Mixed-use zone ensures next owner will have the luxury of a wide range of options.
An AA vehicle-testing station is about to vacate a large business mixed-use zone site in central Onehunga, offering a range of options for a new owner.
The 3190sq m freehold site at 53 Princes St, which runs across a full block through to Neilson St, will go under the hammer on May 14 as part of Bayleys' latest Greater Auckland portfolio auction and is offered for sale through Quinn Ngo, James Chan and Matt Lee of Bayleys Auckland
"This a great opportunity to acquire a large parcel of land in a central location," Ngo says. "There are a wide range of possible uses for the property. The existing 926sq m building could continue to be utilised as a vehicle-testing station or something similar or the site could be comprehensively and more intensively redeveloped incorporating other commercial, light industrial, retail or residential uses, or a combination of these."
The property's mixed-use zoning allows buildings to reach 15m and has a basic floor area ratio of 2sq m of building to 1sq m of land and a maximum ratio of four to one.
Potential activities permitted by this zoning include healthcare, education and entertainment, car sales and servicing, public car parking, service stations, offices, restaurants, cafes and taverns, warehousing and storage, visitor accommodation and retail and residential premises.
Vehicle access is off Princes St where five service lanes previously used by the testing station provide a very wide entranceway. Pedestrian access is available from Neilson St where the building is located across the full width of that street's boundary. The building was constructed in the late 1960s and extended in 2002 with additional office space and other modifications.
Chan says a large portion of the rectangular site, where it narrows towards Princess St, is under-utilised. At present, it provides a long strip of sealed road access to and from the building. Land on one side of the property has been developed into the Princes multi-apartment building. Other neighbours include Repco, a Mobil petrol station and The Library Cafe.
The site enjoys a high-profile position just off the main Onehunga retail strip and within a short walk of the Dress-Smart mall.
"Dress-Smart is New Zealand's largest outlet shopping centre, comprising over 100 stores, which ensures the immediate area is a popular destination for shoppers," Chan says.
Last year's Census showed that Onehunga has 14,733 residents living in 5847 dwellings. Lee says the nearby suburbs of Royal Oak and Penrose ensure that Onehunga is well supported by an established residential and commercial population base.
"The southwestern State Highway 20 motorway is less than a kilometre from the site while the north-south State Highway 1 motorway is 5km away.
"This, along with good public transport options by bus or train - with Onehunga station just one block away and a bus stop near the Neilson St entrance - provides convenient access routes and options throughout Auckland."
What's on offer?
The property: A 3190sq m mixed-use freehold site.
Where: 53 Princes St, Onehunga.
Agency: Bayleys Auckland.
Sales method: Auction on Wednesday, May 14.
Features: Ideal for redevelopment
• Site is underutilised.
• Runs on to Neilson St.
• High-profile position.
• Close to big Dress-Smart.