A character villa consented for commercial use in Mt Eden, Auckland, has been placed on the market for the first time in 16 years.
The freehold 177sq m villa, on a 634sq m site at 151 Dominion Rd, is being marketed by Jonathan Lynch and Peter Kermode of Colliers International and is featured in the agency's second New Zealand Portfolio magazine for 2013.
The property is scheduled to go under the hammer at 5pm on Monday, May 20, on site at the property's address, unless it is sold before auction day.
Lynch says the current occupier, Auckland Accountants, is moving premises after 16 years at the property, presenting the chance for an owner occupier to secure a high-profile standalone character building close to the CBD.
"This attractive property offers great flexibility to small to medium sized owner occupiers. Having been upgraded and converted for office use, it constitutes a versatile and rare offering close to Auckland's CBD," Lynch says.
The weatherboard villa was constructed in the first decade of the 20th century and incorporates various character features including a decorative front veranda. The sloping site accommodates a lower-ground level to the rear with bluestone exterior walls.
The ground level contains three offices, reception area, kitchen, store room and bathroom, with further storage on the lower ground level and four on-site carparks. The property is fully air conditioned and has Cat 5 computer wiring and a telephone system installed.
The unit is located in the popular city fringe area of Mt Eden, in a mixed-use area with surrounding commercial and residential occupiers.
"The location gives excellent visual exposure to Dominion Rd which carries around 27,000 vehicles past the property daily," says Lynch. "Its location makes it ideal for small professional service businesses, for example legal or financial services firms which require a cost-effective city fringe location."
Kermode says it would ideally suit a business that is looking to make the move into owning its own premises, given the low interest rates and availability of bank finance.
"This property also lends itself to buyers looking for a live-work solution, given its residential zoning and existing consent for a wide range of commercial uses.
"Character houses converted to offices are often attractive to small businesses because they provide an individual identity.
"Furthermore, with the large size of the section relative to the building size, there is potential to add value to the property."
John Bowring, Colliers International's national auction manager, says he has noted a marked increase in the popularity of small city fringe properties in the auction room over the past year.
He says this part of Dominion Rd gives quick access to the CBD as well as to Newmarket and Ponsonby via the New North Rd and Dominion Rd interchange, as well as easy access to the State Highway One motorway.
"The area is also well-serviced by cafes, restaurants and retail which is attractive to the office occupiers in the area."
Up for auction
On offer: City fringe villa converted to offices
Location: 151 Dominion Rd, Mt Eden
Agents: Colliers International
Sales method: On site auction at 5pm on Monday, May 20.
Features: Ideal for small businesses, add value potential on large section