highlights:
1. Prime city fringe location on Khyber Pass Road, connecting Auckland CBD, Newmarket, Grafton, and the motorway network
2. Double Grammar Zone, enhancing long-term residential and mixed-use appeal
3. Zoned Business Mixed Use, allowing a broad range of residential, commercial, and employment uses
4. Substantial freehold site: approx. 1,490sqm land area with 1,836sqm floor area
5. 53 on-site car parks, a rare advantage for future development or owner use
6. Existing improvements offer flexibility for repurposing or redevelopment
Zoning & Development Potential
The Business Mixed Use Zone supports a blend of residential and employment activities, typically along key transport corridors and near major centres. It allows:
1. Residential development
2. Smaller-scale commercial or employment uses
3. Adaptive reuse or staged redevelopment
The zone does not mandate a specific mix of uses, giving the new owner flexibility to determine the optimal outcome based on market conditions.
